1) It may be depressing wages in the US, but tech wages in India are skyrocketing. The best are leaving for better lives in the US and local companies are realizing they need to compete globally for talent.
2) Capitalism concentrates wealth in general but I don't think it's black and white that it's bad. 60% of India's population is small farmers and there's a lot of protection against scale farming with land ceiling laws, subsidies, etc. I don't think we're doing them any great favour by protecting them. The US by contrast has only 3% of it's population employed in agriculture. I'm sure there was a lot of pain in going from 60% to 3% there as well, but it's probably a better outcome even weighing the concentration of wealth that resulted. It isn't perfect, but it's sort of the best available system. And treating labour different to goods makes no sense. By the same argument, importing cheap Chinese manufactured goods are bad. Any automation that removes jobs is bad. Any consolidation for economies of scale is bad.
2) Capitalism concentrates wealth in general but I don't think it's black and white that it's bad. 60% of India's population is small farmers and there's a lot of protection against scale farming with land ceiling laws, subsidies, etc. I don't think we're doing them any great favour by protecting them. The US by contrast has only 3% of it's population employed in agriculture. I'm sure there was a lot of pain in going from 60% to 3% there as well, but it's probably a better outcome even weighing the concentration of wealth that resulted. It isn't perfect, but it's sort of the best available system. And treating labour different to goods makes no sense. By the same argument, importing cheap Chinese manufactured goods are bad. Any automation that removes jobs is bad. Any consolidation for economies of scale is bad.