- Sharma says 1991 reforms brought easy money and tech, making Indian firms lazy.
- He claims Indian businesses leaned on foreign deals instead of building their own tech.
- No Indian company dominates even South Asia, let alone the world, Sharma argues.
In a podcast with Rishi Sanghvii, Sharma, a business thinker, slammed India’s 1991 liberalization for making companies too comfortable. He said the flood of foreign capital and technology after the reforms gave Indian firms an “easy way out.” Instead of creating their own innovations, they teamed up with global partners, got the cash and tech, and called it a day. “That’s what Indian companies have done till now,” he said, pointing to a lazy streak that still lingers.
Sharma looked back at the past 30-plus years and argued that opening up to the world hurt India in one big way. “We never had to build our own tech because it all came with the money from outside,” he explained. He believes this reliance stopped Indian businesses from stepping up and competing on their own terms. The result? A lack of homegrown giants ready to take on the global stage.
He didn’t hold back on the consequences, saying India hasn’t produced even one company that rules South Asia, let alone Asia, Europe, or America. “Not one company,” he stressed, painting a tough picture of where Indian business stands today. Sharma’s take is a wake-up call—suggesting that leaning on foreign help might have cost India the chance to create world-class leaders of its own.
