In response to US President Joe Biden’s assertion that “xenophobia” was hindering economic growth in India, Indian Foreign Minister Subrahmanyam Jaishankar disputed the claim, stating that India’s economy was not struggling and had a history of being 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, providing a safe haven for refugees.
The CAA allows immigrants fleeing persecution in neighboring countries to become Indian citizens, showcasing India’s willingness to support those seeking refuge. Despite this, Japan expressed disappointment with Biden’s characterization of xenophobia stunting growth in China, Japan, and India. 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. The complex interplay between immigration policies and economic growth on a global scale highlights the importance of considering multiple factors when assessing the impact of immigration on economic development.
In conclusion, while there may be concerns about xenophobia hindering economic growth in certain countries, it is important to consider other factors such as immigration policies and their impact on labor forces when evaluating their effects on overall economic development.