Of course, it's much more expensive to buy the sailing rigs with an oceangoing, A-classified, 55-ft long yacht that can accommodate 10 people costing anywhere between Rs 90 million to Rs 110 million. Smaller boats can be as low as Rs 10 million. Despite the higher prices for a leisure toy, fractional ownership programs have helped owners reduce the cost of ownership.
At Mongia's company West Coast Marine, he says he has four boats out of a fleet of 20 boats that are owned by multiple partners. That helps the price to come down to as little as Rs 2 million for a boat that's worth Rs 9 million, Mongia says. Shakeel Kudroli a former lawyer who founded Aquasail, a company that offers sailing courses and experiences and which owns boats across Mumbai and Goa, says that there are few buyers today because of the lack of servicing infrastructure. There are some 30 yachts of the 'passive leisure' variety which aren't used too frequently. Because of that, rates are relatively competitive for renting them.
Most management companies, of which there are around half a dozen look-after-owners boats, also rent them out and assist in the process for weekends and events. Kudroli emphasises that for charters and rentals the most optimum sea vessel is that which is low horsepower little or no cabins and designed with larger spaces for multiple people and are typically custom-built boats. The part of the business that does have takers is active leisure which included windsurfing, kite-surfing, kayaking, in other words, everything to do with sailing. He suggests that active navigation is the bright spot in sailing as opposed to parties on yachts. “That's where we see growth happening and have catered to 50,000 customers over the past decade,” he says.
Radhika Khurana, a financial services executive and boat owner says she started to rent out her boat because of the willingness of corporates to offer activities around yachting and sailing in India, which is tremendous. "We have a beautiful harbour, award-winning and highly skilled crew and skippers and lovely boats and the last mile in service delivery which would include a world-class jetty can significantly deepen the market," she says. Her point is, while still very niche and viewed as elitist, and interest levels have grown.
Equally, Malav Shroff, co-founder of Ocean Blue Boating cautions that the industry is still in a state of fragmentation and maturity may be a while to come. “Fuel prices are high, there's little that has changed with the infrastructure, and the requirement for a state-wise registration makes cruises tedious,” he says. The age-old issue is lagging infrastructure with not enough organised Marinas with refined access points.
Despite all the negatives, there is a small but tangible market that can be used to sustain the hobby. “It's not a money-making business but for those with passionate about sailing the dividends mean that you'll have fun and your running costs will be taken care of,” Mongia says.
In the big picture what is needed are more Marinas for each one created, adds hundreds of jobs for electricians, painters, maintenance and technical workers and so on. Singapore, as an example, has gone from being a non-yachting city to now being the leading destination for a super yacht in the last decade for a couple of reasons - the developed infrastructure as well the complementary retail around it. India has the history the coastline and the culture. All it needs is for the related ecosystem to get more organised. Until then, rentals are always an option for those who shy away from purchasing.