India is said to be getting deprived of millionaires. Slowly they are migrating to other places in the world.
This exodus is said to be driven by several factors including better life style, safer environment and better health and educational opportunities.
However, a report published in a section of press states, lesser number of Indians were likely to leave country in the current year as compared to last year.
According to this report 5,100 Indians left the country last year to settle abroad while this year around 4,300 were expected to leave the country.
According to Henley Private Wealth Migration report, 2024 will see fewer number of millionaires migrating to other countries.
However, the outflow is not much concerning as India continues to produce far more new high net worth individuals than it looses to immigration.
Millionaires, it has been seen tend to create a second home.
Such reports may not be carrying much weight if we take a look at Indians migrating within and outside the country in search of better things.
Though numbers are difficult to get but people from towns migrate to other states in search of work and they settle down paying occasional visit back home.
Millions of Indians over the years have migrated and the remittance they send home is also the highest.
The most sought after countries where Indians preferably choose to migrate are the US, Britain, Canada and Australia. France, Austria, Netherland, Belgium, Germany, China and Japan are second or third options except in case they necessarily require to go to the send list of countries.
Historically, India has been key contributor to global migration. According to ministry of external affairs report there are 13.6 million Non Resident Indians ( NRIs), 18.68 million persons of Indian origin and 32.3 million overseas citizens of India m residing outside India, and overseas Indians comprise the worlds largest diaspora.
Every year 2.5 million Indians (25 lakh) Indians migrate overseas which is the highest annual number of migrants in the world.
The International migration outlook 2023 has tagged India as the leading source of migrants to Organisation for Economic Cooperation and Development (OECD) in countries in both 2021 and 2022.
