“ We have to look for … ”: Harsh Goenka asks why the billionaires of India will not return despite the exodus of London, in the United States
In a stimulating statement, Harsh Goenka, president of the RPG group, raised a critical question concerning the migration models of the billionaires of India. He highlighted a worrying tendency: while many India ultra-rich leave countries like London and the United States, none seems inclined to return to India.
On the social media platform X (formally Twitter), Goenka wrote: “The richest Indian billionaires leave London for tax and security problems, and some leave America because they don’t like Trump. They look at Dubai, Singapore, Portugal, Switzerland … But not the one I know is to consider India as an option. For what? This is the question that we have to look for our hearts. “
The actor Ranvir Shorey reacted with humor at the post, jokingly, “because it’s too crowded! More people need to become billionaires and leave!”
However, a strong answer on the platform deepened the question: “This is a very relevant question. The answer is obvious, but we refuse to see reality and to live instead in a myopic illusion. The truth is that India is largely dirty, lack of basic infrastructure, is terrible at a high level.
A recent survey conducted by Kotak Private, in collaboration with the consulting firm EY, revealed that a large percentage of ultra-rich in India is considering emigration. According to the survey, 22% of the super rich Indians said they were planning to leave, citing poor living conditions, a lack of essential infrastructure and higher life standards found abroad. This study was based on the responses of 150 ultra-elevated individuals (UHNIS).
Adding to this, the private migration report of Henley 2025 painted a painting which gives to think for the future landscape of the wealth of India. India is one of the first five countries that lose the most millionaires per year. While the number of millionaires leaving India decreased – from 5,100 in 2023 to around 3,500 in 2025 – the country is still classified among the highest in the world in terms of flow.
