Indians are dying to live abroad
But NRIs living there want to come back to India
The Crazy Part? 80% of NRIs in Australia, 75 % in the US & 70% from the UK want to return to India
THREAD: what’s causing the reverse migration of NRIs🧵 x.com
But NRIs living there want to come back to India
The Crazy Part? 80% of NRIs in Australia, 75 % in the US & 70% from the UK want to return to India
THREAD: what’s causing the reverse migration of NRIs🧵 x.com
Fundamentally, what are the reasons for migration in the first place?
For most people, it’s:
— Better education
— Standard of living
— Career opportunities.
Right?
Then why would someone want to come back?
For most people, it’s:
— Better education
— Standard of living
— Career opportunities.
Right?
Then why would someone want to come back?
If you think about it, India already had a lot of things right, like
— lower cost of living,
— better and cheaper healthcare, and
— convenience.
— lower cost of living,
— better and cheaper healthcare, and
— convenience.
In the West, you have to do everything by yourself because labor is expensive.
In India, all these facilities are available in abundance & for much cheaper.
But since grass is always greener on the other side, people bought into the idea of moving abroad for a better life.
In India, all these facilities are available in abundance & for much cheaper.
But since grass is always greener on the other side, people bought into the idea of moving abroad for a better life.
And they weren’t wrong either.
Back then, the West was shown as this amazing dreamy place
— a dreamland of opportunities.
They even took up menial jobs to start their careers & accepted being treated like second-class citizens in other countries.
Back then, the West was shown as this amazing dreamy place
— a dreamland of opportunities.
They even took up menial jobs to start their careers & accepted being treated like second-class citizens in other countries.
Most of the older NRIs left a country that wasn’t on par with the world.
But now, when they see the kind of lifestyle their peers and families live in India, and that too at an extremely low cost, the basis of moving there does hit them.
But now, when they see the kind of lifestyle their peers and families live in India, and that too at an extremely low cost, the basis of moving there does hit them.
The ones who didn’t leave got their opportunity, built their lives to a level, and have access to almost everything they have abroad.
Over the past few years, India’s physical as well as digital infrastructure has seen rapid transformation.
Over the past few years, India’s physical as well as digital infrastructure has seen rapid transformation.
A lot of foreign companies are setting up businesses in India, the startup ecosystem is booming, and there’s no dearth of opportunity.
And because of better infrastructure and opportunities, the lifestyle is improving.
And because of better infrastructure and opportunities, the lifestyle is improving.
Things that people in the West don’t have or can’t afford are normally available for most people in India.
Blinkit, Ola, Urban Company, and UPI have made our lives much easier and better.
Blinkit, Ola, Urban Company, and UPI have made our lives much easier and better.
But still, does that qualify as a reason to make someone shift countries after building their entire lives over there?
Wouldn’t broader problems that India still needs to solve
—something like pollution—also make them rethink moving back?
Wouldn’t broader problems that India still needs to solve
—something like pollution—also make them rethink moving back?
So, what happens is, there’s a canceling-out effect happening.
Almost every rationale and basis of their migration has been canceled fundamentally.
Almost every rationale and basis of their migration has been canceled fundamentally.
When the foundational basis for something is removed, it doesn’t make something move on its own, but even the most gentle pushes can make it fall.
And that is the emotional aspect.
And that is the emotional aspect.
Indians are an emotional bunch, and we crave collectivity.
Most Western countries have a very individualistic, cold culture.
Indians crave community.
Plus, as NRIs' parents start getting very old, a bigger problem emerges:
Most Western countries have a very individualistic, cold culture.
Indians crave community.
Plus, as NRIs' parents start getting very old, a bigger problem emerges:
For people who cannot afford to make their parents move to a foreign country late in life, or for those whose parents don’t want to move to such cold (literally and community-wise) countries, it becomes very tough emotionally to handle this stage of life from that far.
Even if they are able to make their parents move in with them, their medical expenses go through the roof in those countries.
And even if they are able to afford that kind of healthcare or try to use the free public health resources,
And even if they are able to afford that kind of healthcare or try to use the free public health resources,
there’s always a delay for treatment because of overwhelmed healthcare systems with a handful of doctors.
But when they left all that baggage a long time ago when they moved away from India, why are these emotional factors still able to create that much pull?
If this is coming to your mind, then you’re not wrong.
Emotional factors are subjective.
If this is coming to your mind, then you’re not wrong.
Emotional factors are subjective.
For a lot of people, if the pull of the other country was that strong, it’s hard to let go.
And the fact that over the years they have a settled family over there.
That brings us to the hard practicality of the ongoing and upcoming reverse migration.
And the fact that over the years they have a settled family over there.
That brings us to the hard practicality of the ongoing and upcoming reverse migration.
What seals the deal for most people is the fact that inflation over there is increasing like crazy.
Things their peers seem to afford very easily in India, most of them can’t even think of affording ever.
Things their peers seem to afford very easily in India, most of them can’t even think of affording ever.
When they were young, they had the bodily strength + the regular paycheck to handle the pressure of living over there.
Now, as they approach retirement, their bodies can’t afford them to do even the simple plumbing job on their own.
Now, as they approach retirement, their bodies can’t afford them to do even the simple plumbing job on their own.
Along with that, they know their regular paycheck will be gone, so they won’t be able to live throughout their retirement period just on their savings with such inflation without working.
Plus, their children are just getting into the workforce, working the...
Plus, their children are just getting into the workforce, working the...
What’s the alternative?
The same savings that were less for a retirement abroad are a huge amount in India because of our lower cost of living.
The same savings that were less for a retirement abroad are a huge amount in India because of our lower cost of living.
Plus, there are FEMA restrictions in India wherein you can only take $1 million a year from the sale of inherited property out of India.
If they reinvest the money procured from selling the inherited property into another property in India, they can claim exemptions under Section 54 or Section 54F of the Income Tax Act.
This helps them legally avoid capital gains tax.
This helps them legally avoid capital gains tax.
This makes most of these NRIs keep the money that comes from the sale of their inherited property within India.
Due to this restriction, they reflect on it, emotions shape their decision, and India’s improving conditions make it the ideal post-retirement destination.
Due to this restriction, they reflect on it, emotions shape their decision, and India’s improving conditions make it the ideal post-retirement destination.
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