80% Of Global Indians Investing In India, With Two-Thirds Planning To Increase Their Investments To Promote Positive Change And Support COVID Recovery

Pune, 18 November 2021: HSBC has launched its first ever ‘Global Indian Pulse’ report, delving into what drives the connection between Global Indians and India. The Indian diaspora is the largest migrant population in the world and yet there is limited data looking at how they view the countries where they live, and also the strength and importance of their connections back to India.

Building on its 155-year relationship with India, HSBC’s first edition of The Global Indian Pulse is the most comprehensive cross-border study into Global Indian attitudes of its kind. HSBC surveyed over 4,152 people aged 18 and over in nine markets. It provides compelling evidence and new understanding of the emotional and financial contribution that ties three generations of Global Indians to both India, and to the countries that they were either born in, live in, or have settled in.

Raghu Narula, Head of Wealth & Personal Banking, HSBC India, said, “It is widely acknowledged that Global Indians make an enormous contribution to the prosperity of countries all around the world. Our report highlights the strength of their emotional and financial connections with India. It helps bring to life the personal perspectives which show how they benefit from the impressive soft power of India day in, day out, through things like sport, food and the contribution of Indians across the world in politics, science and economics

“The Global Indian Pulse shows how these connections result in global flows of people perspectives, and ideas, all of which are making a positive difference to the economic development of India and the rest of the world. At HSBC our goal is to open up a world of opportunity for our customers in India and beyond.”

Key findings:

Nearly 80% per cent of Global Indians surveyed are making investments in India – compared to 85% in their country of residence – and 56% have increased their investments, in India, in the last three years. Sustainability plays a major role in investors’ decision making, with more than three quarters (76 per cent) of Global Indians saying environmental and social initiatives such as renewable energy and skills development are a key part of their decision making when investing in India.

The pandemic has driven a change in attitudes towards investment in India, with 72 per cent of Global Indians surveyed saying the pandemic has made them feel closer to friends and family in India. And a third (36%) of those already investing in India saying they have proactively increased their investments in India with the aim of promoting positive change whilst 29% are increasing their investment in India with the aim of supporting the India’s COVID recovery. This commitment is just as high among third generation Global Indians, with 63 per cent making the decision to increase their investments, despite having never lived in India.

The report examines whether Global Indians plan to either return or live in India in the future, and while just four per cent of Global Indians surveyed have never visited India, three fifths (61 per cent) report they are planning to live in India at some stage in their lives. This is not necessarily a permanent move though, with over three quarters (78 per cent) of second generation and more than four fifths (85 percent) of third generation Global Indians saying they still plan to retire in their current country of residence.

Global Indians maintain strong connections back to their homeland regardless of whether they are first, second or third generation. More than three quarters (77 per cent) of respondents said they felt a strong connection with India, and four fifths (80 per cent) said they are very interested in the future success of India.

Even for those who have never lived in India, the connection remains strong, with third generation Global Indians feeling just as attached to India as those who were born there. The data reveals that while first (69 per cent) and second generation (52 per cent) Global Indians put their family at the top of the list they miss about India, third generation Global Indians have a different perspective, with more saying the miss food (42 per cent) and the culture (39 per cent) more than they miss family (30 per cent).

ADVT