Indian Foreign Minister Subrahmanyam Jaishankar recently refuted US President Joe Biden’s assertion that xenophobia was impeding economic growth in India. Speaking at a round table event, Jaishankar emphasized that India’s economy was not failing and historically has been a society that is welcoming and open-minded.
Jaishankar pointed to India’s Citizenship Amendment Act (CAA) as evidence of the country’s commitment to helping those in need. The CAA allows immigrants fleeing persecution in neighboring countries to become Indian citizens, showcasing India’s willingness to provide a safe haven for those seeking refuge.
Biden’s comments about xenophobia stunting growth in China, Japan, and India did not sit well with authorities in those countries. Japan, in particular, expressed disappointment in Biden’s characterization, calling it “unfortunate” and incorrect. Tokyo emphasized that the comments were not based on a true understanding of Japan’s policies and stance on immigration.
The International Monetary Fund (IMF) has predicted that growth in Asia’s largest economies will slow in 2024 compared to the previous year. However, the US economy is expected to grow slightly faster at 2.7%, with economists attributing some of this growth to the contributions made by migrants to the country’s labor force. Biden’s remarks and the reactions from Asian countries highlight the complex interplay between immigration policies and economic growth on a global scale.
Despite these concerns, many experts argue that immigration can actually have a positive impact on economic growth when implemented effectively. For example, research has shown that immigrant workers tend to be more productive than native-born workers due to their drive and desire for success.
In conclusion, while there may be some challenges associated with immigration policies on an international level, it is important for policymakers to consider both short-term consequences and long-term benefits before making decisions that affect entire economies.