While studying and living abroad is not new to Indians, a large number of Indians have given up their citizenship in recent years. According to a written reply given in Parliament, the central government said that since 2011, around 17.50 lakh Indians have renounced their citizenship. Till June this year, 87,026 Indians have done so. However, the External Affairs Minister acknowledged that the government believes that people living outside the country mean a lot to us. The country only benefits from his success and influence. The External Affairs Minister said that India has acquired citizenship of more than 130 countries. However, the American Dream is still the most popular among Indians, so in the year 2021, more than 78 thousand Indians took citizenship there. It is followed by Australia, Canada and Britain. Italy, New Zealand, Singapore, Germany, Netherlands, Sweden and Spain have also emerged as favorites in recent years.
However, data other than official statistics also says that in recent times the rich section of the country is settling in other countries. This year’s report of Henley Private Wealth Migration says that 6,500 super rich or millionaires can leave the country this year. According to the report, India may be second in the list of countries where maximum millionaires are leaving the country. China is at number one in this list, then India, Russia and Brazil. Earlier, according to the Global Wealth Migration Review report, in the year 2020, two percent of the country’s millionaires had left the country. A 2018 report by Morgan & Stanley states that 23,000 millionaires have left the country since 2014.
The reason behind leaving citizenship Experts believe that one of the reasons behind leaving citizenship is the absence of dual citizenship. Actually, many countries of the world have the facility of dual citizenship, but this is not the case in India. If you want to become a citizen of any other country, then you will have to give up your Indian citizenship. There is facility of OCI card for overseas Indians, OCI i.e. Overseas Citizen of India. In a way, this card gives the facility to stay in India for life, to do financial transactions. Also, with the card one can come to India without Visa. However, the cardholder can neither contest nor vote in these elections. Can’t even hold a government job and a constitutional post. They cannot even buy agricultural land. Experts believe that if dual citizenship is started like other countries, then along with such brain drain, the exodus of rich people of India will also stop.
