'We don't have oil': Finfluencer warns that India can't become rich by turning huge youth population into reel-making freeloaders
Raghuram Rajan, former Reserve Bank of India governor, have raised concerns about the country’s strategy for economic growth, emphasising the urgent need for investment in education and human capital development.
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Shrivastava’s critique of current policies
Akshat Shrivastava, a prominent entrepreneur and educator, recently took to social media to express his apprehensions about India’s economic trajectory. Highlighting the potential of India’s young population, he warned that failing to provide quality education and proper guidance could undermine the country’s ambitions.
«We don't have oil, so we can't become rich. We don't have an autocratic government, so we can't become rich like China. Fact: every country has something valuable. We have a huge young population. If you keep them ill-educated and turn them into reel-making freeloaders, of course, we will never become rich,» Shrivastava wrote.
His comments draw attention to India’s lagging performance in key economic indicators compared to China. In 1980, India’s per capita GDP was nearly double that of China. Today, China’s per capita GDP stands at $25,015, more than twice India’s $10,123. Similarly, while China’s exports are valued at $3.5 trillion, India’s exports are significantly lower at $0.78 trillion.
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