Attending Mint Horizons in Mumbai, in partnership with Appreciate, offered a masterclass in simplifying global investing for Indian portfolios—focusing on GIFT City routes, RBI regulations, and practical diversification. This event, held at Radisson Andheri on October 10, 2025, featured experts from DSP, PPFAS, and others unpacking why Indians should allocate 30-40% overseas now, amid India’s equity shift and low global correlations. Below, I distill the highlights into actionable insights for fellow finance enthusiasts building resilient, INR-denominated wealth.
Regulatory Shifts Enabling Access
The RBI’s Overseas Portfolio Investment (OPI) regime, launched nine months ago, revolutionizes access by allowing Indian corporates to invest up to 50% of net worth abroad via GIFT City, sidestepping the $250,000 LRS cap that deterred family offices. This bypasses traditional hurdles like accredited investor thresholds (e.g., $1M net worth or $200K income for NRIs), with minimums as low as $150,000 for non-accredited investors—now extended to retail via funds starting at ₹5,000. GIFT City’s full FME licenses for firms like DSP enable segregated PMS and AIFs, fostering unique strategies like gold miner funds without FEMA remittance frictions.
Valuation and Return Opportunities
US small- and mid-cap equities stand out as undervalued plays, trading at forward P/E ~15 (PEG=1) with 11% long-term earnings growth, contrasting India’s small-cap bubble at P/E 30+ on 5-6% growth—offering 97% of the world’s market beyond India’s 3% share. DSP’s active global fund has delivered 27% since inception (net fees) and ~20% over 12 months, focusing on broad compounding without heavy Mag7 reliance, while a new Nasdaq ETF in GIFT City launches at just 20 bps with no management fees. For India exposure, invest in NYSE giants like Apple and Microsoft, which derive $7-20B from India—exceeding most domestic B2C revenues—and capture the nation’s growth indirectly through global revenue streams.
Portfolio Allocation Strategies
Per Markowitz’s Efficient Portfolio Theory, with India-US correlation at 25-30%, a 60% India / 40% West split optimizes for ~14% compounded returns via annual rebalancing, reducing risk without sacrificing upside—ideal for the next decade’s equity-to-global shift. Personalize based on needs: Tilt to 40%+ globals for dollar-denominated goals like overseas education (e.g., ₹50K in S&P 500 at birth grows to Ivy League fees by 18) or healthcare, matching spending currency to avoid INR depreciation mismatches. Start simple with passive gold/ETFs for a base layer, then layer “creamy” active strategies like DSP’s 20-30 stock PMS (launched August 2025, min ₹75K), which is 47% invested in 15 undervalued picks across US, Japan, China, and Europe after 1.5 years of on-ground research.
Tax, Compliance, and Risk Considerations
July 2024’s LTCGT unification at 12.5% levels the playing field (previously 10% India vs. 20% abroad), eliminating penalties for globals and encouraging 30-40% overseas exposure for affluent families—NRIs can optimize by routing directly to Cayman funds for CGT offsets and no remittance taxes. Beware inheritance traps: Direct US holdings risk 40% estate duty above $60K if economic ties exist; mitigate via GIFT/Cayman structures or W-8BEN forms proving non-US residency, especially for expats in zero-tax hubs like Dubai/Singapore. DSP’s value discipline—index-agnostic, bottom-up with 25+ years in emerging markets—applies universally: Buy strong fundamentals over size, stay sidelined in bubbles, and target 12-13% long-term via 15-country coverage without chasing rallies.
Why Go Global Now?
Market momentum underscores urgency: YTD leaders like Korea (+44%) and Poland (+35%) outpace India’s flat performance, with US small/mids at 26-year valuation lows versus India’s stretches—backed by historical INR stability post-GFC (flat or appreciating 2008-2015). Platforms like Appreciate simplify entry with single-click remittances, fractional shares from ₹1, AI insights, and ~1% forex costs, integrating GIFT compliance for seamless US/ETF access. As India transitions from real estate to equities (echoing 2015 trends), globals hedge single-market slumps—low correlations (only 20% overlap in corrections) ensure smoother compounding at double digits.
For Indian investors, Mint Horizons demystifies the “how” of global diversification, proving it’s no longer elite—retail access via GIFT starts small and scales smartly. If you’re building a portfolio, aim for that 60/40 split today; explore DSP or Appreciate to execute. Stay tuned for my Twitter threads unpacking these further—global thinking is the new edge for INR wealth.