The Henley Private Wealth Migration Report 2023 has claimed that 6,500 Indian millionaires are expected to leave the country in 2023, which is still less than the number of millionaires who left the country last year, i.e., 7,500.
India is just behind China in this list, which is likely to see release 13,500 millionaires leave this year.
The Wire spoke to economist Professor Arun Kumar to know the probable reasons for this migration of millionaires and what impact it will have on the Indian economy.
“The migration of High Net-Worth Individuals (HNIs) is due to certain political, social and economical reasons. Every year, we see such reports and it’s not only in the case of HNIs, but people from working class are also migrating to other countries due to unemployment and lack of job opportunities in our country. It seems that the situation in our country is not so good,” said Kumar.