The Middle East, Africa, and Southeast Asia will be the initial focus for Lighthouse Canton’s Global Indian initiative, as demand grows for integrated advice on assets, businesses, and interests spanning multiple jurisdictions.
The wealth of Non-Resident Indian (NRI) billionaires no longer belongs to one market but is spread across financial centers spanning London and Monaco to Singapore, Hong Kong, Dubai, and San Francisco. For Lighthouse Canton, that increasingly global footprint represents an opportunity to build a $10 billion business over the next two to three years.
The Singapore-headquartered wealth manager has responded by launching Global Indian, a platform that integrates global wealth management with Indian financial assets under a single advisory model.
“This is probably the single biggest area where we believe we can make a difference in financial services,” said Sumegh Bhatia, Managing Director and Chief Executive Officer – India at Lighthouse Canton.
While the wealth manager is looking at $10 billion of assets under management (AUM) over the next few years, Bhatia pointed out that a “significant part of our AUM already comes from the Indian diaspora, and we will only be able to expand our coverage on that side through the Global Indian platform.”
He said the firm's initial focus will be on regions with established Indian diaspora communities, particularly the Middle East, Africa, and Singapore.
Singapore will serve as the regional hub for Southeast Asia, supporting clients not only in the city-state but also across Indonesia and Malaysia. “Many of these families have businesses, investments, and family members spread across multiple jurisdictions, making Singapore a natural gateway for cross-border wealth management,” he said.
Though the US remains an attractive long-term opportunity given its large Indian diaspora, Lighthouse Canton intends initially to focus on helping US-based NRIs invest into India and Southeast Asia opportunities rather than competing directly in the domestic US wealth market.
The Hurun Rich List 2025 revealed that there are 101 NRI billionaires globally, with almost half residing in the United States (US), followed by the United Arab Emirates (UAE) and the United Kingdom (UK).
| Country of Residence | No of NRI Billionaires |
|---|---|
| United States | 48 |
| United Arab Emirates | 22 |
| United Kingdom | 16 |
| Singapore | 3 |
| Cyprus | 3 |
| Canada | 2 |
| China | 2 |
| Other Countries | 5 |
Source: Hurun Rich List 2025.
Looking further ahead, Bhatia said the model could eventually be extended beyond Indian-origin clients.
“There's no reason why this model cannot be replicated for other Asian diaspora communities. Cross-border wealth management is becoming increasingly relevant as families become more global.”
Also read: Lighthouse Canton Launches Global Indian, Uniting the Fragmented Wealth of NRI Families
GIFT City reshapes investment flows
For many wealthy NRIs, India has become an increasingly attractive investment destination, as geopolitical uncertainty drives greater portfolio diversification, while the country’s long-term growth outlook and range of investment opportunities continue to strengthen.
However, a major catalyst behind this shift has been the development of GIFT City designed to compete with Singapore and Dubai, which has significantly broadened the range of India-focused investment opportunities available to overseas Indians.
Historically, NRIs investing in India often had to convert US dollars into rupees before accessing domestic assets, exposing them to currency risk. GIFT City has changed that equation by enabling investments into Indian equities, private credit and alternative strategies through dollar-denominated structures.
“Today they can remain invested in dollars while accessing opportunities across multiple asset classes and geographies,” Bhatia said.
In conjunction with the launch of Global Indian, Lighthouse Canton also introduced a Systematic Global Equities Fund domiciled in GIFT City, offering investors a tax-efficient, regulated avenue to participate in global equity markets.
Another example cited by Bhatia is the Luminere Credit Fund, which provides accredited investors with access to India's growing private credit market through a GIFT City feeder structure, allowing overseas investors to participate in private lending opportunities using dollar-denominated vehicles.
“When we talk about investing back into India, we don't just mean equities,” Bhatia said. “Clients today want access to private credit, market-neutral strategies and alternative investments as well. GIFT City has opened that universe.”
Beyond traditional wealth management
Lighthouse Canton is positioning Global Indian as more than a conventional private banking proposition.
According to Bhatia, the opportunity is being driven by a structural shift in investor behaviour. Rather than treating overseas assets and India investments separately, many wealthy NRIs are increasingly managing them as a single global portfolio, creating demand for cross-border advice.
“There is no player today that truly connects both worlds,” he said. “Clients have global wealth, but they also have significant interests in India. They increasingly want one adviser who understands both.”
Its target clients include ultra-high-net-worth entrepreneurs, family offices, promoters and business owners whose wealth is increasingly spread across multiple countries.
Bhatia said wealthy NRIs increasingly expect advisers to understand both their overseas portfolios and India-specific considerations, including regulatory requirements, tax structures and investment opportunities.
Technology and scale
Technology is expected to play an important role in supporting the initiative's growth. Lighthouse Canton is enhancing its digital wealth capabilities which aggregates clients' holdings across multiple banks and custodians into a single dashboard while providing portfolio analytics and access to investment opportunities.
“The world has become much more interconnected,” Bhatia said. “Clients no longer think in terms of separate India and overseas portfolios. They think about their wealth as one global balance sheet, and the advisory model has to evolve accordingly.”
Frequently Asked Questions
Q1: What is Lighthouse Canton’s Global Indian platform?
Global Indian is Lighthouse Canton’s cross-border wealth-management platform for Indian-origin clients. It is designed to connect India-linked investments with assets held across international financial centres under a single advisory model.
Q2: Why is GIFT City important for NRI investors?
GIFT City gives NRIs access to a wider range of India-focused investments through international financial structures, including dollar-denominated products. This can allow overseas investors to access Indian equities, private credit and alternative investments without treating their India portfolio as a standalone allocation.
Q3: How does Global Indian support NRI wealth management?
The platform aims to help wealthy NRIs manage their India-based and overseas assets as a single global portfolio. This includes advice covering investment opportunities, regulatory considerations and the relationship between India holdings and assets in other jurisdictions.
Q4: Which markets is Lighthouse Canton targeting with Global Indian?
The initial focus is on the Middle East, Africa and Singapore, with Singapore serving as a hub for Southeast Asia. Lighthouse Canton also sees longer-term opportunities among US-based NRIs investing into India and potentially other Asian diaspora communities.
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