Client Associates (CA), India’s leading private wealth management firm, successfully organized a session titled “India@2030: Investment Horizons” under its financial awareness initiative #WealthWiseWithCA. The power packed session focused on assessing the investment horizons for next 5 years following the Budget 2024 announcement made on 23rd July 2024, by the Finance Minister of India. The session saw huge participation of High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNIs).
The event featured prominent speakers including Mr. Nilesh Shah, Managing Director of Kotak AMC, Mr. Himanshu Kohli, Co-founder of Client Associates, and Mr. Amarjeet Makhija, Partner at PWC. The discussion was moderated by Ms. Aprajita Sharma, Senior Journalist and YouTuber.
The session covered various speculations and insights around the budget announcement, particularly focusing on its impact on the HNI and UHNI space, start-up investments, alternate investments, mutual funds, and the market.
Mr. Nilesh Shah – Managing Director and Group President, Kotak Mahindra AMC said, ” One of the standout aspects of this budget was the government’s commitment towards fiscal consolidation, aiming to bring the primary deficit down to 0.5-0% by 2027-28. This approach is expected to significantly reduce the cost of capital in India, which will support sustainable equity valuations and provide ample capital for private entrepreneurs to invest and grow their businesses.” He further added, “The global trends are also propitious for investments as India became a part of Global MSCI index. This in turn, indicates the increasing interest of foreign investors in India.”
Himanshu Kohli, Co-founder, Client Associates said, “Recent developments suggest promising improvements for India’s financial landscape. As we aim for a $10 Trillion mark and anticipate significant returns—around 12% in INR and 9.5% in USD—the potential for market doubling within eight years highlights our growth trajectory. Enhanced credit ratings will facilitate better borrowing conditions and attract more investors, boosting overall market efficiency and portfolio profitability. Currently, only about 2% of the population files tax returns, starkly below the international norm of 50–70%. Addressing this, the government is simplifying tax laws and enhancing compliance measures. Expanding the tax base to include 15-20% of the population and improving the user-friendliness of the tax system will be crucial for sustainable economic growth and greater tax compliance. Digitalization will further support these efforts, making the tax system more accessible and efficient.”
Amarjeet Makhija, Partner, PwC said “In the changing landscape of taxation, the latest tweaks to capital gains tax rates show a big move to push long-term investing. By widening the gap between short-term and long-term tax rates, the government wants to create a more stable environment for investments and boost savings. This step is in line with the bigger plan to guide the economy to lasting growth. While market volatility and fluctuating tax policies can pose challenges, investors are advised to carefully consider their financial goals and risk appetite. The path shown by recent policies hints at a positive trend towards steady taxes and a more even way to handle capital investment.”
The session concluded with a networking opportunity over drinks, allowing attendees to engage with the speakers and discuss further.
