Indians Moving Wealth Abroad : A Potential Boon for India

Benefits of Indian Wealth Moving Abroad

Wealth Abroad : According to experts, a growing trend of Indians establishing themselves in key global financial centres could have a positive long-term impact on India. Nakul Beri, Senior Managing Director of Global Client Origination and Coverage at Waterfield Advisors, explains that individuals relocating abroad, whether for lifestyle preferences or other motivations, can make substantial contributions to India.

They might repatriate funds, make investments in Indian stocks, financial markets, or startups, all of which serve to strengthen the domestic ecosystem. The most significant advantage of more Indians moving abroad is the increase in remittances.

Wealth Abroad From India

With the world’s largest migrant population, India surpasses all other nations in terms of the sheer volume of people living and working overseas. The figures speak for themselves, as evidenced by the substantial $83.2 billion remitted in 2020. In this regard, only China ranks second, with $59.5 billion in remittances.

Another advantage lies in the boost it provides to India’s development initiatives. Many Non-Resident Indians (NRIs) residing in the United States, for instance, are actively involved in philanthropic endeavours within India. This includes medical professionals who send financial aid to support healthcare facilities and hospitals.

As the Indian diaspora continues to expand in key global financial centres, the previous concerns about brain drain could transform into a perspective that sees the success of Indians overseas as a positive force for India’s progress and development.

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