Sridhar Vembu, co-founder and chief scientist of Zoho Corporation, has backed a “Swadeshi” approach to economic policy, saying India should adopt principles similar to those being advocated by the United States to strengthen domestic industrial capacity and economic sovereignty.
Bessent’s remarks reflect ‘Swadeshi’ thinking
In a post on X, Vembu referred to a recent speech by US Treasury Secretary Scott Bessent, saying it reflected what “we in India would call their own ‘Swadeshi economic policy’.”
Quoting Bessent, Vembu highlighted the first principle outlined in the speech: “The first is that economic security begins with national capacity… The nation that depends on its adversaries for critical inputs is not truly sovereign. And the nation that reduces its economics to consumption is not truly prosperous.”
India should follow the same principles
Calling the remarks “powerful words”, Vembu said India should resolutely embrace the same economic philosophy.
“Powerful words. I agree with him and India must resolutely apply the same principles. East Asian nations are all strongly Swadeshi too,” he wrote.
His comments come at a time when several major economies are prioritising resilient supply chains, domestic manufacturing and strategic self-reliance to reduce dependence on overseas suppliers.
Reiterates association with Swadeshi Jagran Manch
Vembu also reiterated his long-standing association with the Swadeshi Jagran Manch (SJM), saying the organisation has consistently advocated similar economic principles for more than three decades.
“I am proud to be closely associated with the Swadeshi Jagran Manch, and SJM has long advocated similar principles, for over 3 decades now,” he said.
The Zoho co-founder has been a vocal advocate of building indigenous technological capabilities, strengthening manufacturing and promoting long-term economic self-reliance. His latest remarks add to the ongoing debate around India’s industrial strategy and the need to enhance national capacity in critical sectors.