Why RICH people will leave India .....(you should too?) [8 Wealth Trends that will define India]
Akshat Shrivastava・17 minutes read
Millionaires are leaving India, posing a tax problem, as the country ranks second in millionaire migration after China. With only 5% paying direct taxes, the majority relies on government support, contributing to economic inefficiency and the shrinking middle class.
Insights
- Clean millionaires leaving India are straining the government's tax revenue, with only 5% of the population paying direct taxes and a reliance on freebies for 80 crore people, creating economic challenges and highlighting the disparity in financial contributions.
- The rise of extreme capitalism in India, driven by public debt and high taxation, is impacting the shrinking middle class, necessitating investment knowledge for wealth growth. Diversifying investments internationally, particularly in the US stock market and real estate, is advised to counteract currency devaluation, emphasizing the importance of rational decision-making and continuous learning in a competitive economic landscape.
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Recent questions
Why are millionaires leaving India?
Due to taxation burden and prioritizing quality of life.
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Summary
00:00
Millionaire Migration: India's Taxation Burden
- Clean millionaires are leaving India, leading to a burden on the government for taxation.
- India ranks second in millionaire migration, with China leading in wealth levels.
- Millionaires prioritize quality of life, healthcare, education, and infrastructure.
- Two types of millionaires in India: government-supported and non-government-oriented.
- Only 5% of people in India pay direct taxes, with 80 crore people depending on freebies.
- Majority of the population in India depends on the government, leading to a "Stockholm Syndrome" situation.
- Rise of extreme capitalism in India fueled by public debt, leading to economic inefficiency.
- High taxation expected in India, with the middle class bearing the brunt.
- India's middle class is shrinking, with options to move to aspirer or rich categories.
- Government schemes in India offer low returns compared to high inflation rates, necessitating investment knowledge for wealth growth.
16:58
"Maximize profits through diversified international investments"
- Investing in India is currently a lucrative trend, with assets like gold, real estate, stock market, and crypto reaching all-time highs, offering significant profit opportunities. Sitting on cash is discouraged as it leads to loss, emphasizing the importance of understanding when to build, cut, and rotate positions across asset classes.
- Currency valuation is crucial, exemplified by the 40% increase in the cost of education abroad due to the depreciation of the rupee against the dollar since 2014. Diversifying investments internationally, such as in the US stock market and real estate, is advised to counteract the devaluation of wealth in India, highlighting the need for rational thinking, focus, and continuous learning to thrive in a competitive environment.
