Mumbai Family Office

Mumbai Family Office

India has emerged as one of the fastest-growing economies in the world (sixth-fastest by one estimate).  This boom has created a lot of wealth and attracted a lot of investment in the country, which in turn has created more wealth as businesses expand.  Mumbai has been at the center of all this wealth as it is the financial capital of India and home to many wealthy families and individuals.  The following free guide to Mumbai Family Offices will help you better understand Mumbai family offices and provide you with resources to learn more about Mumbai  family offices. You should also check out our 100% free book on family offices.

Introduction to Mumbai 

Mumbai is the financial capital of India, home to many international businesses and many of the country’s wealthiest families and individuals.  There is a lot of commercial and financial activity in the city and it is very welcoming of foreign business professionals and investors.

More generally, here is some information on India and how its economy has grown.  If there was any wonder that India has joined ranks of other economic powerhouses around the world, the country has the 10th  largest economy in the world in terms of nominal GDP and the 4th largest by purchasing power parity.

The CIA provides a good summary of India’s recent transformation to embrace free markets and its fast recovery from the global financial crisis.

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country’s growth, which has averaged more than 7% per year since 1997.

India’s diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India’s output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis – in large part because of strong domestic demand – and growth exceeded 8% year-on-year in real terms.

Why Mumbai?

Mumbai serves as the premier destination for those looking to invest and do business in Mumbai.  Due to its economic and financial successes, Mumbai also is home to a high number of wealthy families and individuals who might require family office and wealth management services.  Already there is a fast-increasing number of high-net-worth individuals and wealthy families.  With the economic growth will certainly come a boost in investible capital among India’s wealthy.  India’s growth potential has also attracted a great deal of foreign investments that will help expand businesses and likely boost the economy further.  This makes India an ideal prospect for family offices and wealth management firms.

Family Offices in Mumbai 

The number of high-net-worth individuals (HNWs) has grown impressively leading to a similar rise in Multi-Family Offices. India had the second-highest increase in high net worth individuals in 2006 and 2008. India now has an estimated 84,000 families with net assets of at least $1 million (roughly Rs 5 crore). Family offices have emerged as a helpful way to manage that wealth.  In the coming years, family offices will continue to grow in India along with its economy.  Mumbai will be at the center of this growth and we expect more family offices to gravitate toward the city or at least have some presence in Mumbai to serve the growing number of ultra-wealthy individuals and families.

The following is a collection of Mumbai family office resources:

Mumbai Family Office Resources Guide

Mumbai Family Office Resource #1: Here is an article titled, “Choosing the Best Family Office Mumbai.”

Mumbai Family Office Resource #2: This article was written about the problems facing India’s wealthy families and individuals.

Mumbai Family Office Resource #3: If you are looking for contact details of family offices places such as Mumbai you may want to consider using a Family Offices Database.  A Family Office Database provides you with the complete contact details for 100′s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format.  Learn more about this by clicking here.

Mumbai Family Office Resource #4: Here is our guide to family offices in India.

Mumbai Family Office Resource #5: This article explores the trend of more and more family offices opening up in India.

Mumbai Family Office Resource #6: Here is a networking group for family offices in Mumbai.

Mumbai Family Office Resource #7: This article explains how Family Offices Gain Popularity Among India’s High Net Worth Individuals.

Are you an employee or manager of a family office in Mumbai?  Then we’d like to keep in touch with you.  Simply send us an email at Richard@RichardWilsonCapital.com

Be sure to check out FamilyOffices.com for our family office database and our free book on family offices.

Related Resources

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