Dr. Shriram Nene, the husband of Bollywood actress Madhuri Dixit, recently shared his thoughts on the growing trend of Indian High-Net-Worth Individuals (HNIs) relocating abroad. He expressed his views on the social media platform X, responding to a post by renowned Indian entrepreneur and film producer Ronnie Screwvala.
Dr. Shriram Nene on Indian HNIs moving abroad: “I would say that India is fairly safe and is…”
Screwvala’s concerns on migration
Ronnie Screwvala initiated the conversation by questioning the logic behind Indian HNIs moving to countries where they might be treated as second-class citizens despite their wealth. He emphasized the irony of startups that previously believed it was advantageous to incorporate overseas, only to later seek reverse listings back in India. Screwvala’s post read, “Really don’t get this – why would you want to move to somewhere you cannot call home! Where you will be a second-class citizen regardless of ‘millionaire tag’. It’s like multitude of Start Ups that felt it was great to incorporate overseas – only to now line up for Reverse Listing!”
I would say that India is fairly safe and is the center of the universe for business. The infrastructure is improving. Governance is much better. Taxation is a bit challenging as is the LRS policy. But honestly, the culture and people here are phenomenal. Agree with u. This is… https://t.co/URtR3hjBfi
— Dr. Shriram Nene (@DoctorNene) June 26, 2024
Dr. Nene’s perspective
Resharing Screwvala’s post, Dr. Nene acknowledged the challenges of taxation in India but highlighted the country’s positive attributes. He stated, “I would say that India is fairly safe and is the center of the universe for business.” He further emphasized the importance of improving infrastructure and governance, while also appreciating the culture and people of India, saying, “But honestly, the culture and people here are phenomenal. Agree with you. This is home for us.”
Public reaction on social media
Dr. Nene’s post received varied responses from X users. Adventurer Arvind Ganti contended that India benefits those with established assets, privilege, and networks, making it more challenging for the average Indian without such resources. He noted that living in the US fosters a mentality of reinvention through hard work and grit. On the other hand, another user agreed with Nene, saying that after traveling to different countries, they found India to be the best place to settle.
Underlying reasons for migration
The article shared by Screwvala from the Morning Context shed light on the motivations behind the migration of Indian millionaires. It noted that the search for a better lifestyle, safer environment, and access to premium health and education services are primary drivers. Additionally, the piece highlighted cronyism as a significant factor influencing these decisions.
Dr. Nene’s comments reflect a broader debate about the advantages and challenges of living in India versus moving abroad. While taxation and infrastructure improvements are critical areas needing attention, the cultural and personal ties to India remain strong for many, making it “home” despite the hurdles.
Also Read: Madhuri Dixit’s husband Dr Shriram Nene surprises her on Dance Deewane, dazzles with ‘Tumse Milke’ performance
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