NEW DELHI: Approximately 4,300 millionaires are projected to leave India this year, with a significant number choosing the United Arab Emirates (UAE) as their new destination.
Last year, 5,100 Indian millionaires relocated abroad.
According to a recent report by international investment migration advisory firm Henley & Partners, India loses thousands of millionaires annually, many migrating to the UAE, the impact is mitigated by the country’s robust wealth growth.
Over the past decade, India’s total wealth has grown by 85 percent, however, the per person income has not seen any massive jump.
As per multiple reports, India is one the most unequal countries in the world with the economic gaps between the rich and poor widening more than ever now.
The Henley report predicts that approximately 128,000 millionaires worldwide will relocate in 2024, with the UAE and the USA as the top destinations.
Indian millionaires relocate for various reasons, including safety, financial and tax benefits, retirement prospects, business opportunities, favorable lifestyles, educational opportunities for children, healthcare systems, and overall quality of life.
Muslim Kashmir’s communal harmony highlighted at Chennai conference
Jammu and Kashmir, a Muslim majority territory known for its rich cultural heritage and diverse religious influences, has long been a beacon of communal harmony.
At the 9th Peace and Reconciliation Conference in Chennai, Tamil Nadu, Agha Syed Muntazir Mehdi, representative of Agha Syed Hassan, President of Jammu and Kashmir Anjuman-Sharie Shian, highlighted the significance of interfaith dialogue in promoting peace and understanding, citing Kashmir as a shining example of diverse cultural harmony.
He noted that historically, Kashmir has been a melting pot of diverse religious and cultural influences, which has fostered a unique Kashmiriyat – a shared sense of identity and cultural ethos that emphasizes harmony and brotherhood among all Kashmiris, regardless of their religious beliefs.
He highlighted the role of religious leaders, such as Mirwaiz Umar Farooq and Agha Hassan Al-Moosvi Al-Safvi, who have been promoting communal harmony through their sermons at Jamia Masjid in Srinagar and Markaz e Imam Bargha Budgam.
Agha Muntazir emphasized that their messages of peace, brotherhood, and coexistence resonate with the teachings of Islam and reflect the broader Kashmiri commitment to communal harmony.
