Indian human capital is going to drive the global economy: Palanivel Thiaga Rajan
The Hindu
Minister Thiaga Rajan highlights Indian human capital's role in global economy at industry summits in Chennai.
Minister for Information Technology and Digital Services Palanivel Thiaga Rajan on Wednesday said Indian human capital will play a significant role in driving the global economy.
“For the next 20 years, 1 in 4 people in the working age population of the world is going to be Indian, even though in terms of population only about 1 in 6 in the world is Indian today,” he said at the inaugural session of the Associated Chambers of Commerce & Industry of India- Southern Region’s (ASSOCHAM) Future of Work Summit 2025 in Chennai.
“We have already seen these outcomes, in the sense that about 11% of the Fortune 500 companies are led by Indians as Chairman, Chief Executive Officer and Managing Director. That number is only going to get higher,” Mr. Thiaga Rajan said.
India would benefit from the trend and Tamil Nadu, with the great luxury of centuries of education and probably 30-40 years of great expansion, might benefit more, he added.
“With the socio-political strife and a lot of xenophobia arising in a lot of places, I think we will have a dichotomous world,” Mr. Thiaga Rajan pointed out. Places like Canada, Australia, Singapore and Scandinavian countries with declining population and improving economic situation would encourage migration of skilled talent, he added.
In places like the U.S., at least in the short term, and the U.K. there would be backlash against immigrants, Mr. Thiaga Rajan said. This would lead to a lot of work moving offshore. India and Tamil Nadu would benefit from this, he said.
“Lot of work will happen remotely with better internet connectivity. Cities are already well connected through optical fibre network. Under the ambitious Tamil Nadu FibreNet (TANFINET) project, we are planning to connect 12,650 villages with support from the Union government’s BharatNet project. The work will migrate to wherever there is talent,” Mr. Thiaga Rajan said.
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