Modi boasts that his is the first government to have brought any “development” to India in 70 years. “Ease of doing business” is a mantra of this regime. Why, then, are entrepreneurs leaving this Modi-made paradise in droves, during Modi rule?
The numbers do not lie. 35,000 high net-worth Indian entrepreneurs have left the country between 2014-2020. Studies by the Morgan Stanley group and the Global Wealth Migration Report 2020 show that thousands of rich Indians leave India for wealthier shores.
Even as Indians become poorer and are facing record levels of unemployment and indebtedness, we are seeing an exodus of the rich (ironically the section most vocal in praise of the Modi regime.) Clearly even the section most likely to praise Modi is not impressed by his economic policies and his model of governance.