World Wealth Report confirms 6000 millionaires moved out of India in 2016

More that 6000 millionaires have moved out of India in the year 2016 up from 4,000 such individuals that did so in 2015, reported Live Mint.

Live Mint cited the report released by World Wealth Report, according to which Indians own a staggering $6.2 trillion and there are 264,000 millionaires and 95 Billionaires in the country.

Report also showed confidence in the countries growth and said the next decade will be positive for local financial services, IT, real estate, healthcare and media sectors.

Hyderabad, Pune and Bangalore will become the region of high growth. Hospital services and health insurance sectors will gain the most out of the economic development.

Report said more than 82,000 ultra rich people have moved out of the country in 2016 and changed their domicile as compared to 2015 when only 64000 people went out of the nation.

A individual having more than $1 Million is said to be High Net Worth Individual (HNWI's). France leads the list in terms of HNWIs moving out of country.

Australia (11000) is the first preference for these individuals to make a base because of its strategic location which allows people to operate their business in Asia and other Middle Eastern countries. Highly developed health system is another reason for choosing Australia as base by HNWIs.

US (10000) and Canada (8000) occupy second and third position in terms of inflow receptively.

Akhilesh Yadav and Tejashvi Yadav have retweeted the report and asked government to share the list of people who have moved out of the country along with the reason for doing so with public.

They seem to smell some corruption in this.


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