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The ranks of India’s super-rich – defined by having a minimum average net worth of 250 million rupees ($5.6 million) over the past 10 years – are estimated to have grown by 30% to around 81,000 in 2011-12, according to a new study. In fact, many of them interviewed for the study gave exactly the response that we used in the headline when asked how they were faring.

And their number is expected to triple to around 286,000 over the next five years, says the new Top of the Pyramid report by Kotak Wealth Management and ratings agency Crisil Ltd., released earlier this week.

Not only are these fine folks barely feeling the effects of India’s economic slowdown, they want you to know that they are untouched, too. “One distinct facet” of such a person, the report says, “is his lifestyle and he goes to great lengths to maintain it.”

“Our respondents did not seem to feel that the circumstances warranted any cutbacks in spending. In fact, many of them even justified the increase in expenditure, in absolute terms, by pointing out that the number of non-discretionary items too was on the rise, to support that lifestyle.” So, an iPad that was considered nice to have last year is now considered compulsory.

They also want to make sure that they stay well separated, in branding terms, from the likes of you and me.

They like Mercedes, BMWs and Audis (don’t we all) but having exclusivity in a car, or even in a model, is important. Mercedes is viewed as an older fat-cat’s car while BMW and Audi have a younger image. Advantage BMW and Audi then.

“The preference for cars that project a youthful image is growing steadily,” the report said.

Further, German cars are becoming extremely popular among younger buyers compared with the Japanese brands that last year were considered to be trusted for Indian roads.

Surprisingly, most super-wealthy individuals buy cars on loan to take advantage of tax benefits.

They usually own three or four cars, “keeping with their lifestyle” and they “prefer to change cars frequently, to remain in vogue and give [themselves] the opportunity to outshine peers,” the report says.

The most favored car of the super-wealthy individuals remains the sports utility vehicle, perhaps because of the “rugged image that it inspires, coupled with it being ideal for short family holidays in nearby locales,” the report adds. You know the ones: they drive up behind you on the Ring Road, flash their lights, honk their horns and expect you to get out of the way because they have more cc’s. Not that we’re bitter.

The survey was conducted in Indian cities of Mumbai, Delhi, Bengaluru Hyderabad, Chandigarh, Ahmedabad, Vadodara, Chennai, Pune, and Kolkata between last December and April this year by interviewing 150 uber rich individuals and a host of personnel at major global luxury brands, art gallery owners, product dealers and industry body representatives.


Over 50% of the super-rich are in the four metros of Delhi, Mumbai, Kolkata and Chennai and the next top six cities account for around 12%.

The net worth of ultra rich households in the country was expected to increase five-fold from 65 trillion rupees ($1.2 trillion) in 2011-12 to 318 trillion rupees ($5.78 trillion) by 2016-17.


Besides cars, the super-rich mostly spend on clothes, luxury watches, diamonds and gold jewelry, the report suggests. Designer apparel and accessories top their shopping list followed by vintage spirits and precious stones.

What Downturn? Ask India’s Super-Rich - India Real Time - WSJ
 
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Home loans up to Rs15 lakh get 1% cheaper

The government today extended by one year the 1% interest subsidy scheme on housing loans of up to Rs15 lakh, where the cost of the house does not exceed Rs25 lakh.

"When interest rates have risen, even 1% relief is a relief for the middle class and lower middle class," Home Minister P Chidambaram told reporters while briefing about last evening's Cabinet meeting.

The limit of subsidy for an individual borrower would be Rs14,912 for a loan of Rs15 lakh, and Rs9,925 for a loan of Rs10 lakh. The extended scheme will benefit all housing loans availed in the current financial year.

The Cabinet, chaired by Prime Minister Manmohan Singh, had yesterday approved extension of the scheme of the interest subvention of 1% on housing loans up to Rs15 lakh for the financial year 2012-13.

Chidambaram said a large number of people have benefited from the 1% interest subvention and "whoever borrows now will get the benefit of 1%".

A budgetary provision of Rs 400 crore has been made for the financial year 2012-13 for implementing the scheme. The National Housing Bank (NHB) is the nodal agency for implementing the scheme both for banks and housing finance companies.

In his Budget, the then Finance Minister Pranab Mukherjee had proposed to extend the scheme, announced in 2011-12, by one year in view of the shortage of housing for low income groups in major cities and towns.

Earlier, the interest benefit was given on loans of up to Rs10 lakh provided the cost of house did not exceed Rs20 lakh. In 2011-12, the government liberalised the scheme and increased the loan limit to Rs15 lakh and the cost of house to Rs25 lakh.

http://www.dnaindia.com/money/repor...sing-loan-interest-scheme-by-one-year_1710448
 
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159_66_6f7a87367f5c384.jpg


There is the growth translation of CNN prediction:

1) US growth (**=actual growth, xx=CNN prediction)

................................................................xxxxxxxxxxxxxxxxxxxxxxxxx
5%

4% ************************

3% ............................................ ********

2%
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017



2) Chinaese growth: (**=actual growth, xx=CNN prediction)

22% ............................................*****

18% **********************

14%

10%

6% ......................................................xxxxxxxxxxxxxxx(CNN)
--------------------------------------------------------------------------------
..... 2000.................................2010, 2011, 2012, 2013,,,,,,,2017




3) Indian growth (**=actual growth, xx=CNN prediction)

10% ...............................................................xxxxxxxxxxxxxxxxxxxxxx(CNN)

8%

6% ************************

4%

2%

0% ............................................................ ********
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017
 
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June PMIs show China slowdown continues, India pushes on

The FINANCIAL - June PMIs show China slowdown continues, India pushes on


HSBC number on China is always a few points below the Chinese official report number.
48 point from HSBC was actually not too bad from history.
even in 2010, Chinese growth was very strong, British HSBC gave 49, 50.
I believe those British number are clueless about China.
I rather to read Russian fake up number on US and EU,,


=========== old news from Google===========


HSBC China June PMI slips to 14-month low of 50.4 | Reuters
in.reuters.com/article/2010/07/01/idINIndia-49795920100701 - India
Jul 1, 2010 – BEIJING (Reuters) - HSBC's China Purchasing Managers' Index fell in June to a 14-month low of 50.4 from 52.7 in May as output and new ...

HSBC China Manufacturing PMI November 2010 | china ...
rightsite.asia/en/.../hsbc-china-manufacturing-pmi-november-2... - China
Nov 1, 2010 – HSBC China Manufacturing PMI Chinese manufacturing sector operating conditions continued to strengthen at the start of the final quarter, with ...

HSBC's China July PMI drops to 16-month low of 49.4 | Fox Business
www.foxbusiness.com/.../2010/.../hsbcs-china-july-pmi-drops-month...
Aug 1, 2010 – BEIJING, Aug 2 (Reuters) - HSBC's China Purchasing Managers' Index fell below the boom-bust line of 50 in July for the first time since the ...


China's July PMI to fall to 28-month low: HSBC
news.xinhuanet.com › Home › China
Jul 21, 2011 – This month's reading marks the first time for the index to drop below 50 percent since July 2010, HSBC said. China's official PMI data, compiled ...
 
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159_66_6f7a87367f5c384.jpg


There is the growth translation of CNN prediction:

1) US growth (**=actual growth, xx=CNN prediction)

................................................................xxxxxxxxxxxxxxxxxxxxxxxxx
5%

4% ************************

3% ............................................ ********

2%
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017



2) Chinaese growth: (**=actual growth, xx=CNN prediction)

22% ............................................*****

18% **********************

14%

10%

6% ......................................................xxxxxxxxxxxxxxx(CNN)
--------------------------------------------------------------------------------
..... 2000.................................2010, 2011, 2012, 2013,,,,,,,2017




3) Indian growth (**=actual growth, xx=CNN prediction)

10% ...............................................................xxxxxxxxxxxxxxxxxxxxxx(CNN)

8%

6% ************************

4%

2%

0% ............................................................ ********
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017

all i can say is lol.dont judge the GDP by growth rupee depreciation has its role.those numbers are gonna turn out wrong when rupee appreciates again
 
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159_66_6f7a87367f5c384.jpg


There is the growth translation of CNN prediction:

1) US growth (**=actual growth, xx=CNN prediction)

................................................................xxxxxxxxxxxxxxxxxxxxxxxxx
5%

4% ************************

3% ............................................ ********

2%
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017



2) Chinaese growth: (**=actual growth, xx=CNN prediction)

22% ............................................*****

18% **********************

14%

10%

6% ......................................................xxxxxxxxxxxxxxx(CNN)
--------------------------------------------------------------------------------
..... 2000.................................2010, 2011, 2012, 2013,,,,,,,2017




3) Indian growth (**=actual growth, xx=CNN prediction)

10% ...............................................................xxxxxxxxxxxxxxxxxxxxxx(CNN)

8%

6% ************************

4%

2%

0% ............................................................ ********
----------------------------------------------------------------------------------
..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017

I can see who is day dreaming here..... 2000.............................................. .2010, 2011, 2012, 2013,,,,,,,,2017 :D
 
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all i can say is lol.dont judge the GDP by growth rupee depreciation has its role.those numbers are gonna turn out wrong when rupee appreciates again


that was "growth translation of CNN prediction",
no personal opinions added to the message above.
CNN predict Chinese current or growth combined tumble 65%
starts this year(2012 - 2017) to where same rate as USA.
fine, it has been do that for long time.


And, I think CNN did almost double the India rates in the future.
Rupee and grow together reach 10% a year growth.
that is very high hope for India. dont you think so?
If India keep the same rate 5% for last 10 years, India will drop off from top 10.
India is a import country, oil need to import, gold, weapon, machine, computer,,,
so dollar does mater. If CNN chose to compare in Rupee, the number is better.
 
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a currency exchange rate is determined by a country's productivity growth. we know the 5-pigs in Europe did not grow their productivity, or they are out of completion. by economic of laws, they should depreciate their currency, however, they got lockup by Euro. There was a big problem to their economic.

in short term, currency exchange rate can be affected by number of reasons. but in long term, only strong economics can appreciate their currencies. Japan has advance tech, trade surplus, then Yen appreciated 30% lately. China appreciates RMB around 4-5% a year. If German is an independent economic, its currency will do the same.
 
.
that was "growth translation of CNN prediction",
no personal opinions added to the message above.
CNN predict Chinese current or growth combined tumble 65%
starts this year(2012 - 2017) to where same rate as USA.
fine, it has been do that for long time.


And, I think CNN did almost double the India rates in the future.
Rupee and grow together reach 10% a year growth.
that is very high hope for India. dont you think so?
If India keep the same rate 5% for last 10 years, India will drop off from top 10.
India is a import country, oil need to import, gold, weapon, machine, computer,,,
so dollar does mater. If CNN chose to compare in Rupee, the number is better.

5% last 10 years?!where have you been living all these years?!no sense on reading your posts.that 5% in 10 years makes it all wrong.and i suppose to trust CNN more than IMF and World bank?
 
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you failed the reading test.
the CNN numbers were on USD, our discussion was also base on USD.
if you have 10% growth on average, and Rupee devalued 5% a year,
then you have only 5% net USD gdp growth.

India grew very fast, 10% in last 2 years, much faster than most countries on the list. However, CNN dropped you off on the 2012 chart where India was found on 9th place on 2010.


Actually I dont trust CNN numbers neither, but I found the old values where very close to what I had read before, except the 2010 Chinese GDP it should be 6.2T USD, not 5.9T.
I also knew the 2011 gdp was 7.5T.

7.5T / 5.9T = 27% growth in 2011? no, China did not grew that much.
7.5T / 6.2T = 21%, that should be right.

the old US gdp numbers were good, not the 2017 number, they are too much faking out.
 
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Why do Chinese posters keep posting the same thing again and again.Everyone read those graphs when you posted it in you r post no 3254.Posting the same stuff again and again makes people suspect that your are patong!!!!!!:wacko:

Nice graphs by the way... Brazilian Real depreciated and GDP growth wasn't that impressive and nor isthe outlook for 2012 but still the economy grew from $2.1 to $2.4 along with Russian economy
In 2011, Brazil's GDP expanded 2.7%—a very modest growth rate for an emerging economy: Latin America grew at 4.0%, while China and India expanded 9.2% and 6.8%, respectively, and Russia's GDP was up 4.3%.

Depreciation+or+appreciation+in+BRICS+currencies.png


cnncats-711065.jpg
 
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New Delhi: India accounted for the bulk of USD 39 billion foreign direct investment (FDI) that flowed into South Asia in 2011 followed by Iran and Pakistan, said a UN report on Thursday.

"The recovery took place mainly as a result of the good performance of India, which is the largest FDI recipient in South Asia and accounts for more than fourth-fifth of total FDI inflows to the region," said UNCTAD's World Investment Report 2012 -- Towards the New Generation of Investment Policy.

FDI Inflows into India surged to USD 32 billion during he year, it said, adding, "FDI inflows to South Asia rose by 23 percent to USD 39 billion in 2011 following declines in 2009 and 2010."

According to the report, Iran and Pakistan were the second and third largest FDI recipients. While the former attracted USD 4.2 billion, the latter received USD 1.3 billion. Bangladesh received USD 1.1 billion.

The report, however, pointed out that countries in South Asia face different challenges such as political risks and obstacles to FDI, which need to be tackled to build an attractive investment climate.

"Nevertheless, recent developments have highlighted new opportunities. For example, the political relationship between India and Pakistan, has been moving towards greater engagement," it added.

It also said that in Afghanistan, significant FDI has been flowing into extractive industries, despite the country’s continuing internal conflict.

In 2011, the report said, about 145 cross-border mergers and acquisitions and 1,045 greenfield FDI projects by foreign firms were recorded in South Asia. "Cross-border M&As rose by 131 percent in value, and the total reached USD 13 billion in 2011, surpassing the previous record set in 2008," it said, adding, the increase was driven mainly by large transactions in extractive industries.
 
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Sensex up 76 pts to 3-mth high

MUMBAI: The Sensex today gained for the third straight day by adding nearly 76 points to end at 17,538.67, its highest closing in 3 months, amid mixed global trends ahead of a key European Central Bank meeting.

The BSE benchmark index, which gained 64 points in the last two days, opened higher but soon dipped to the day's low of 17,423.45 as the rupee weakened to below 55 against the dollar.

After trading in a narrow range, the Sensex finally ended at 17,538.67, up 75.86 points or 0.43 per cent. This was the highest close after the index ended at 17,597.42 on April 3.

Today's gains were led by FMCG, banking and capital goods scrips. The 21 gainers in the 30-share index included Cipla, ICICI Bank, Tata Motors and ITC while the nine losers were led by ONGC, Bajaj Auto, Coal India and Sterlite Industries.

On similar lines, the 50-share National Stock Exchange index, Nifty, rose by 24.75 points or 0.47 per cent to 5,327.30.

Investors, edgy to buy largecaps, put money in smallcaps and midcaps, brokers said. The BSE Midcap and Smallcap indices rose 0.90 and 1.64 per cent, respectively.

The market breadth closed on a positive note with 1,946 shares closing with gains out of the 3,012 shares traded.

Globally, sentiment were mixed with Japan's Nikkei and China's Shanghai Composite ending lower while the UK's FTSE and Germany's DAX were trading marginally higher in early trade.

In the Indian market, shares of retail companies including Koutons Retail, Trent and Pantaloon jumped amid speculation that government may finally allow foreign direct investment in the multi-brand retail sector.


Sensex up 76 pts to 3-mth high; FMCG, bank stocks rise - The Economic Times
 
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