The privately owned ferry was making its way to the Elephanta Caves, a popular tourist destination, when it was hit by the speedboat.
“A Navy craft undergoing engine trials lost control and collided with a passenger ferry,” the navy said in a statement, adding that it regretted the “tragic loss” of life.
A passenger on board the vessel told ABP Majha news channel: “The speedboat crashed into our boat and water started entering our boat and it overturned. The driver asked us to wear lifejackets.”
“I swam for 15 minutes before I was rescued by another boat,” said the passenger, who did not identify himself.
Prime Minister Narendra Modi posted: “The boat mishap in Mumbai is saddening. Condolences to the bereaved families. I pray that the injured recover soon.”
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