'Convincing my grandchildren to return': Hiranandani not worried about rich leaving India
'I'm not even worried about those 20-25,000 wanting to leave India every year. It's not a big number at all,' says Hiranandani
- Oct 13, 2025,
- Updated Oct 13, 2025 5:54 PM IST
Real estate tycoon Niranjan Hiranandani has said that India's recent trend of millionaire migration is not a cause for concern, arguing that most of the wealthy who move abroad continue to earn and invest in India. He said migration of wealth creators is not unusual, as global high-net-worth individuals often relocate to tax havens.
"Wealth creators the world over move to areas that are tax havens. So not a surprise for me. What actually worried me more was that the technocrats, the people who were doctors, engineers, all those people who are now CEOs of multinationals world over, (moved out). We need to have more of them remaining in India," he said in a podcast conversation with ANI's Smita Prakash.
Hiranandani added that the number of Indians leaving each year is too small to affect the country's overall economic trajectory. "Fortunately, we have a big demographic, so we are not worried about 20,000 or 25,000 going overseas. I'm not even worried about those 20-25,000 wanting to leave India every year. It's not a big number at all. And I don't think that's a worry."
"They may be wealth creators, but they still make money in India. 90% of those 25,000 who will go there will make, invest, and put money in India. They may live in Dubai to get a quality of life. That's okay," he said.
When asked about his own family's global ties, the businessman said his son lives in Dubai and his daughter in London, but his own roots remain firmly in India. "My son lives on the 90th floor of the best residential tower in the world in Dubai," he said.
Asked whether his son, who lives in Dubai, had tried to persuade him to move there, Hiranandani clarified that it was, in fact, the opposite — he was the one trying to convince his grandchildren, who live and study abroad, to return to India. "No, I'm trying to convince my grandchildren to come back. It's the other way around. My daughter lives in London, and my grandchildren study in the United States. So we are kind of an international family, but my roots are to India and I can't change that."
He also confirmed he has never lived outside India. "No, not at all - and never thought about it either," he said.
According to the Henley Private Wealth Migration Report 2025, India continues to witness one of the world's highest outflows of millionaires, with an estimated 3,500 Indian millionaires expected to leave the country this year. Although this is lower than 5,100 departures in 2023 and 4,300 in 2024, the trend remains significant, with about $26.2 billion in wealth expected to move abroad.
The report cites reasons such as domestic tax scrutiny, regulatory hurdles, and lifestyle aspirations, with the United Arab Emirates continuing to attract Indian high-net-worth individuals through its zero-income-tax regime. Other popular destinations include the US, Singapore, and European countries.
Real estate tycoon Niranjan Hiranandani has said that India's recent trend of millionaire migration is not a cause for concern, arguing that most of the wealthy who move abroad continue to earn and invest in India. He said migration of wealth creators is not unusual, as global high-net-worth individuals often relocate to tax havens.
"Wealth creators the world over move to areas that are tax havens. So not a surprise for me. What actually worried me more was that the technocrats, the people who were doctors, engineers, all those people who are now CEOs of multinationals world over, (moved out). We need to have more of them remaining in India," he said in a podcast conversation with ANI's Smita Prakash.
Hiranandani added that the number of Indians leaving each year is too small to affect the country's overall economic trajectory. "Fortunately, we have a big demographic, so we are not worried about 20,000 or 25,000 going overseas. I'm not even worried about those 20-25,000 wanting to leave India every year. It's not a big number at all. And I don't think that's a worry."
"They may be wealth creators, but they still make money in India. 90% of those 25,000 who will go there will make, invest, and put money in India. They may live in Dubai to get a quality of life. That's okay," he said.
When asked about his own family's global ties, the businessman said his son lives in Dubai and his daughter in London, but his own roots remain firmly in India. "My son lives on the 90th floor of the best residential tower in the world in Dubai," he said.
Asked whether his son, who lives in Dubai, had tried to persuade him to move there, Hiranandani clarified that it was, in fact, the opposite — he was the one trying to convince his grandchildren, who live and study abroad, to return to India. "No, I'm trying to convince my grandchildren to come back. It's the other way around. My daughter lives in London, and my grandchildren study in the United States. So we are kind of an international family, but my roots are to India and I can't change that."
He also confirmed he has never lived outside India. "No, not at all - and never thought about it either," he said.
According to the Henley Private Wealth Migration Report 2025, India continues to witness one of the world's highest outflows of millionaires, with an estimated 3,500 Indian millionaires expected to leave the country this year. Although this is lower than 5,100 departures in 2023 and 4,300 in 2024, the trend remains significant, with about $26.2 billion in wealth expected to move abroad.
The report cites reasons such as domestic tax scrutiny, regulatory hurdles, and lifestyle aspirations, with the United Arab Emirates continuing to attract Indian high-net-worth individuals through its zero-income-tax regime. Other popular destinations include the US, Singapore, and European countries.