Nerine Group of
Fiduciaries Executive Chairman, Keith Corbin, and Nerine's
India office managing director, Pranav Khanna, attended the
prestigious international India Wealth Forum in Delhi recently to
present on wealth management structuring to an audience of bankers,
advisers, accountants and fiduciaries interested in the emerging
Nerine, which is the only independent trust company with an
office in India, has been working in the India market for more than
five years and Mr Corbin was invited to speak at the event on using
domestic trust structures – a concept that is relatively
new in India.
Organised by the Society of Trust and Estate Practitioners
(STEP), the forum was designed to expose wealthy private
clients and families in India to a range of products and services
available to them. Mr Corbin and Mr Khanna outlined Indian
succession laws, wills and intestacy, trust options, tax
implications and how offshore structures may also be utilised by
The initiative by STEP is indicative of the focus now falling on
succession and wealth planning in India.
Mr Corbin said: "There are few people unaware of the
growing economy in India. Indeed some commentators believe it will
outstrip China's growth by 2015 and certainly those in the know
are tipping a GDP of £6 trillion. Many see the potential of
the region across all business sectors and those offering financial
services are no exception but few have the depth and breadth of
knowledge to embrace this market with expertise.
"There have been a number of high profile cases in India
where sufficient succession planning has not been in place and
families have had significant problems. We wanted to demonstrate
how trusts and other structures can assist the growing wealth in
India particularly as the second generation of some of the wealthy
families are looking at wealth preservation and growth in a
different way to their forefathers."
Mr Khanna said: "The Wealth Forum India reinforced our view
that the vast majority of business in India, some 95%, is
controlled by family-owned businesses.
"There are opportunities here for solid fiduciaries with a
real understanding of the market and one of Nerine's aims is to
continue to educate these families on what is available to
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