Last Update: November 15th, 2017
What do you call people who get away from work by cruising in the latest Ferretti 681, know the difference between a Coach and a Fendi and think piggy banks are quaint museum artefacts?
Easy: new-age Indians!
Take a bow India 2.0, home to a billion dreams that are daily racing to fulfillment astride Jaguars and Land Rovers.
Date: 24th – 27th of February 2011
For those interested in checking out the economic sanctity and future of this spectacular story, here are a couple of samplers:
- The market opportunity for luxury products in India is estimated at $3 billion. This market is expected to grow at 25-30 per cent a year till 2015.
Changing consumer attitude, relaxation in import duties and emergence of high-end shopping destinations are some of the key reasons catalysing the growth of this market. Indian consumers have started gravitating towards luxury goods and services that connect with their aspirations.
- India currently has 6,000 families with surplus funds to the tune of INR 120 crore and more than 20,000 families with INR 40-120 crore.* The Great Indian Family has never had it so good.
With a population in excess of 12 million, Mumbai is said to have more millionaires per square mile than Manhattan. That apart, there are many more reasons why it makes sense for India’s largest boat show to dock in Mumbai: • Mumbai, known as the Commercial Capital of India, is the economic hub of most of the financial and business activities of the country.
- Mumbai has a natural harbour with miles of sheltered coastline – great places to sail to.
- India’s financial capital Mumbai is the world’s seventh largest city in terms of billionaire population according to a Top 10 Billionaire City list by Forbes. With the average wealth of resident billionaires valued at a whopping $7.6 billion, Mumbai surpasses the other 9 cities, viz. Moscow, New York, London, Istanbul,Hong Kong, Los Angeles, San Francisco, Dallas and Tokyo.
- Mumbai is home to the highest number of corporate headquarters and is home to the scions of some of India’s largest private enterprises like the Tata Group,the Reliance Group, the Aditya Birla Group, etc.
- Most of the foreign banks and financial institutions have set up offices in its expanse. Mumbai has been granted the status of the state capital of Maharashtra, since it has a large percentage of state and central government employees in its workforce. It comprises of the headquarters of esteemed Indian financial institutions like Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, etc.
- Mumbai also makes the abode to Bollywood, the Hindi movie industry. It has the command centers of all the major television and satellite networks as well.
- The city houses the mega-rich diamond, finance, IT and film industry.
- It has a strong boating heritage with the 3rd oldest yacht club in the world, the Royal Bombay Yacht Club, set up in 1846.
No future fairs planned.
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