INDIAN MILLIONAIRES ARE LEAVING INDIA
(Image courtesy to Unsplash) India has witnessed 7,500 rich Indians leaving the country in 2022. According to Henley Private Wealth Migration Report (2023) India is expected to witness a net outflow of 6,500 ultra-rich. These ultra-rich is High Net-Worth Individuals (HNWI) who have an investable wealth of US$1 million or more. The outflow of 2023 was reported to be 5,100 make India the second worst performer in losing HNWIs after China. The top five destinations projected for these outflow in 2023 were said to be Australia, Singapore, UAE, USA and Switzerland. The largest expected outflow of these millionaires are from China, India, UK, Russia and Brazil. India was among the ten richest countries in 2022 with the population of HNWIs. India has 3,44,600 HNWIs, 1,078 centi-millionaires (those with wealth exceeding $100 millions), 123 billionaires (those with wealth exceeding $1 billion or Rs 8,200 crores). China has 7,80,000 HNWIs and 285 billionaires. US ha...