PM Modi in Silicon Valley

Oh what a circus, oh what a show. Silicon Valley NRIs have gone to town. Over the visit of the Indian PM Narendra Modi.

Thousands have gathered in the SAP Center in San Jose, CA, to hear the great man speak. A lot of self-congratulatory speeches will be made, and the successes of NRIs in the US recounted. There is only one truth that will not be mentioned: that all these NRIs are in the US because they voted with their feet. They voted with their feet and came to the US because of what India is. This fact should actually shame Indians and its leaders. But instead they are oblivious to its implications. And it will be a cold day in hell when Indian leaders will ask themselves, these questions: “Why is it that so many hundreds of thousands of Indians vote with their feet? Why do they create wealth for themselves and for those foreign lands instead of creating wealth in India? Could it be because in India the government of India has put massive barriers to the creation of wealth?”

Dear PM Modi, when the circus is over, when the performers have done their song and dance, when the photos have been taken, when the NRIs have all patted themselves on a great event they made possible, do ponder the simple question of why are there so many NRIs? Because there is another phrase that describes these NRIs — economic refugees and economic migrants. When will India be such a place that there will be very few NRIs to welcome Indian politicians in foreign countries?

I don’t mean to rain on the parade but those questions need some attention if not a response.

I remain an NRI supporter of yours,

Governments Don’t Create Corporations

Governments of successful economies don’t create large corporations.

The economic prosperity of a country is usually the consequence of the economic freedom that its citizens have. Entrepreneurs create a large number of small enterprises. Some of these grow up to become giant globe-spanning multinationals not because of government largesse but because some of those small enterprises created value for its customers and grew organically as more people found its goods and services worth buying.

Google, Facebook, etc etc, were not conjured up by some politician, or a bureaucracy, or through government diktat, or any “Make in India” type marketing campaign. For large corporations to grow in India, what is needed is an environment that is conducive to the small enterprise. This will of course not happen because there’s little hoopla one can engage in by freeing the little guy.
Continue reading “Governments Don’t Create Corporations”

%d bloggers like this: