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UAE: Planning to retire in India? Here's where to invest

Sebi has approved a scheme for high net worth individuals which will require a minimum investment of Rs1 million

Question: I will be returning to India shortly after retirement. I want to know whether there is any scheme which is well regulated and secure for individuals to make substantial investments.

ANSWER: The Securities & Exchange Board of India (Sebi) has approved a scheme for high net worth individuals which will require a minimum investment of Rs1 million. This is meant to curb the rise of unauthorised schemes promising unrealistically high returns on investments which resulted in unseasoned investors losing money.

The new scheme comes with safeguards such as restrictions on investments in unlisted and unrated instruments and a limited derivatives exposure. To encourage passive investment, SEBI has also approved ‘MF Lite’, which is a framework with relaxed regulations for passively managed schemes like index funds and exchange traded funds. According to the regulator, an easier rule is justified because the asset management company has negligible discretion is such schemes. Hence, the rule is expected to make it easier for new fund managers to enter the market and offer passive investment options to investors.

Apart from promoting ease of investment, the regulator has relaxed the framework for investment advisers and research analysts which would reduce qualification requirements and encourage more individuals to enter this profession. For investors, Sebi has now permitted new trading options giving investors the choice to trade in the secondary market using either the UPI block mechanism or a three-in-one trading account facility. This is meant to enhance investor convenience.

Question: My son has obtained a Masters degree in Electronics. I want him to take up a job in the United States. As an engineer, he would like to continue with his studies in the field of Systems Design. Is there any scope in this area?

ANSWER: In an era where artificial intelligence and electronics dominate the technological landscape, the art of system design has emerged as a critical skill for the new generation of engineers. The essence of system design is harmonious integration and understanding the intricate relationships between different elements.

It is about creating a cohesive whole from diverse paths. True value in electronics comes from mastering system design. This approach increases value addition by upto fifty per cent because it encompasses hardware design, software development and comprehensive testing. Therefore, system design gives the electronic devices manufacturer control over the entire supply chain. New generation of engineers combine core technical skills with broader subject matter expertise by integrating new technologies with fundamental engineering principles.

This synthesis enables professionals to tackle the challenges of complex system design. The electronic system design and manufacturing industry in India is projected to grow from $150 billion at present to $300 billion by the end of 2027. Therefore, your son has taken the right decision to continue with his higher education and specialise as a systems designer.

Question: One of my friends in India has a terminally ill relative who has been on life support equipment for a long time. Can life support be withdrawn? I am told there are some rules which make it possible.

ANSWER: The government has framed draft rules and guidelines to permit withdrawal of life sustaining treatment (LST) in special cases. According to these guidelines, LST can be withdrawn from a terminally ill patient only if both the primary and secondary medical boards constituted by a hospital give their consent. Further, a close relative of the patient has also to give his approval.

These guidelines specify that many patients in intensive care units are terminally ill and may not benefit from LST which include mechanical ventilation, surgical procedures, and extracorporeal membrane oxygenation. In such circumstances, LST may not be beneficial and increase avoidable burdens and suffering to patients. Withdrawal of LST in such patients is regarded as a standard of ICU care worldwide and upheld in several jurisdictions.

Terminal illness has been defined in these guidelines to mean incurable condition including severe traumatic brain injury. According to the Health Ministry’s draft guidelines, life support can be withdrawn if a patient is brain dead or is not likely to benefit from aggressive therapeutic interventions. The primary medical board constituted by the hospital must consist of the physician attending to the patient and at least two subject experts having minimum five years of experience. The secondary medical board should comprise one registered medical practitioner and two subject experts. The hospital is also required to constitute a clinical ethics committee of multi-professional members for audit, oversight and conflict resolution.

Therefore, once these guidelines are finalised, LST can be withdrawn in conformity with the rules laid down by the Health Ministry.

HP Ranina is a practising lawyer, specialising in corporate and tax laws of India.