F00-Indian Economy

Over 8000 millionaires set to leave India  https://www.telegraphindia.com/business/over-8000-millionaires-set-to-leave-india/cid/1870040 The key drivers for migration are the desire for higher standard of living, better educational and health facilities.  and also to get away from the stringent tax residency rule and the high rate of individual tax in India, Henley Global Citizens Report, 2022 Q2, stated.  The review of the migration trends of the world’s wealthiest in 2022, part of the report prepared by investment advisory Henley & Partners with wealth intelligence firm New World Wealth, pointed out that the loss of millionaires was “not a big concern” for India because the country produced far more new millionaires than it lost to migration. “New World Wealth’s general projections for India are very strong. We expect the high-net-worth individual population to rise 80 per cent by 2031