Investment banker says inequality and overseas jobs are driving Indians to give up citizenship
An investment banker has outlined why a rising number of Indians are renouncing Indian citizenship, pointing to economic inequality, career prospects abroad and quality-of-life concerns as key drivers. Sagar Awatade shared a post on X describing his quick experience at the Passport Seva Kendra.(Unsplash/Representational Image) Taking to LinkedIn, Sarthak Ahuja, an investment banker and financial advisor, stated that while around 2 million people have given up Indian citizenship over the past 15 years, nearly half of that number has done so in just the last 5 years. He noted that between 2011 and 2019, an average of 1.3 lakh Indians renounced citizenship annually, a figure that has now climbed to about 2.2 lakh per year. Why are Indians renouncing citizenship? Explaining the reasons, Ahuja argued that although India is among the world’s fastest-growing economies, the benefits of growth are unevenly dributed. According to him, if the top 5% of income earners are excluded, India’s average per capita income drops to nearly half, leading many to believe they have a better chance at equitable growth overseas. “Which is why people leave for education, then take up jobs abroad, and after completing the requisite term, switch over their citizenship. And then of course, the charm of clean air, water also excites them,” Ahuja wrote. (Also Read:
