Indian Economy: News and Discussion

[Shuturmurg]

what good is high HDI, when it couldn't prevent economic disaster.

in SL's case, economic disaster happened precisely because they put all their money on state sponsored HDI numbers instead of economic stability. most of their tax revenues went into govt jobs, state sponsored education, state sponsored health etc. leaving little for industrial development.

more importantly what's the point in comparing to country whose population is less than residential population of mumbai and land area less than that of assam.

No. In their case it happened because they spent money on infra projects which had no financial viability. For eg :

 

[ezsasa]

No. In their case it happened because they spent money on infra projects which had no financial viability. For eg :

this phase came later, when their economic numbers became unviable for multilateral development banks to lend to them. sure, impact of their last elam war has some role to play here. even if they built white elephant projects, there should have enough economic activity outside of these projects. check their annual budgets.

wealth creation and industrial development is result of cumulative process spread over decades, if a financial crisis is happening today it's roots will be decades back.

not just you, it took us a few years to explain this to our native SL member here at DFI. we were explaining this to him for years before their crisis, it took a national level financial crisis for him to understand what we were trying to say.

 

[tsunami]

 

[sauntheninja]

This shouldn't even be news, 60k to 70k per year is miniscule production, and given the just ₹100 crore investment, its just an assembly plant.

Very illogical, GDP and GDP per capita are directly related to each other, if GDP per capita hasn't even doubled since past 12 years, one can imagine situation of GDP overall.

60k to 70k seems absolutely miniscule like it won't even cover the domestic market nor it will have a impact at exports. Is this plant just to get benefits from PLI?

 

[Haldilal]

60k to 70k seems absolutely miniscule like it won't even cover the domestic market nor it will have a impact at exports. Is this plant just to get benefits from PLI?

Ya'll Nibbiars The aim of the PLI is to create a base not to be in the top position or dominant the market. The effects will be felt after a decade not now. And it's not permanent.

 

[RoaringTigerHiddenDragon]

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.
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UP, Bihar and some other states HDI has to go up. That is the only way. UP is certainly on a human development path.

 

[RoaringTigerHiddenDragon]

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.

Because we think manufacturing jobs are inferior. Everyone wants a service or government job. Manufacturing was never promoted by scamgress and actually killed it with license Raj. Even after 1991, manufacturing did not take off in India due to bad manufacturing policies.

 

[RoaringTigerHiddenDragon]

Let's see. It's not only about GDP growth, but useful industries such as IT and Manufacturing, combined with proper investment in secondary and higher education to improve the human capital in these states.

UP I can tell you is making all the right investments in human development. Free, quality education for school children under NEP is well underway. Youth of today are also getting skilled quickly. ODOP is revolutionizing small businesses with exports. Things are changing fast in UP due to much improved law & order. Don’t be surprised if you see a Varanasi Vedics team in Ipl pretty soon.

 

[RoaringTigerHiddenDragon]

This shouldn't even be news, 60k to 70k per year is miniscule production, and given the just ₹100 crore investment, its just an assembly plant.

Very illogical, GDP and GDP per capita are directly related to each other, if GDP per capita hasn't even doubled since past 12 years, one can imagine situation of GDP overall.

Only 5 or 6 years ago, electricity has reached everywhere. It is still not 100%. Our per capita energy consumption is very low, even though it is 2.5 times Porkis and 4 times chaddistanis. When that increases a lot (at least double) we will know people are living better.
‘India’s services sector is still very strong and growing well. Digital economy will take off for sure. And don’t forget logistics. If people’s incomes were not growing, you would not see massive increases in domestic air traffic. Many important problems like massive bank NPAs, huge power losses, infrastructure gaps, black money, government revenue generation, startup culture, manufacturing focus etc have only been somewhat solved beginning just 5 or 6 years ago. It is going to take until 2030 to see how things go. If BJP somewhat wins but is in minority government or the Congis coalition come in 2024, you can bet we will be back to the 90s era poverty levels. A very disturbing possibility. The elections in 2024 is do or die for us. Wrong choice and we die.

 

[RoaringTigerHiddenDragon]

Well he will be long dead by then. So why would he care? This is to butter up simping moolnivasis of Bharath.

 

[TopWatcher]

Only 5 or 6 years ago, electricity has reached everywhere. It is still not 100%. Our per capita energy consumption is very low, even though it is 2.5 times Porkis and 4 times chaddistanis. When that increases a lot (at least double) we will know people are living better.
‘India’s services sector is still very strong and growing well. Digital economy will take off for sure. And don’t forget logistics. If people’s incomes were not growing, you would not see massive increases in domestic air traffic. Many important problems like massive bank NPAs, huge power losses, infrastructure gaps, black money, government revenue generation, startup culture, manufacturing focus etc have only been somewhat solved beginning just 5 or 6 years ago. It is going to take until 2030 to see how things go. If BJP somewhat wins but is in minority government or the Congis coalition come in 2024, you can bet we will be back to the 90s era poverty levels. A very disturbing possibility. The elections in 2024 is do or die for us. Wrong choice and we die.

Correct, we must vote in 24 by looking at our childrens future. Congis sure will distroy all work done till today.

 

[Psacha1234]

This shouldn't even be news, 60k to 70k per year is miniscule production, and given the just ₹100 crore investment, its just an assembly plant.

Very illogical, GDP and GDP per capita are directly related to each other, if GDP per capita hasn't even doubled since past 12 years, one can imagine situation of GDP overall.

2047 is a long time to go. Consider these points,

1) the population growth rate is coming down rapidly from ~1.45% in 2010 to 0.8% in 2023 and will gradually fall to .30% in 2050.
2) at the same time we are only getting started with our growth story and will probably grown fast for the next decade or so. So the PCI will easily grow much faster than what it is now.
3) the rupee also will probably not depreciate as rapidly as it had in the last 20+ years due to various factors like our own economic strength/ dedollarization/ gradual wane of western hegemony which will also help boost the numbers in $ terms.
4) Rapidly increasing energy independence via renewables over the years will go a long way in achieving these targets.

So I wouldn’t worry too much about the PCI numbers right now and just focus on industrialization and grow rapidly, while also continuing the good work on the poorer sections.
I believe even states like Bihar etc will eventually get out of the current mess by then. Of course political stability is key, another decade for Cong will set us back by many years.

IMO, failure to implement the farm laws was the biggest debacle for this govt. More than 50% of our workforce are in agri.
Would have killed multiple birds with one stone.

 

[Blademaster]

Ya'll Nibbiars The aim of the PLI is to create a base not to be in the top position or dominant the market. The effects will be felt after a decade not now. And it's not permanent.

This is testing the waters and fleshing out the business & manufacturing processes for producing laptops. If this works, Samsung will quickly scale it up. No one will invest billions of dollars unless one is sure that he or she will get return on investment.

 

[sauntheninja]

This is testing the waters and fleshing out the business & manufacturing processes for producing laptops. If this works, Samsung will quickly scale it up. No one will invest billions of dollars unless one is sure that he or she will get return on investment.

Samsung have slowed down their mobile manufacturing plants? They were the very first ones to start manafacture here but now we just hear about apple

 

[jai jaganath]

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www.business-standard.com

 

[Kumata]

 

[sauntheninja]

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ease of doing business

 

[NutCracker]

60k to 70k seems absolutely miniscule like it won't even cover the domestic market nor it will have a impact at exports. Is this plant just to get benefits from PLI?

Samsung doesn't have a single laptop under 75k INR. i think it will fairly cover the market Samsung intended for .
Unless samsung is building low cost Laptops there as OEM for other brands .

Onus is on other brands to open assembly lines for mid range laptops.

 

[NutCracker]

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Lagta Ashneer ne khud koi scammig app me investment fasaya hai.

Taxes on these pay to win/buy skin /gambling /luck based shit is like taxes on Daaru.
They don't contribute anything to the economy, except of leeching off the forex. Has any gaming company opened their game development centers in India. Fukc them.

 

[spacemarine2023]

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sm benGali was arguing east bangladesh is not filthy more than delhi and bombay here is the reality