An Indian founder who was previously based in Singapore and returned to India before moving to Dubai has recently ignited a debate on X after expressing profound regret over his decision to return to India and advising others to consider relocating to Dubai or Singapore.
Akshat Shrivastava, the founder of investment community Wisdom Hatch, has defended his stance and highlighted what he perceives as growing "hate, bigotry and absolute stupidity" in India, alongside challenging economic conditions.
Shrivastava began his reflection by admitting he "used to laugh when people said: 'The ultimate goal of an Indian is to leave India'." He recounted his own journey, where he chose to leave Singapore and return to India "to build a life here," describing himself as a "stupid patriotic person."
"At one point in time: I decided to leave Singapore. And, come back to India. To build a life here. I was a stupid patriotic person. Then I saw that day-by-day: dumb people defending high tax, stupid economic moves, jobless growth, crony business. They were cheering for own demise," Shrivastava wrote on X. "So I decided to move out.
And, I am very happy with my decision."
Despite his strong critique, he affirmed his deep connection to his homeland: "India was and will always be my motherland. I love it. And, always will." Yet, he stressed the impracticality of remaining amid what he views as societal decay. "But, I see no point -- subjecting my kids to hate, bigotry, and absolute stupidity that exists today. The world is big enough for hard-working people who wish to compete on merit."
His advice to fellow Indians is direct: "Folks: just move to Dubai or Singapore. No one expects you to learn the local language." He emphasised the safety and convenience in these nations, stating, "you would NOT be thrashed by goons if you don't. Just follow the law. Be a good resident. Add to their economy. And, get good facilities in return. Better future for your kids. And, good career opportunities. Live and let live."
These comments were made in response to a post by a professor and X influencer Gaurav Sabnis (@gauravsabnis) who urged professionals to try and learn the regional language in case they moved cities for work.
Shrivastava also delved into the financial motivations behind the increasing trend of wealthy Indians moving their assets abroad, citing a "very specific strategy." He explained that while operational income from Indian businesses is taxed locally (often at lower corporate rates than personal income), investment income and dividend income face "crazy taxes" in India. This, he argued, leads to rich individuals establishing "family investment offices" abroad to optimise their wealth.
"While people bash me for writing such posts in the name of 'nationalism'. The rich quietly learn such points. And, move ahead in their life," he said.
Finally, Shrivastava touched upon the fundamental value of human life and peace of mind. He questioned the purpose of accumulating wealth in a country where basic safety and quality of life are compromised. "When you/your family walk on a road and can be bitten by dogs. Or mauled by a 16-year-old Ferrari driver. What would you do with your wealth?" he asked, concluding, "In India, unfortunately today-- the value of a human life is close to 0. If you are rich, you are not doing anything wrong by leaving. Life in incredibly short. You are simply using your money to buy peace of mind."
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