Drain of wealth 2.0: Return of ‘Lagaan’ and India’s need for another Swaraj

An Indian company that writes brilliant software for a foreign platform gets paid well for the work. It almost never owns a slice of what that platform eventually becomes worth. This is the exact distinction Naoroji’s arithmetic always hinged on, not whether India earns money, but what kind of money it earns, and what kind slips past it entirely.