A recent survey conducted by SBNRI, a fintech platform focusing on NRIs, reveals India's burgeoning appeal for returning NRIs seeking business or investment opportunities. The report emphasises India's economic progress, making it the preferred destination for NRIs and attracting significant investments. Mumbai leads the choices, with 23% of returning NRIs favouring it, particularly 18% from the US, 14% from Canada, and 11% from Singapore and other countries. The findings also underscore a growing interest in Tier 2 and 3 cities, reflecting the expanding landscape of opportunities beyond Tier 1 cities. Motivations for NRIs investing in India include higher returns, growth opportunities, and the ease of business setup, with healthcare emerging as a key sector of interest.

Mudit Vijayvergiya, the founder of SBNRI, notes that India's unique offerings, spanning business, investments, employment, infrastructure, and urbanization, position it as a global economic powerhouse. The report suggests a shift in preferences towards Tier 2 and 3 cities, indicating the success of government initiatives in fostering development opportunities beyond metropolitan areas. Overall, the survey paints a comprehensive picture of returning NRIs' preferences, showcasing India's diverse and expanding landscape for business and investments, catering to the financial aspirations of NRIs from various countries.