23,000 India’s Rich Have Left The Country Since 2014
A 2018 report by investment bank Morgan Stanley found 23,000 Indian millionaires had left the country since 2014.
A recent Global Wealth Migration Review report revealed nearly 5,000 millionaires, or 2% of all high net-worth people in India, left the country in 2020 alone.
Bob Dhillon, Canadian-Indian real estate magnate and chief executive officer of Mainstreet Equity Corp, views this as the third wave of migration from India.
The first wave came when poor and marginal farmers from Punjab moved to western countries over a century ago.
Later, professionals left India in search of better working and living conditions.
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