Global rich list: Indians one of the WEALTHIEST

A research company, TNS, has unveiled the results of the biggest global study into the attitudes and investment priorities of the affluent – painting a timely picture of wealth, post global recession.

Based on interviews with 12,000 people across 24 markets including China, Brazil and India, TNS’s Global Affluent Investor study shows that the growth of developing economic powerhouses is already starting to impact personal fortunes, among households with more than $100,000 investable assets.

Fundamental social shifts are unearthed when examining the demographics of the world’s affluent.

While they average 57 years old in North America and Northern Europe, this falls to the early 40s in Australia, Singapore and Hong Kong.

While men are the primary decision makers among affluent households in India (80 per cent) and Central Europe (79 per cent), the balance is spread far more evenly in North America (45 per cent).

TNS’s findings also demonstrate regional contrasts in terms of what the affluent actually invest in.

While the Chinese, Indian and German affluent are keen investors in precious metals (cited by 35 per cent, 33 per cent and 23 per cent of respondents respectively), this falls to just three per cent in Sweden, Norway and the Netherlands, and two per cent in Denmark and Israel.

Read more »

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Indian-born artist makes it big, eyes India

TORONTO: Indian-origin Gary (Gaurav) Taxali, who has made a big impact in the art scene in the US, Canada and Europe, says showcasing his works in India is his ultimate dream.

The impact of this Chandigarh-born artist can be gauged from the fact that the New York Times, Rolling Stone, Esquire, Time, Newsweek, Fortune, Reader’s Digest, Warner Bros, Paramount Pictures, Sony, MTV, and Coca Cola are among his major clients.

Famous US art director Steven Heller has paid him the ultimate compliment.

” Gary Taxali visually blends now with then. His style, inspired by vintage comics and advertising art, is repurposed with the goal of communicating the ironies and comical essence of popular culture. His work is at once alluring and endearing. Despite the vintage look, he is neither maudlin nor nostalgic. His imagery is rich in satiric verve,” Heller said.

An artist for all seasons, Taxali uses multiple media – ink, oil, acrylic, enamel and gouache – and a number of surfaces – paper, plywood, steel, aluminum – to create comical and serious works. Read more »

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India Conquers the World

“Little India” in Jackson Heights, Queens New York.

After a long eclipse, an ancient country finally returns as a force in global business and culture.

From the exclusive Club Lounge on the 19th floor of Singapore’s Mandarin Oriental, Anish Lalvani gazes out at the city’s skyline, a dazzling array of glass and steel and vertical ambition. The Lalvani family has come a long way since the days when Anish’s paternal grandfather, Tirath Singh Lalvani, got his start in business by retailing medicines to King George VI’s soldiers in Karachi. Back then the city was a part of British colonial India—until independence arrived in 1947, and its inhabitants suddenly found themselves amid the bloody turmoil of the newborn Pakistan. The Lalvanis, like millions of others on both sides of the border, fled for their lives. But instead of making new homes in present-day India, the Lalvanis sought their fortunes abroad. Today the family’s Hong Kong–based Binatone Group employs some 400 people on four continents. “We couldn’t break the old boys’ network,” says Anish. “But overseas we created our own.” Read more »

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Hindujas may buy foundry in Europe for expansion

After a couple of years of slowdown, Hinduja Foun­dries, part of Hinduja group, is back on the growth path and the company is contemplating buying a foundry in Europe besides expanding the domestic production capacity.

“In 2007-08, we were looking at acquisitions abroad aggressively. However, we couldn’t do that due to economic slowdown. We have been looking at three units — one in Latin America and two in Eastern Europe. But we are in dialogue with one unit in Europe at present,” B Swaminathan, managing director of Hinduja Foundries, said.

Indian companies have not been very successful in their acquisition of overseas foundries so far. Coimbatore-based Sakthi group, which acquired foundries in Europe during 2007 and 2008, became the victim of the global downturn and the units filed for bankruptcy in their respective countries. Read more »

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Migrate to Quebec – Quebec Selected Skilled Worker Visa

MIGRATE TO QUEBEC

Y-Axis launches Migrate to Quebec through Quebec Selected Skilled Worker Visa

The smartest way to migrate to Canada
No IELTS. No French. Less Funds.
More Occupations to choose from
Talk to a Y-Axis Immigration Consultant in your city today to see if you’re eligible.

Y-Axis is India’s No.1 and the World’s largest Overseas Career and Immigration Consultant

Process Time: 12 – 18 months

IELTS is currently not mandatory to apply. French is not a requirement if you comply with the other factors. Read more »

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How China and India will pay your bills

OK, send in the hate mail! I wrote an essay in this week’s magazine on how China and India will come to create jobs for Americans, Europeans, and just about everyone else, not “steal” them, as they are often accused of doing. I know at first reading, such an idea might sound completely ridiculous. China is sucking up manufacturing jobs from around the world. Indian engineers and IT specialists are battling it out with U.S. college grads for jobs in software development and R&D. With wages so much lower in China and India than in the U.S. and the rest of the developed world, how can the average American, Brit or Japanese ever hope to get a job offer?

My argument, however, is that the wealthier China and India become, the more and more jobs they will create globally. That will happen in two key ways. First, Chinese and Indian consumers and companies will become increasingly influential spenders in the world economy, providing new sources of demand and thus jobs. Secondly, Indian and Chinese companies will become ever greater investors around the world as they expand their operations globally, creating jobs wherever they go. I expand on this further in the magazine story, but I wanted to add a few extra thoughts here on how China and India will influence job markets, especially in advanced economies. Read more »

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Meet Naveen Tewari of inMobi

What’s the next big tech startup out of India, now that MakeMyTrip had a spectacular splash on NASDAQ? It could very well be a Kleiner Perkins deal – a made-in-India mobile ad network named inMobi.

What’s unusual about inMobi is the speed this Indian startup has gone global and claimed increasing market share against Google AdMop to become the world’s largest independent mobile ad network. inMobi is a good example of breakthrough startups that are emerging from India for the mobile Internet.

Founded in Bangalore by Harvard Business School graduate and ex-McKinsey consultant Naveen Tewari (see photo) in 2007, inMobi has leaped from India to international markets, deriving  more than 95 percent of revenues from outside India.

This global footprint could come in handy if and when inMobi goes public. Since the company has an offshore holding structure, it can go public first outside India – which likely means a NASDAQ IPO. Read more »

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Ajit Jain on giving. The opposite of his boss. And for a good reason.

Buffett, in India, said people should give. Do you personally follow that, in terms of charity, give away personal wealth?A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.

A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.

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Australia’s Victoria police inducts first turban wearing Sikh

MELBOURNE: Police in Australia’s Victoria state today inducted its first officer from Sikh community who will wear a newly designed police turban, a media report said today.

Australia’s Victoria police today inducted its first officer from Sikh community who will wear a newly designed police turban, a media report said today.

The first officer Constable Amitoj Singh who graduated from the Police Academy would wear a newly designed police-issue turban, featuring the service’s checker board pattern. Read more »

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9 out of 10 Indians ready to go overseas for jobs

NEW DELHI: As many as nine out of ten Indian employees surveyed are willing to move out for the right job, with people even ready to relocate to another country or continent, according to Kelly Services.

A survey by workforce solutions provider Kelly Services revealed that 89 per cent of Indian employees were willing to move out for the right job.

Of them, 49 per cent were prepared to relocate to another country or continent to get the job of their choice. About 39 per cent of the respondents were ready to move within the country, the survey, released today, said.

As per the findings, men are more willing to move out than women.

“In an environment where the market for talent is becoming global, there is a growing realisation that many individuals may have to relocate for work,” Kelly Services’ Managing Director Kamal Karanth said. Read more »

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