Bigger India
Where are India’s dollar millionaires fleeing
The US, not surprisingly, is a big draw for high net worth Indians, looking to tap international markets and pursue entrepreneurial dreams.
Ruchir Sharma, head of emerging markets and chief global strategist at Morgan Stanley Investment Management, said at an event in Delhi recently that the highest number of millionaires leaving their country of origin was from India. His comment was based on a survey carried out by NW Wealth, which found 23,000 millionaires have left India since 2014. In 2017, it was 7,000.
So why and where are these Indian millionaires going?