Motilal Oswal, Managing Director and Chief Executive Officer (CEO) of Motilal Oswal Financial Services, recently announced his decision to forego foreign luxury items such as cars and watches in favour of embracing India-made products. Taking to X (formerly Twitter), Mr Oswal shared a photo of his new car, a Tata Safari, and said he has "turned desi". He also added that his next vehicle would be from the Mahindra Group.
"In my pursuit of minimalistic and simple living, I have turned Desi now. Stopped buying foreign cars, watches and other luxuries. World-class Indian products are available now. Started with my Tata Safari, next would be Mahindra. #Vocal for local," Mr Oswal tweeted, tagging industrialists Ratan Tata, Anand Mahindra, Prime Minister Narendra Modi and Tata Motors.
Take a look below:
Mr Oswal announced his lifestyle shift on Monday and since then his post has accumulated more than 1 million views and nearly 8,000 likes. In the comments section, Tata Motors Cars also reacted to Mr Oswal's post. "Many congratulations @MrMotilalOswal on embracing the minimalist lifestyle by going #VocalForLocal. Tata Safari is more than just a car, it's a statement of pride in Indian craftsmanship. Here's to miles of triumph and the power to #ReclaimYourLife in all your upcoming," the tweet read.
Some users also called Mr Oswal's move "inspirational". "What an inspirational step Motilal ji. Indian products indeed are world class now, we are at the forefront of technology. It's India's time and we Indians must follow the path to Localization #VocalForLocal #MakeInIndia #ProudIndian," wrote one user. "Simplicity is always better," commented another. "I'm proud of your decision and we're better than imported goods, enjoy and advise others also with your experience," added a third.
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However, several internet users expressed their dissatisfaction over Mr Oswal's proclamation. Many felt that the billionaire going for a Tata Safari and then saying that his next buy would be a Mahindra vehicle did not truly reflect the essence of "minimalistic and simple living" as he claimed.
"After reaching a net worth of Rs 50K crore+ or $6 Billion they want to live a minimalistic life. How gracious!!" wrote one user. "Buying 30-40 lakh number 5-6 SUV and calling minimalist, very humble of you sir," sarcastically said another.
According to the official site, Motilal Oswal started Motilal Oswal Financial Services along with co-promoter, Raamdeo Agrawal in 1987. He has been awarded the Rashtriya Samman Patra by the Government of India for being amongst the highest-income taxpayers in the country for a period of 5 years.
