Connect with us
Friday,25-July-2025
Breaking News

General

6,500 Millionaires May Leave India This Year

Published

on

India is projected to witness a net outflow of over 6,500 millionaires or high net worth individuals (HNIs) during 2023 claimed The Henley Private Wealth Migration Report 2023. This is slightly lower than last year’s net outflow of 7,5000 HNIs.

China to witness highest outflow of HNIs

According to the study, India is the second-largest country in terms of migration of HNIs, following that of China. In 2023 the report claims that the net outflow of millionaires from China will be at 13,500, which is higher than 10,800 estimated in 2022.

UK third on the list

The third in the list is The United Kingdom with an estimated net outflow of HNIs at 3,200. This is double from the previous year’s predictions of 1,600.

The Henley Private Wealth Migration Report 2023 that was released on Tuesday, forecasts the net inflow and outflow of millionaires based on the projections by global wealth intelligence firm New World Wealth.

Currently India has 3.4 lakh millionaires whereas China has 7.8 lakh millionaires.

Outflow of millionaires not particularly concerning

However, the report claims that according to India’s capacity to generate new millionaires, the outflow numbers may not be particularly concerning. India’s millionaire population is expected to see an 80 per cent jump by the year 2031, making India one of the world’s fastest-growing wealth markets during this period.

This remarkable growth would be on the back of thriving healthcare, technology and financial sectors within the country.

Additionally, amongst the top three countries in the list only India has seen a decrease in the net outflow of millionaires.

Trend of returning individuals

According to New World Wealth, there has been a notable trend of many affluent individuals returning to the country. However, the exact number for the same has not been provided in the report. But the report claims that with the improving lifestyle in India there is a higher possibility of such millionaires returning to India.

Australia on the other hand is expected to attract the highest net inflow of HNIs this year with 5,200 moving to the country against 3,800 from last year. UAE ranks second with an significant influx of 4,500 new millionaires this year after it saw a record-breaking new arrival of 5,200 millionaires in 2022. The third place is held by Singapore with a net inflow of 3,200 millionaires, its highest ever on record.

Maharashtra

Mumbai Mankhurd Shivaji Nagar bridge should be opened for weighing vehicles: Abu Asim Azmi

Published

on

abu aasim aazmi

Mumbai: Maharashtra Samajwadi Party leader and MLA has demanded in the assembly that a flyover bridge should be started for heavy vehicles to curb fatal accidents in Mankhurd Shivaji Nagar. Fatal accidents are happening every month in Mankhurd Shivaji Nagar. Earlier there were high tension wires on the bridge built on GM Link Road, then the bridge was closed due to heavy vehicles. Later the wires were also removed and the flyover department has also allowed heavy vehicles to pass, however, heavy vehicles are still not being allowed to move. Today in the House, a demand was made to start the movement of heavy vehicles on this bridge. Abu Asim Azmi said that recently a tragic accident took place here in which three people died.

Continue Reading

Maharashtra

Wanted accused in Mumbai 1993 riots arrested after 32 years

Published

on

CRIME

Mumbai: Police have claimed to have arrested one of the most wanted accused involved in the 1993 Mumbai riots. Mumbai’s Wadala police arrested a fugitive accused who was on the run for 32 years during an operation to search for wanted accused. 54-year-old Arif Ali Hashimullah Khan has been arrested from Antop Hill. The accused did not appear in court during the hearing. A warrant was also issued against him, after which the police arrested the accused and presented him in the court and the court ordered his remand. This operation was carried out by Mumbai Police Commissioner Deven Bharti and Port Zone DCP Vijay Sagar.

Continue Reading

Maharashtra

Sashil Kodiyeri apologizes after tension over Marathi-Hindi controversy

Published

on

Maharashtra: In the context of the Mumbai Marathi-Hindi controversy, Shishil Kodia has apologized for his controversial statement. He said that his tweet was misrepresented. I am not against Marathi. I have been living in Mumbai and Maharashtra for the last 30 years. I am a fan of Raj Thackeray. I constantly comment positively on Raj Thackeray’s tweets. I tweeted in my emotions and I made a mistake. This tense and tense atmosphere should end. We need a favorable environment to accept Marathi. So I request you to forgive me for this mistake for Marathi. Earlier, Shishil Kodia had made a controversial statement about Marathi and refused to speak Marathi, due to which MNS workers attacked and pelted stones at Shishil’s company WeWork. After which Shishil has now apologized to X

Continue Reading

Trending