Significant Number Of NRIs Opting India As Retirement Destination (image@ Pixabay)
A recent survey from a FinTech platform, SBNRI, said that an increasing number of non-resident Indians (NRI), who left India decades ago searching for better living options are now returning to India. The survey suggested that around 60 percent of the NRIs from US, UK, Canada, Australia and Singapore are thinking about returning to India after their retirement.
The survey showed that 80 percentage of the NRIs based in Australia and Singapore, 75 percentage from those based in USA, 70 percentage from UK, and 63 percentage of the NRIs from Canada are considering India as their retirement destination. It is said that a significant number of NRIs have started to invest in India to support their post-retirement plans.
The distinctly different social structures that India offers make the country’s lifestyle more favorable for NRIs in the west, who reportedly miss the typical Indian culture of diversity and find it an attractive plan post-retirement. Additionally, lower living costs in India might have significantly contributed to the though process that retirement savings and pensions can afford a comfortable lifestyle in India.
The availability of quality health care services also plays a crucial role making India, an apt destination for the NRIs. Though West have a specific mode of healthcare, which many are unwilling to let go, India’s significant strides in the healthcare domain, attracting patients across the globe make it easier for those planning to come back.
Another aspect that contributed in making India an attractive destination was is the growing consumerism and the rapid economic advancement. The retired NRIs can have investing opportunities in the Indian equity markets as part of using their savings in desired way.
