Indian Foreign Minister Subrahmanyam Jaishankar has rejected US President Joe Biden’s assertion that “xenophobia” is hindering India’s economic growth. During a roundtable discussion hosted by The Economic Times, Jaishankar emphasized that India’s economy is not faltering and highlighted the country’s longstanding tradition of openness as a society. He cited the Citizenship Amendment Act as an example of India welcoming immigrants fleeing persecution in neighboring countries and becoming citizens.
Biden’s remarks about xenophobia in China, Japan, and India impeding economic progress were met with criticism from both India and Japan. Jaishankar echoed the sentiment that migration has been beneficial to the US economy. In contrast, Japan called Biden’s characterization of its policies as “unfortunate” and clarified its stance to the White House.
Recent projections by the International Monetary Fund (IMF) show a slowdown in growth for Asia’s largest economies, including India, in 2024 compared to the previous year. However, the US economy is expected to grow at a brisker pace, attributed in part to migrants contributing to labor force expansion. The positive outlook for the US economy contrasts with the IMF’s projections for Asia, emphasizing the role of migration in driving economic growth.
