Amid India’s economic growth and startup revolution, a worrying trend is emerging the country’s millionaires are rapidly migrating abroad. According to the Henley Wealth Migration Report 2025, 3,500 rich people from India may go abroad this year, which may be slightly less than previous years, but still keeps India among the top migrating countries. With these people, wealth worth ₹2.18 lakh crore is also leaving the country, which is not just capital but also the prospects of India’s future.
There are many reasons behind this exodus, including government tax strictness, digital tracking, strict rules on cryptocurrency, and the desire for a better lifestyle. CBDT’s record tax collection and tax demand of ₹42 lakh crore have made the rich realize that privacy is now an illusion.
At the same time, digital tools like UPI and GST have made it easier to track every transaction, making high net worth individuals feel uncomfortable. 30% tax and 1% TDS on crypto has turned investors towards foreign exchanges. In a survey by Kotak and EY, 22% of super-rich Indians cited better healthcare, education and global mobility as the reason for leaving the country.
Countries like UAE, USA and Portugal are attracting these rich people through Golden Visa and EB-5 scheme. Recently, the rumor of UAE Golden Visa for ₹ 23 lakh proved how eager India’s rich are to settle abroad. The irony is that between 2014 and 2024, the number of rich in India has increased by 72%, but the government will now have to think whether just making them rich is enough or is it equally important to keep them in the country.