The 3-year-old son of the man who heads the Indian operations of
has been kidnapped and is being held for ransom.
The shocking crime has riveted the attention of Silicon Valley's large Indian community and is raising concerns that increasing lawlessness on the sub-continent could become a threat to foreign investment.
Anant Gupta, son of Adobe Senior Vice President Naresh Gupta, was abducted Monday near his home in an affluent suburb of Delhi by two youths riding a motorcycle, according to reports in the Indian press. The kidnappers have reportedly asked for a ransom of 10 million rupees, or about $221,000.
A spokeswoman for Adobe said the company would not comment on the crime, other than to express its deep concern for the Gupta family.
The kidnapping, says Trip Chowdhry, managing director of Global Equities Research, exposes the deep, social divides of India. "The safety of citizens has taken a backseat to fiscal policy and the development of infrastructure. The government has to take a very hard position on this, or it could certainly affect the investment climate."
Kidnapping for ransom has become fairly common in the last three years, and reflects the desperation of an impoverished population that has witnessed the rise of a newly affluent upper class, says Chowdhry, a native of India, who follows a number of India-based IT services companies.