NEW DELHI: India has seen the fourth-biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.
According to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.
The report however noted that the migration of super rich from China and India is not a "concern".
"The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing," the report said and added that "once the standard of living in these countries improves, we expect several wealthy people to move back."
In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.
After becoming millioniare nobody wants to stay in the country thats the irony, because they know that they will have all sorts of trouble from government to non-government and hence prefer to work outside in peace
Shifting of 4000 millionaire from India is not a good sign ,though India produces more millionaire then outbound millionaire. If Millionaire are shifting because of old age & to stay with children it is acceptable reason of shifting, but if shifting is due to other reasons like poor infrastructure facilities, Rising Air pollution , increasing crime rate across the country , then Govt has to introspect & take up remedial measure.
There are many reasons for the rich people to migrate to other countries..
MODI IS ALSO GOING OVERSEAS for the fresh clean air
Australia will be too willing to accept these super rich shifting their bases there, and hence it is a win win situation.
In Few Years Our India Will Be Compared To Ethiopia SOMALIA. ..thanks
Vishnu Swaroop Kyanam
Modiji has made their life difficult unlike the Khan Grass which Pampered them. Hahahahahahahahahaha.
that is really huge count
impossible, politicians are still here
Living conditions and doing business is much better in US and Europe. These countries are corruption free and offer excellent facilities for general public.
The west is heading towards an economic disaster.
France itself is not a stable... Fear of terrorism is lying there too
I think India also needs mass migration to cope up with population and job growth. To be a net exporter.
Let these people invest and send foregn currency to India.