NRI investments in Indian real estate are on the rise, fueled by sentimentality, tech advancements, and a projected 20% NRI contribution by 2025. Mumbai and Bengaluru remain top choices, with property management services and sustainability practices gaining traction.
18% of Canada-based NRIs, followed by 16% of UK and 12% of Singapore-based NRIs, focus on retirement planning while formulating long-term investment strategies
The interim budget for 2024 is expected to revolutionize India s economic landscape and address the challenges faced by NRIs. It will prioritize opportunities to boost economic growth and reduce the tax burden for NRIs. The budget is anticipated to simplify the Tax Deduction at Source (TDS) compliance process for NRIs, making it similar to that of resident sellers.
In 2024, Indias large and evolving investment market coupled with ardent policies, government initiatives, infrastructure development and enhanced connectivity will stand as a beacon of hope for NRIs looking forward to diversifying their investment portfolio.
As one of the emerging economies in the world, the Government of India has allowed NRIs to invest in Mutual Funds in conjunction with SEBIs rules of the Foreign Exchange Management Act(FEMA) ensuring that the investment process is transparent. However, it is important to note that certain asset management companies dont accept mutual fund applications from NRIs in Canada and the US.