Why Indian Millionaires Leaving India | Tax Laws, HNIs, and Migration Trends | Revanth Chalamala

Описание: Indian millionaires are increasingly choosing to leave India, with an estimated 3,500 millionaires expected to depart in 2025, taking approximately ₹2.199 trillion in wealth with them, according to a Henley Private Wealth migration report. The primary destinations for these high-net-worth individuals include the UAE, US, Singapore, Australia, and Canada.

The main reasons cited for this migration include:

High Taxation and Lack of Value for Money: Indian millionaires pay a significant portion of their income in taxes, approximately 42.5% in income tax and an additional 18% in GST, meaning roughly 60% of their earnings go to the government. Despite these high taxes, they feel there is a lack of corresponding quality in facilities and infrastructure provided by the government. They are looking for countries where their taxes provide tangible value.

Poor Infrastructure: Even after paying various taxes like road tax, life tax, municipal tax, and toll tax, the roads often have potholes, leading to unsafe driving conditions and even fatalities, which is a major concern.

Safety Concerns: There is a perceived lack of safety, particularly for women, even in workplaces, which is seen as a governmental responsibility that needs addressing through stricter laws. Wealthy individuals do not want their families to live in such conditions.

Lack of a Supportive Ecosystem: The current system is criticized for not adequately supporting a startup ecosystem or product development, instead channeling the young population into roles like delivery drivers. There is also a lack of investment in R&D and incubation systems for new businesses. Millionaires desire an ecosystem where their children can thrive and establish successful startups.

High Import Taxes: India imposes very high import duties, sometimes up to 150% on items like luxury cars, making them significantly more expensive compared to other countries like Dubai.
Ultimately, the source suggests that millionaires are not leaving India due to a lack of patriotism, but rather because they are seeking a better quality of life, greater security for their families, and an ecosystem where their investments and taxes yield tangible benefits and opportunities.

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Why Indian Millionaires Leaving India | Tax Laws, HNIs, and Migration Trends | Revanth

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