Watch out. You might get weird "looks" from Christians among your audience:
Search keyword: "Iesus Nazarenus Rex Iudaeorum".
(I don't think it's offensive or anything that level)
Launch HN: Inri (YC W23) – Wealthfront for Investing in India
21–30 of 105 posts
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#22Since the target is Indian expats, that probably doesn't matter much, but be aware the name INRI has strong religious connotations in the West [1]. [1] https://en.wikipedia.org/wiki/Jesus,_King_of_the_Jews#INRI
First thought that entered my head as well. And it really is "the West" (not just US), since the original phrase is Latin.
Hahaha! That would have never occurred to me (or at least not immediately) - NRI
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#23Watch out. You might get weird "looks" from Christians among your audience: Search keyword: "Iesus Nazarenus Rex Iudaeorum". (I don't think it's offensive or anything that level)
I'm Christian and that's the first thing I noticed about the Url. "Go INRI? Cool" was my reaction.
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#24So like Vested?
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#25So like Vested?
No, it's the reverse of Vested.
Vested is for Indian residents to invest in US, we are for global NRIs to invest in Indian financial instruments.
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#26Do you help US-based investors with PFIC taxation (see Steps 4 and 5 here)? ( https://www.taxesforexpats.com/guides/passive-foreign-invest... ). This is a huge pain point for US persons investing in foreign mutual funds. This made me liquidate all my ETFs/mutual funds in India and move the money to individual stocks or property. If you can make it easy for NRIs to invest in a basket of individual stocks, a NRI-friend…
Yes, we know about PFIC taxation and help investors with Mark-to-Market Accounting. Further, Inri provides tax support as part of the product offering, thereby abstracting the pain of tax reporting.
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#27Question: how do the rules introduced( https://sbnri.com/blog/nri-income-tax/union-budget-2023-for-... ) in the Union Budget 2023 for taxing outward remittances (i.e. on moving money from India to US) affect you?
The Liberalised Remittance Scheme is applicable to Indian residents and not Indian expats whereas Inri is an investment product for Indian expats remitting to India from a foreign country. https://m.rbi.org.in/scripts/FAQView.aspx?Id=115
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#28What are the inflation adjusted returns for investments in the indian market? What are the tax implications?
Inflation adjusted NIFTY for 31. March 2023: https://www.tradingview.com/chart/NIFTY/p30N39p6-NIFTY-Infla...
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#29Would it make sense to offer this to a wider audience? Why limit it to just Indian expats?
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#30A few comments and advice on investing in India. The target audience for this would know this, but it's useful to be reminded. INR (Indian Rupee) depreciates on average about 4% each year against USD (US Dollar). When you look at the gains from investments in India in USD terms, it would be lower due to the continuously weakening currency. As an emerging market and one with a still-developing stock market, the return…
A few comments on this 1. Yes it's true that INR has depreciated vs $. But all of that depreciation has been coming in the zero interest regime we have been in the last decade. If you see the previous decade, INR was flat vs $ and NIFTY also grew more than S&P500. Point here is to say that there are financial cycles and the next cycle is likely going to be different (because of higher interest rates at least in the m…
> INR was flat vs $ and NIFTY also grew more than S&P500
> India is likely to be among the fastest growing economies in the next decade so a good bet for diversification for 5-10% of your wealth.
I'm going to ask this in the most laymen way possible...how is it possible that a country that is growing faster than the US depreciates the money value relative to the US by so much? I genuinely believe India has stronger growth, but those two facts don't seem to match up. One would think that a stronger economy would imply more investment, and thus push the price up on the currency. ELI5.