Wednesday, November 27, 2024

Indians renouncing citizenship to settle abroad  

The rise in Indians renouncing citizenship underscores the duality of globalization’s allure and the challenges it poses. While India continues to grapple with retaining talent, it remains connected with its diaspora through initiatives like the OCI, ensuring cultural and economic links endure.

PRAVASISAMWAD.COM

A record number of Indians are surrendering their passports and renouncing Indian citizenship to settle abroad, driven by aspirations for better opportunities and quality of life, reported financialexpress.com.

According to the Ministry of External Affairs (MEA), 1.75 million Indians have voluntarily surrendered their passports between 2011 and June 2023. This growing trend has seen Indians migrating to over 135 countries, including the United States, Canada, Australia, the United Kingdom, and Germany.

The year 2022 witnessed the highest number of renunciations, with 2,25,620 Indians giving up their citizenship, followed by 2,16,219 in 2023 (up to June). Among these, the United States topped the list of preferred destinations, with 71,991 Indians acquiring U.S. citizenship in 2022. Other popular choices included Canada (60,139), Australia (40,377), and the United Kingdom (21,457).

Overseas Citizenship of India (OCI)

The OCI scheme, introduced in 2005, allows Persons of Indian Origin to maintain a legal and cultural connection with India without granting full citizenship. As of January 31, 2022, nearly 40.68 lakh OCI cards have been issued, reflecting the enduring ties many Indians retain with their homeland even after renunciation.

India’s constitutional framework does not permit dual citizenship, as outlined in Article 9 of the Indian Constitution and the Citizenship Act of 1955. Those who renounce Indian citizenship often opt for Overseas Citizenship of India (OCI), which offers multiple-entry, life-long visas and parity with Non-Resident Indians (NRIs) in economic and educational facilities, albeit without political rights.

Factors Behind the Exodus

The motivations for renouncing Indian citizenship vary. Young professionals, like a 23-year-old IT engineer earning ₹1 lakh per month, express concerns about feeling left behind compared to peers studying or working abroad. Economic opportunities, better educational prospects, and improved living conditions are key drivers for this trend.

Data also highlights the contribution of Indian workers abroad. Approximately 13 million Indian nationals, including laborers and professionals, live and work overseas. The top five destinations for Indian workers are the UAE (35.54 lakh), Saudi Arabia (22.19 lakh), Kuwait (8.29 lakh), Qatar (8 lakh), and Oman (5.3 lakh).

Wealth Exodus and Global Mobility

The Henley Private Wealth Migration Report 2023 indicates that India’s wealth exodus has slowed, with 4,300 millionaires expected to migrate in 2024, placing India third globally after the UK. This marks a shift in the narrative, as earlier years saw higher numbers of affluent individuals leaving the country.

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