Leader Online Desk: It is truly heartwarming to talk to entrepreneurs who want to change the world, many of whom are not happy living in India. They really want to expand more globally. I think the mindset of young India is similar to Virat Kohli's, 'I should be first and not second,' said Raghuram Rajan, former governor of the Reserve Bank of India. He was speaking on the topic 'Making India an Advanced Economy 2047: What to Take' at George Washington University in America. ( Raghuram Rajan says young India has a 'Virat Kohli mentality' )
We are missing out on the democratic dividend
At this time, Raghuram Rajan said, “I spoke about India's 6 percent growth rate. Because India is not enjoying the benefits of a democratic system. A 6 percent growth rate is in the middle of the democratic dividend. China and Korea were at the very bottom when they made gains. So when we call 6 per cent growth rate good, we are missing out on the democratic dividend.” ( Raghuram Rajan says young India has a 'Virat Kohli mentality' )
The nature of jobs needs to change
On the issue of unemployment, Rajan said, “We are wondering how to create jobs?” The answer in my mind is partly to increase the capacity of our people. The nature of jobs has to change and there is a need to work on both fronts.”
The problem of unemployment dates back to the last few decades
At this time Raghuram Rajan criticized India spending billions of dollars on chip manufacturing, “Think of the chip factories. Therefore, billions of dollars in subsidies will be given to chip production. Many job sectors such as leather are not doing well. We are declining in these areas. No wonder we have more of a job problem. He also clarified that the job problem has not arisen in the last 10 years, but has been increasing for the last few decades.
Young India mentality like Virat Kohli
The mentality of young Indians is like Virat Kohli. They go to places where they find it very easy to access end markets. They really want to expand themselves more globally. The young innovators of Young India who have Virat Kohli's mentality of I am not second to anyone in the world are going to Singapore or Silicon Valley. That is why India needs to focus on improving human skills, he advised the Indian government.
Many people are not happy living in India…
“We have to ask what makes them move out of India instead of staying in India? But talking to some of these entrepreneurs and seeing their desire to change the world and how many of them are not happy living in India is really heartwarming, he lamented.
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