One in five ultra-wealthy Indians with net worth over Rs 25 crore consider settling abroad for better investment and tax advantages, according to Kotak Mahindra Bank’s survey. A significant number are acquiring overseas real estate and diversifying portfolios globally. Succession planning and healthcare spending are rising priorities, driven by the pandemic. Education and collectibles also see increased interest.
Related news
The Trump administration's policies are causing concerns among F-1 student visa holders, H-1B visa holders, and green card holders. Many are hesitant to travel outside the US due to potential re-entry issues.
India's military modernization continues in a slow and haphazard manner with a modest 9.5% hike in the defence budget. The capital expenditure for acquisitions and infrastructure saw only a 4.6% increase, while the revenue outlay for operational costs and salaries remains almost double the capital provision.
Macrotech Developers accused House of Abhinandan Lodha of fabricating documents to misuse the 'Lodha' brand for a Goa project. Allegations include a fake board resolution to grant brand usage. The Lodha siblings, Abhishek and Abhinandan, are in a legal dispute over the 'Lodha' name rights. House of Abhinandan Lodha is reviewing the claims.
Commerce and Industry Minister Piyush Goyal shared that a German chemical firm plans to invest USD 1.5 billion in India. A state has already identified land for the investment, aimed at boosting FDI. The government’s efforts to improve business conditions and resolve legal issues were highlighted as attracting global investments.
Wall Street and global markets plummeted after President Trump's announcement of new global tariffs, intensifying trade war fears. The S&P 500, Dow, and Nasdaq futures saw significant drops, while oil prices and the US dollar also fell. Economists warn that these tariffs could slow growth, increase inflation, and heighten economic uncertainty worldwide.
Chinese telecom equipment company TP-Link has entered into a partnership with Optiemus Electronics for local production. Optiemus, based in Noida, will manufacture a range of TP-Link's networking devices and smart home products, including GPON, security cameras, home Wi-Fi routers, enterprise routers, modems/gateways, and network expansion devices.
Budget 2025 expectations: Finance Minister Nirmala Sitharaman is expected to increase fund allocations for the RoDTEP and RoSCTL schemes by nearly 10% each in Budget 2025-2026. This aims to address export demands and extend benefits to SEZs and export-oriented units, amid counters to challenges and tariff war opportunities.
Fintech unicorn Razorpay is relocating its headquarters from the US to India, aiming to go public by 2026. Despite potential tax implications, the reverse flipping process is underway, with RBI approval and NCLT involvement. Razorpay's valuation stands at $7.5 billion.
Inflation is a major concern for FY26, driven by higher raw material costs and domestic pressure. The depreciation of the Chinese Yuan and geopolitical tensions are also contributing factors. The Indian Rupee is expected to weaken further, with the Reserve Bank of India likely balancing growth and inflationary pressures while defending the Rupee.
Delhi-Mumbai Expressway: The completion of the Delhi-Mumbai Expressway has been delayed by two years due to slow progress in Gujarat sections. Union minister Nitin Gadkari has urged acceleration in construction following delays caused by land acquisition and technical issues.