India's 7.8% growth, yet no foreign trips, no gold: Sridhar Vembu explains Modi’s message
- On Tuesday, Indian Prime Minister Narendra Modi urged citizens to curtail foreign travel, destination weddings, and gold purchases while touting India's 7.8% economic growth.
- Zoho founder Sridhar Vembu explained the appeal, arguing India must conserve foreign exchange to fund rapid expansion despite relying on imported technology and energy inputs.
- Vembu compared India's situation to East Asian economies like Japan and China, which conserved capital during rapid growth; India's forex kitty hit a record $729 billion.
- Critics questioned Modi for making these pleas while traveling abroad, as authorities warn that surging gold demand during the festive season could strain the rupee and increase trade deficits.
- Modi stated these measures aim to secure a 'viksit Bharat' for the nation's youth, expressing confidence the economy will strengthen by the time India marks 100 years of independence.
13 Articles
13 Articles
'7.8% growth but still import-dependent': Sridhar Vembu explains Modi’s Swadeshi push
The RBI revised its FY27 GDP growth forecast to 6.7%. PM Modi emphasized India's 7.8% real GDP growth in Q1 FY27, urging local consumption and avoiding non-essential spending, noting the importance of conserving foreign exchange for continued growth.
Sridhar Vembu backs Modi, explains why Indians shouldn’t take foreign trips or buy gold
The Zoho co-founder weighed in on a question circulating on X after Prime Minister Narendra Modi urged Indians to avoid unnecessary foreign travel, weddings abroad and buying gold unless necessary, even as India posted 7.8 per cent GDP growth.
All-In-All Azhagu Raja Sumanth Raman Gets Schooled By Sridhar Vembu
Zoho founder Sridhar Vembu has responded to self-styled all-in-all expert political commentator Sumanth Raman’s question on why Prime Minister Narendra Modi is urging Indians to reduce spending on foreign travel, gold and overseas weddings despite India recording 7.8% economic growth. Raman had questioned what he assumed was a disconnect between strong GDP growth and the […] The post All-In-All Azhagu Raja Sumanth Raman Gets Schooled By Sridhar …
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