HNIs Looking To Leave India? Akshat Shrivastava Says It’s Not About Tax, Hints At A Bigger Impact

Influencer Akshat Shrivastava has raised concerns over an emerging trend that is expected to significantly impact India’s economic future. In a post on X, he said that more and more rich Indians are exploring the option of moving out of the country due to multiple factors.

“I can’t tell you how many rich Indians reach out to me privately regarding moving out of India,” he wrote, claiming that the motivation is no longer only the high taxation in India.

“Their goal is not necessarily "save tax". Their goal is a better lifestyle for kids: cleaner air, safety, better opportunities. The sad part is: when rich people move out-- they leave a massive vacuum,” he noted.

He outlined that fewer than 2% of Indians pay direct taxes, a figure he called “one of the lowest in the world.” According to him, each high-net-worth individual (HNI) contributes disproportionately to the tax system. 

“If he/she leaves, that’s a significant loss for the other 98%,” the influencer wrote. Shrivastava also pointed to systemic issues in India that make life difficult.

“Things like the judiciary, pollution and infrastructure seem deeply broken in our country,” he said. “This was always the case. It was bad 15 years ago. It’s bad now.”

In a veiled criticism of the current political scenario, he added, “But, at least there used to be harmony in the past.  People used to respect each other's viewpoints. We saw our nation come together during episodes like Nirbhaya. Now what? Nothing.  AQI can go up to 999+, people will simply yap: that the metre was built by Soros. And, end the discussion there.”

He further added that the rich people leaving is only one consequence of “collective apathy towards a broken system.” 

Shrivastava’s words have resonated with many people, who noted that Indians have normalised not having basic necessities.

“The problem isn't paying high taxes, it is getting nothing in return. U ofc can't go to many govt hospitals, govt transport is trash as well except metros,” a user flagged.

Another user shared similar remarks, noting: “Salaried individuals paying 30L taxes in a country where the per capita income is just Rs 2.5 lakh. 95% companies registered in India pay less than this. Every year, they were exploited, looted and harassed. Now, either they have lost interest in working, migrating, or taking early retirement.”

Others offered different views, noting that Shrivastava may have overestimated the role of HNIs in the Indian economy.

Pointing out that indirect taxes in the form of GST is the backbone of the economy, a user said: “India’s real crisis isn’t the few who leave. It’s the many who stay and watch broken execution become national culture.”