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Why do Indians excel in US: This economist answers
Former Chief Economic Advisor of India Krishnamurthy Subramanian wants Indian policymakers to reflect on why Indians do well abroad.
Krishnamurthy V. Subramanian / Wikipedia
Former chief economic advisor of India Krishnamurthy V. Subramanian and Zoho Corporation CEO Sridhar Vembu have called for India to strengthen its indigenous capabilities and foster an environment for sustainable growth.
"India must aspire to grow at 8 percent consistently and become a prosperous nation," Subramanian stated, responding to a post by Vembu on the social media platform X. He urged policymakers to reflect on why Indians excel abroad, citing fewer regulations and more economic freedom in countries like the US. "If India learns this lesson, we can achieve our deserved place," he added.
Very well said @svembu … India must aspire to grow at 8% consistently and become a prosperous nation.
— Prof. Krishnamurthy V Subramanian (@SubramanianKri) December 28, 2024
In this, policymakers must reflect on why Indians do soo well in the US? Not as much needless regulation, rules, etc. In essence, more economic freedom. If India learns this… https://t.co/AgoBZ6rxh1
In his post, Vembu, a billionaire, emphasized the importance of homegrown innovation to address India's unique challenges. "To earn true respect in the world, Indians have to develop deep capabilities in India. Achievements abroad won't do it," he said.
Vembu highlighted his commitment to retaining and nurturing talent within India, contrasting it with America's reliance on imported talent. "As an Indian, I work hard to retain talent in India because we so badly need the talent to develop India's technology capability," he said.
He also underlined the societal implications of growth, advocating for inclusive development. "National development cannot be achieved if large sections of society are left behind," Vembu said, adding, "Is it worth the bragging rights to be number one in GDP or AI, achieved with imported talent, but at the price of leaving your people behind?"
The MAGA row
The conversation follows the appointment of Indian-American entrepreneur Sriram Krishnan as an advisor on artificial intelligence to US President-elect Donald Trump, a move that sparked controversy within Trump’s MAGA movement.
Far-right activist Laura Loomer criticized the appointment as "deeply disturbing," citing anti-immigration concerns. However, tech billionaire Elon Musk and politician Vivek Ramaswamy defended Krishnan, highlighting his expertise.
Loomer accused tech elites of manipulating immigration policies, leading to a fierce ideological dispute. Vembu, reflecting on Krishnan’s achievements, revealed that he had considered recruiting him in 2004. "I came across his programming blog when he was at SRM University and was so impressed. Unfortunately, Microsoft had already recruited him," Vembu said.
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