One article.
Analysis
10 min read
3 November 2026
The honest arithmetic of wealthy Indian emigration
The dominant narrative about wealthy Indians leaving India is three years out of date. Henley’s own numbers show the net outflow peaked at 7,500 in 2022 and has fallen three years running. The commentary that pairs the Henley millionaire figure with the MEA citizenship renunciation figure of 206,000 conflates two populations that differ by a factor of 60. And the stated reasons wealthy Indians give for considering emigration — air pollution, taxes, political instability, children’s education — fail against the destination data. This is what the numbers actually say, what the behavioural frameworks explain, and what the emigration decision actually buys.