Indian Economy: News and Discussion

NutCracker

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LoL. It was the single remaining brand trying to resurface..

 

Varoon2

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Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
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Ya'll Nibbiars

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no smoking

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to-stay-or-to-go-decoding-chinese-enterprises-india-dilemma
In the past 20 years, we have been reading this kind of wishful thinking report over and over again.
But what is the result today?

China's share in India's industrial goods imports jump to 30% from 21% in last 15 years: GTRI (indiatimes.com)

The fact is the economic activities don't follow someone's wish, they work on the demand vs supply rule. As long as the demand is there, people have to buy. The problem with India is not the attitude of GOI towards Chinese companies, but Indian domestic suppliers failed to ramp up their output to meet the growing domestic demand. So people have to buy from foreign suppliers, no matter it is Chinese, Japanese, Korean or Europeans.
People only buy the one offering the best cost-effective ratio. Today, in most of occasions, Chinese suppliers are the one offering the best ratio. Banning Chinese goods (GOI has tried many times) won't solve the problem, the demand is still there, Indians have to buy someone else with higher cost. As the result, India will widen her trade deficit.
Of course, India wants to kick Chinese companies out asap. But the problem with this wish is the so called US-Europe-India industrial corporation model doesn't work out as Indians expected, it is too slow and too little. Yes, the MNCs are shifting their industrial base out of China, but India is not the only destination.
So, if you look at the rank of manufacturing output in the world:
In 2015, India was 6th, represented 3% of the world;
In 2023, India was 5th, represented 3.3% of the world.
In the meantime, China's percentage jumped from 20% to 28%.

Global manufacturing scorecard: How the US compares to 18 other nations | Brookings
Top 10 Manufacturing Countries in the World in 2023 | Safeguard G | Safeguard Global
 

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