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Ease of doing business in countries like the U.S. drives the migration of Indian millionaires

6,500 Indian millionaires are leaving India in 2023, many driven by the relative ease of doing business in other countries, like the U.S. In India, starting a business involves obtaining multiple clearances, including taxation, environment, pollution, and product-specific approvals. Clearances require substantial paperwork, delays, and even bribes. Further, escalating Indian salaries make acquiring and retaining employees a challenge, as many are eager to seek a higher-paying position and long commute hours in India present yet another business challenge.

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