From Tesla’s dominance in EVs and batteries to NVIDIA and Super Micro powering the AI infrastructure wave, Non-Resident Indians (NRIs) are chasing innovation-heavy sectors that define the next decade of growth.
In this edition of ETMarkets NRI Talk, Sitashwa Srivastava, Founder & CEO of Borderless, explains the evolving trends, the emotional connect behind these bets, and why ETFs and fractional shares could shape the future of NRI investing.
Edited Excerpts –
Q) Over the past six months, what is the trend that you have seen from the NRIs? What does this say about the appetite for global investing among Indian investors?
A) NRIs are keeping up a steady pace in global investing through 2025. They have traded $45M across 1.5M quantities, averaging $5K per transaction.Fresh inflows of $2M this year have lifted total funding since inception to $30M, underscoring consistent interest in global markets.Tesla tops the chart at $9M, followed by NVIDIA and Robinhood, reflecting a strong bias toward U.S. tech and manufacturing giants.Q) Why do you think technology and manufacturing have emerged as the top two sectors for NRI investments on your platform?A) Technology and manufacturing have taken the lead in NRI investments because they represent the twin engines of global economic transformation which are innovation and scalability.
In manufacturing, Tesla ($9.0M) leads, with NVIDIA ($2.9M), AMD ($1.6M), and Micron ($0.9M) fueling AI, EV, and semiconductor growth.
Whereas, in technology, Super Micro, Palantir and CoreWeave draw interest from investors targeting AI, analytics, and next-gen cloud infrastructure.
Q) Tesla alone accounts for nearly a third of manufacturing trades—what’s driving this concentrated interest?A) Because for investors Tesla is like a whole package. EV leadership, massive battery production, top-tier autonomous driving, plus diversification into AI-driven software and large-scale energy solutions.
For investors, that makes it the perfect blend of innovation and growth rolled into one. Also, there is a political angle here, discussions between Trump and Elon Musk around Tesla’s role in U.S. manufacturing and potential government contracts have kept it in the headlines, adding to investor conviction that Tesla’s influence extends well beyond the auto industry.
Q) AI, semiconductors, and cloud dominate tech trades—are these themes a reflection of global trends or unique to NRI preferences?A) A bit of both. Globally, those three are the backbone of the next decade. They are powering everything from generative AI to hyperscale data centers.
But NRIs are zoning in on the U.S. players at the core of it: NVIDIA, AMD, Super Micro for AI hardware, and Microsoft, CoreWeave for cloud.
Investors are going after the infrastructure layer, which is projected to grow even faster than the consumer-facing side of tech.Q) Beyond diversification, what emotional or strategic factors drive NRIs to invest in U.S. markets?A) Access, innovation, and aspiration are at the heart of this trend. Investors want a stake in global giants like Google, Microsoft, and Amazon brands they use and admire daily.
At the same time, it is about tapping into innovation and heavy sectors that aren’t yet as developed in India, like advanced semiconductors, AI infrastructure, and large-cap tech.
Together, all of these deliver both pride of ownership, bring in a sense of aspiration and exposure to industries defining tomorrow.
Q) How do you see NRI investment patterns evolving over the next 2–3 years?A) We are expecting a doubling down on innovation-heavy sectors like AI, advanced manufacturing, and clean energy.
They have already built strong positions in names like Tesla, NVIDIA, Super Micro, and that trend won’t slow down. Also thematic plays like AI healthcare, climate tech, maybe even space ticket sizes will go up and holding periods will get longer.
We might see growth in the ETFs and fractional shares too. International ETFs with strong exposure to the finance sector could also be the game-changers giving investors access to global banking, fintech, and insurance leaders, and opening up diversification opportunities that go far beyond what’s currently available in India.
Q) How do DTAA benefits impact overall returns for NRIs investing via Borderless compared to other platforms?A) Borderless gives them the 1042-S to claim credit in India and issues a W-8BEN anytime so the right tax rate applies upfront keeping more dividend income in their pocket.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
