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THE EMPIRE STRIKES IT RICH...
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NRI wealth: $1 trillion
It isn’t just at home, however, that India is counting in trillions these days. According to the report of the high-powered committee on making Mumbai an international financial hub, NRIs are estimated to own over $1 trillion.
The report says that the 20-million strong NRI community has an estimated financial wealth of over $500 billion.
Factor in other assets like real estate, gold and art and the total estimated wealth of the NRI community, the report says, is over $1 trillion.
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Their work ethic is different too. “Young people want to work smart rather than work hard,” says Dhaliwal. “They are fiercely ambitious, but are reluctant to put in the time.”
Of course, there’s a flip side to the feel-good story. In Dhaliwal’s experience, few millionaires will admit that money motivates them to become successful, even though they love to flaunt their wealth. “They want the BMW’s, they want the Mercedes, they want the gold, the jewellery, the big houses,” she says. “They want other people to see that they are successful. It’s the worst facet of our culture, and it negates any success in our community.”
How much the larger community has benefited is arguable, however, going by the bare facts and figures, Indians engaged in trade and business in the UK are doing exceedingly well. Having made it big in adversity, it’s mindboggling to imagine what they’ll achieve now. Your guess is good as mine, but I imagine Indians will rule Britannia’s waves in the not too distant future.
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June 2007
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