Indian liberalization in 1991 could unlock growth, but the country also stood on the path of addiction, at least from the perspective of a veteran investor and founder Gquant Investtech Shankar Shama.
Sharma, when he spoke on a podcast with Rishi Sanghvii, said that the capital and technologies that flooded in the post-refund had left Indian businesses “lazy”, depending on foreign partnerships and not motivated to build global technological dominance.
“Indian businesses gave it a very lazy and very easy way to get out,” he said. “Just make common businesses, get capital, get technology … and life is sorted. That's exactly what our Indian companies have done – date.”
Sharma, he thought about decades since 1991, said, “The only bad thing she did for India's liberalization was that it opened up … floods into global capital to enter.
Sharma pointed out the persistent outcome of this thinking: “We don't have any society that dominates even South Asia, let alone Asia, let alone Europe, and forget America… not one society.”
https://www.youtube.com/watch?v=xlbnb2moiy8
He blamed this of Indian companies that plunged into foreign joint ventures and passed access to the market in exchange for capital and technology – without building the original strength. “Finally, what was created? Nothing.”
Equally critical of government policy towards Elon Musk. “What is so great on Starlink? It's a low-end, low-tech … there's nothing big.” Sharma asked why India gave Muska a “free pass”, while domestic companies had to navigate heavy license fees and regulations.
“If I were the creator of politics, I wouldn't allow these things,” he said.
