India Emerges As Preferred Retirement Destination Of NRIs!
But things have changed now and non-resident Indians (NRIs) who moved abroad are now showing interest to return and make big investments here.By: Tupaki Desk | 5 Sep 2023 11:38 AM GMT
The current trend is that Indians prefer moving abroad and settling there given the vast opportunities. The percentage of people leaving their Indian citizenship for other citizenships is increasing. There is a reason behind this, the Indian Constitution won't allow dual citizenship and to get citizenship in other countries, they have to leave their Indian citizenship.
But things have changed now and non-resident Indians (NRIs) who moved abroad are now showing interest to return and make big investments here. The percentage of NRIs with this opinion is quite high. This shows how India became a preferred retirement destination for NRIs.
A Haryana-based fintech organization conducted a survey to know the mood of NRIs in investment and around 60 percent of them are interested in India. This is the opinion of NRIs living in countries like the United States, the United Kingdom, Canada, Australia, and Singapore.
There are a few reasons for this, despite battling the deadly COVID-19 virus, India is registering big growth in sectors like real estate and others. When compared to other nations, India is stable and this is making NRIs prefer it over other countries.
The cost of living and money costs for health facilities are very low in India in comparison to these nations. It costs a bomb in these nations to have treatment for any condition and hence having health insurance that covers various costs is mandatory. But that is not the case.
The Indian economy has become vibrant of late thanks to digital payments. Without carrying hard cash we can make money payments. Real Estate is enjoying a big boom in many states and a few cities are competing with other big cities.
Another big aspect of this is that, though the NRIs moved abroad, their relatives and friends live here. Enjoying their retirement period in their motherland is the dream of many.
All these factors made India the most preferred destination for NRIs after retirement and making investments here. NRIs coming here will also get some perks like the easy change of currency and extra interest in Fixed Deposits and others. If they are interested in business, a helping hand would be given.