Indian Government backs Marina Development

An initiative by the Indian government to boost cruise liner activity will also help stimulate future marina developments at key coastal resorts — and will include the construction of berths for larger yachts in locations such as Goa, Cochin and Chennai. All marina proposals under the scheme will be developed through public-private partnerships.

The government says that the main purpose of the policy is to expand India’s tourist industry in order to create jobs, bring in foreign currency and promote “people to people contact to enhance India’s friendly ties with foreign countries.”

The emphasis on marinas — and the inherent development of yachting — highlights the significance that the government places on marine tourism. Yachting in India is still very much in its infancy — as is the marina market — but despite the downturn, there are already plans to develop a number of facilities.

Mumbai, Goa and Kochi on the west coast and Chennai on the south east coast are the most attractive options for marina developers. Kochi and Goa already have a small number of yacht marina berths but several more are planned.

Project studies have already been carried out including a proposal to develop facilities in Mumbai — home to the increasingly popular annual international boat show that has been held over the past two years. Two active companies in this project are Goa Yacht Haven PVT Ltd and Marina India.

India’s growing economic significance, although lessened by the downturn, means that the country has a rising number of high net worth individuals who either already own a yacht — or intend to in the near future.

Superyacht Business / David Robinson, 5 August 2009

http://www.ibinews.com/auto/newsdesk/20090705153121syb.html

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