Why are so many Indian HNIs moving abroad?

The migration of Indian millionaires is largely driven by a search for a better lifestyle, safer environment, and access to premium health and education services. But cronyism is also a factor.

The world’s wealthiest individuals are increasingly choosing to relocate outside of their home countries. And rich Indians form a significant part of this chunk.

The Henley Private Wealth Migration Report 2024, released by investment migration advisory firm Henley & Partners, has estimated that around 4,300 millionaires could leave India this year. While this is a drop from the 5,100 millionaires who left the country in 2023, the trend of Indian millionaires choosing to settle elsewhere has become increasingly rampant. 

Losing millionaires: In 2024, India is poised to witness the third highest migration of millionaires in the world, after China …


Ujjaini Dutta

Ujjaini writes for Yesterday at The Morning Context. She joins us from MEA WorldWide, where she worked as a sub-editor, and has previously worked as an editorial intern at The Wire’s LiveWire. Ujjaini published her debut novel—Manik-er Khata—in 2022.