Jaishankar Hits Back at Biden: India’s Economy Not Hindered by Xenophobia, Emphasizes Long-Standing Openness as a Society”.
Indian Foreign Minister Subrahmanyam Jaishankar refuted US President Joe Biden’s assertion that “xenophobia” was hindering India’s economic growth, as reported by The Economic Times. During a roundtable discussion hosted by the newspaper, Jaishankar emphasized that India’s economy is not in decline and highlighted the country’s long-standing openness as a society. He pointed to the Citizenship Amendment Act as an example of India welcoming immigrants from neighboring countries seeking refuge from persecution and becoming citizens.
Biden’s comments about xenophobia in China, Japan, and India negatively impacting economic progress were met with criticism from both India and Japan. Japan characterized Biden’s characterization of its policies as “unfortunate” and clarified its stance to the White House. Meanwhile, the International Monetary Fund (IMF) projected a slowdown in growth for Asia’s largest economies, including India, in 2024 compared to the previous year. In contrast, the US economy is expected to grow at a faster pace due in part to migrants contributing to labor force expansion. The positive outlook for the US economy contrasts with the IMF’s projections for Asia, highlighting migration as a key driver of economic growth.
