Indian Economy: News and Discussion

nongaddarliberal

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What are some good startup ideas for India that can plug into the global economy, i.e bring in dollars, while taking advantage of the large and cheap labour pool?

A pattern I'm noticing with our startup ecosystem is that their plans begin and end with the domestic market. I'm not seeing as much enthusiasm about going global and taking advantage of the 100 trillion dollar global economy rather than be stuck with the 4 Trillion dollar Indian one.
 

Pythonlover

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Q3 8.4%
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Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹172.90 lakh crore, against the FRE of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate of GDP during 2023-24 is estimated at 7.6 percent as compared to growth rate of 7.0 percent in 2022-23.

Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated to attain a level of ₹293.90 lakh crore, against ₹269.50 lakh crore in 2022-23, showing a growth rate of 9.1 percent.

GDP at Constant (2011-12) Prices in Q3 of 2023-24 is estimated at ₹43.72 lakh crore, against ₹40.35 lakh crore in Q3 of 2022-23, showing a growth rate of 8.4 percent. GDP at Current Prices in Q3 of 2023-24 is estimated at ₹75.49 lakh crore, as against ₹68.58 lakh crore in Q3 of 2022-23, showing a growth rate of 10.1 percent.

@Crazywithmath How can real GDP growth be 8.4% but nominal GDP growth 10.1% when inflation has been near 4-5%?
 

sauntheninja

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What are some good startup ideas for India that can plug into the global economy, i.e bring in dollars, while taking advantage of the large and cheap labour pool?

A pattern I'm noticing with our startup ecosystem is that their plans begin and end with the domestic market. I'm not seeing as much enthusiasm about going global and taking advantage of the 100 trillion dollar global economy rather than be stuck with the 4 Trillion dollar Indian one.
The next big things is of course AI. VC will wet their pants for any ai startup. Jokes aside the high interest rates means startups which don't have a business model won't survive and the next wave seems to be hardware which unfortunately China and US are in the best position to take advantage of we suck in hardware and will be playing catch up again
 

nongaddarliberal

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The next big things is of course AI. VC will wet their pants for any ai startup. Jokes aside the high interest rates means startups which don't have a business model won't survive and the next wave seems to be hardware which unfortunately China and US are in the best position to take advantage of we suck in hardware and will be playing catch up again
Everything doesn't need to be big boy stuff like electronics manufacturing. Leave those to the billionaires and geniuses. There can be service related tasks that you can train the average graduate or diploma holder to do that the global market needs, beyond just programming, but it requires a lot of creativity and insights into gaps in the global market.
 

sauntheninja

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Everything doesn't need to be big boy stuff like electronics manufacturing. Leave those to the billionaires and geniuses. There can be service related tasks that you can train the average graduate or diploma holder to do that the global market needs, beyond just programming, but it requires a lot of creativity and insights into gaps in the global market.
Imo going for global markets from the start is foolishness. Every startup starts local of course our problem is usually that we can't scale globally after that but all we can do is train college students in entrepreneurship and give them access to funding and focus more on projects than rote knowledge
 

Tejbrahmastra

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On a day when the Union Cabinet approved three major semiconductor proposals, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said that the government is also examining a $11 billion fab proposal by Israel's Tower Semiconductor.
 

nongaddarliberal

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Imo going for global markets from the start is foolishness. Every startup starts local of course our problem is usually that we can't scale globally after that but all we can do is train college students in entrepreneurship and give them access to funding and focus more on projects than rote knowledge
This is simply a discussion on what the possible services are apart from IT outsourcing. Just brainstorming.
 

sauntheninja

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This is simply a discussion on what the possible services are apart from IT outsourcing. Just brainstorming.
Honesty why wouldn't you go to the US if you have this brilliant idea. One VC's are more likely to take the risk there and second even if you don't end up starting a startup or it fails you can earn ton of money there. All countries are facing these issues if you're skilled go to US to maximize your earnings
 

nongaddarliberal

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Honesty why wouldn't you go to the US if you have this brilliant idea. One VC's are more likely to take the risk there and second even if you don't end up starting a startup or it fails you can earn ton of money there. All countries are facing these issues if you're skilled go to US to maximize your earnings
Its not for me personally. I am curious about what the possibilities are with a large and low wage population apart from the mainstream IT and low end manufacturing. There has to be something more that can be done with a fairly educated workforce willing to work for 400 dollars a month, with mass internet penetration.

Right now they're just going into youtube and Tiktok using the internet, apart from their regular jobs.
 

indiatester

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Our society doesn't have cauvery water connection. Builder fucked up and the RWA has tried every trick in the book to get Cauvery water but no use.

We rely on borewell water and water tankers. Serious water scarcity in Bangalore coz of scanty rain last year.

Our RWA is spending ~14L a month on tanker water which could likely go up as water tanker charges try to catch up with Nifty.

Added later - We have 8 hour long scheduled water cuts to 'conserve' water.. and this is in South Bangalore. Sarjapur, Whitefield are worse off. Individual houses are the worst affected because their requirement is less so even though they are willing to spend money, tanker owners would rather stick to RWA's with whom they have long term supply contracts.

Might have to move out of Bangalore if rains fail this year too. Summer will be quite rough.
What worked for us was approaching the water dept higher ups as a group.
Take an appointment with the secretary and go with a large group with a few representatives to talk.
However have all the documents in order!
 

thebakofbakchod

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What are some good startup ideas for India that can plug into the global economy, i.e bring in dollars, while taking advantage of the large and cheap labour pool?

A pattern I'm noticing with our startup ecosystem is that their plans begin and end with the domestic market. I'm not seeing as much enthusiasm about going global and taking advantage of the 100 trillion dollar global economy rather than be stuck with the 4 Trillion dollar Indian one.
They cant because they are unable to compete globally on cost. Most companies in India face a triple whammy buttf*ck in the name of high land costs for factories, high electricity cost as you are subsiding the free bijli of farmers, and high import taxes+cess on machinery.
 

ezsasa

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What are some good startup ideas for India that can plug into the global economy, i.e bring in dollars, while taking advantage of the large and cheap labour pool?

A pattern I'm noticing with our startup ecosystem is that their plans begin and end with the domestic market. I'm not seeing as much enthusiasm about going global and taking advantage of the 100 trillion dollar global economy rather than be stuck with the 4 Trillion dollar Indian one.
to go global, it's not "lack of enthusiasm" it's realism, to sell manufacturing products(consumer) globally Indian companies have to compete with countries who have free trade agreements(zero duty imports). in some export categories, prices are competitive even with out FTA but most categories are not.

even if something is manufactured at same cost here with let's say china, the zero import duty becomes a profit for chini companies which Indian companies cannot avail without FTA.

service exports do not go thru ports, so no import tariffs. the usual direct and indirect tax at both ends.
 

ezsasa

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you see... i never forget one's core competency ..Her is "THANK YOU TAXPAYERS"

Rest all can go for a talk
by the way in case folks haven't realised this yet, irrespective of whether individuals acknowledge it or not, history has already been written.

ten twenty thirty years from now when neutral economic and policy experts go back and try to build a timeline of when exactly the structural changes in Indian economy started and how did Indian economy survive three major global shocks in short period of time i.e chini virus, ukraine war, israel war, all ministries who contributed including your tai will make the list. their respective ministry policy decisions along with their public speeches will buttress their case.
 

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