ETMarkets Smart Talk | Tier III India is creating the next wave of millionaires: Centrum Wealth CEO Sandeep Das

Sandeep Das, MD and CEO of Centrum Wealth, outlined three major shifts in India's wealth management industry: rapid movement of clients from affluent to high-net-worth and ultra-high-net-worth categories, growth in family offices from around 300 two years ago, and rising cross-border wealth driven by returning NRIs and geographical diversification via the Liberalised Remittance Scheme. He said wealth creation is extending beyond six metros into Tier II and Tier III cities. Das also stated that LRS limits are unlikely to be raised in the near term, citing pressure on the rupee as a key reason.