Is India the new Monaco?
Cardinal Yachts, a manufacturer of luxury boats in India, has launched an extensive fleet of pleasure yachts, catamarans, trawlers and fishing boats, in line with impressive growth in the leisure boating industry in the country.
A recent report by Boston Consulting Group confirmed that there were now more than 162,000 households in India worth more than US$1m (INR550 crore), and growing at 21% year on year, creating a buoyant affluent marketplace keen to enjoy the seas.
“India is the new Monaco,” said Harshvardhan Jaiswal, Director and Mastermind behind Cardinal Yachts. “Manufacturers from all over the world are looking to India right now and Cardinal Yachts is at the heart of the industry with a high quality product to enjoy and experience our beautiful coastline.”
India’s first marina has now been established in Kochi, opening up the pleasure boating industry and creating interest from across Asia and the Middle East.