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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

28 structures affected by the Ghatkopar road widening project demolished.

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Mumbai: Yesterday (October 7, 2026), the ‘N’ Ward office of the Mumbai Municipal Corporation carried out a demolition drive targeting 28 structures in Ghatkopar (West) that were affected by the road-widening project between Jhunjhunwala College and the Andheri-Ghatkopar Link Road.

This demolition campaign was conducted under the supervision of Assistant Commissioner (‘N’ Ward) Jaydeep More.

Adequate police security was deployed alongside municipal officers and staff during the operation.

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Maharashtra

Man arrested in Mumbai for defrauding senior citizens and others using fake APK files.

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In a case involving the defrauding of a 72-year-old senior citizen in Mumbai on August 13, an unidentified caller—posing as Dinesh Kumar, a Senior Manager at Bank of India—gained the victim’s trust by promising to facilitate the issuance of a Senior Citizen Card. The caller sent an APK file named “Senior Citizen Card http://Verification.apk” to the complainant’s WhatsApp and coerced them into entering personal and bank debit card details, resulting in the misappropriation of ₹5,62,000. Initially, the Byculla Police Station registered a case (No. 497/26) under Sections 318(4) and 319(2) of the BNS and Sections 66(C) and (D) of the Information Technology Act, 2000. While the Property Cell of the Mumbai Crime Branch was conducting a parallel investigation, senior officials ordered the transfer of the case to the Crime Branch; it was subsequently re-registered as Case No. 927/2026 for further investigation.

A thorough technical analysis of the aforementioned APK file was conducted, leading to the identification and arrest of the accused—a 36-year-old male software developer and resident of Madhya Pradesh—who was responsible for developing the fraudulent APK file. During a raid on the accused’s office in Madhya Pradesh, authorities recovered a pen drive, a CPU, three hard disks, a Wi-Fi router, and three mobile phones. Preliminary technical analysis revealed that the accused was utilizing servers from various service provider companies. Investigation confirmed that the accused had created and sold a total of 2,805 malicious APK files to other cybercriminal gangs. These files were used to defraud 9,673 people across India. Complaints regarding these incidents have been registered on the cyber helpline number 1930—specifically 1,074 nationwide, 143 in Maharashtra, and 36 in Mumbai—revealing a total fraud amount of ₹15.75 crore. Cases have been cracked involving 88 incidents across India, 8 in Maharashtra, and 5 in Mumbai.

This successful operation was executed by a team comprising Police Commissioner Devin, Joint Police Commissioner Anil Kumbhare, Additional Commissioner Krishna Kant Upadhyay, DCP (Crime) Raj Tilak Roshan, and the Crime Branch. DCP Raj Tilak Roshan stated that this action was taken in response to fraud targeting the elderly under the guise of issuing senior citizen cards; the police also regularly conduct awareness campaigns among the elderly regarding this issue.

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Maharashtra

Mumbai CSMT: Case Filed Against Garjana Morcha Over Demand to Scrap SIR; Nitesh Rane Defends Action, Calls for Aditya Thackeray Passport to Be Seized

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Mumbai: The Mumbai Police have registered a case against the organizers of the ‘Garjana Morcha’ (Roaring Rally), which was held without permission at Azad Maidan near the BMC headquarters. The protest, organized by Shiv Sena chief Uddhav Thackeray and MNS chief Raj Thackeray, saw the participation of party workers from across Mumbai and the state. During the event, demands were raised to cancel the FIR, and Raj Thackeray—in his address—termed the FIR itself illegal; he also proposed a boycott of the elections. The Mumbai Police have registered the case under Sections 223, 189, and 190 of the BNS. Authorities stated that the case was filed due to the unlawful assembly of a crowd. The Azad Maidan Police have initiated an investigation into the matter, and the case has been registered against the organizers as well as other leaders. A case must be registered for an illegal protest: Nitesh Rane
Following the police case registered after the Azad Maidan protest, BJP leader and minister Nitesh Rane stated that filing a case for an unauthorized, illegal protest is mandatory because the Constitution of Babasaheb Ambedkar prevails here. He alleged that the protest was held for “Vote Jihad.” Furthermore, in a vitriolic outburst, Rane noted that Aaditya Thackeray was absent from the protest organized by Uddhav and Raj Thackeray; claiming Aaditya knew action would be taken against him and might flee, Rane demanded that his passport be confiscated.

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