NRIs Shift Beyond Property: Global Equities, Private Markets and Fixed Income Gain Ground

Digital assets remain a limited allocation for most clients and are generally held alongside established investments, instead of forming a large part of the portfolio.

NRIs hold an estimated ₹15 trillion in the Indian economy, including about ₹10 trillion in deposits, ₹3 trillion in mutual funds and ₹2 trillion in alternative investments.

Remittances to India reached a record $135.46 billion in the 2024-25 financial year, providing a large pool of capital that can flow into deposits, shares, funds, property and private investments.

International diversification has not reduced demand for Indian assets, with many Global Indian families retaining a strong preference for investments linked to the country.

“While Global Indian families are increasingly diversifying internationally, they continue to have a strong home bias. India continues to feature prominently in their portfolios, driven by its long-term growth opportunities, entrepreneurial ecosystem and deep equity markets,” Sumaya said.

Investment options available to NRIs have expanded beyond bank deposits, property and listed shares. Alternative Investment Funds, private market deals and customised strategies are giving investors access to a broader section of the Indian economy.

GIFT City is also increasing the number of investment structures available to overseas Indians seeking exposure to India through an international financial centre.

Much of the wealth created by NRIs in the Gulf has come from family businesses and property, but a growing share is being placed in financial investments that can be accessed and managed internationally.

“The focus is increasingly shifting from fixed assets to liquid investments, and from local portfolios to global ones. That shift is accelerating the move towards more diversified, international portfolios,” Sumaya said.

Dubai and the wider UAE remain important centres for Global Indian wealth because of the concentration of entrepreneurs, senior professionals and family offices operating from the country.

Recent geopolitical uncertainty has increased conversations about portfolio construction, but Sumaya said the move towards global diversification had been developing over a longer period.

“This is a structural shift in how Global Indian families are thinking about wealth, not a short-term reaction to market events,” he said.

Families holding assets across the UAE, India and other jurisdictions are also paying closer attention to how their wealth will be managed and transferred.

Succession planning, trusts, family governance and cross-border ownership structures are becoming part of investment discussions as first-generation business owners prepare to transfer assets and control to their children.

“Increasingly, our conversations go beyond portfolio management to areas such as succession planning, trusts, family governance, multi-jurisdictional wealth structuring and access to private market opportunities,” Sumaya said.

The priority for established NRI families is increasingly to combine long-term investment returns with clear ownership structures that can protect wealth and support an orderly transfer between generations.