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<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

The <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> on Thursday latched on to a new rich list to attack the Centre, alleging that Prime Minister Narendra Modi's "<keyword id="21027901" type="General" weightage="100" keywordseo="billionaire-raj" source="keywords">billionaire raj</keyword>" is more unequal than even the <keyword id="20034027" type="General" weightage="20" keywordseo="British-Raj" source="keywords">British Raj</keyword> and it is also the cornerstone of the government's <keyword id="22965777" type="General" weightage="20" keywordseo="economic-policy-making" source="keywords">economic policy-making</keyword>. Congress general secretary in-charge communications <keyword id="20035989" type="General" weightage="20" keywordseo="Jairam-Ramesh" source="keywords">Jairam Ramesh</keyword> shared on X a media report which cited the <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> to state that India created a new billionaire every five days throughout 2023. "India has had one billionaire for every five days in 2023, and the non-biological Prime Minister's closest friend is the foremost among them all," Ramesh said on X. "Modi's Billionaire Raj is more unequal than even the British Raj. But it is also the cornerstone of the government's economic policy-making," he alleged. This is why, at a time when countries across the world are coalescing around the idea of a global billionaire tax, the Indian government has been conspicuously silent and continues to remain blind to rapidly increasing economic inequalities, Ramesh said. Recouping the dent caused by the <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> report, <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword>'s networth shot up 95 per cent to Rs 11.6 lakh crore last year, which helped him replace <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> to become the richest Indian, according to the 2024 Hurun India Rich List. Reliance Industries Chairman and Managing Director Ambani's overall networth increased by 25 per cent to Rs 10.14 lakh crore, as per the Hurun list. In 2023's report, Adani's wealth declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore. It can be noted that Adani's networth declined sharply following various allegations levelled by US-based short seller Hindenburg Research. The conglomerate has denied all the allegations. In the 2014 edition, Hurun had pegged Adani's fortunes at Rs 44,000 crore, which made him the tenth richest Indian then.

PM Modi's 'Billionaire Raj' more unequal than even British Raj: Congress

<ul class="summary-list"><li>Bill Gates has often talked about imposing a tax on the wealthy. </li><li>He told the World Economic Forum that "those who have the most" should be more generous. </li></ul><a target="_blank" href="https://www.businessinsider.com/category/bill-gates">Bill Gates</a> wants ultra-wealthy individuals to pay more tax — and now a growing chorus of billionaires agree. In his annual <a target="_blank" href="https://www.reddit.com/r/IAmA/comments/109eze3/im_bill_gates_and_im_back_for_my_11th_ama_ask_me/">"Ask Me Anything"</a> forum on Reddit last year, the Microsoft cofounder said he was "surprised" that taxes for the rich haven't been increased more.Gates doubled down on his calls to tax the rich in a panel at the World Economic Forum in Davos this week. He said the <a target="_blank" href="https://www.businessinsider.com/bill-gates-richest-countries-and-people-should-be-more-generous-2024-1">wealthiest nations should donate more money</a> to developing countries to help redress inequality. "Those who have the most — whether it's countries, companies, or individuals — should be pushed to be more generous," he said. It seems others agree, as more than 250 ultra-wealthy people signed an <a target="_blank" href="https://proudtopaymore.org/">open letter</a> calling for global leaders to impose a wealth tax."Our request is simple: we ask you to tax us, the very richest in society," the letter says. It also says that taxing the super-wealthy won't "deprive" their children or "fundamentally alter" their standard of living. The open letter's signatories includes <a target="_blank" href="https://www.businessinsider.com/heiress-abigail-disney-compares-dynamics-of-wealth-to-addiction-dynastic-2021-6?">Abigail Disney</a>, whose grandfather Roy O. Disney cofounded The Walt Disney Company. It also includes "Succession" actor Brian Cox and Valerie Rockefeller of the <a target="_blank" href="https://www.businessinsider.com/a-history-of-the-rockefellers-2012-4?r=US&amp;IR=T#:~:text=The%20Rockefellers%20most%20likely%20immigrated,the%20U.S.%20in%20the%201720s.&amp;text=The%20original%20name%20was%20said,purported%20home%20city%20of%20Neuwied.">Rockefeller family</a>. "If elected representatives of the world's leading economies do not take steps to address the dramatic rise of economic inequality, the consequences will continue to be catastrophic for society," the letter reads. A report was released alongside the letter as part of the "Proud To Pay More" campaign, put together by the Patriotic Millionaires, Patriotic Millionaires UK, TaxMeNow, Millionaires For Humanity, and charity Oxfam. The report includes a note written by Abigail Disney, in which she writes that she "was wrong" for <a target="_blank" href="https://www.businessinsider.com/abigail-disney-heiress-wrong-fly-private-boeing-737-jet-2024-1">flying alone on her family's private Boeing 737</a> on trips from California to New York.The Disney heiress said: "I have since given up flying private and have made other adjustments to my routines in an effort to protect the environment." She also partly blamed the richest 1% for contributing to climate change as a result of their "private jets, superyachts, gas-guzzling hot rods, helicopters, and (for a lucky few) private space rockets."

Bill Gates thinks the super-wealthy should pay more tax – and plenty of rich people agree

New Delhi, The Indian ultra-rich allocate 17 per cent of their investable wealth towards luxury items, with maximum preference to watches followed by art and jewellery, according to <keyword id="19895043" type="General" weightage="20" keywordseo="knight-frank" source="keywords">Knight Frank</keyword>. In a virtual press conference, real estate consultant Knight Frank released 'The Wealth Report 2024', highlighting that 17 per cent of the investable wealth of Indian Ultra-high Net Worth Individuals (<keyword id="20759156" type="General" weightage="20" keywordseo="uhnwi" source="keywords">UHNWI</keyword>) is allocated towards luxury or passion investments. UHNWI are defined as individuals with a net worth of USD 30 million and above. The joy of ownership has been cited in the survey as the prime reason for Indian UHNWIs for making investments into luxury assets, the consultant said. Among Indian UHNWIs, luxury watches are the most coveted investment category, followed by art and jewellery. Classic cars are at 4th position, followed by luxury handbags, wine, rare whisky, furniture, coloured diamonds, and coins. However, on a global scale, the super-rich show their preference for luxury watches and classic cars. <keyword id="19895044" type="General" weightage="20" keywordseo="knight-frank-india" source="keywords">Knight Frank India</keyword> Chairman and Managing Director <keyword id="20404833" type="General" weightage="20" keywordseo="shishir-baijal" source="keywords">Shishir Baijal</keyword> said in a report, "<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s affluent class has long shown a fondness for collectibles spanning various categories. With both domestic and global markets offering significantly higher returns for such items, India's ultra-wealthy are actively pursuing investment opportunities in areas aligned with their passions." The demand for rare collectibles is on the rise across different age groups in India, he added. "... as wealth continues to grow in the country, we can anticipate further investments in these asset classes," Baijal hoped. According to the annual Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, art was the best-performing luxury asset class with prices rising 11 per cent in 2023. "Despite witnessing a depreciation of 9 per cent in the last 12-month, over a longer period of 10-year, rare whisky continued to command its premium value registering 280 per cent returns," the report said. Despite the major auction houses observing a year of record-breaking sales in the luxury investment market, the KFLII edged into marginal negative territory for the second time, declining 1 per cent in 2023. This was because several constituents of the index dropped into the red zone or showed minimal gains.

India's super rich put 17% of investable wealth in luxury items says Knight Frank

<ul class="summary-list"><li>British billionaire David Sullivan has cut the price of his London mansion by about $13 million.</li><li>The businessman, who owns the West Ham United soccer club, said he is taking a loss on the property.</li></ul>British <a target="_blank" class="" href="https://www.businessinsider.com/category/billionaires">billionaire</a> David Sullivan has cut the price of his London mansion to £65 million (about $85 million), knocking about $13 million off of the previous asking price.Sullivan, an owner of the east London-based soccer club West Ham United, told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-03/west-ham-united-owner-cuts-london-mansion-price-by-10-million">Bloomberg</a> that while he would now be selling the property for a loss, "you have to be realistic."<div type="image" title="A living area in the house." height="6191" width="8199" msid="113991316" hostid="261" sizebytes="1760512"></div>"Interest rates are high — they're coming down but not much," Sullivan said."I also think what the government is doing to the non-doms isn't very nice, and a lot of rich people are leaving the country as a result of what they anticipate in the budget. Three or four of my friends already have gone to Monaco or Dubai," he added.<div type="image" title="A meeting/dining room in the house." height="4480" width="6720" msid="113991310" hostid="261" sizebytes="1286418"></div>Sullivan, 75, was referring to planned changes to government policy that would remove certain tax advantages for wealthy UK residents whose permanent home — for tax reasons — is outside the UK.The proposed changes have led to uncertainty in the market, according to real-estate firm Knight Frank, with London's "super-prime market" seeing 22% fewer transactions in the 12 months to July compared to the year prior.And that's not ideal for Sullivan, who told Bloomberg he spent about £75 million (about $98 million) on his Marylebone property — £27 million (about $35 million) to buy the house in 2015 and almost £50 million (roughly $65 million) refurbishing it.<div type="image" title="A wine cellar in the property." height="4480" width="6720" msid="113991305" hostid="261" sizebytes="2075738"></div>According to Knight Frank, the 21,000-square-foot house at 33 Portland Place was built in 1775. It features 10 bedrooms, 10 bathrooms, a swimming pool, a wine cellar, a cinema room, a sauna, and a "sky lounge."One of the property's former owners, Edward Davenport, was convicted of a multimillion-pound fraud in 2011. He was released in 2014 after he was granted clemency on the grounds of ill health, <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">the Guardian</a> reported.<div type="image" title="The house." height="1921" width="2561" msid="113991321" hostid="261" sizebytes="558170"></div>Under Davenport's ownership, the house hosted several famous guests and was famed for holding raucous parties.Supermodel Kate Moss once shot a campaign for Agent Provocateur on the property, while British music icon Amy Winehouse used it as the set for her "Rehab" music video. It was also used to film scenes for the Oscar-winning film "The King's Speech."<div type="image" title="A living area in the house." height="4379" width="6568" msid="113991318" hostid="261" sizebytes="1155658"></div>Davenport's website shows photos of him posing with various celebrities, from Paris Hilton to Daniel Radcliffe. One photo also shows him with Sullivan.Davenport <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">purchased</a> the house from the Sierra Leone High Commission in 1999.<h2 id="61b8db58-ad1f-444e-b375-c69774aff86f">Who is David Sullivan?</h2><div type="image" title="David Sullivan." height="512" width="683" msid="113991308" hostid="261" sizebytes="18814"></div>Sullivan is worth about £1.2 billion (roughly $1.6 billion), according to The Sunday Times Rich List.The 75-year-old first made his money in the adult entertainment industry before moving into media, owning the Daily Sport and Sunday Sport newspapers.Speaking to <a target="_blank" class="" href="https://www.thetimes.com/article/sullivan-proud-of-his-record-as-true-blue-k5l5qw9dph0">The Times of London</a> about his career in 2006, Sullivan said: "I always had a burning desire to be fabulously rich because I came from a fabulously poor background.""I am not embarrassed by what I have done," he added. "I am not one of those people who tells the neighbours I'm in the print business. I'm in the adult entertainment industry and I have met some lovely girls and made a lot of money. I have given an awful lot of people a lot of pleasure and I have never hurt anyone."

British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.

As India’s start-up ecosystem matures, a new trend is emerging: <keyword id="23791918" type="General" weightage="20" keywordseo="micro-acquisitions" source="Orion">micro-acquisitions</keyword>. This approach – focussed on buying smaller businesses – has become increasingly popular among Indian entrepreneurs looking for cost-effective growth avenues. Platforms like <keyword id="23791917" type="General" weightage="20" keywordseo="flippa" source="keywords">Flippa</keyword> are at the forefront of this shift, facilitating these transactions by offering a user-friendly, data-rich environment where buyers and sellers can connect seamlessly. In a country that has seen rapid growth in entrepreneurship, micro-acquisitions represent a shift from the traditional emphasis on large scale deals. And this trend is being fuelled by an influx of domestic funds and micro venture capital (VC) firms dedicated to nurturing early-stage startups. <h2>Changing Mindsets: Why Micro-Acquisitions?</h2>Entrepreneurs are turning to micro-acquisitions for the flexibility, speed and cost-efficiency that they offer. By targeting smaller, less capital intensive deals, they are able to side step the complexities of a traditional M&amp;A, making it a viable pathway for expansion and growth. Besides these can also help entrepreneurs diversify their holdings and adapt to market demands without overcommitting resources. Flippa allows Indian entrepreneurs to access a global marketplace where they can identify businesses aligned with their objectives. <h2>The M&amp;A Landscape in India</h2>While the US mergers and acquisitions market has seen slower growth, private capital inflows in India are on the rise, according to <a href="https://www.pwc.com/gx/en/services/deals/trends/private-capital.html">PwC</a>. The second quarter of 2024 proved to be a landmark period for Indian startups, with a 57% year-on-year surge in megadeals driving fundraising to an eight-quarter high of $5.2 billion, as reported by <a href="https://www.dealstreetasia.com/reports/india-deal-review-q2-2024">Deal Street Asia</a>. Flippa has capitalised on this trend. A marketplace founded in 2009 for buying and selling online businesses, it has amassed over 3 million users worldwide. As of <a href="https://flippa.com/data-insights?buy_sell=PR_DataInsights_EmbedGraphs">October 2024</a>, Flippa had 396,000 active buyers on its platform with a combined wallet of $75 billion, an increase of 15,000 active buyers month-on-month. This broad, engaged user base gives Indian entrepreneurs a diverse pool of acquisition targets, from digital properties to app-based ventures. Notably, data-driven app acquisition companies like KalaGato leverage Flippa to identify the right opportunities. “If you’re trying to get into the market, a platform like Flippa is a great place to start,” said Aman Kumar, Founder of KalaGato. <h2>Cutting Edge Technology At Work</h2>Flippa’s technology sets it apart, using a proprietary <a href="https://flippa.com/product/recommender-engine">matching algorithm</a> powered by an AI-driven graph neural network that assesses over 100 factors to match buyers and sellers. This technology streamlines the acquisition process, helping entrepreneurs find suitable opportunities more efficiently, especially in a crowded market like India, where navigating business brokers or directly approaching potential sellers can be time-consuming and fraught with challenges. “Flippa as a platform is continuously evolving. Once you start looking at exits or the potential to exit a business, then a platform like Flippa is super useful,” Kumar adds, emphasising the platform's adaptability to the needs of modern entrepreneurs. Another standout feature is its <a href="https://flippa.com/product/deal-room">multi-user Deal Room</a>. This comprehensive digital sales hub allows users to manage the entire sales process for online businesses and digital assets in one place. Sellers can communicate with buyers in real time, filter messages, and review offers and Letters of Intent (LOIs) within the Deal Room itself. This organisation is particularly helpful for entrepreneurs who may be overwhelmed by the volume of inquiries when trying to sell their business. The Deal Room provides real-time notifications about buyer engagement, ensuring that users can respond promptly and keep negotiations moving forward. Buyers are invited to the Deal Room on a scheduled basis, creating a structured interaction environment. <h2>Prioritising Security and Trust</h2>A secure transaction environment is crucial, especially for entrepreneurs new to acquisitions. Flippa’s <a href="https://flippa.com/product/insurance">insurance</a> policies offer this layer of security for both buyers and sellers. The Buyer Protect policy safeguards buyers against financial losses resulting from seller misrepresentation or breaches of warranty, covering up to 100% of the enterprise value of the business. Meanwhile, the Seller Protect policy shields sellers from potential financial losses, creating a balanced environment for transactions. This dual protection reinforces trust and allows the involved parties to focus on growth without worrying about potential hidden risks. <h2>Market Insights for Informed Decision-Making</h2>To further assist users in making informed decisions, <a href="https://flippa.com/product/market-insights/">Flippa Market Insights</a> provides valuable data on online businesses and digital assets. This tool enables users to compare prices of similar businesses, benchmark performance metrics like average order value and customer lifetime value, and access real-time sales data, including historical performance information. Users can filter this data by time period, business model, and price point, ensuring they have the insights needed to navigate the acquisition landscape effectively. Flippa’s expert vetting team reviews the stated financial performance of every asset priced above USD $50,000, providing an additional layer of credibility to the listings. <h2>A Bright Future for Micro-Acquisitions in India</h2>With the Indian startup ecosystem thriving and the appetite for micro-acquisitions only expected to grow, Flippa stands at the forefront by connecting ambitious entrepreneurs with the resources they need to succeed. Whether you’re an established business owner looking to expand your portfolio or a newcomer eager to dip your toes into entrepreneurship, Flippa offers a wealth of opportunities in this exciting landscape. So, if you are interested in starting your exit journey, get a free valuation for your business here - <a href="https://flippa.com/free-valuation">get a FREE valuation</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

The rise of micro-acquisitions in India: How Flippa is driving the trend

<ul><li>In 2023, <keyword id="6362656" type="General" weightage="20" keywordseo="apartment" source="Orion">apartment</keyword> prices in <keyword id="6354539" type="General" weightage="20" keywordseo="dubai" source="Orion">Dubai</keyword> rose by approximately 18% and villa prices by about 22% </li><li>Dubai also has no capital gain tax, which makes investing in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> a compelling proposition. </li><li>Rental yields, robust capital appreciation, and the stability of the Emirati Dirham (AED) are other reasons cited for <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>. </li></ul>After the COVID pandemic got over, the real estate market has been going from strength to strength with affluent Indians also looking outside the country to make investments. Sample this – as per a report by ANAROCK, in 2022, Indians accounted for about 40% of all home-buying deals, with a total investment of ₹35,000 crore, nearly doubling the investment from 2021. Now, according to the Betterhomes <keyword id="6393792" type="General" weightage="20" keywordseo="residential" source="Orion">Residential</keyword> Market Report 2023, Indians have emerged as the leading investors in Dubai's real estate market, surpassing Britons in the third quarter of 2023. In the first six months of the year gone by, Indian investors pumped approximately $335 million into the Dubai real estate sector. The Dubai real estate market has experienced robust growth in terms of price appreciation and rental yields. “In 2023, apartment prices rose by approximately 18.3%, and villa prices by about 22.2%. The market is expected to continue this trend in 2024, with short-term rentals projected to jump by around 20% and long-term rentals by 15% compared to 2023,” says Morgan Owen, managing director, Middle East and North Africa, ANAROCK Group, a real estate services company. Growth potential The Dubai real estate market is projected to grow by about 15% in 2024, driven by a robust economy and foreign investor interest. “Dubai real estate has been very volatile over the last few years, but the last two to two and a half years has been a golden period. You have a market where you are seeing a boom,” says Sanjay Guha, Founder and CEO, Acquist, a real estate advisory firm. Golden visa and tax benefit Given its proximity to India and a sizable Indian diaspora of over 3.5 million residing in Dubai, the city has long been perceived as a second home for many Indians. “The attractive aspects of investing in Dubai include impressive rental yields, robust capital appreciation, and the stability of the Emirati Dirham (AED) being pegged to the US Dollar,” says Akash Puri, director, international, India Sotheby's International Realty. Puri adds that Dubai's "Golden Visa" initiative has also garnered significant attention from Indian investors. Acquiring property stands as the simplest way of investing and securing a Golden Visa. If your purpose of investment is to get a Golden Visa, then you need to buy a property worth at least 2 million dirhams in Dubai. This will grant you a Golden Visa for 5 years, renewable on the same conditions. “It must be noted that Dubai also has no capital gain tax, which makes investing in real estate a compelling proposition. Ease of doing business and a tax-friendly environment are a big plus,” says Puri. “What is happening is that you have an option to invest in Dubai from ₹2 to ₹2.5 crore. If you look at Mumbai, you cannot buy anything at this price in a place like South Mumbai,” says Guha. Why the HNI are investing According to Guha, a lot of HNIs invest in Dubai to de-risk their portfolio. Their primary investments remain in the Indian rupee, but they can have alternate asset classes in dollar terms, since the Dirham is pegged to the dollar. “Dubai offers rental yields of 4% to 7% annually, with no taxes on property rental income and capital gains, increasing the profitability of investments,” says Owen. There is also another advantage of investing in a Dubai property. “In Dubai, you can buy the flat, put the flat on rent, get the money in your account, pay any required taxes sitting at your home in India or anywhere in the world, it is that easy and professionally managed,” says Guha. How to invest in a property in Dubai? The Liberalised Remittance Scheme (LRS), a program implemented by the Reserve Bank of India (RBI) allows resident individuals in India to freely remit up to $250,000 per financial year (April 1st to March 31st) for any permissible current or capital account transaction or a combination of both. That is about ₹2 crore. Let us say a family is buying a property worth ₹8 crore in Dubai. Each of them can remit a maximum of ₹2 crore approximately in one financial year ending March. According to Guha, the payments to be made for a property can be done in such a way that half the payment is made at the end of a financial year and the other half is made in the next financial year. When done at the end of March this would mean only a few days gap in between, thus utilising limits for both financial years for both individuals. What to keep in mind Before investing in a Dubai property, it's crucial to conduct thorough research on the market trends and dynamics. Understanding the legal aspects related to property ownership in Dubai is paramount to ensure a smooth and compliant investment process. “When planning to buy a property in Dubai, the initial step is to clearly define the end goal: whether the purchase is for investment purposes or personal use. This clarity guides the selection process along with comprehensive market research and engaging a reputable agency which will further be invaluable in navigating the process,” says Puri. Additionally, considering the location and the reputation of the developer can significantly impact the property's long-term value.

The Indian rich is buying property in Dubai – Tax benefits to rental yields, the driving forces at play

The government's decision to remove <keyword id="22142879" type="General" weightage="20" keywordseo="indexation-benefit" source="keywords">indexation benefit</keyword> on sale of old property will result in huge <keyword id="22544904" type="General" weightage="20" keywordseo="inflow-of-black-money" source="keywords">inflow of black money</keyword> in <keyword id="19895040" type="General" weightage="100" keywordseo="real-estate" source="keywords">real estate</keyword> and investments in the sector will go down, AAP Rajya Sabha member <keyword id="19934326" type="General" weightage="20" keywordseo="Raghav-Chadha" source="keywords">Raghav Chadha</keyword> said on Thursday. Asking the government to roll back the proposal, Chadha, while taking part in the discussion on the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25, said people will never be able to buy their "dream homes". "Restore indexation on <keyword id="20584761" type="General" weightage="20" keywordseo="long-term-capital-gains" source="keywords">long-term capital gains</keyword>. Throughout the world, to woo investors to invest they are incentivised. In this country, by removing indexation we are disincentivising the investor class," he said, adding that removing indexation is not imposing <keyword id="19987671" type="General" weightage="20" keywordseo="tax" source="keywords">tax</keyword> but it is equivalent to "penalising investors". He said as a result of the step proposed by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman in the Budget 2024-25, individuals selling old properties will incur higher tax outgo. "If you do not bring back indexation three things will happen in this country. First, <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in real estate will go down and people will never be able to buy their 'dream homes'," Chadha asserted. He further said there will be undervaluation of property deals, people will buy properties at 'circle rates' and will never disclose the real value of the property. "Third, there will be a huge inflow of <keyword id="20592248" type="General" weightage="20" keywordseo="black-money" source="keywords">black money</keyword> if you don't roll back this decision to withdraw indexation," he said. In the Union Budget 2024-25, the government proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation. As per the Memorandum to the Union Budget, with rationalisation of rate to 12.5 per cent, indexation available under Section 48 of the Income Tax Act has been proposed to be removed for calculation of any long-term capital gains, which is presently available for property, gold and other unlisted assets. Chadha also highlighted the high tax burden faced by common people and asked for a comprehensive review of both direct and indirect taxes. "We impose taxes like the Europeans do, to get services like sub-Saharan countries," he added. Taking part in the discussion, Debashish Samantaray of the BJD said the central government has given a raw deal to all eastern states like Odisha, Jharkhand, West Bengal in the Budget. He charged that in spite of Odisha giving 20 seats to the BJP, there was hardly anything for the state in the Union Budget. He noted that "regional aspiration should be addressed", and asked the central government to treat all states as equal. RJD's Sanjay Yadav attacked the government stating the Budget had nothing for the poor and marginalised and only catered to the rich and powerful. He noted that his party has been demanding special category status for Bihar for a very long time. Yadav said instead of dividing people on the basis of religion and caste, the government should work towards generating employment in the country. Medha Vishram Kulkarni of BJP and Rajani Ashokrao Patil of INC also participated in the debate. C V Shanmugham of AIADMK said allocation in the Budget does not significantly address the pressing needs of Tamil Nadu's infrastructure, health care, Social justice and education. The government has mentioned 76 projects in Tamil Nadu, but most of them are pre-existing ones getting a facelift. Moreover, in the Budget, no help in flood mitigation was provided, despite the state being prone to cyclones. There is no mention of a linkage of Kaveri and Godawari in the Budget, he said. Samirul Islam of AITC said this Budget is anti-people, anti-poor and anti-Bengal. It only satisfies Bihar and Andhra Pradesh's allies and is to save the government. "The Budget has deprived Bengal," he said. It has also ignored the people, especially the unorganised sector. 83 per cent of India's workforce is employed by unorganised sectors and failed to announce a comprehensive scheme for them and migrant workers, he said. M Mohamed Abdulla of the DMK said the Budget has provoked a constructive debate and disappointment in Tamil Nadu, a state known for its economic contributions. Tamil Nadu expected support and recognition in the budgetary allocations, but received nothing. The government is supposed to represent the people of the country as a whole. However, it is very unfortunate and unfair to see unequal distribution to the state governments, especially for the non-BJP ruled states like Tamil Nadu which provides the highest tax for the government, he said.

Removal of indexation benefit will lead to huge inflow of black money in real estate: Raghav Chadha

<ul><li>100% UHNIs in India expect their wealth to grow in 2023, compared to 69% globally. </li><li>15% Indian UHNIs held residential property abroad as compared to 28% globally. </li><li>For UHNIs, the top segments for wealth allocation were equities, direct commercial property, bonds and private equity. </li><li>For the first time, private investment surpassed institutional investment in global commercial real estate. </li></ul>Last year was good for Indian ultra high networth individuals or UHNIs – as 88% of them reported growth in their wealth. Globally, only 40% of the <keyword id="469040" type="General" weightage="20" keywordseo="super-rich" source="Orion">super rich</keyword> could make the same claim as per a report by property consultant <keyword id="6363605" type="General" weightage="100" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>. It hence comes as no surprise that all of them – 100% of Indian UHNIs — expect their wealth to grow even in 2023, says The Wealth Report 2023. Globally, 69% of them expect good tidings this year. In India, 19% of Indian super rich are self-made and under 40 years, while globally they account for 23%. UHNIs or the super-rich are defined as those who have an investable surplus of ₹25 crore or more. <cmsannotation type="cmsannotation" annotationid="A bad year for global wealth" comment="subhead2" text="A bad year for global wealth">A bad year for global wealth</cmsannotation> The year of 2022 however was a wealth destroyer, the aggregate global wealth fell by 10%. The most hit was Europe which was on the receiving end of the Russia-Ukraine war – whose wealth fell by 17%. In Asia and Middle East regions, it fell by 7% each, and 10% in the Americas. Globally, in 2022, private investors were the most active buyers in global commercial real estate investment. They invested $455 billion accounting for 41% of the total. “This represents private investors’ highest share of global commercial real estate on record and is the first-time private investment has surpassed institutional investment,” Knight Frank said. <cmsannotation type="cmsannotation" annotationid="More wealth to secondary homes" comment="subhead2" text="More wealth to secondary homes">More wealth to secondary homes</cmsannotation> The report also revealed interesting insights regarding home ownership of Indian UHNIs. On average, they own an average of 5.1 homes, while the global number is 4.1. The wealth allocation to primary and secondary homes was 37% for Indians, and 32% globally. Only 15% Indian UHNWIs held residential property abroad as compared to 28% globally. Interestingly, the top favoured countries for home purchase for Indian super rich in 2022 were UK (47%), UAE (41%), USA (29%) and Canada (18%). As many as 21% of Indian UHNIs considered making commercial property investments, and slightly higher than the global average. <cmsannotation type="cmsannotation" annotationid="Bags, not classic cars" comment="subhead2" text="Bags, not classic cars">Bags, not classic cars</cmsannotation> Most UHNIs allocate most of their wealth into equity markets — at 34%. Next comes direct commercial property (17%), bond market (16%) and private equity (10%). Art, watches and luxury handbags were the top three investments of passion for Indians. Globally, art, classic cars and jewelry were the top three. <cmsannotation type="cmsannotation" annotationid="Capital appreciation vs preservation" comment="subhead2" text="Capital appreciation vs preservation">Capital appreciation vs preservation</cmsannotation> In 2023, 31% UHNIs said that capital appreciation was their biggest goal for wealth, while 25% said that their biggest goal was capital preservation. Income generation (25%) and diversification(14%) were the next biggest goals. Also, one-third of the respondents said that they want to expand property holdings while 29% said that they want to deleverage. When it came to the safest asset class, residential property was considered the safest, followed by gold, bonds, commercial property and equity markets. Cryptocurrencies were considered as the most volatile asset. The report also revealed that 77% UHNIs feel that environmental considerations impact their investment decision to some extent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-completes-acquisition-of-citibanks-consumer-business-heres-everything-to-know/articleshow/98337170.cms">Axis Bank completes acquisition of Citibank’s consumer business for ₹11,603 crore – here’s everything to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/this-is-how-big-your-1-million-home-would-be-in-top-cities/slidelist/98335765.cms">This is how big your $1 million home would be in top cities</a>

India's super-rich gear up for a better year ahead: Knight Frank

<ul><li>India’s billionaires are expected to grow to 195 by 2027, says a <keyword id="6363605" type="General" weightage="100" keywordseo="knight-frank" source="Orion">Knight Frank</keyword> wealth report. </li><li>India has new opportunities in manufacturing, infrastructure, tech and more, which will aid wealth creation, says Shishir Baijal, CMD of <keyword id="151748" type="General" weightage="50" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>. </li><li>Even as the number of <keyword id="109161" type="General" weightage="20" keywordseo="hnis" source="Orion">HNIs</keyword> and billionaires in India grew in 2022 from the year before, the number of <keyword id="2291394" type="General" weightage="20" keywordseo="uhnis" source="Orion">UHNIs</keyword> fell by 7.5%. </li></ul>As of 2022, India is home to 797,714 high-net-worth individuals (HNIs), or those whose asset value is at $1 million or more. Such individuals will double in number – growing at a massive 108% in the next five years to 1.7 million, estimates a report by Knight Frank. India’s ultra-high-net-worth individuals (UHNWIs), with net worth over $30 million are estimated to grow by 58.4% from 12,069 in 2022 to 19,119 individuals in 2027. India’s billionaires are expected to grow from 161 to 195 by 2027, says Knight Frank’s ‘The Wealth Report 2023’. “India’s hectic development activities in core and non-core sectors has helped accelerate economic growth in recent times. Aligned to that is India’s significant position as a global startup hub creating new wealth,” said Shishir Baijal, chairman and managing director, Knight Frank India. Added to that, India has new opportunities emanating from sectors like global manufacturing in India, infrastructure development, technology startups etc. According to Baijal, this will propel economic momentum and help the cause of wealth creation in the country, leading to the rise in the number of wealthy individuals in India. Wealth distribution in India <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2027 E </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HNIs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">809,666 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">763,674 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">797,714 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,657,272 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UHNIs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,529 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,048 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,069 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,119 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Billionaires </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">102 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">145 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">161 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">195 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Knight Frank Research Slowdown in global UHNI population Even as the number of HNIs and billionaires in India grew in 2022 from the year before, UHNIs dipped by 7.5%, tracking the global trend. In 2022, the global UHNI population fell by 3.8%, after it registered a record breaking growth of 9.3% in 2021. This is due to the strong economic rebound in 2021 and its quick reversal in 2022. The total wealth held by UHNIs also fell by 10% in 2022. “The fall last year in the total number of UHNWIs globally was due in large part to the weak -performing equities and bond markets. On the flip side however, 100 prime residential markets globally saw average price growth of 5.2% and luxury investment assets grew 16%, which helped steady the decline,” said Liam Bailey, global head of research at Knight Frank. In spite of the dip, the global UHNI population grew by 44% in the five years to 2022. “Although we forecast growth to slow to 28.5% over the next five years, the recent dip will prove short lived as we adapt to a new economic environment,” Bailey said. While the world’s UHNI population contracted last year, the number of high-net-worth individuals (HNIs) expanded by 2.9% to number almost 70 million worldwide – only Europe as a region saw HNI numbers dwindle. The number of billionaires meanwhile declined by 5% to 2,629. The report also says that the first four months of 2023 have seen the mood shift to that of greater optimism — improving the chances of wealth creation going ahead.

India’s super rich will double to 1.6 million by 2027: Knight Frank

<ul><li>Around 35% of Indian UHNIs saw their total wealth grow by over 10% in 2022. </li><li>Super-rich are defined as those who have an investable surplus of ₹25 crore or more. </li><li>Indian super rich had a better year than their global counterparts as only 40% of the latter could claim that their wealth increased in 2022. </li><li>Indian UHNIs allocated no funds towards crypto assets, unlike their APAC (1%) and global (2%) counterparts. </li><li>Only 4% of super-rich wealth went into passion investments with most of this going into art, watches and luxury handbags. </li></ul>Despite permacrisis, as many as nine out of ten super-rich Indians were able to grow their wealth in 2022, according to a report by Knight Frank. Super-rich or <keyword id="3268556" type="General" weightage="20" keywordseo="ultra-high-networth-individuals" source="Orion">ultra high networth individuals</keyword> (UNHIs) are defined as those who have an investable surplus of ₹25 crore or more. India’s super-rich in particular had a better year than their global counterparts – only 40% of the latter could claim that their wealth increased in the year that saw a Ukraine war-led supply chain crisis, big tech meltdowns and when the growth outlook for most nations was lowered by multilateral agencies. Around 35% of Indian UHNIs saw their total wealth grow by over 10% in 2022. “As India emerges as a market of opportunity which is expected to remain in growth mode despite an impending global slowdown, wealth held by UHNIs is expected to grow in 2023. The optimism of the ultra-wealthy on wealth generation here is far higher than their global counterparts and this shall serve as the bedrock of investment and consumption decisions,” said Shishir Baijal, chairman and MD at Knight Frank. The report titled The Wealth Report: Outlook 2023 used data from a survey of wealth managers, private bankers and family offices combined with industry experts. Indian respondents to the survey are also optimistic of the year ahead. “While 47% expect wealth (of the ultra-wealthy) to increase by more than 10%, 53% expect wealth to rise by at least 10% over the previous year. Globally, only 69% of respondents expect a rise in wealth and about 14% also responded to say that wealth will decline,” the report said. Where are the Indian super-rich investing? Equities, at 34%, attracted the highest proportion of investable wealth of Indian UHNIs in 2022. They also invested 16% of their wealth in bonds as they sought stability in an uncertain environment. Interestly, no investments from Indian UHNIs went into crypto assets even as those in the Asia-Pacific and globally pumped in 1% and 2% of their wealth, respectively, into them. A significant proportion of 25% was allotted to commercial properties, either directly through ownership or indirectly through funds. This includes directly in the form of assets, and indirectly via funds and REITs or real estate investment trusts. “The rise of commercial assets as an investment category with high allocation is a sign of improved confidence among investors towards India’s growth story,” the report said. But there is an unwavering love for residential properties amongst Indian super-rich as they own 5.1 residences on an average. This is much higher than 4.2 units for their global counterparts. About 14% of UHNIs purchased a home in 2022, and about 10% are expected to make a new home purchase in 2023. Indian UHNIs are expanding their orientation from the Asia-Pacific to more global markets in Europe, Middle East and Africa (EMEA) and Americas. On top of Indians’ choices is the United Kingdom, with 47% respondents showing affinity towards it. “The UK is a global gateway country and India has business and personal interest in that nation state, which has hugely propelled its popularity. Interestingly, the second spot was taken by UAE (41%), becoming a hot spot for Indians to invest. USA (29%) and Canada (18%) were third and fourth-placed destinations for investments in property,” the report said. Where are your passions? Only 4% of super-rich wealth made it to ‘passion-led’ investments. In this category, the most preferred are – art, watches and luxury handbags – with over half of the respondents showing an inclination towards these. The next favourite passion of the super-rich remains jewellery, followed by an equal amount of interest for furniture and wine. While rare whiskies took up the next spot, unusual pastimes like collecting coloured diamonds and coins are what a very small proportion of the super-rich are keen on spending their wealth on. SEE ALSO <a href="https://www.businessinsider.in/india/news/indias-richest-1-own-more-than-40-of-total-wealth-oxfams-survival-of-the-richest-report/articleshow/97018110.cms">India's richest 1% own more than 40% of total wealth: Oxfam's Survival of the Richest report</a> <a href="https://www.businessinsider.in/finance/news/realty-developers-positive-on-demand-keen-on-branded-homes-plotted-developments-credai-survey/articleshow/97025103.cms">Realty developers positive on demand, keen on branded homes &amp; plotted developments: Credai survey</a>

9 in 10 super-rich Indians get richer in 2022, confident of minting money in 2023 too: Knight Frank

<ul><li>Union <keyword id="19955368" type="General" weightage="100" keywordseo="budget-2024" source="keywords">Budget 2024</keyword> to be presented on July 23, 2024, at 11 am</li><li>Changes in the new <keyword id="19901478" type="General" weightage="20" keywordseo="income-tax" source="keywords">income tax</keyword> regime possible in the budget </li><li>Budget is a detailed estimate of the government's revenue and expenses</li></ul>Next week, Nirmala Tai will present the 2024 <keyword id="19908389" type="General" weightage="20" keywordseo="union-budget" source="keywords">union budget</keyword>. While the internet is already abuzz with the endless expectations of different industries and sectors, what the common man wishes for, and more, are we aware of how the budget comes to life in the first place? What do some of its terms like expenditure and revenue budgets even mean? And what exactly is the finance bill? If you have all these questions running through your mind, here's a ready reckoner for you, answering all your questions 1. Why should I care about the budget? Most of all, because it holds the answer to how your money will be taxed in the coming financial year, or years. Yes, you can (and perhaps will) choose to gloss over most of it, like when Tai talks about its capital expenditure or allocations made to various ministries. But you should know if there are any major changes introduced in the existing income tax slabs, because that would mean an automatic increase or decrease in your taxes. If there are some deductions or exemption that have just been introduced and can help you reduce your taxable income, you'd certainly want to use it to your benefit, wont you? (Unless you're a stickler for paying high taxes)! But for that, you should first know how your hard-earned money is being taxed, and that is why, you should tune into the <a href="https://www.businessinsider.in/budget/article/budget-2024-a-handy-guide-for-major-terms-around-the-upcoming-union-budget/articleshow/111688482.cms" data-type="tilCustomLink" target="_blank">upcoming union budget</a>. 2. What will happen to Income taxes in this budget? Will they be cut? We wouldn't know anything for sure until July 23rd, but there is news that the new tax regime might be made more attractive for the salaried class by way of increasing the <keyword id="20429578" type="General" weightage="20" keywordseo="standard-deduction" source="keywords">standard deduction</keyword> threshold (which is currently Rs 50,000 for both old and new regime), or by raising the total deduction limit under the old regime from the present Rs 2,00,000. Akhil Chandna, Partner at Grant Thornton Bharat also believes enhancing the standard deduction limit will do a world of good to salaried Indians. "With the introduction of the standard deduction in 2018 and the last increase in 2019 from ₹ 40,000 to ₹ 50,000, it is essential to raise the threshold to ₹75,000 now to align with current living costs and inflation. Raising the standard deduction can help improve people's purchasing power, especially those with fixed incomes like pensions", he said. Krishan Mishra, CEO, FPSB India also wishes for the tax exemption limit under new regime be raised from Rs 7 lakh to Rs 10 lakh, since "it will be a crucial step to encourage savings and investments among the mid-income group and will provide much-needed relief to taxpayers". The government may make the new tax regime more lucrative by enhancing its basic exemption limit (up to which no income tax is payable) from Rs 3,00,000. But that's a lot of MIGHTS, that will have to wait the final bell till 23rd! 3. How is the Budget is prepared? It is a lengthy, long-drawn process, which starts with the finance ministry asking all departments, states, ministries and union territories to give them an estimate of how much money they'd potentially need during the year. In addition to this, they also have to present details of all their revenues and expenditures in the past year. Then begins a super duper long process of consultations and discussions and deliberations and consultations and dialog (you get the gist!), after which the allocations are made. Weeks before the budget presentation, the <keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">finance minister</keyword> also meets representatives from various industries like agriculture, trade, manufacturing and more to know what they want. Based on that, the budget is fine tuned. 9-10 days before the budget is to be presented in the parliament, a halwa ceremony takes place, which commenced today, marks the start of budget printing. From this time on, the finance ministry staff goes super hush-hush and in lockdown, with no one allowed to leave the ministry premises till the budget is tabled in the parliament. 4. Why did India have 2 budgets this year? Because 2024 was an election year. That is why you saw an <keyword id="547606" type="General" weightage="20" keywordseo="Interim-budget" source="Orion">interim budget</keyword> in February, where the government presented a budget, the aim of which was just to fund its regular expenses and spending over the next 2-3 months, till elections. After the elections, it is the responsibility of the newly elected government to prepare a full-fledged budget. Think of this as borrowing from your friends just to fund your mid-month, small term, interim cash crunch. You pay them back as soon as you get your salary, and your budget is set again (at least for the time being!) 5. What are the various types of budget documents The union budget is a hefty set of documents! There's Annual Financial Statement, which lays out how much money it needs in revenue, and how much does it plan to spend that during the year. There's demands of grants, which tells us how these receipts and expenditures will be utilised by different ministries and departments, down to each scheme. There's the finance bill, which outlines any changes the government intends to make, in order to raise these proposed funds. This primarily includes change in tax structures. Then there is appropriation bill, which highlights how the government plans to withdraw money from the consolidated fund of India (where all of government's revenue from income tax, customs and excise and other sources flow in). Once approved, both finance and appropriation bill become acts. The extremely complex sounding "medium term fiscal policy cum fiscal policy strategy statement" has all your important macro- economic indicators like GDP, fiscal deficit, revenue deficit, primary deficit and more. But of course, you can skip through all this to just check out budget at a glance and highlights, which presents the key features and decisions made in the budget in a concise manner. <h4 style="color: rgb(0, 0, 0); font-family: Mulish, sans-serif; font-size: 16px; white-space-collapse: preserve; background-color: rgb(255, 255, 255); text-align: justify;"> </h4>6. What is a revenue and <keyword id="2745241" type="General" weightage="20" keywordseo="expenditure-budget" source="Orion">expenditure budget</keyword>? Think of this as a detailed breakdown of how the government plans to raise money for everything during the year by of tax or non-tax revenues, borrowings and more. The <keyword id="425836" type="General" weightage="20" keywordseo="revenue-budget" source="Orion">revenue budget</keyword> also outlines how much revenue the government had to forego to fund various tax incentives or subsidies. There's no chance you wont spend what you've earned! And so, how the government plans to spend its receipts are mentioned in the expenditure budget. It highlights what each ministry gets, how much money will be spent on a certain scheme and more. 7. What is a populist budget? No, its not another budget document, but just a fancy name for a budget that is prepared with the sole intention to appeal to the people by slashing down income taxes, increasing subsidies and spending more on social schemes. Such a budget might seem lucrative in the short run, but it do not contribute to the country's long-term economic development in any way. On the contrary, it only adds to the overall fiscal burden of the country. Its as if a character came in for a short cameo in your favorite series, won people's hearts, and then vanished into thin air, with no meaningful contribution to the story line. You'd feel short-changed, wont you? So, time to listen to Nirmala Tai and the budget's humdrums with some understanding and interest! Also read: <a href="https://www.businessinsider.in/budget/news/budget-2024-how-will-budget-affect-indias-position-in-the-global-space-race/articleshow/111855546.cms" data-type="tilCustomLink" target="_blank">Budget 2024: How will budget affect India’s position in the global space race?</a> <a href="https://www.businessinsider.in/budget/article/despite-pandemic-and-growing-health-scares-indias-budget-share-for-healthcare-continues-to-decline/articleshow/111807009.cms" data-type="tilCustomLink">Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline</a>

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