How accurate is this narrative? The Henley Private Wealth Migration Report 2023, released recently, says the number of wealthy Indians leaving India has actually fallen. In 2021-22, 7,500 rich Indians (defined as those with investible wealth of over $1 million - Rs 8.2 crore) left India. That number dropped to 6,500 in 2022-23.
How do other countries fare? In China, which has a population similar to India's, the outflow of Chinese HNIs is twice as large as India. In 2022-23, 13,500 wealthy Chinese migrated abroad, a sharp increase over 10,800 in 2021-22.
The credibility of the narrative of an Indian HNI exodus is further eroded by examining the numbers of wealthy individuals leaving a small country like Britain. According to the Henley Report, 3,200 British HNIs "fled" the United Kingdom for greener pastures abroad in 2022-23. More pertinently, the British exodus doubled from 1,600 in 2021-22. India was one of the few countries where the number of HNIS leaving the country fell between 2021-22 and 2022-23.
That doesn't mean the Indian government is as investor-friendly as it should be Compliance measures and regulation have become onerous in recent years.
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WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
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S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
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