Raghuram Rajan says young Indians are dissatisfied

He says they are establishing businesses abroad

His revelation stresses India's need to address concerns

Former Reserve Bank of India Governor Raghuram Rajan recently highlighted a concerning trend wherein a substantial number of young Indians are opting to establish businesses abroad due to their dissatisfaction with opportunities in India. 

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Rajan attributed this migration to a “Virat Kohli mentality,” wherein young entrepreneurs seek easier access to global markets. 

He was speaking at a conference on ‘Making India an Advanced Economy by 2047: What Will it Take’ at George Washington University. He emphasized the urgent need to enhance human capital and skill sets within India. He expressed concern over India’s failure to fully capitalize on its demographic dividend, pointing out that the country’s current growth rate of around 6 percent falls short of the potential witnessed during demographic booms in China and Korea. 

Rajan cautioned against complacency, urging a critical examination of India’s job market and the factors compelling young innovators to seek opportunities abroad. His remarks underscored the imperative for India to address systemic challenges and create an environment conducive to retaining and nurturing its talented youth, thereby harnessing their potential for driving economic growth and innovation domestically.