Latest news with #SumeghBhatia
Hans India
21-04-2025
- Business
- Hans India
Single family offices in Asia-Pacific to reach 3,200 by 2030, India a bright spot
New Delhi: In the Asia Pacific region, single-family offices have grown to 2,290 (surged by 28 per cent since 2019) and the region is expected to outpace North America moving forward, growing 40 per cent to reach 3,200 offices by 2030, a report showed on Monday, adding that India is undergoing a similar evolution. A growing number of ultra-high-net-worth individuals and startup founders in the country are turning to institutional family office structures to manage wealth and succession planning, according to a white paper by Lighthouse Canton, a global investment institution. According to a recent industry report, the number of family offices in the country has grown nearly seven-fold over the past six years, rising from 45 in 2018 to close to 300 in 2024. The nation's booming startup ecosystem and generational wealth transfer are fuelling this growth, with many Indian families increasingly seeking institutional-grade investment strategies and governance solutions, said the report. 'India's family office ecosystem is standing at a defining threshold. As families evolve in their investment outlook and prepare for generational transitions, the demand for institutional frameworks has become essential,' said Sumegh Bhatia, MD and CEO, of Lighthouse Canton in India. This isn't just about managing assets, but it's about building long-term structures aligned with purpose, governance, and stewardship. 'We believe family offices in India will increasingly shape the country's capital markets, entrepreneurial ecosystem, and philanthropic landscape,' said Bhatia. This also underscores the growing importance of AI and digital innovation as critical tools for multi-family offices to remain competitive. As new family office patrons continue to emerge in Asia, digital transformation is expected to become indispensable by 2028. The whitepaper explored key elements of an institutional approach for families including how these family office models can benefit families in creating structured and scalable investment and specialist services, attracting and retaining best-in-class talent and using technology effectively and efficiently to enhance and consolidate reporting for multi-asset portfolios, manage risk, and increase transparency for families. It also explored about navigating evolving risk and regulatory requirements across multiple jurisdictions and global asset allocations.
Gulf Today
04-04-2025
- Business
- Gulf Today
India's economy likely to grow by 6.7% in FY26 on cyclical recovery
India's economy is set to grow at 6.7 per cent in FY26, driven by a cyclical recovery and steady market performance, a new report said. Cyclical recovery refers to the phase in an economic cycle that follows a recession or slowdown, during which economic activity, consumer spending, and business investments start to rise. Over the past five years, India has witnessed strong earnings growth, with the NIFTY index recording a 20 per cent compound annual growth rate (CAGR), according to a Lighthouse Canton report. As the economy moves forward, the next phase of growth will depend on key factors such as government capital expenditure, tax benefits for the middle class, and improved consumer demand. These elements are expected to support earnings recovery and market confidence in 2025, the report said. India's investment-led expansion has played a crucial role in economic growth. While the government continues to focus on fiscal discipline, private sector investments are expected to gain momentum, contributing to long-term stability. The Reserve Bank of India's recent 25-basis-point rate cut - the first in nearly five years - signals a supportive stance for economic growth. 'India's economic engine continues to offer long-term promise, however, 2025 will require greater selectivity and discipline,' said Sumegh Bhatia, Managing Director and CEO of Lighthouse Canton in India. He added that the investors will need to navigate shifting cycles, watch for inflection points in earnings, and remain anchored in fundamentals as the global order undergoes further transformation. On the global front, market trends and currency movements will influence India's financial landscape, as per the report. The strength of the US dollar and rising global trade activity are shaping investment flows, while gold remains a preferred asset due to its resilience amid global uncertainties. 'Additionally, crude oil prices are expected to remain stable, benefiting India's import-dependent economy,' the report noted. In 2025, the focus remains on sustainable growth, disciplined market strategies, and long-term investment opportunities, it added. Meanwhile India said on Thursday it was studying the impact of the 27 per cent tariff slapped by the US on its imports and vowed to push for a trade deal this year, signalling a conciliatory tone despite failing to get relief from President Donald Trump's trade policy. New Delhi's response came hours after Trump announced the drastic tariffs that piled more stress on an ailing global economy and sent world stock markets and oil prices tumbling. While Trump said Indian goods will face a 26% tariff, the White House executive order put the rate at 27%. India's trade ministry too put the rate at 27%, citing the executive order. A 10 per cent baseline tariff starts on Saturday before the remaining, higher reciprocal tariff takes effect from April 9.
