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‘Not just investors...': Tax consultant says India's brightest are quietly leaving
Not just investors, but even India's top JEE rankers are leaving the country, according to tax consultant
Madhav Pangarkar
.
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In a LinkedIn post, Pangarkar claimed that it's not only investors but also engineers, doctors, and high-ranking JEE achievers who are steadily moving abroad.
Sharing a post by Anubhav Gupta, he wrote: "This investor is leaving India... But it's not just him saying goodbye. Every year, 60,000 to 75,000 engineers and doctors leave. Around 62% of top JEE rankers fly abroad. And we lose $2 billion to just IT brain drain."
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He added: "That's the India we don't talk about — the one where the smartest quietly pack their bags. Because of corruption, red tapism, and hatred. This Independence Day, maybe we should ask: What are we losing while we celebrate?"
His remarks come on the heels of the Henley Private Wealth Migration Report 2025, which revealed that India remains among the top five countries losing the most millionaires annually. The report estimates that 3,500 Indian millionaires will leave in 2025—lower than 5,100 in 2023 and 4,300 in 2024—but still among the world's highest. Collectively, these millionaires are expected to take $26.2 billion in wealth with them.
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However, the so-called brain drain presents a more complex picture. A Bloomberg report earlier this month noted that about 13 million Indians, including professionals and laborers, were employed overseas in 2022, while more than 760,000 students left to study abroad in 2023. Crucially, Indians abroad remitted $125 billion back home last fiscal year. The report also pointed out that while India's economy is expanding rapidly, it must generate at least 115 million jobs by the end of the decade to match its population growth—something migration helps ease.
Meanwhile, Pangarkar's post drew mixed reactions. One user wrote: 'Let them leave. They thrive on the sacrifices of the poor but blame corruption and red tapism instead of taking leadership roles.'
Another said: 'There are more avenues in India. If you feel neglected by reservations, build your own path and carve your own niche.'
