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While real estate and stock market are the most preferred personal investments for high-net-worth Indians (HNIs), the most popular Indian liquor brand for them is Old Monk, a new Hurun India report said on Thursday.
The UK is the most preferred overseas investment destination, followed by Singapore, for rich Indians.
More than one fourth said that their investment philosophy for this year will be “avoiding risk,” said the “Hurun Indian Luxury Consumer Survey 2019”.
“Increase in opulence and the rising millennial population in the country, investment into luxury products and service would witness an upward trend,” said Anas Rahman Junaid, MD and chief researcher of Hurun Report India.
“If India’s GDP doubles in the next 4 years, that will have an impact on the number of new millionaires in the country – resulting in a direct impact on luxury spending and investments,” he added.
The “Hurun India Rich List” features 831 richest Indians.
“Watches top the “most popular gift for men” list. Electronics ranks second and Wine and Imported Spirits third in most popular gift for men.
Jewellery takes the first position in most popular gifts for ladies and accessories and gift cards take second and third positions respectively.
Among collectibles, Indian HNIs prefer to spend the most on art.
“Newspaper followed by TV are the preferred choices for HNIs to access information,” said the report.
Real estate is the most preferred investment asset class for high-net-worth individuals.
Nearly 31.07 per cent of respondents believe that their investment allocation towards real estate sector will grow in the next two years, while 49.51 per cent said that the investments into real estate will retain status quo and remainder respondent group believed that it would decline.
Visa/ Master Card based credit/ debit cards are the most preferred mode of payment among the HNIs.
Nearly 17 per cent of the respondents use cash for daily payment and the use of E-wallet among
HNIs stands close to 9 per cent, the report added. (IANS)
By Quaid Najmi
Junking an empty chips packet, a water bottle or a juice can make Haribaabu Naatesan scowl and perhaps even pick it up carefully -- for, it could be a future piece of 'artwork' in his creative mind. The Mumbai-based artist specialises in recycling all kinds of 'kabaad' (junk) -- organic, inorganic, metal, wood, plastic, e-wastes and even bird feathers -- to create some eye-popping masterpieces of artworks, stupefying the beholder.
Naatesan, 46, collects a staggering 6 tonnes -- or 500 kgs per month -- of all types of oddments as his cheap or virtually free raw material and then deploys his creative juices to convert them to treasured and coveted showpieces. The weird passion for the rejects came out of a dire need -- to secure admission to the prestigious NID, Ahmedabad, for a postgraduate course (2000 batch).
"I had no money for purchasing expensive raw materials to make an attractive art project, a prerequisite for the NID seat... So I just picked up some trash lying around, created a daddy long-legs (spider) and other creatures as my 'offering' for admission," chuckled Naatesan. Needless to say, the selectors were zapped - and 'wasted' no time in awarding a prized seat to the new-found genius on the campus - who promised to be a valuable future asset for 'Save the Planet' efforts.
Naatesan, 46, collects a staggering 6 tonnes -- or 500 kgs per month. | IANS
From January 25, Naatesan will unveil a major public exhibition at Jehangir Art Gallery, Mumbai, of a dozen stunning designs made entirely from e-waste -- already ranked as a major global nuisance. Titled "Irreversible 2.0 - Obsoleteness is Mukti" there are innovations, with certain interactive surprises in store for the unsuspecting visitors. "When any viewer approaches it, one or other static component springs alive and moves... Some have light sensors that glow when someone is close. In others, discarded CPU fans start rotating, and huge antique tape-recorder cassette wheels start churning if someone goes near," explained Naatesan with a glint.
The dozen arts to go on display are entirely created from e-scrap like motherboards, CPU cooling fans, CDs, floppy discs, laptop keyboards, tape-recorder cassettes, speakers, etc., 6x6 feet dimensions, around 50-60 kgs each, and took up to six months' tough labour to fructify. Some of his other mega-creations include a 800-kg Lord Ganesh idol made from alum, a Volkswagen's Think Blue campaign resulting in a Beetle car made totally from e-scrap.
From January 25, Naatesan will unveil a major public exhibition at Jehangir Art Gallery, Mumbai. | IANS
Then, there's the magnificent 'Make In India' logo of a 3-dimensional Lion -- commissioned by the Bombay Iron Merchant Association -- which stands on a pedestal at P.D'Mello Road, and a Golden Spiral for the Raheja Groups at Bandra Kurla Complex. There's his biggest creation from waste till date -- a stupendous 17-metre long, 6-metre-tall whale, born from 10 tonnes of automobile junk -- standing on the Gujarat Science City campus.
Fortunately for Naatesan, his wife, Dahlea H. -- a graphic designer -- did not 'junk' him after his love for the junkyard came to the fore, and now their 10-year-old daughter Neinyaa H. has taken the first steps to save the Earth by carefully disposing off even choco-wrappers -- as her Papa beams with pride. Contrary to perception that he goes hunting for 'kabaad', it's the reverse now, given his reputation for hoarding it -- all junk comes to him, even from his housing society, and he recycles it all into unrecognisable art-forms.
'Make In India' logo of a 3-dimensional Lion -- commissioned by the Bombay Iron Merchant Association. | IANS
"Once, the TV remote at home went missing... My wife suspiciously asked me whether I had 'junked' it... Well... I admitted the truth..." laughed Naatesan, explaining his obsession for any unwanted things lying around at home, garden, roadside, etc., and he devises ways to give it 'mukti' (salvation). "When I recycle any unloved junk into art, it ends the recycling and 'liberates' them in the sense that those pieces now find an eternal place for themselves," said Naatesan, summing up his cranky but eco-friendly and money-spinner profession. (IANS/ MBI)
(Keywords: Crores , Kabaad, Artworks , Creator, haribaabu-naatesan, junk, salvation eco-friendly, profession, make in india)
By Ganesh Bhatt
Lawyers are facing great difficulty in keeping client details organised during the pandemic. | Unsplash
"It was then that I conceived the idea of creating an app to find a solution to this problem. I decided to use my knowledge of coding and build an app so that my father and other lawyers like him could also handle and share their documents easily. Through 'E-Attorney', they can also keep clients informed. I first created a prototype for this app, which had the facility for lawyers to sign-in, enter client details, and store basic case related information."
However, what started as a small coding project, grew into a passion project when Kanishkar won a competition held by WhiteHat Jr, an online learning platform for children, and was awarded a scholarship to develop the app. The scholarship money helped Kanishkar's parents transform 'E-Attorney' into a full-fledged child-driven enterprise. To take their kid's idea further, they formed a company called PRK Online Solutions and hired a professional tech team to improve the app, so that it could be developed from a prototype to a web application that could be used by lawyers across the country.
Kanishkar started his entrepreneurial journey by testing the app with five lawyers to ensure everything runs smoothly. Currently, he is focusing with his tech team to fix bugs and glitches. Since this application will store sensitive information related to legal matters, it will require a number of security measures.
A lawyer, K. Mohan K., who is testing this app, while talking about the experience, said: "I have been using this web app for a few days now. The private chat feature between the lawyer and the client is very useful. Its second advantage is that many searches can be done in it. Lawyers can keep track of their cases easily through this app." (IANS/ MBI)
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By- Nanci SEO
Now we're into 2022, the anticipation for a new racing season is hotting up even more.
By the time the world focuses its gaze on Ascot in mid-June, records will have been broken, and new winners will have been celebrated in the other meetings such as the Grand National. However, there's nothing quite like the Royal Ascot meeting and the historic Ascot Gold Cup race, which has been running since 1807. The race is the first leg of the triple crown of thoroughbred racing in the UK, making it one of the most important on the racing calendar.
The meeting is held at the course, which is just 28 miles west of London and only a few miles from the residence of the British Royal Family, Windsor Castle. It's also been an event that the monarchy of Britain has often visited and had a personal interest in. Not only has the Queen of England long been a visitor to the racing at Ascot but she's also had the honour of having a winner of her own at the meeting as noted by Town & Country. Will there be another Royal victory this year? Let's look at some of the favourites for the headline race, the Gold Cup.
The six-year-old gelding's pedigree means he's a real threat to all his other riders at Ascot this year. Trueshan has previous experience of winning the course; he won in 2020 at the British Champions Long Distance Cup, with his jockey Hollie Doyle commenting, 'he went through the ground like a tractor, he loved it.' Going into 2021, he was much fancied after looking strong in the lead up to the meeting but was pulled when his trainer Alan King deemed the ground to be too firm. He had a successful season, winning the Goodwood Cup and the Prix Du Cadran in France in October. So he's in fine fettle going into 2022, does that mean it's finally his year to taste Gold Cup success?
The Irish thoroughbred has become a name synonymous with Royal Ascot over the past few years with a record that's the envy of many a trainer, and this year, the target is to equal a record set by one of the greats of racing. Ridden by Frankie Dettori, Stradivarius has won three of the last four Gold Cups and is already second favourite in the Coral Gold Cup markets for a fourth. Four wins at the Gold Cup is a feat that has only been achieved once before by Yeats, a fellow Irish thoroughbred. Although last year wasn't to end with the record-equalling run he was aiming for; he's keen to be back this year as his owner, Bjorn Nielsen, says he can't wait: "He's as enthusiastic as ever, which is quite amazing."
Last year's winner of the Ascot Gold Cup is again in the frame for a win; last year, with veteran jockey Joe Fanning in charge, Subjectivist ran the perfect race, by first maintaining pace with the leading pack going into the final corner before striding majestically to a win, leaving the likes of Stradivarius in his wake, and adding to his win in the Dubai Gold Cup earlier in the year. Fanning wasn't surprised by the success as the four-year-old got on with the job at hand. "I just find he's a horse you don't complicate things with; if there's something in front, let him go," he said.
(Disclaimer: This is a sponsored article and includes some commercial links.)