NRI Wealth Management Market Worth US$1.065 Trillion in 2017
2020 Foresight: Non-Resident Indians is the new market research report available with ReportsnReports.com that says depreciation of the rupee against the US dollar is expected to encourage NRIs to invest in India.
DALLAS, Oct. 25, 2013 /PRNewswire-iReach/ -- 2020 Foresight: Non-Resident Indians 2013 market research report says As of May 2012, the population of overseas Indians, including NRIs and PIOs stood at around 21.9 million, with the population of NRI millionaires reaching approximately 180,000 in 2012. The US accounted for the largest proportion of NRI millionaires, followed by the UK, the UAE, Canada, Hong Kong, Singapore and Indonesia. The value of the worldwide wealth management market for NRI millionaires valued US$634 billion in 2012. This value is expected to increase from US$720 billion in 2013 to US$1.065 trillion in 2017, at a CAGR of 10.27% between 2013 and 2017 as per the research at http://www.reportsnreports.com/reports/269687-2020-foresight-non-resident-indians.html .
The value of inward NRI remittances increased from US$50 billion in 2008 to US$ 69.3 billion in 2012, registering a CAGR of 8.5% between 2008 and 2012. Gulf countries held the largest share in sending remittances to India, followed by the US. The rising incomes of migrants in Gulf countries due to rising oil prices are the main reason behind the increasing inward remittance from Gulf Cooperation Council (GCC) countries.
India's strong economic growth was the key driver for the increasing investment of wealth by overseas Indians in India. Backed by increased investment and consumption, India's GDP recorded a CAGR of 6.96% between 2008 and 2012 to reach a value of US$1.06 trillion. Furthermore, Indian government has undertaken several initiatives to stimulate the country's overall economic growth, which included infrastructure development, reforms in country's power generation industry, and investment in strengthening the country's telecommunications and internet networks. A suitable investment environment and strong economic growth made the country a preferred destination for NRI investment over the last five years.
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Although the NRI wealth management sector is currently dominated by foreign banks such as Citibank and HSBC, Indian banks such as ICICI, HDFC and SBI are gradually showing an increased interest in the market. Indian banks are also expanding their presence overseas in an attempt to take advantage of the growing NRI market. This increase in competition is expected to help serve the varying demands of the NRI population, and increase market penetration.
The Indian government has undertaken several initiatives to encourage NRIs to invest in India. It has formulated a proactive FDI policy which allows 100% foreign ownerships in a large number of industries, and majority ownership in all industries except banks, insurance companies and airlines. It has also created The Ministry of Overseas Indian Affairs (MOIA) dedicated to Indian nationals settled abroad. The MOIA is tasked with forming partnerships with overseas Indian investors to encourage them to invest in India, and offers a wide range of services to this group, including diaspora, financial, emigration and management services. The ministry also seeks to ease process of overseas Indians to carry out business in India, including provision of appropriate advisory services through knowledge partners, and helping to form partnerships between Indian companies and overseas Indian businesses.
Scope of the report 2020 Foresight: Non-Resident Indians covers:
- This report provides an extensive analysis on the wealth management market for non-resident Indians
- It details historical values for the wealth management market of non-resident Indian millionaires for 2008–2012, along with forecast figures for 2013–2017
- The report provides a detailed analysis on investment trends and drivers, marketing strategies, and challenges in wealth management market for non-resident Indians
- The report profiles top wealth management providers across the world providing services to non-resident Indians
Reasons To Buy
- Take strategic business decisions using top-level historic and forecast market data related to wealth management market for non-resident Indians
- Understand the growth drivers of the wealth management market for non-resident Indians, along with key market trends and growth opportunities
- Assess the marketing and growth strategies adopted by the banks and other wealth management service providers for non-resident Indians
- Assess the competitive dynamics in the wealth management market for non-resident Indians
List of Tables provided in this report:
Table 1: Geographical Spread of the Overseas Indian Population in Africa, May 2012
Table 2: Geographical Spread of the Overseas Indian Population in the Americas, May 2012
Table 3: Geographical Spread of the Overseas Indian Population in Asia-Pacific, May 2012
Table 4: Geographical Spread of the Overseas Indian Population in Europe, May 2012
Table 5: NRI Millionaires – Population by Country, 2012
Table 6: NRI Millionaires – Total Wealth (US$ Billion), 2013–2017
Table 7: NRI Millionaires – Wealth by Country (US$ Billion), 2012
Table 8: Top NRI Billionaires (US$ Billion), 2012
Table 9: FDI Inflows (US$ Billion), April 2000–March 2012
Table 10: FDI Inflows (US$ Billion), April 2000–March 2012
Table 11: Overseas Offices of Indian Banks
Table 12: Deposits in Banks by NRIs (US$ Billion), 2008–2012
Table 13: Key Regulatory and Operational Challenges Faced by the Indian Wealth Industry
Table 14: Wealth Management Industry – Main Companies Operating in India
List of Figures provided in the report 2020 Foresight: Non-Resident Indians :
Figure 1: Geographical Spread of the Overseas Indian Population, May 2012
Figure 2: NRI Millionaire Population by Country (%), 2012
Figure 3: NRI Millionaires – Total Wealth (US$ Billion), 2013–2017
Figure 4: NRI Millionaires – Wealth by Country (%), 2012
Figure 5: NRI Millionaires – Age Distribution, 2012
Figure 6: NRI Millionaires – Gender Distribution, 2012
Figure 7: NRI Millionaires – Sources of Wealth, 2012
Figure 8: NRI Millionaires – Distribution by Industry, 2012
Figure 9: NRI Investment Portfolio, 2012
Figure 10: Indian Remittances (US$ Billion), 2008–2012
Figure 11: Indian Remittances by Continent of Origin
Figure 12: NRI Wealth Portfolio (US$ Billion), 2012
Figure 13: Investment Trends and Drivers
Figure 14: Indian GDP Growth Rate (%), 2008–2017
Figure 15: Performance of the Indian Rupee Against the US Dollar
Figure 16: NRI Bank Deposits (US$ Billion), 2008–2012
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