Motilal Oswal buys Tata Safari for 'minimalistic' living. Internet divided

Motilal Oswal recently bought a Tata Safari. (Image credit: @MrMotilalOswal/X)

Market veteran Motilal Oswal recently announced a lifestyle shift, expressing his decision to forego foreign luxury items such as cars and watches in favor of embracing Indian-made products.  The CEO and managing director of Motilal Oswal Financial Services Ltd. (MOFSL) said he has "turned desi" and shared a photo of his latest acquisition, a Tata Safari, adding 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,” he posted on X, tagging industrialists Ratan Tata, Anand Mahindra, Prime Minister Narendra Modi and Tata Motors.

The “vocal for local” message was given by PM Modi to encourage the use and purchase of local, made-in-India products. He first encouraged people to adopt the “vocal for local” mantra while delivering his Independence Day speech in 2020.

While Oswal’s statement appears to be a vote for Prime Minister Narendra Modi’s goal of “Atmanirbhar Bharat”, or a self-reliant India, a large section of social media users was not fully impressed with Oswal’s proclamation.
Many users 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.

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 @RNTata2000 @TataMotors… pic.twitter.com/JXmstnCDxN

— Motilal Oswal (@MrMotilalOswal) January 29, 2024

“Buying 30-40 lakh number 5-6 SUV and calling minimalist , very humble of you sir,” an X user wrote, mocking the stock market veteran.

Another user, Shajan Samuel, asked Motilal Oswal why he chose to buy an SUV and not a smaller, hatchback such as a Maruti Swift.

Why not then a small car ,like a Maruti Swift.

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— Shajan Samuel (@IamShajanSamuel) January 30, 2024

Oswal started Motilal Oswal Financial Services along with co-promoter Raamdeo Agrawal in 1987. Born into a Marwari family in Rajasthan’s Barmer, Oswal moved to Mumbai where he completed his a Chartered Accountancy (CA).