‘Migration’ is a common phenomenon and has been in existence for years as animals and people have continued to move to places with more favourable conditions in order to survive.  Various researches show that every year, there’s an increasing number of affluent Indians that are establishing their domicile abroad.

As of 2019, nearly 7000 wealthy Indians left the country started residing in foreign countries.

But why is this happening? Why are affluent Indians migrating abroad? What are they searching for and why is our country unable to provide it? Let’s find out.

First and foremost is the number and kind of employment and business opportunities that are more readily available abroad than in India. Wherever there is an opportunity to make a living, people will obviously move there, especially when they have the resources to do so.

Another advantage of living in other countries is their tax policies. UAE and Kuwait do not have any income tax policies and there are others that have some. This makes these places ideal for those who want to run away from paying their taxes and are not very honest.

But another reason why a lot of HNIs are moving abroad is because of ease of business. The conditions in India are not very conducive for doing business. It is not just difficult but highly restricted. Despite the LPG policy in 1991, there is much limitation on the business and investment movement in India which makes it less desirable for new opportunities.

It is not only the economic aspects that are driving affluent Indians to other nations but the socio-environmental aspects too. These people want to live in a “healthier” environment with lesser pollution, have an enhanced quality of life with better amenities and lesser crime. Living standards in developed countries have a stark difference which is unmatched when compared to that in India. Better educational opportunities, business avenues and retirement options.

As more and more wealthy individuals/families move to foreign countries, this will definitely affect India’s economic position and therefore steps must be taken in order to address issues like ease of doing business and standard of living.