Escape Velocity

Is leaving India the dream? A misleading news about the United Arab Emirates (UAE) government handing out Golden Visas like candy has divulged a growing desire among Indians to set sails (or traverse the land beneath their feet) for distant shores. Shall we call it a trend yet? Maybe best not to be rationed by labels, but let’s rather spend our thought capital on why the UAE Golden Visa news (albeit a fictitious one) created such a stir.

So, here’s what happened this week — UAE-based Rayad Group put out inaccurate information that was in turn carried by an Indian news wire claiming that Indians and Bangladeshis could now call cities such as Dubai their home for a paltry sum of Rs 23 lakhs instead of the prevalent Rs 4 crore financial investment. This nomination-based route has been in existence since 2019 and can be availed only at the discretion of the UAE government. The truth dashed the hopes of a number of aspirational Indians.

When I was growing up, even while an elite few flew the Indian nest, many stayed back — conditioned by our culture, restrained by lack of resources, ensnared by familial duties, or for some like me, enthused by the potential of India. Sure, there was a life to be led overseas but there was no desperation to leave the motherland. Today, there seems to be a latent, quiet, almost surreptitious behaviour wherein young professionals can’t wait to get out of the country, parents are ensuring their child’s future prospects in foreign lands, and even mid-to-senior professionals are amassing education loans to study abroad in the hopes of eventually landing a job. India was, and continues to be even more so, the hotbed of all growth and activity. What has changed in the last couple of decades? Global behemoths and scrappy startups have set shop here to harness our purchasing power. The Indian population, both in numbers and spending power, has been the playing ground for consumer and tech companies. So, while the world is coming to sell in India, why are an increasing number of desis wanting to become pardesis (foreigners)? These NRI hopes are newer than Punjab’s Canada seekers or Kerala’s Gulf workers.

As per the Indian government, over 2.16 lakh Indians renounced their citizenship and moved out in 2023 while the number of semi-skilled and unskilled labour leaving for work trebled between 2021 and 2023. Interestingly, as per the Ministry of External Affairs (MEA), between 2011 and June 2023, 17.5 lakh Indians voluntarily gave up their citizenship to immigrate and live in over 135 countries across the world. Obviously, why would the rich be left behind? According to the Henley Private Wealth Migration Report (2023), 4300 Indian millionaires were expected to bid adieu in 2024. China was expected to lose 15,200 HNIs (high networth individuals) in 2024.

Today’s world is a very different one from 20 years ago. We are no longer a global village. Borders are closing, immigration policies are restrictive, work visas are hard to come by, hate crimes are on the rise, climate change is causing extreme weather episodes — it’s an unpredictable, negative, loathsome world out there. And yet, many want to escape our birth roots to fumble in unknown territory. Lower taxes and better work opportunities have normally been the primary drivers of the exodus. But now we also see the proclivity for better quality of life, breathable air, planned and functional public transport, and safeguarding wealth for future generations as main motivators. Indians are cognisant of the high taxes that they pay and the abysmal standard of living that they get in return. And as more and more Indians travel on holidays overseas, they are getting more than a glimpse of what life could be. Good roads, safe public transport, robust civic sense — what’s not to love? Indian policymakers and politicians must view this behaviour not through the narrow prism of politics but with the astuteness and positive action that it begs. To become a USD 5 trillion economy and stay committed to the growth trajectory, we will need to stop this new-age brain drain. A better quality of life would be a good place to start.

The writer is an author and media entrepreneur. Views expressed are personal