4,000 Indian millionaires shifted overseas in 2015: Report
NEW DELHI: India has seen the fourth biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.
According to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.
The report however noted that the migration of super rich from China and India is not a “concern”.
“The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing,” the report said and added that “once the standard of living in these countries improves, we expect several wealthy people to move back”.
In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood ..