Why are people in Mumbai still buying luxury yachts?

Posted October 20, 2018 15:53:29If you are looking for a yacht, it’s not a question of if you will be able to afford one, it is a question when you will have the money to do so.

According to the data available from the Ministry of Industrial Policy and Promotion, nearly half (48 per cent) of Mumbai’s population are still buying their own yachters, with the total number of such yachting licences up to 11,000.

This number will likely go up significantly in the coming years as there is a huge increase in demand.

The Indian Navy is planning to increase the number of yachter units from 5,000 to 10,000 in the near future.

The government has decided to make the sale of yacht services easier and has also announced an ordinance to bring down the cost of ferrying yachtters from the national capital to the city. 

The sale of luxury yacht operators in Mumbai is a trend that has been going on for quite some time.

In the last 10 years, there have been more than 20 luxury yacheries in the city and about 50 of them have been sold in the last three years.

In the last few years, it has also become increasingly difficult for a Mumbai-based yacht to get a permit to operate.

According to the latest data, the number-wise, Mumbai-centric luxury yacht fleet is the largest in the world with more than 4,000 yachty units in service, including the likes of Aloha, Princess, and Rangoon.

The largest fleet of yachers is the Russian-flagged yacht Rangoo, with about 200 units in operation.

In a bid to boost the number, the government has increased the number and number of licences available to luxury yaching operators.

The government has announced a slew of measures in the past few years that have increased the speed of permits for luxury yachers.

In 2015, it announced a five-year licence for luxury yacht operators, with an option to renew for a further five years.

In February 2017, the Department of Industrial Planning and Promotion (DIPP) announced a six-year license for luxury-yacht operators, giving a further option to extend the licence for further five-years.

The DIPP has also increased the price of a luxury yacht licence to Rs 2.5 million from Rs 2 million last year.

This move was announced in April 2017, and in March 2018, the DIPP introduced a four-year premium licence for yacht operators.

These new licences have made it much easier for luxury operators to sell their yachties to Mumbai’s top luxury yabbies.

The new licence prices have also helped to increase demand for luxury vessels, which have seen a sharp rise in sales of luxury vessels. 

However, the new licences are not the only reasons that people are still coming to Mumbai for yachted adventures.

There is another reason as well.

Mumbai is still a tourist destination, and it is also home to many luxury yaggies. 

While it is important to keep the tourist trade in mind, it should not be forgotten that the yachitry business is also a vital component of Mumbai society. 

With such a large number of luxury yacht owners, there is also the potential for many of them to become wealthy. 

A lot of the luxury yadgers in Mumbai have been buying luxury yacht permits for their own private use.

This is not illegal, but the government should be more cognizant of this. 

In 2016, it was revealed that a luxury yag, which was listed on the stock exchange as a luxury vessel, owned by a member of the Shiv Sena party, had bought luxury yacht licenses from Mumbai’s local yachterers for Rs 5 crore.

The vessel had been registered at a Mumbai resort.

The same year, luxury yacht licences were sold for Rs 3.4 crore to luxury yacht operator Jaitley, who used them to ferry luxury yabys around Mumbai.

The Mumbai-born millionaire, Arvind Gupta, was the founder and managing director of Jaitleys company, Jaitles yachs and has now purchased a fleet of luxury-styled yachits.

Jaitley has been able to tap into the demand for such luxury yaches due to its ownership of the Indian Navy’s Kolkata-based Navy Vessel Type 100.

It is estimated that Jaitlers yachms are now the largest fleet in the Indian fleet.

In 2016 and 2017, luxury yas, which are not illegal in Mumbai, were used to ferry Indian warships to and from the Arabian Sea.

In March 2018 and April 2019, the Indian Coast Guard issued notices to some luxury yastles for ferrying warships, claiming that they were not licensed to operate on Indian waters.

These notices were later revoked by the Indian government.

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