India, Dec. 17 -- An investment banker has outlined why a rising number of Indians are renouncing Indian citizenship, pointing to economic inequality, career prospects abroad and quality-of-life concerns as key drivers.

Taking to LinkedIn, Sarthak Ahuja, an investment banker and financial advisor, stated that while around 2 million people have given up Indian citizenship over the past 15 years, nearly half of that number has done so in just the last 5 years. He noted that between 2011 and 2019, an average of 1.3 lakh Indians renounced citizenship annually, a figure that has now climbed to about 2.2 lakh per year.

Explaining the reasons, Ahuja argued that although India is among the world's fastest-growing economies, the benefits of grow...