Now Reading: India’s new rich beyond metros turn to global assets
-
01
India’s new rich beyond metros turn to global assets
Wealth creation is spreading beyond India's traditional metros, with Hyderabad, Pune, Kochi, Chennai, and even smaller cities like Lucknow, Nagpur, and Kolhapur adding millionaires, said Ashish Shanker, CEO of Motilal Oswal Private…
The Story in Brief
Wealth creation is spreading beyond India's traditional metros, with Hyderabad, Pune, Kochi, Chennai, and even smaller cities like Lucknow, Nagpur, and Kolhapur adding millionaires, said Ashish Shanker, CEO of Motilal Oswal Private Wealth, in an interview with livemint.com. The firm's assets under management have surged from Rs 20,000 crore to over Rs 2.39 trillion.
Shanker said affluent investors are increasingly diversifying into global assets, private equity, and pre-IPO opportunities. He noted that HNIs and family offices seek global exposure to align portfolios with dollar-linked expenses such as travel and education. The firm aims to become a leader in private wealth within five to six years.
The Indian Opinion
The coverage paints a picture of wealthy Indians confidently diversifying abroad, but it risks feeding a binary narrative of either 'India bullish' or 'fleeing India'. The reality is more nuanced. Many are hedging against rupee volatility and global expenses, not abandoning domestic markets. The real test will be the actual allocation shift: watch the percentage of assets under management that Motilal Oswal reports for global investments in its next quarterly update. That hard number will settle whether this is a trend or a trickle.
Source: livemint.com
This story was synthesised by AI from the source linked above.
