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6,500 Millionaires May Leave India This Year

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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: Harassment of ordinary Muslims in the name of Bangladeshis should stop, Abu Asim makes serious allegations against the government over Home Minister Amit Shah’s statement

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abu azmi

Mumbai: Maharashtra Samajwadi Party leader Worker Assembly Abu Asim Azmi criticized the statement of Home Minister Amit Shah and said that it is the responsibility of the Home Minister and the Central Government to take action against Bangladeshi and Pakistani infiltrators. The population of Muslims in India has increased due to Bangladeshis. This is completely wrong. The residents of West Bengal and ordinary Muslims are being targeted under the guise of Bangladeshi and Pakistanis. He said that the government is yours in many states and at the center, so how do Bangladeshi infiltrators enter from the border? What action has the government taken against those who forge their documents so far? He said that targeting Muslims under the guise of Bangladeshi should be stopped, just as Karat Soumya is trying to fake the certificates and documents of every Muslim and is targeting Muslims. He said that the government should pay attention to how Bangladeshi infiltrators infiltrate from the Indian border. This is not the job of Congress, SP or other parties. It is the job of the government to take action against Bangladeshi and Pakistanis and to bring them to justice. But Muslims should not be harassed or disturbed. He said that action is being taken against those officers who are preparing documents for Bangladeshis.

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Mumbai Press Exclusive News

Crores of rupees were defrauded in the name of government jobs, the accused was arrested from Delhi… The accused had received money from hundreds of unemployed people

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Mumbai: The Mumbai Economic Wing has claimed to have arrested the accused in a case of cheating in the name of getting government jobs in the central and state governments in several districts of Maharashtra. Santosh Ganpat, a businessman from Navi Mumbai, filed a complaint that the accused Nilesh Kanshi Ram Rathore had charged him Rs 5 lakh for a government job and Rs 5 to 15 lakh for medical tests and appointment letters. The EOW has registered a case against him because he has cheated him of Rs 2.88 crore by promising him a job and during the investigation it was revealed that he has cheated him of Rs 10 crore. The Economic Wing has formed a team to arrest the absconding accused and searched him in Akola and other areas. The accused cheated hundreds of youths for recruitment in RCF in 2022. His complaint was filed with the EOW. The EOW received information that the accused was trying to escape from Delhi, on which the police arrested him from Delhi. The accused has been booked in Mumbai EOW and Pune Deccan. A criminal case has been registered and further investigation is underway. This operation has been carried out under the leadership of EOW chief Nisht Mishra.

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Mumbai Press Exclusive News

ANC action, drugs worth crores seized, 6 arrested

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Mumbai: The Anti-Narcotics Cell has claimed to have arrested six drug smugglers, including a Nigerian, including a Nigerian, including MD and Natropum tablets worth Rs 7.01 crore, during operations at various locations in Mumbai. 523 grams of cocaine, worth Rs 5.23 crore, was seized from a Nigerian in Vakola, Mumbai. Five accused were arrested in raids conducted in Ghatkopar, Kurla CST, Mazgaon, tardeo, Borivali areas, from whose possession Mephedone MD worth Rs 54.65 lakh was seized. These are part of five inter-state drug gangs. Other drugs including Natropum tablets were also seized in this operation. This operation was carried out by DCP Nunath Dhule on the instructions of the Mumbai Police Commissioner.

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