6,000 Indian millionaires relocated overseas in 2016

India is among the top five countries globally which saw the maximum number of millionaire outflows with as many as 6,000 ultra-rich people shifting overseas in 2016, 50% more than the previous year.

According to a report by New World Wealth, around 6,000 uber-rich Indians have changed their domicile in 2016, while in 2015 as many as 4,000 millionaires had shifted base.

The total wealth held in the country amounts to USD 6.2 trillion (as of December 2016) and the country is home to 264,000 millionaires and 95 billionaires in total.

Millionaires or High Net Worth Individuals (HNWIs) refer to individuals with net assets of USD 1 million or more.