Indian Economy: News and Discussion

nongaddarliberal

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My nibba @Haldiram, where you at?

Would love to see your analysis of this package and reforms. BTW, about 3 years ago, when I first joined this forum, I remember us having a debate about Scandinavian style welfare state vs minimal govt involvement. I was on the side of Scandinavian welfare state and you were on the side of minimal involvement. My views have changed significantly since then.

Govt wastage and misallocation of resources even in these "model" northern european countries is outrageous. All this at the cost of giving away 50% of your income. In every single sector, the free market would delivery better services at lower cost if its allowed to function without unbearable govt constraints, that seek to maintain govt monopoly on these sectors.
 
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no smoking

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India's skilled and semi-skilled & informal labour have large gap and pool of lower end goes a lot unrecorded in sub contrator factories and medium plants who employ labour directly from contractors. Number of employed workers here was only downplayed to hide actual salaries being distributed.
It is funny that every time talking about any economic topic, Indian friends always come up with this claim "our true figure should higher because somehow there is underestimation". Well, what make you think that those enterprises in other developing countries are more honesty on their employees. My friend, putting some of employees in the shadow to avoid tax and social security is a common game for every private companies.

Manufacturing though will continue to fluctuate as sources of demand are limited to home and they will rise along with variety of products manufactured and pool of customers. Accordingly, skilled labor has been increasing complying with income levels.
Never doubt about that. But the problem is that the skilled labor won't just double in 10 years. But this turn of manufacturing re-location will be finished in 10 year.

Textile sector is fated to lose at least some share if not decline altogether as median incomes of Bangladesh is low and labour highly unorganized. So cost of product there will continue to be low by default.
You just don't understand the value of this kind low end and labour intensive industries. They are perfect sectors for those unskilled/unexperienced labour force. On the other hand, those high or middle end industries don't offer much opportunities for ordinary people in developing countries like India.

The largest upcoming consumer class too happens to be from India which if eases rules, moving low end industries will have more tendency to settle there in Indian subcontinent, especially India for a single source of supply chain as well as single largest pool of consumers.
The problem is the number of factories moving into India won't be enough to put India into the position of "world factory".
India will be only ONE of the LARGEST market, not now but future.
India is not a single source of supply chain either, and won't become a single supply chain in the near future because today's India doesn't have a full industrial chain as China in 1990s. Chinese full industrial chain was the result of cold war, India won't be able to replicate that in a free market.

"Competition" with SE Asia doesn't exist there is little convergence between scopes of India and SE Asia except home appliances and other electronics where India has been holding rising shares. India's automotive production (except recent slump) has always been more than demand and export oriented and so with locally expanding electronic companies. In aerospace sector and its growth, India doesn't even face anything from SE Asia.
Really? In 2016 alone, India recorded her deficit in Machine, Mineral fuel, plastic, electronic, organic chemistry, etc. In 2018, India had to increase her custom duty on automobile components, television LED/LCD and OLED panels, fruits juices, smart watches and sunglasses, etc.

The "mis calculations" you're talking about aren't even a risk as most planned industrial expansion is strongly backed by India's local demand. Only competition lies here with exports. SE Asian vendors aren't going to get a free pass to trade with India to push back local companies in near future existing environment.
Well, India only get a free pass to trade with ASEAN either. More importantly, by locating closely to Japanese/Korean/Taiwanese/Chinese suppliers, ASEAN countries can provide relatively cheaper products in world market.

China was always favored intermittently by USSR or USA to harvest strategic gains and those tech transfers & concessions for sure make bulk of share of "Rise of China".
That was the problem, wasn't it. What did Chinese do to get two superpowers to favor her. Were Americans and Russians simply too stupid? Or because Chinese was willing to take big risk, so received big rewards.

Still use our first Chinese factory as an example. Before we built it up, India was also a potential destination. In the first round visit, the manager at the time expressed his doubt about local infrastructure to both governments. Both promised to take action on it. One month later, in the second round visit, Indians showed them the government proposal and told them the project would begin once it was approved. On the other hand, Chinese just took them to the building site, the project already started. So, they decided to put the factory in China. After the agreement was signed, the Chinese mayor told him that all of the local government bosses would be in big trouble if they didn't get the deal and the mayor himself would probably end up in jail because this risky project.
 

HariPrasad-1

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nongaddarliberal

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Here we go....:doh:
RSS-backed trade union BMS condemns suspension of labour laws in BJP-ruled Gujarat, MP and Uttar Pradesh, announces nationwide protests
I'm sceptical about other states, but I'm confident that yogi will fulfill labour reforms properly in Uttar Pradesh. It will in turn allow UP to transform into the biggest manufacturing state in India.
 

Pandora

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Anything for us ? Am not getting how come providing loan is helpful? What middle class like me got from all this while my company already warned upper band management people from pay cut .While am paying 55k emi every month.what they doing for us while we pay taxes from our nose.
 

Pandora

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BC pharma, automobile ,ac companies, infrastructure companies facing huge losses while this chu#$ya govt giving loans and freebies to migrant workers. My wife company Bluestar sacked 200 contract designer engineers.
 

Akshay Fenix

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Wow that was a great waste of time. Hey I don't know what is going on but I will still open up my mouth.

Lockdown nahi Kiya to bolega, lockdown Kiya to bolega.

West is great, 100,000 have died but still West is great.

20million jobless in US, but still West is great.

Arey come to the point.
 
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IndianHawk

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Here we go....:doh:
RSS-backed trade union BMS condemns suspension of labour laws in BJP-ruled Gujarat, MP and Uttar Pradesh, announces nationwide protests
It's better rss handle the anger of labour's rather than giving space to left parties for revival .
 

IndianHawk

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It is funny that every time talking about any economic topic, Indian friends always come up with this claim "our true figure should higher because somehow there is underestimation". Well, what make you think that those enterprises in other developing countries are more honesty on their employees. My friend, putting some of employees in the shadow to avoid tax and social security is a common game for every private companies.
90% of Indian labour force works in informal sector . That is way higher then other developing countries. So yes Indian economy is underestimated way more than any other major economy on planet. As formalization speeds up. These numbers will begin to reflect.
today's India doesn't have a full industrial chain as China in 1990s. Chinese full industrial chain was the result of cold war, India won't be able to replicate that in a free market.
Bullshit . Chinese manufacturing cought speed only in 2000s . India is already sixth largest manufacturer in the world. Today's India is growing at much faster rate then china of 1990s.

Infact size wise Indian economy is ahead of china of 2008-09. ( gdp ppp). India infrastructure today is much better then Chinese infrastructure in 2008 forget about 1990s.


Your brain is incapable of comprehending data and analyzing. Everytime you write a post you make a fool of yourself. Even school children can write better posts. Sigh.
 

IndianHawk

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Wow that was a great waste of time. Hey I don't know what is going on but I will still open up my mouth.

Lockdown nahi Kiya to bolega, lockdown Kiya to bolega.

West is great, 100,000 have died but still West is great.

20million jobless in US, but still West is great.

Arey come to the point.
West is screwed . Corona recession will force austery in Europe which will further depress fertility rates which means even less white people. More migranta from Syria and afriaca will come in and destroy European culture further. RIP Europe.
 

Rxbanda

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So why is wiki showing 500 billion usd?

It's now again showing 479 billion usd. Seems like a glitch.
At least in scientific research, Wiki sources are not considered authentic because anyone can add/edit it. Same true with any data found in that website.
 

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