Millionaires leave India for NRI status

According to a recent annual Wealth Report, 43,000 Indian millionaires have left the country to settle elsewhere in the past 10 years, second only to China from where over 76,000 millionaires parted with their roots.

The report says while Indians have taken their wealth to other English-speaking countries, government restrictions have stemmed the flow of the departing millionaires, by tightening capital controls and making it more difficult to export capital.

Despite this, last year Mumbai hosted the most with 619 UHNWIs or people worth at least $30 million. Delhi followed with just 157, and Bangalore, Chennai, Hyderabad, and Ahmedabad brought up the rear.

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