Indian Economy: News and Discussion

[ezsasa]

for those who assume policy making and implementation is easy...
looks like talking points on economy by lutyens media in 2018 were coming from urjit patel.

by the way the author of the book is the one lutyens news channels call when they are desperate to get some points to criticise modi govt on economic policies.
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When PM compared Urjit Patel to a snake

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www.financialexpress.com

 

[FalconSlayers]

Apple to increase production in India by 5 times to $40 billion over the next 5 years.

 

[nongaddarliberal]

We are working in all these areas. Sure we will get these technology in coming years.

Coming back to this comment during the Canada accusations episode, we don't have the time to go as slow as we're going now. Especially now that we've found out that this was orchestrated by the US itself from the beginning.

We need to get R&D spending to 3% of GDP, with massive incentives for private industries to actually create ways to indigenize this technology. And we need to acquire existing foreign tech by hook or by crook. I don't see the India-US relationship relationship lasting too much longer, whether than be 5 years or 15. They as a country have proven that they are willing to give up on their economic and geopolitical interests in order to pursue their agenda of turning India into a fragmented failed state.

 

[FalconSlayers]

The government is going to “severely restrict” imports of parts worth billions of dollars from China for IT hardware as part of ‘trust sources’ norms, according to a Times of India report quoting sources. It added that the Centre eyes a significant surge in local sourcing of components for laptops and servers at around $20 billion in the next 4 years against $1 billion now.

Make In India Push: Govt Targets To Raise Local Sourcing of IT Parts To $20 Billion - News18

The government is not happy with the heavy dependence on China, and does not find the current ecosystem of component sourcing healthy, says an official

www.news18.com

 

[fooLIam]

I heard about that. Any news on whether CRRC is going to follow the terms of the tender to setup the factory in India?

The Chinese are very loathe to give up any manufacturing and will always try their hardest to keep as much as possible in China. Even the car factories that companies like BYD or MG are proposing are basically knockdown assembly plants to avoid tariffs while most of the components will be Chinese.

At least with European companies like Alston, they are much more willing to move manufacturing to India because of lower labour cost and less focus on manufacturing back home. Even the South Koreans and Japanese much more willing to move manufacturing to India as they no longer rely on lower end manufacturing back home. The Chinese still try to keep as much manufacturing in China for any deal.

India must focus on creating own national champions .make foreign companies do partnership with local companies.

I was searching for Indian made tyre inflator and pressure washer on Amazon but most of it were from china . Even cigarette lighter largely comes from china and few years back in Scamgress times even basic things like nail cutter and comb(still comes from china and Korea but there desi alternatives also) were abundant in Indian market. What gives , dalla mentality .
I mean these things are not complicated at all.

 

[FalconSlayers]

What exactly can be done regarding this? We're stuck at this 'upper-middle" level for long. Not much has been done in past 10 years on this front, Vietnam and Indonesia have already crossed 0.7 (High) and we are currently far from it. We lag behind in mean years of schooling and income per capita PPP.

 

[nongaddarliberal]

What exactly can be done regarding this? We're stuck at this 'upper-middle" level for long. Not much has been done in past 10 years on this front, Vietnam and Indonesia have already crossed 0.7 (High) and we are currently far from it. We lag behind in mean years of schooling and income per capita PPP.
View attachment 223724

The other countries don't have places like Bihar, Rajasthan, Chattisgarh and Jharkhand massively pulling down the average.

 

[angryIndian]

What exactly can be done regarding this? We're stuck at this 'upper-middle" level for long. Not much has been done in past 10 years on this front, Vietnam and Indonesia have already crossed 0.7 (High) and we are currently far from it. We lag behind in mean years of schooling and income per capita PPP.

When you shine only South and west India and only the IT industry,this is what you get.

India outside the 5 southern and 2 western and a few pockets of north is very close to Congo,Rawanda and Uganda with very low levels of industrialization and extremely horrible Human development indicators.

 

[nongaddarliberal]

When you shine only South and west India and only the IT industry,this is what you get.

India outside the 5 southern and 2 western and a few pockets of north is very close to Congo,Rawanda and Uganda with very low levels of industrialization and extremely horrible Human development indicators.

In terms of productivity, scratch out the highly literate Southern state.

 

[FalconSlayers]

Most of this is truth, and there's little one can do about India in current situation.

 

[FalconSlayers]

BASED

 

[nongaddarliberal]

Most of this is truth, and there's little one can do about India in current situation.

Westerners are intentionally bi-polar regarding India. They swing from "India has no future, it'll collapse" to "India is the future economic superpower, it'll overtake China", even though India itself has claimed no such thing, and we simply maintain that we will have good growth and a large economy.

The effect is they create a straw man positive prediction for India, which they then disprove by saying "No, we were wrong about India's growth", creating a straw man negative argument against India.

They will not be able to constantly make these nagative videos of India's future if they acknowledged that India's goal is to simply grow its economy and improve its peoples lives, while acquiring critical technology.

 

[FalconSlayers]

Westerners are intentionally bi-polar regarding India. They swing from "India has no future, it'll collapse" to "India is the future economic superpower, it'll overtake China", even though India itself has claimed no such thing, and we simply maintain that we will have good growth and a large economy.

The effect is they create a straw man positive prediction for India, which they then disprove by saying "No, we were wrong about India's growth", creating a straw man negative argument against India.

They will not be able to constantly make these nagative videos of India's future if they acknowledged that India's goal is to simply grow its economy and improve its peoples lives, while acquiring critical technology.

That isn't the topic, and sure we don't aim to replace them. But if we look at comparative advantages, china has the upper hand. Our manufacturing output is very low and barely growing significantly, while china's exports of just goods alone is more than our GDP.

 

[nongaddarliberal]

That isn't the topic, and sure we don't aim to replace them. But if we look at comparative advantages, china has the upper hand. Our manufacturing output is very low and barely growing significantly, while china's exports of just goods alone is more than our GDP.

Sure. I've just been seeing all these "India is not the next superpower" videos over the past 3 years and called out the strawman pattern I've noticed. Not arguing about our manufacturing disadvantages against China.

 

[Azaad]

Most of this is truth, and there's little one can do about India in current situation.

A judicious mix of facts , superficiality & being economical with the truth .

Consider the steel & cement mfg output of China as compared to India & let's see how much of it is commercially viable vis a vis blindly building up capacities.

As far as API goes , I'm guessing by the end of this decade the situation will have reversed.

The ones on expressways & building infrastructure & neglecting mfg is true as well as our lack of focus on labor reforms .

Ditto for textiles which is something we could've easily scaled up & which in turn is linked to the the point above.

The most galling part is our lack of strategic planning where the Chinese would have to get credit by insisting on foreign companies tying up with local partners for easy absorption of technology which is now yielding them tremendous benefits in fields like low cost mobile phone market .

Hopefully here the entry of conglomerates & other not so big players like Tatas , Dixon technologies etc take a leaf out of Chinese companies.

The above mentality & apathy of the Indian state as far as strategic planning was also visible when we let the Chinese low cost mobile phone companies enter India without insisting on a local partner . Hell you can see that even today as far as the metro rail is concerned with us either importing rolling stock from China or from foreign OEMs with mfg units there .

Even if there's a plan to eliminate importing from China it's not backed up with one to build up local mfg using local companies like Medha Titagarh etc . Instead we've allowed global giants like Alsthom to set up 100% local subsidiaries here . What's the chance in a few years , Alsthom won't gobble up a Medha ?

Ditto for our lack of foresight in building brands in the most basic of consumer electronics segment like refrigerators washing machines etc where our local homegrown companies are facing tough competition to even survive leave alone thrive with zero presence in the LED / LCD segment.

The list of rants is endless but these are what I could think of first up while penning my reactions to the documentary.

 

[spacemarine2023]

Most of this is truth, and there's little one can do about India in current situation.

I cant say I am an Economic scientist, but I have done some schooling and crunched numbers.

One of basic things during crunching numbers for Economics projections specially regarding a sector of Economy is trying to handle three body or n body problem.
No matter how much historical data we collect and process no matter how much variables one can take into picture the long term actual values will/were in most of the cases completely different.

Here this gentleman is trying to project Indian economy with some basic production numbers this is all good for regular ppl but for sm1 who has good knowledge and experience in field … its crap.

 

[vin bharat mahan]

In terms of productivity, scratch out the highly literate Southern state.

yup..but check their (south india) birth rate also. most south state birth rate reach near 1.8-1.6 below replaceable rate. they will need more nd more cheap labour from higher birth rate states (like up, bihar etc). nd coming years these industrial south states consumer market will be higher populated state. thats also truth.

 

[vin bharat mahan]

BASED

JP Morgan ke kanjus bhikmango...2 trillion me se kam se kam 500 billion to india me lagawo. apne jhunjhun wala ji tumhe batayenge kis share me paisa lagana hai.

 

[nongaddarliberal]

yup..but check their (south india) birth rate also. most south state birth rate reach near 1.8-1.6 below replaceable rate. they will need more nd more cheap labour from higher birth rate states (like up, bihar etc). nd coming years these industrial south states consumer market will be higher populated state. thats also truth.

They don't need 700 million labourers. The vast majority of people in UP, Bihar, WB, MP and Rajasthan can only climb up if their own states develop. South India can only absorb 20-30 million.

 

[sauntheninja]

JP Morgan ke kanjus bhikmango...2 trillion me se kam se kam 500 billion to india me lagawo. apne jhunjhun wala ji tumhe batayenge kis share me paisa lagana hai.

He is dead