ICC and Borghese Multi Family Office Sign MoU to Strengthen Ultra-High-Net-Worth Investments

New Delhi, February 18, 2025: In a landmark initiative poised to reshape the ultra-high-net-worth (UHNW) family business landscape in India, the Indian Chamber of Commerce (ICC) and Borghese Multi Family Office have signed a Memorandum of Understanding (MoU) to enhance cross-border investments and capacity-building initiatives. This significant agreement, signed as part of ICC’s 100th anniversary celebrations, will establish a dedicated platform to support Indian UHNW families in their pursuit of global expansion. The MoU was signed by President of the Indian Chamber of Commerce and MD, Jindal Stainless, Mr. Abhyuday Jindal, and Group Chairman of Borghese Multi Family Office, Mr. Joseph Borghese.

The rapid growth of family offices in India—from just 45 in 2018 to nearly 300 in 2024, collectively managing approximately $30 billion in assets under management (AUM)—highlights the increasing demand for specialized investment support. Indian UHNW families have demonstrated a strong interest in European investment structures, particularly in sectors such as real estate, technology, financial services, and impact investing.

Commenting on this development, Group Chairman of Borghese Multi Family Office, Mr. Joseph Borghese, said, “This collaboration marks a pivotal step in strengthening cross-border investment ties. By creating a structured platform for knowledge exchange and capital flow, we are empowering ultra-high-net-worth families with the tools, insights, and opportunities needed to navigate global markets seamlessly. This partnership is not only about financial growth but also about fostering deeper economic ties between India, Europe and globally, enhancing business synergies, and unlocking new avenues for sustainable wealth creation. Together, we aim to bridge the investment landscape, enabling family offices to diversify their portfolios and contribute to a more interconnected and prosperous global economy.”

Adding to it, President of ICC and MD, Jindal Stainless, Mr. Abhyuday Jindal, said, “As family businesses across India continue to expand globally, this collaboration will empower them to leverage world-class investment structures and innovative opportunities in key sectors such as real estate, technology, and impact investing. It also underlines the growing sophistication of India’s family office landscape, positioning them to align with global best practices, diversify their portfolios, and embrace institutionalized investment models. At this significant juncture, the Indian Chamber of Commerce remains deeply committed to enabling our business leaders to create lasting value and strengthen their global influence.”

As more Indian family offices seek to establish robust investment frameworks in Europe, this collaboration will facilitate seamless capital flow and knowledge exchange. A key component of the MoU is the formation of the Indo-Europa Family Investment Council (IEFIC)—a strategic body dedicated to providing advisory services, fostering networks, and driving investment partnerships between Indian and European family enterprises.

This MoU aims to bridge a crucial gap by offering UHNW families specialized guidance, investment opportunities, and market entry strategies. By leveraging Borghese Multi Family Office’s jurisdictional expertise and ICC’s deep-rooted business connections in India, the partnership will create a structured pathway for Indian capital to engage with European and global markets.

The agreement reflects the evolving nature of Indian family businesses as they embrace globalization, intergenerational wealth management, and institutionalized investment practices. By aligning with international best practices, Indian family offices can enhance governance structures, diversify portfolios, and capitalize on high-growth opportunities across multiple markets.

With the signing of this MoU, ICC and Borghese Multi Family Office are setting the stage for a transformative initiative that will redefine India’s family business landscape. Discussions on operational details, governance frameworks, and implementation roadmaps are already in progress.

This strategic move positions Indian UHNW families to expand their global footprint, build sustainable wealth, and establish stronger international partnerships. The initiative is expected to attract significant interest from industry stakeholders, policymakers, and investment professionals eager to shape the future of India’s family office ecosystem.

As both organizations advance toward formalizing this groundbreaking collaboration, the MoU stands as a testament to India’s rising economic influence and the increasing sophistication of its family office landscape.