Zoho Corporation CEO Sridhar Vembu has dismissed concerns over the rising migration of Indian talent abroad, asserting that it reflects a period of rapid development rather than a sign of despair. His remarks came after RSS leader Ratan Sharada highlighted an article, that said wealthy Indians were leaving the country -- a sentiment echoed by former Infosys CFO Mohandas Pai, who attributed the trend to “tax terrorism, regulatory overreach, and poor quality of life in cities.”
Pai noted that over the past decade, 55,000 high-net-worth individuals (HNIs) have left India. However, Vembu provided a contrasting perspective, drawing parallels with historical trends in other nations such as Korea and Japan.
"I am not alarmed about the rising talent migration from India. Here is why," Vembu stated in a detailed post. "Talent migration from Korea and Taiwan to the US peaked in the 1970s and 80s (Japanese migration to the US peaked much earlier). Talent migration from China peaked about 10 years ago. That was the time of rapid development and transformation of those nations."
Vembu explained that talent migration is typically low when a country is either extremely underdeveloped or very wealthy. It peaks, he said, during periods of rapid economic growth due to rising aspirations. "This is observable in Silicon Valley where migrants from India now well outpace those from China, Hong Kong, and Taiwan," he noted.
"Rapid economic development is preceded by and happens due to rising aspiration levels, and talent migration also happens due to rising aspiration levels. Our aspirations necessarily race ahead of reality, and it is precisely during the period of rapid growth that we have the most restless people, and it is the restless spirits who tend to migrate."
Highlighting urban tech hubs in India as hotspots of this restlessness, Vembu expressed optimism that talent migration will slow as the country achieves its full economic potential. "Eventually, when the full economic potential is realised, talent migration slows down or stops entirely. This pattern has been seen repeatedly," he said.
Drawing historical parallels, Vembu added, "As late as the 1980s, Japanese still refused to believe Japan had achieved parity with the West. Same with Korea in the late 1990s. I predict that even in 2035, with a per capita GDP upwards of $10K, Indians will likely lament how far behind we are."
He acknowledged that while the final stages of economic catch-up often occur swiftly—citing China's recent decade of rapid growth—the groundwork is laid over decades of effort. "We are slogging through that now in India," Vembu remarked.
In conclusion, Vembu framed rising talent migration as a positive indicator of India’s development trajectory. "To summarise, rising talent migration from India is not a symptom of hopelessness, it is the opposite," he said.