Why Financial Planning?

Planning is bringing the future into the present so that you can do something about it NOW.

As per a report by the Ministry of External Affairs compiled in December 2018, the number of Indians abroad (NRIs, PIOs, and Overseas Indians) around that time was over 30 million.

Indians go abroad for education, work, or business. But most of them miss home and yearn for their country and its charm and uniqueness. Many of them want to come back to India at some point of time.

NRIs Want To Return To India

Must Check  – NRI Moving Back to India

NRIs Want To Return To India… 

There are a myriad of reasons to NRI Return to India  –


People went abroad in the lure of money and job opportunities. Over the last few years, India has been developing nicely. Here is a comparison of the stock market returns –

Indices 5 Years Return (%) 10 Years Return (%)
Sensex – India 75.73 78.07
DOW Jones – United States of America 89.71 112.13
FTSE  – United Kingdom 26.2 31.12
HSI – Hong Kong 37.03 27.35

People have realized that India also has the same or even more opportunities for professional development and earning income. The number of job opportunities in Western countries is less. It is not easy to start a business in a foreign land as well.

Moreover, if you compare the various processes such as banking, taxation, technological development in daily lives, India ranks high.

Many people want to start a venture on their own. There is a lot of potential demand in India as it is a developing country where needs have to be met. The population is huge and diverse so the potential of a wide customer base is high.

Read- NRI Investment Options in India

Social and Cultural Life

Most NRIs have grown up in India playing in the neighborhood and celebrating festivals with family and friends.

They have bonding with their extended families- aunts, uncles, and cousins. It is not the same abroad. Yes, in some cases, festivals are celebrated and the Indian community is active. But it takes a lot of planning and effort. In many places, the Indian diaspora is small and therefore NRIs do not get a chance to celebrate festivals such as Holi and Diwali.

Their children do not get opportunities to learn Indian music, dance, etc. These NRIs feel their children will have a cultural disconnect with their home country and prefer to move back.

Why Do NRIs Want To Return To India

Check – What will happen to NRE FD after return to India

Various Social And Economic Issues

Many countries are facing economic problems such as low growth, lack of job opportunities, and increasing income inequality. In some countries, political and economic instability results in society closing doors on people of other nationalities.

There are many immigrant issues such as intolerance and violence that are increasing in different parts of the world. In such conditions, NRIs feel it is best to go back to ‘apna desh’ where they will be welcomed & accepted.

Live Closer to Parents

A significant number of NRIs want to return to India to be with their parents. They want to spend time with their parents. Some of them return to offer physical support and care.

Others want their children to have quality time with their grandparents which is difficult to get when you are in India just during the annual holiday.

Giving Back To Their Motherland

Many NRIs have gone abroad when they were young or for their education. They have been successful and are well-off financially. They feel that they owe something to their country and want to give back to their motherland in terms of service and charity.

Many NRIs come back to India and set up non-profit ventures to tackle socio-economic issues. Others work with NGOs and charity institutions. They want to make a difference in society and bring change in a positive manner.

Must Read – Planning for Retirement in India


Few NRIs are very clear that they would like to work abroad till they retire or they achieve financial freedom – after that, they want to return for good. Till the time they retire – most of their important goals like kids education & buying a house are taken care off.

The savings that they have made can provide them a better lifestyle in India.

NRIs Returning to India

As an NRI, it is not an easy decision to make especially if your life abroad is comfortable and your family is well-adjusted there. You need to think from different aspects – family, socio-cultural adjustments, financial status, etc. before you make the decision.

From a financial aspect, remember to take care of the following things –

  • Evaluate Job Opportunities and Business Opportunities if you plan to work in India
  • Convert NRI bank accounts and Demat accounts to resident bank accounts
  • Focus on your wealth, income, and financial goals. Invest your money earned abroad smartly in a diversified portfolio.
  • Close the loop on the overseas assets and liabilities and ensure you have no tax liability abroad.

I will love to hear your plans of returning to India or staying abroad – please add in the comment section.

Published on May 27, 2019

Hemant Beniwal

Hemant Beniwal is a CERTIFIED FINANCIAL PLANNER and his Company Ark Primary Advisors Pvt Ltd is registered as an Investment Adviser with SEBI. Hemant is also a member of the Financial Planning Association, U.S.A and registered as a life planner with Kinder Institute of Life Planning, U.S.A. He started his Financial Planning Practice in 2009 & is among the first generation of financial planners in India. He also authored Bestseller book "Financial Life Planning". 

  • I am 68 year Indian who is now Canadian citizen with OCI. Married wife (born in India, grew up in England and work life in Canada). Both retired with 2 kids married and 3 grand-kids. I look after my 96 year Mom here in Canada. I plan to spent my winter time in Goa and return to Canada for few months to meet kids. Long term I plan to be in a senior community near seashore for daily beach walk. The reason is more because of returning back to mother land and to that pavitra soil where we are lucky to be born on. We have already taken the domestic healthcare in India in lieu of our longer stay in India. Financial independence has been achieved and are more focused on our future life with some travel and seeing more of Bharat.

  • My husband and I live in US for the past 41 years. In the beginning we thought we could go back to India after retirement. But after this long that seems to be impossible. Main reason is that our children are well-settled here. We don’t want to leave them. Next reason is…most of our elderly relatives including our parents passed away. There are many other reasons too.
    So we decided to stay!

  • Other than the post 2014 turn towards cultivating a dominant cultural hegemony of what is referred to as the central India “cow belt” India remains the best country in the world

    Many overseas Indians who grew up with the idea of India as envisioned by our freedom fighters and founding fathers including Gandhiji, Nehru, Ambedkar & Sardar Patel are deeply troubled by the new ruling political dispensation because it is attempting to remake India in a certain idealistic image. I have many majority community friends who are resisting a return to India. Some have chosen to emigrate from the Middle East to USA/Canada. Some who can afford have taken the passport from countries like Cyprus and prefer to remain in the Middle East. But the majority do eventually retire to India just like the elephant, seeking familiarity of its own, which is believed to return to die in the place of its birth. The majority may also return because they have lost their jobs.

    India’s biggest attraction has always been its rich history of plurality and diversity. There has never been a top down imposition of one language or culture or dharma. Of late we have seen the powers that be seek to juxtapose the liberal idea of India that our Constitutional fathers sought to create with the much narrower ideology of socially conservative groups who are imagining their own construct of one harmonious religious, cultural and political entity which may have existed only in the mythological past 5,000 years ago (or some even say 500,000 years ago) !

    In Gujarat for example we see an attempt to undermine the Constititionally enshrined right of the Christian minority to manage its own instititutions. Government there has now taken the view that minority institutions must subject their Principal and teaching staff to Government regulation on recruitment and administration. Why? Are the Church run institutions not imparting a higher quality of education than the other middle class schools receiving normal educational aid ?

    The powers that seek to turn multi colour India into monchrome India have spread their tentacles into the North East.So it remains deeply gratifying to see the push back from the southern states of Kerala and Tamil Nadu.

    As eminent political strategist Prashant Kishore stated “Other parties want only your vote. The present dispensation wants your very soul”. As long as liberal minded Indians continue to resist the top down imposition of a certain ideology and desired “perfect” culture, India will remain the best country on earth.

    • Hi Rao,
      Thanks for sharing your views. I may not agree with few things that you mentioned but as you said “India’s biggest attraction has always been its rich history of plurality and diversity.” 🙂

  • I know many NRIs who repent their decision of coming back within a month of landing.In last 20 years,There is a paradigm shift in the reason for which people leave India. It was earlier better income and education , and now its pretty much achievable in India . People look for a better system in which every single one matters.Most of my friends left India to raise their kids in a system in which things are justified and you can get justice if you raise your voice.Even though economy is booming ,social harmony is going worse, people are getting political for no reason, killing each other for supporting an ideology .

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