Reportedly with united states and europe making three quarters of the coronavirus cases worldwide, NRIs are preparing to return to “safe haven” india by buying a piece of the country’s real estate. With india reporting a little over 40k COVID infections and job prospects dwindling sharply in foreign countries overseas high networth individuals are house hunting as a backup plan, if foreign economies nosedive further.
Furthermore NRIs are realising that india is the only country that they can really call their own. The way our government has proactively send planes and got people from all parts of the world is really commendable. This is giving them confidence that india is a country to be in. Our medical facilities are also among the best in the world. The mortality rate of Covid 19 death are the lowest in India.”
According to data compiled by Johns Hopkins university nearly 2.5 lakh people have died globally from COVID-19. The number of confirmed cases exceeds 35 lakh, while nearly 12 lakh people have recovered. The financial woes caused by the pandemic have been severe with the US government desperately trying to stave off an economic collapse. According to IMF, Global growth is set to fall to -3 percent, as it plunges into what has been called the worst recession since the Great Depression. india is a silver lining which is projected to grow at 1.9 percent, though considerably lower than the 5 percent levels thought earlier.