Nuts & Bolts-Leavin’ on a Jet Plane
[Business World]
Published date: 31st Mar 2018
View PDFMany of us are making our fortunes elsewhere
John Denver’s 1969 Rendition of this song is famous, but my heartstrings are tugged more by the Peter, Paul and Mary version of 1967. That was just two years after the Hart-Celler Act amended America’s immigration laws and flipped around the overwhelmingly white, European tide to let millions of Asians in.
The Indian professionals who flocked to the U.S. over the past half-century haven’t exactly been “huddled masses yearning to breathe free”.
They’ve mostly emigrated because they found better opportunities (and a couple of Nobels) and prosperity.
The Indian emigres of the 21st-century had had nearly three decades of economic freedom. They haven’t seen a single big war, or famine, or large-scale repression. But go they do. I suppose it’s a curtain-raiser for 2050 when Indians will be the most numerous human beings on our planet, and they will spill over on crowded shores.
Still, it is depressing that white-taxpayers at home subsidise bad government-controlled banks and crooked businessmen, as many as 7,000 Indian (dollar) millionaires changed their domicile in 2017, up from 6,000 in 2016. The U.S. was not their only destination – Australia, Canada, New Zealand, and the UAE were also popular. There are plenty more where they came from: a New World Wealth survey put India’s total wealth in 2017 at $8.23 trillion.
New Research data shows that the Indian population in the United States alone rocketed from 1.9 million in 2000 to 3.98 million in 2015. Of course, a big chunk of this inflow was thanks to the ‘IT generation’ – young software engineers or work visa who stayed on.
Think about it. This diaspora is not forsaking its motherland. It is working in top-drawer white-collar jobs or investing in businesses overseas and making it wealth. It is educating its children in the best universities abroad. It is hobnobbing abroad. It is holidaying abroad in Amalfi, Biarritz or the Costa Brava rather than Agonda, Benaulim or Canacona in India. Perhaps the exiles will return to their motherland when circumstances are more conducive, and their Diwalis will spen the platters with the best dishes given when the local Saraswati Shiksha Mandir gets the folks together for Navratri.
Meanwhile back home the distance between the haves and might-haves is widening by the day. A Knight Frank survey said 200 super-rich Indians had wealth of over $500 million in 2017. The rich in India are growing their wealth much faster than the global average. The Hurun survey said India’s wealth said we had 131 dollar billionaires last year, the third-highest in the world after the United States and China.
It’s good to feel positive about those of us who go abroad. But it’s worrying to remember that India’s gross domestic income per capita was $1,670 in 2016 compared with $56,810 in the United States.
If only those of us who stayed home were better at making an honest living. Sadly, we are not doing very well in crimping our genius for corruption, dishonesty, fraud, and evasion.
India did rather poorly in Transparency International’s 2017 Corruption Perceptions Index – scoring 40 points from 100, where one is most corrupt and 100 is very clean.
India’s 2017 score was unchanged from 2016 and slightly better than 38 points of 2014. Our rank was 81 out of 180 countries – a long way to go.
JiliGames: Best Philippines Slot Online & Casino. Fast Login, Register, and Official APK Download. Experience the best Philippines slot online at JiliGames Casino. Enjoy fast jiligames login, easy jiligames register, and the official jiligames download apk. Join now! visit: jiligames
[2945]phgame register|phgame slots|phgame casino|phgame login|phgame app Experience the ultimate online casino in the Philippines with phgame. Complete your phgame register today to enjoy premium phgame slots and live dealer games. Access your account via phgame login or download the phgame app for seamless mobile gaming on the go. Join phgame casino now for the best rewards and big wins! visit: phgame
[8210]Poneclub Philippines: Best Online Casino & Slots – Easy Login, Register, and App Download. Join Poneclub Philippines, the best online casino for top Poneclub slots. Fast Poneclub login & register. Secure Poneclub app download for gaming on the go. Play and win today! visit: poneclub
[6016]p828: Best Online Casino Philippines. Access p828 Login, p828 Slot, and Daftar p828 via the latest p828 Link Alternatif. Download p828 APK for premium gaming! Join p828, the best online casino in the Philippines! Experience premium gaming with top-rated p828 slot titles, secure p828 login access, and seamless daftar p828 registration via our official p828 link alternatif. Download the p828 apk today to enjoy a world-class mobile casino experience with massive jackpots and 24/7 support at your fingertips. visit: p828
[8167]The Philippines’ Trusted GCash Online Casino for Legit Slots and Games visit: 9apisologin
[4683]VPH777 Online Casino: Official Login, Register, Slots, and App Download for Philippines Players. Experience the best at VPH777 Online Casino! Easy vph777 login and register to play premium vph777 slots. Get the vph777 app download for top-tier gaming in the Philippines. visit: vph777
[4295]playph download|playph slots|playph casino|playph login|playph app Experience the ultimate online gaming at **playph casino**, the Philippines’ premier destination for top-rated **playph slots** and live games. Secure your **playph login**, get the official **playph download**, or install the **playph app** to enjoy seamless mobile play and win big anytime, anywhere! visit: playph
[207]Jiliglory Online Casino Philippines: Secure Jiliglory Login, Register & App Download. Play the Best Jiliglory Slots & Win Big Today! Experience Jiliglory Online Casino Philippines. Secure Jiliglory login, easy Jiliglory register, and Jiliglory app download. Play top Jiliglory slots and win big today at the most trusted online casino! visit: jiliglory
[401]The Philippines’ Premier Online Casino: Secure 91ph Login and Fast GCash Transactions visit: 91phcom
[4860]Top646 Casino Login & Register: Best Philippines Online Slots & App Download Join Top646, the #1 Philippines online slots destination! Quick Top646 login and register to play premium games. Get the Top646 app download for mobile access and start winning at Top646 casino login today! visit: top646
[1866]Winph444 Online Casino Philippines: Quick Login, Register & App Download for the Best Winph444 Slot Games. Experience the best at Winph444 Online Casino Philippines! Access quick Winph444 login and register to play top Winph444 slot games. Secure Winph444 app download here for big wins! visit: winph444