Exodus of India's Ultra-Rich: Seeking Prosperity Abroad

A survey reveals that 22% of India's super-rich are inclined to leave the country, driven by improved living conditions and business environments abroad. Destinations include the US, UK, Australia, Canada, and the UAE. The migration is seen as an investment in future opportunities for better standards of living and education.

According to a recent survey, 22% of India's ultra-wealthy are contemplating relocating overseas, primarily for enhanced living conditions and improved business environments.

The survey, conducted by Kotak Private in collaboration with EY, highlights the United States, United Kingdom, Australia, Canada, and UAE as preferred destinations for India's high-net-worth individuals seeking to settle abroad.

Kotak Mahindra Bank's president, Gautami Gavankar, assures that migration plans don't necessarily signal a capital exodus, thanks to financial caps on overseas fund transfers.

(With inputs from agencies.)