Why Do So Many of India's Stars Live Abroad?

ODD ANDERSON / AFP

WORLD BEATER: Mittal's ritzy home in Kensington Palace Gardens, London

Try finding a hotel room in delhi or bombay these days and the chances are that, unless you booked weeks in advance, you will be turned away. India's cities are packed with international businessmen keen to sell in one of the world's most important emerging markets. Multinational conglomerates eagerly seek local partners. And nearly every corporate head of consequence makes the now-obligatory pilgrimage to Bangalore to pay homage to the country's booming software industry.

As far as the urban middle class is concerned, there has never been a better time to be Indian. After decades of being the...

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