
Members only: Inside the new playgrounds of India's rich and famous
Demand for such spaces is strong enough for the international chain Soho House to plan two new launches in the capital Delhi and in south Mumbai in the coming months. Their first offering - an ocean-facing club on Mumbai's iconic Juhu Beach - opened six years ago and is wildly successful.The chain is one of a host of new club entrants vying to cater to a market that is booming in India.Soho House started in London in the mid-90s as an antidote to the upscale gentlemen's clubs that lined Pall Mall. It came in as a refreshingly new concept: a more relaxed club for creators, thinkers and creative entrepreneurs, who might have felt like they didn't belong in the enclaves of the old aristocracy.Thirty years later, India's flourishing tech-driven economy of start-ups and creators has birthed a nouveau riche that's afforded Soho House exactly another such market opportunity."There's growth in India's young wealth, and young entrepreneurs really need a foundation to platform themselves," Kelly Wardingham, Soho House's Asia regional director, told the BBC. The "new wealthy require different things" from what the traditional gymkhanas offer.Unlike the old clubs, Soho House does not either "shut off" or let in people based on their family legacy, status, wealth or gender, she says. Members use the space as a haven to escape the bustle of Mumbai, with its rooftop pool, gym and private screening rooms as well as a plethora of gourmet food options. But they also use it to drive value from a diverse community of potential mentors and investors, or to learn new skills and attend events and seminars.Reema Maya, a young filmmaker, says her membership of the house in Mumbai - a city "where one is always jostling for space and a quiet corner in a cramped cafe" - has given her rare access to the movers and shakers of Mumbai's film industry - which might otherwise have been impossible for someone like her "without generational privilege".In fact, for years, traditional gymkhanas were closed off for the creative community. The famous Bollywood actor, the late Feroz Khan, once asked a gymkhana club in Mumbai for membership, only to be politely refused, as they didn't admit actors.Khan, taken aback by their snootiness, is said to have quipped, "If you'd watched my movies, you would know I am not much of an actor."By contrast, Soho House proudly flaunts Bollywood star Ali Fazal, a member, on its in-house magazine cover.
But beyond just a more modern, democratic ethos, high demand for these clubs is also a factor of the limited supply of the traditional gymkhanas, which are still very sought after.Waiting queues at most of them can extend "up to many years," and supply hasn't caught up to serve the country's "new crop of self-made businessmen, creative geniuses and high-flying corporate honchos", according to Ankit Kansal of Axon Developers, which recently released a report on the rise of new members-only clubs.This mismatch has led to more than two dozen new club entrants - including independent ones like Quorum and BVLD, as well as those backed by global hospitality brands like St Regis and Four Seasons - opening in India. At least half a dozen more are on their way in the next few years, according to Axon Developers.This market, the report says, is growing at nearly 10% every year, with Covid having become a big turning point, as the wealthy chose to avoid public spaces.While these spaces mark significant shifts, with their progressive membership policies and patronage of the arts, literary and independent music scene they are very much still "sanctums of modern luxury", says Axon, with admission given out by invite only or through referrals, and costing several times more than the monthly income of most Indians.At Soho House for instance, annual membership is 320,000 Indian rupees ($3,700; $2,775) - beyond what most people can afford. What's changed is that membership is based on personal accomplishment and future potential rather than family pedigree. A new self-made elite has replaced the old inheritors - but access remains largely out of reach for the average middle-class Indian.
In a way the rising take-up for these memberships reflects India's broader post-liberalisation growth story – when the country opened up to the world and discarded its socialist moorings.Growth galloped, but the rich became the biggest beneficiaries, growing even richer as inequality reached gaping proportions. It's why the country's luxury market has boomed, even as the high street struggles with tepid demand, with most Indians without money to spend on anything beyond the basics.But growing numbers of newly-minted rich present a big business opportunity.India's 797,000 high-net worth individuals are set to double in number within a couple of years - a fraction of a population of 1.4 billion, but enough to drive future growth for those building new playgrounds for the wealthy to unwind, network and live the high life.Follow BBC News India on Instagram, YouTube, X and Facebook.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
39 minutes ago
- Reuters
Trump again threatens 'very substantial' tariff hikes for India over Russian oil
WASHINGTON/NEW DELHI, Aug 5 (Reuters) - U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil. He also said a "zero tariff" offer for imports of U.S. goods into India was not good enough, alleging that India was "fuelling the war" in Ukraine. Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty. "They're fuelling the war machine, and if they're going to do that, then I'm not going to be happy," Trump told CNBC in an interview on Tuesday, adding that the main sticking point with India was that its tariffs were too high. "Now, I will say this, India went from the highest tariffs ever. They will give us zero tariffs, and they're going to let us go in. But that's not good enough, because of what they're doing with oil, not good." An Indian government source said that India's purchases of Russian oil have helped to stabilise global oil prices by easing the pressure on supplies from other regions. India, the world's third biggest oil importer and consumer, buys more than a third of the oil it needs from Russia. "If we stop buying Russian oil, who will replace those barrels to maintain balance (in the market) and at the same time prevent the prices from shooting up? We don't want a repeat of 2022 when prices shot up to $137 a barrel," the source said, referring to the oil market spike around the time when Moscow's invasion of Ukraine began. The official spoke on condition of anonymity because the source was not authorised to speak to the media. Trump's latest comment followed a similar threat on Monday, which prompted India's Foreign Ministry to say the country was being unfairly singled out over its purchases of Russian oil. "It is revealing that the very nations criticising India are themselves indulging in trade with Russia (despite the Ukraine war)," it said in a statement issued late on Monday. "It is unjustified to single out India," it added. The EU conducted 67.5 billion euros ($78.0 billion) worth of trade with Russia in 2024, including record imports of liquefied natural gas that totalled 16.5 million metric tons, the Indian ministry said. The United States continues to import Russian uranium hexafluoride for use in its nuclear power industry, palladium, fertilisers and chemicals, it added, without giving a source for the export information. The U.S. embassy and the EU's delegation in New Delhi did not immediately respond to a request for comment. Both the United States and EU have reduced their trade ties with Russia since it launched its full-scale invasion of Ukraine. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by trade sources. It has faced pressure from the West to distance itself from Russia over the Ukraine war. New Delhi has resisted, citing its longstanding ties with Moscow and economic needs. India's National Security Adviser Ajit Doval is likely to go ahead with a scheduled visit to Russia this week, two government sources said. Foreign Minister S. Jaishankar is expected to visit in the coming weeks. The sudden rift between India and the U.S. has been deepening since July 31. Trump has said that from Friday he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end the war with Ukraine. The trade tensions have caused concern about the potential impact on India's economy. The equity benchmark BSE Sensex .BSESN closed down 0.38%, while the rupee dropped 0.17% versus the dollar.


Reuters
an hour ago
- Reuters
NCR foray boosts Indian developer Prestige's first-quarter profit
Aug 5 (Reuters) - India's Prestige Estates Projects ( opens new tab reported a higher first-quarter profit on Tuesday, boosted by strong demand for launched apartments in the National Capital Region (NCR). The Bengaluru-based developer said its consolidated net profit rose 26% year-on-year to 2.93 billion rupees ($33.4 million). Revenue rose 24% to 23.07 billion rupees, helped by record quarterly sales, opens new tab from its expansion into NCR, which accounted for 59% of the company's quarterly bookings. For further earnings highlights, click here. Indian real estate developers have benefited from a post-pandemic shift in buyer preferences towards larger, amenity-rich apartments. This has prompted aggressive land deals and faster project launches. Prestige's land costs in the reported quarter jumped 47% to 11.34 billion rupees. However, as demand stabilises, developers are diversifying into newer geographies and timing their launches as per shifts in demand, analysts have said. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.7990 Indian rupees


Reuters
2 hours ago
- Reuters
India's Dalmia Bharat Sugar posts quarterly profit fall on lower sugar production
Aug 5 (Reuters) - India's Dalmia Bharat Sugar and Industries ( opens new tab posted a near 30% fall in first-quarter profit on Tuesday, dragged by lower sugar production. The company reported a net profit after tax of 383.7 million rupees ($4.37 million) for the quarter ended June 30, compared with 547.3 million rupees a year ago. The New Delhi-based firm, which supplies sugar to companies such as Coca-Cola (KO.N), opens new tab, Britannia ( opens new tab and Dabur ( opens new tab, posted a 2% fall in quarterly revenue. For further earnings highlights, click [here] KEY CONTEXT India's sugar output for the 2025 marketing year, ending in September, is projected to fall below domestic consumption for the first time in eight years. This decline is primarily attributed to reduced sugarcane availability in key producing states, driven by the adverse effects of El Niño and limited groundwater. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG IBES -- $1 = 87.7950 Indian rupees