2020 Foresight: Non-Resident Indians
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The Indian economy grew at a CAGR of 2.73% from 2011 to 2015, attracting investments from across the world, including NRIs. Moreover, the Indian government has undertaken several initiatives to stimulate the country’s overall economic growth, including infrastructure development, manufacturing, reforms in the power generation industry, and strengthening the country’s telecommunications and internet networks.
The Indian government has also opened up key sectors such as railways, defense, insurance and medical devices to attract higher levels of foreign direct investment (FDI). A favorable investment environment and strong government efforts to foster economic growth are expected to make India a preferred destination for NRI investment over the forecast period.
An Indian national who is away from India for more than 180 days per year is considered as an NRI for tax and other official purposes by the Indian government. For the purposes of issuing a PIO (person of Indian origin who is not a citizen of India) card, the Indian government considers anyone of Indian origin to be a PIO, up to four generations removed.
After India achieved independence in 1947, there was a distinct pattern of emigration during the subsequent decades. Initially, Indians left for the UK, and together with the US, this was the emigrant population’s favored destination. Smaller numbers of Indians also migrated to other English-speaking countries such as Australia and New Zealand. However, the rapid growth of the Middle Eastern oil industry in the 1970s attracted significant numbers of Indians to the Gulf countries, although this was generally on a contractual basis rather than the permanent migration as seen in other countries.
Today, the Indian diaspora is spread across the world, with NRIs and PIOs living in more than 200 countries. What percentage of the total Indian diaspora is located in Asia and Africa? Where do the majority live in these regions? What is the total of Indians who emigrate every year? By what percentage does this increase the Indian diaspora annually?
Scope
• Detail on the key growth drivers of the wealth management market for NRIs
• Insight on key market trends and growth opportunities
• Analysis of investment trends for NRIs
• Detail on the marketing and growth strategies adopted by various banks and wealth management service providers to increase their shares in the NRI wealth management sector
• The geographical spread of the overseas Indian population in four regions: Africa, the Americas, Asia-Pacific and Europe
• NRI millionaires population by country
• The NRI millionaires total wealth in US$ billions
• NRI millionaires wealth by country in US$ billions
• The key regulatory and operational challenges faced by the Indian wealth industry
• Competitive landscape on the NRI wealth management market in various key countries globally including detail on wealth managers, family offices and private banks.
• An overview of leading companies in the NRI wealth management market
• The asset allocations of NRIs in key countries
• NRI remittances by continent of origin
Key Highlights
What was the total number of NRI millionaires in 2015? What was their average wealth in US$ million?
Which country accounted for the largest proportion of NRI millionaires? Which countries account for the next six largest proportions respectively?
Which countries accounted for the largest share of remittances to India in 2015? What was the total of this remittance in US$ billion?
What was the value of the worldwide wealth management market for NRI millionaires in 2015 in US$ billion? By how much is this value expected to increase in 2020?
Reasons to Buy
• Investigate a comprehensive analysis of the NRI private banking and wealth management sector and ensure your value proposition is based on the most current market information
• Gain a deeper understanding of the global landscape of the NRI wealth management market and identify new opportunities to grow your share of the market
• Assess regulatory developments and operational challenges affecting the NRI wealth management industry and ensure you remain compliant whilst minimizing your exposure to risk
• Evaluate the asset allocations, investment trends and growth drivers of the NRI population and develop your value proposition to achieve an optimum return on investment
Morgan Stanley Wealth Management
Northern Trust Family Office
ABN Amro Private Banking
Hawksford
Beta Consultants
Bank Leumi Private Banking
Arkin Holdings
National Commercial Bank Private Banking
NCB Capital Wealth Management
Diamond Bank
Premium Pensions Ltd
Credit Suisse
Arisaig Partners (Asia) Pte Ltd
HSBC
The Henley Group Ltd
Orion Partners
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