‘Not seeing enough churn in our business elite’: Sanjeev Sanyal on why millionaires are leaving India

Sanjeev Sanyal, a prominent economic advisor, recently offered a compelling perspective on a pressing issue: the emigration of millionaires from India. His key insight points to a lack of dynamism within the nation’s established business circles.

Sanyal stressed that legacy businesses often become stagnant if new talent and ideas are not allowed to emerge. This resistance to change and the limited entry for fresh perspectives can create a bottleneck, not just for individual companies, but for the broader economic growth of the country.

His remarks highlight a critical need for an ecosystem that encourages innovation and allows for a healthy ‘churn’ at the top. When established players remain unchallenged and new entrants struggle to gain traction, the most ambitious and entrepreneurial minds may look for opportunities elsewhere, leading to the very ‘brain drain’ we are observing.

Fostering an environment where new ideas can thrive, and where the business elite is regularly refreshed with diverse talent, is crucial for India to retain its wealth creators and sustain its long-term economic prosperity.

Source: Original Article