As India is a developing country, what is the reason why Indian rich people are leaving India, economy and other is the biggest challenge. If these people leave, the situation of poor people?
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| No India I am leaving |
Why people are leaving Indian citizenship
Citizenship opportunities: Some rich Indians may opt for dual citizenship or permanent residency in other countries that offer them more benefits, rights, and privileges, such as visa-free travel, business opportunities, political participation, and social inclusion.
India is becoming a developed country and proud of it, but is India really developed and what is the reason why politicians keep fooling people. Here education, work, medicine, everything has become big business.
Education: India's education system is not considered to be as good as those in other countries, which can be a factor for wealthy families who want their children to have the best possible education.
Healthcare: India's healthcare system is also not considered to be as good as those in other countries, which can be a concern for wealthy individuals and their families.
Better standard of living: Many rich Indians may seek a higher quality of life in terms of education, health, environment, security, and social welfare in other countries.
Taxation and regulation: Some rich Indians may want to avoid the high taxes and strict regulations imposed by the Indian government, especially in the wake of the anti-corruption and regulatory crackdowns.
Political and social dynamics: Some rich Indians may feel disillusioned or dissatisfied with the political and social situation in India, such as the rise of nationalism, communalism, intolerance, violence, and discrimination.
Work-life balance: Some rich Indians may value a more balanced and flexible lifestyle that allows them to pursue their personal and professional interests without compromising their health and happiness.
According to the Henley Private
Wealth Migration Report 2023, India is expected to see a net outflow of 6,500 millionaires in 2023. This is less than the number of millionaires who left India last year, but it is still a significant number.
The report also found that the top destinations for Indian millionaires are Australia, the United States, and Switzerland. These countries offer a number of advantages that are attractive to wealthy individuals, such as a lower tax burden, a more stable political environment, and better healthcare and education systems.
The exodus of wealthy individuals from India is a worrying trend. It indicates that the country is not providing a conducive environment for wealth creation and investment. If this trend continues, it could have a negative impact on India's economy.