'Kerala could be as rich as Taiwan if only...': Zoho CEO Sridhar Vembu to former minister

Sridhar Vembu, CEO of Zoho Corporation, has expressed his belief that Kerala has the potential to achieve economic prosperity comparable to that of Taiwan. His comments were made in response to a tweet by Thomas Isaac, a member of the Central Committee of Communist Party of India, who highlighted the recent electoral success of the Student Federation of India (SFI) in college union elections across the state.

“I say all this as a person who loves Kerala. Kerala could be as rich as Taiwan,” Vembu remarked on X, raising concerns about the significant outflow of talented youth from the state. He pointed out that many graduates are leaving Kerala to pursue job opportunities in other states or abroad after completing their education.

The Need for Local Job Creation

Vembu stressed the importance of creating job opportunities within Kerala, noting that many entrepreneurs born in the state are establishing their businesses outside instead of contributing to local economic growth. “Large numbers of talented youth are leaving Kerala for jobs in other states or even abroad,” he stated, emphasizing the need for a supportive environment for both employment and entrepreneurship.

Learning from East Asia

He also referenced the historical context of economic development in East Asia, urging Isaac to examine the strategies of influential leaders like Deng Xiaoping of China and Lee Kuan Yew of Singapore. “Comrade Isaac should also study paramount leader Deng Xiaoping and why Deng had Lee Kuan Yew as a key advisor,” Vembu suggested. His deep understanding of these leaders' approaches could provide valuable lessons for Kerala in enhancing local opportunities.

Vembu is known for engaging in discussions surrounding economic policy and technology in India. Recently, he responded to criticism from Mohandas Pai, a former Infosys board member, about the selection of locations for the Indian government’s AI Centres of Excellence (CoE). Vembu defended the decision, clarifying that it was based solely on merit and not influenced by political considerations. He emphasized that top institutions from the southern region had submitted strong proposals, yet the final selections were made after a thorough evaluation process.

Vembu's insights spotlight a critical conversation about Kerala's economic potential and the need for policies that foster talent retention and entrepreneurship. Vembu's remarks encourage a focus on addressing the factors that lead young talent to seek opportunities outside the state, aspiring for a more vibrant and economically robust Kerala.