5,000 millionires left India last year

India has been among the world's top countries in wealth creation, as per data since 2008.
But that is only half the story. The country is also losing high net worth individuals (HNI) through migration. In 2018 alone, 5,000 millionaires from India left for foreign shores.
But India is no exception. Global migration of HNIs is a trend that has picked up over the last few years. China, Russia and India rank as the top three countries seeing exodus of HNIs worldwide, followed by UK and France.

Australia has emerged as the favourite destination for the super rich immigrant, beating USA to 2nd place. Over 12,000 HNIs moved to Australia since 2008, against 10,000 to USA and 4000 to Canada.
In the last 10 years, China has been the best performing country in terms of wealth creation, growing by 130%, while India ranked 4th with 96%. Mauritius and Ethiopia sneaked in at nos 2 and 3.

Countries like Italy and Venezuela actually saw a shrink, by 14% and 68% respectively.
As per projections, India will be the 4th largest wealth market by 2028, after US, China and Japan, and ahead of UK and Germany.

But the country's factsheet on equitable distribution of wealth doesn't paint a rosy picture. 48% of India's wealth are concentrated in the hands of HNIs, against a global average of 36%.