India’s liberalization in 1991 could have unlocked development, but it surely additionally set the nation on a path of dependency, at the very least within the view of veteran investor and GQuant Investech founder Shankar Sharma.
Talking on a podcast with Rishi Sanghvii, Sharma stated the very capital and know-how that flooded in post-reform left Indian companies “lazy,” reliant on international partnerships, and unmotivated to construct world tech dominance.
“It gave Indian companies a really lazy and an easy manner out,” he stated. “Simply do joint ventures, get the capital, get the tech… and life is sorted. That’s precisely what our Indian firms have completed—until date.”
Reflecting on the a long time since 1991, Sharma stated, “The one unhealthy factor that 1991’s liberalization did for India was that it opened up… floodgates to world capital to come back inside. And with the capital got here the know-how, so we had been by no means required to kind our personal.”
Sharma pointed to a persistent consequence of that mindset: “We do not even have even one firm which is dominating even South Asia, not to mention Asia, not to mention Europe, and neglect about America… not one firm.”
He blamed this on Indian corporations dashing into international joint ventures, handing over market entry in change for capital and tech—with out constructing authentic energy. “In the end what bought created? Nothing.”
He was equally crucial of the federal government’s coverage towards Elon Musk’s ventures. “What’s so nice about Starlink? It is low-end, low-tech… there’s nothing nice.” Sharma questioned why India was giving Musk a “free cross,” whereas home corporations needed to navigate heavy license charges and rules.
“If I had been a policymaker, I’d not permit this stuff,” he stated.
