6,500 high net-worth individuals from India might migrate to other countries in 2023 !

(Credits : The New Indian Express)

New Delhi – As per the statistics published in the ‘Henley Private Wealth Migration Report 2023’, India is projected to experience an outflow of 6,500 high net-worth individuals (HNI) in 2023. In 2022, 7,500 HNI left India. Not only from India, but a large number of people from even China are moving to other countries. It is reported that China holds the first position in this matter while India holds the second position. Wealthy people from all over the world prefer to go to Australia, Dubai, and Singapore. It is observed that the climate of Australia, the beaches, security and safety, the best health facilities, high standard of living, improved education system, easy tax system, and sound economy seem to attract not only Indians but even citizens of other countries.

(Credits : India Today)

What are the reasons ?

There is a lack of proper coordination between the tax system and related rules in India, therefore, the affluent people are migrating; besides, there are other reasons too, such as good business opportunities, international level of management in other countries, and coordination in Government administration.

Other reasons include:

• High-quality of life

• A safe escape from several social stigmas

• Favourable tax policies

• Stable banking system

• Opportunity to earn in strong currencies and invest in the rupee

• Unrestricted or visa-free travel opportunities across the world

Editorial Perspectives

• On earning enough money, people want to leave their own country and migrate to other countries to enjoy life, which is quite an ungrateful attitude.

• The rulers, who have governed this country all these years but have not provided good facilities to citizens so that they enjoy a high standard of life, are responsible for this.