Indians have renounced citizenship of the country, they have been taking up foreign citizenship. According to the reports presented in parliament by the central government, 17.5 lakh Indians have renounced their citizenship till 2011.
Studying and settling outside the country is nothing new for Indians but a large number of Indians have renounced their citizenship in recent times. 87,026 Indians have renounced citizenship this year till June. As stated by the foreign minister, people living outside India are of utmost importance, as their success influences the country in a lot of ways.
Indians have claimed the citizenship of more than 130 countries as stated by the foreign minister. The American dream is still very popular among Indians, because of which more than 78,000 Indians have claimed American citizenship. In recent years, Italy, Singapore, New Zealand, Sweden, Spain, Germany and the Netherlands came across as the favourite countries.
Apart from the statistics of the government, the rich community of the country is settling in other countries in recent times. According to the Henley Wealth Migration Report, 6,500 super-rich or millionaires can leave the country this year. According to the reports, India can be in the second position among such countries from where most millionaires are renouncing citizenship.
In this list, China is at the first position, then comes India, Russia, and Brazil. According to the global migration review report, almost 2 percent of millionaires left the country in the year 2020. According to the Morgan and Stanley report prepared in 2018, 23,000 millionaires left the country since 2014.
Reasons for Renouncing Citizenship
Experts believe that the reason behind renouncing citizenship is the unavailability of dual citizenship in India. Most countries have the facility of dual citizenship all over the globe, but such is not the case with India. If you want to be a citizen of any other country, then you need to renounce Indian citizenship.
Indian immigrants have the facility of OCI (Overseas Citizen of India) card. In a way, this card grants the facility of living in India for lifetime and financial exchange. You don’t need a visa if you are arriving in India with this card. These cardholders can’t participate in the elections and they do not have the right to vote. They can’t even be on any government post and can’t buy farming land.
Experts believe that if India also starts dual citizenship like other countries, the problem of brain drain and immigration of rich communities can be sorted.
Reason for Increase in this Trend
In recent years, the number of Indians is increasing in Australia. People of Indian origin are more in numbers than people of Chinese origin in Australia, succeeded only by the English natives. Before this, Indians were giving priority to Canada and Britain for settling. Indian middle-class people have been migrating from their homes for years for better opportunities but super-rich or millionaires are preferring to settle in the countries like Dubai or Singapore.
Stronger passports and easy tax rules are two crucial reasons for this. It is important to note that the impact of Indian communities can be felt in the political landscape of other countries, which is why Prime Minister Modi considers it an asset.
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