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Indian Wealth Management Forum 2019 - Exclusive Insights - Tariq Aboobaker

Tariq Aboobaker

Managing Director

Amicorp Group

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  • 1. What are the challenges that wealthy families face in India?

    There are multiple challenges that wealthy families face in India. A few of the common ones that we've seen lately are (that) the next generation (are) not investing into the same business, not interested in doing the same business (as) what the patriarchs have been continuing with. So, that's one of the big challenges that we have seen. The other is (that there is) a lot of cross holding and restructuring of businesses. (This) is, again, something that is a big alarming factor. A lot of people are doing a decent amount of cleanup at their end where they are wanting to have more straight and clean structures these days instead of having a lot of complicated, cross holding ones.