Indian Economy: News and Discussion

[afako]

Most expensive house buys in India in 2022:

Juhu has 3 entries in Top 5.

 

[afako]

 

[kharabela]

IndAus ECTA entered in to force

 

[afako]

Anant Ambani being welcomed in Mumbai after his Roka ceremony:

 

[Shuturmurg]

But damage to India’s reputation as world‘s pharmacy is under threat. I wonder if these are being pushed up by Chinese controlled WHO and the pharmaceutical companies that don’t want to see India developing into a pharma powerhouse. Two incidents in succession with the same causes of death. Why now? Is this the first time these children have been given cough syrup from Indian companies? Has the Wuhan virus created additional co-morbiditie? The Indian pharmaceutical industry must research this well and publish findings. Or risk the trust of people in developed nations buying India made generics.

Damage will be worse if proper investigation and regulations are not done. Some of our bigger pharma companies have regular inspection by FDA since they sell in US market. We should also try and setup high quality regulatory agency.

 

[Shuturmurg]

Just found an article from 2007 about india's semiconductor loss :

India Snoozed, Lost Intel Chip Plant

The U.S. chip maker's chairman says the government's delay in formulating a semiconductor policy cost it.

www.forbes.com

 

[Concard]

Just found an article from 2007 about india's semiconductor loss :

India Snoozed, Lost Intel Chip Plant

The U.S. chip maker's chairman says the government's delay in formulating a semiconductor policy cost it.

www.forbes.com

Now you know for all it's faults BJP is a better bet for India in the long term. I don't like many things in BJP and Modi but I don't see anyone in any party has ever articulated any vision to India other freebies and secularist BS. Congress and many regional parties along with Lefitst scums are cancer to India. They need to be wiped out of Indian political landscape.

 

[ezsasa]

Just found an article from 2007 about india's semiconductor loss :

India Snoozed, Lost Intel Chip Plant

The U.S. chip maker's chairman says the government's delay in formulating a semiconductor policy cost it.

www.forbes.com

even if GoI had a policy at that time, it still wouldn't have happened because global financial meltdown happened after that.

company i was working for at that time wouldn't touch projects below a few crores, and we were competing in the market for projects worth 25 lakhs after the meltdown, investments and spending had literally dried up.

 

[FalconSlayers]

Overdose, another hit job on our Pharma industry.

 

[sauntheninja]

 

[jai jaganath]

Weren't we low middle income economy earlier

 

[FalconSlayers]

World Bank is the Internet Explorer of statistics, their data always remains unreliable and funny. But who cares as long as they are "quotable".

World Bank themselves

Yeah, "Today'...
More like a poverty porn hitjob

 

[blackleaf]

Ultimately boils down to quality of education. Indians are the dumbest group of people in the planet in terms of education quality. Cant expect anything to emerge when the quality of education in STEM is so bad.

Education system leading India down the hole

The Switzerland-based Institute of Management Development (IMD) makes a World Competitiveness Ranking of major economies.

www.thehansindia.com

You don't need good education for some low value manufacturing. Bangladesh has built a very successful textile manufacturing sector with education that is not any better than India. India needs millions of low value manufacturing jobs in things like textile.

 

[RoaringTigerHiddenDragon]

You don't need good education for some low value manufacturing. Bangladesh has built a very successful textile manufacturing sector with education that is not any better than India. India needs millions of low value manufacturing jobs in things like textile.

What you need is skill development and entrepreneurship. Instead of hawking on the streets and driving rickshaws, people should be able to start small companies and manufacture/provide services plus jobs to a few. India still has a lot of small service companies missing like landscaping, car washing, running parking lots, used car dealers, managed rentals, security services, perfume development, medical labs, juice centers, ice cream shops, high end retail, and so many more…I see so many people just trying to drive rickshaws and selling street food. While good quality, hygienic street food does get you a decent income, the majority are just selling street food to poorer people which won’t get them much income.
As ease of doing business improves and knowledge of making money spreads, we can be sure that people will find their own ways to UMI status. Government cannot do everything-only set policies and provide cheap financing, infra to do business/make stuff.
For example, West Champaran district in Bihar did some good work.

Similarly UP’s ODOP is doing well.

of course legacy states like Punjab and Bengal are stuck in lower mid income status due to bad policies, anti-industry posture, and zero capital expenditure by broke governments. Kerala PCI growth is purely from remittances which will end soon as the gulf finds other cheaper labor source for their day to day work jobs. TN’s new social justice business model might make them go the Punjab way. So, there are significant risks due to bad policy making. Ours is a country where multiple economic policies exist within the same country - unheard of in the US, China or other advanced nations. Businesses like simple, uniform laws and a unified market across the country. We do not have them.

 

[Blademaster]

India needs to wean itself off from the IMF and World Bank tits and rely on its own banking system for further development of India's economy and infrastructure just like China did.

 

[Hari Sud]

India needs to wean itself off from the IMF and World Bank tits and rely on its own banking system for further development of India's economy and infrastructure just like China did.

‘Can you recall when did India went to IMF last. Long time back during Congress socialism.……. Yes, india takes loans from World Bank as a discounted commercial lender.

 

[Blademaster]

‘Can you recall when did India went to IMF last. Long time back during Congress socialism.……. Yes, india takes loans from World Bank as a discounted commercial lender.

Sorry I meant international lenders such as Asian Development Bank (ADB), International Development Association (IDA), the International Bank for Reconstruction and Development (IBRD), the International Fund for Agricultural Development, and others.

All loans should be in Indian rupees, not in dollars or other denomination.

 

[Shuturmurg]

What you need is skill development and entrepreneurship. Instead of hawking on the streets and driving rickshaws, people should be able to start small companies and manufacture/provide services plus jobs to a few. India still has a lot of small service companies missing like landscaping, car washing, running parking lots, used car dealers, managed rentals, security services, perfume development, medical labs, juice centers, ice cream shops, high end retail, and so many more…I see so many people just trying to drive rickshaws and selling street food. While good quality, hygienic street food does get you a decent income, the majority are just selling street food to poorer people which won’t get them much income.
As ease of doing business improves and knowledge of making money spreads, we can be sure that people will find their own ways to UMI status. Government cannot do everything-only set policies and provide cheap financing, infra to do business/make stuff.
For example, West Champaran district in Bihar did some good work.

Similarly UP’s ODOP is doing well.

of course legacy states like Punjab and Bengal are stuck in lower mid income status due to bad policies, anti-industry posture, and zero capital expenditure by broke governments. Kerala PCI growth is purely from remittances which will end soon as the gulf finds other cheaper labor source for their day to day work jobs. TN’s new social justice business model might make them go the Punjab way. So, there are significant risks due to bad policy making. Ours is a country where multiple economic policies exist within the same country - unheard of in the US, China or other advanced nations. Businesses like simple, uniform laws and a unified market across the country. We do not have them.

TN's model has been there since forever. They are richer than Punjab and still growing faster. They will be fine till they keep expenditure on freebies manageable, that's what they have done till now.

 

[Hari Sud]

TN's model has been there since forever. They are richer than Punjab and still growing faster. They will be fine till they keep expenditure on freebies manageable, that's what they have done till now.

Slowdown in your advice of skill development etc. As the economy grows, all kinds of skills not taught in schools come automatically to the people. Schools only teach the basics, the economy teaches the rest.

As for your analysis of Punjab and West Bengal ….. people get government what they elect. Truthfully both these governments consist of slogan shouting inexperienced politicians, who like power more than people’s welfare. Those are some of reasons they are missing the economic bus. One leader has irritated the business community and the other does not know which way to go as he has learnt nothing other than being a comedian in the movies.

Sorry for being blunt.

 

[thebakofbakchod]

Footwear behemoth Pou Chen to enter TN; to invest Rs 500 crore

The investment by the Taichung City-based firm, which caters to Adidas and 15 other global brands, is likely to generate a large number of employment opportunities, an industry source told DT Next.

www.dtnext.in

Crazy how one of the most industrialised state is the one bagging all the footwear investments despite higher salaries. This is the 3rd taiwan company this year who approved such investment. Meanwhile in BIMARU states...