129% Rise In NRIs Settling Abroad Post Retirement - Vibes Of India

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129% Rise In NRIs Settling Abroad Post Retirement

| Updated: February 19, 2024 19:52

A growing number of Non-Resident Indians (NRIs) are choosing foreign countries as their post-retirement settlement.

Retirement is a significant juncture prompting reflection on life choices, achievements, and aspirations.

According to a report by the United Nations, India has the largest diaspora in the world, with 18 million people living outside the country as of 2022. Many of these NRIs have spent decades working and living in foreign countries, such as the United States, Canada, Australia, and the United Kingdom, and have acquired permanent residency or citizenship in these countries.

While the exact number of NRIs who opt for foreign citizenship after retirement is not available, some indicators suggest a growing trend. For instance, according to the Ministry of External Affairs, the number of Overseas Citizen of India (OCI) cards issued to NRIs who have acquired foreign citizenship increased from 1.7 million in 2015 to 3.9 million in 2022, a growth of 129%.

However, despite the rise, the majority is still in favour of returning to their homeland despite their long professional engement in foriegn countries. Many NRIs opt to return to their roots after retirement to reconnect with their cultural heritage, traditions, and familial bonds.

The desire for a sense of belonging and identity draws NRIs back to their homeland, where they can contribute to the society and economy and partake in civic rights and duties.

Strong family ties, with spouses, children, grandchildren, and relatives residing in India also influence NRIs to return to their roots to stay close to loved ones and support their endeavours.

Opting to return to their roots allows NRIs to immerse themselves in the cultural fabric of their homeland offering a firsthand experience of cultural heritage, traditions, and practices. NRIs can actively participate in local festivals, ceremonies, and community events, fostering a deeper connection with their roots.

Armed with diverse skills and experiences gained abroad, returning NRIs play a pivotal role in community development projects, social initiatives, and educational programmes.

Proximity to family members becomes a crucial advantage for NRIs returning to their roots. The emotional support derived from being close to spouses, children, grandchildren, and extended relatives fosters a strong sense of familial unity. Shared experiences, celebrations, and day-to-day interactions contribute to building lasting bonds, creating a supportive network that can be especially beneficial during the challenges of retirement.

While many NRIs may choose to explore new horizons abroad, there is also a strong sense among others of returning to their roots and reconnect with one’s cultural identity and heritage. Whatever the choice, NRIs can make the most of their retirement by planning, staying connected, and living purposefully in their homeland.

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