Almost 80 per cent of global Indians surveyed are investing in India as against 85 per cent in their country of residence, and 56 per cent have increased their investment in India in the last three years, according to HSBC’s first annual Global Indian Pulse report.
The phrase ‘global Indians’ refers to anyone who is not currently living in India but was born there (first generation), or has a parent who was born there (second generation) or a grandparent born there (third generation).
In this report, Global Indians refers to Indians living across nine countires, which include the US, Canada, the UK, the UAE, Saudi Arabia, Hong Kong, Malaysia, Singapore and Australia.
Indians living in New Zealand are not part of the research or survey cohort.
HSBC surveyed over 4,152 of Indian origin across generations living in different countries concluded that most Indian diaspora members are keen to invest in India.
According to the report, property (46 per cent) and stocks and shares (47 per cent) are the most common asset classes.
The results of a survey conducted by a private lender HSBC suggest that sixty-one per cent of NRIs are planning to live in India in the future while 39 per cent say they would like to live in India but retire in their country of residence, a recent survey has concluded.
According to the survey results, the biggest motivation for investing in India is family and friends, followed by a wish to bring a positive change to their homeland.
Seventy-one per cent of the respondents said they would like to retire in the country of their residence. When asked about reasons for settling abroad post-retirement, 47 per cent of respondents chose the quality of life. Safety, health care coverage and economic security were other reasons.
Only four per cent of the respondents said they had never visited India.
The post COVID change
The pandemic has driven a change in attitudes towards investment in India, with 72 per cent of global Indians surveyed saying the pandemic has made them feel closer to friends and family in India.
And a third (36 per cent) of those already investing in India saying they have proactively increased their investments in India with the aim of promoting positive change, while 29 per cent are increasing their investment in India with the aim of supporting India’s Covid recovery.
This commitment is just as high among third-generation global Indians, with 63 per cent making the decision to increase their investments, despite having never lived in India.
The third generation is more motivated to aid economic recovery after the pandemic than other generations (32 per cent compared to 26 per cent of the first and second generations).
Global Indians maintain strong connections back to their homeland regardless of whether they are first, second or third generation. More than three quarters (77 per cent) of respondents said they felt a strong connection with India, and four-fifths (80 per cent) said they are very interested in the future success of India.
Even for those who have never lived in India, the connection remains strong, with third-generation global Indians feeling just as attached to India as those who were born there. The data reveals that while first (69 per cent) and second generation (52 per cent) global Indians put their family at the top of the list they miss about India, while third-generation global Indians have a different perspective, as most of them say they miss food (42 per cent) and the culture (39 per cent) more than they miss family (30 per cent).
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