Indian Economy: News and Discussion

ForigenSanghi

Regular Member
Joined
Aug 8, 2019
Messages
339
Likes
2,295
Country flag
East Asia particularly China is moving towards 6G, we should think about that too.
6G is not even invented right now and will not till 2030. You sound like you do not have any knowledge of these things.

Definition of 6G is yet to be defined.
as far as india is concerned, it is upto the rich people to decide.
In 5G, 7% of patents belong to India. I expect 15-20% of 6G research to come from India.
Indian universities are actively contributing in the definition. Just check the IEEE paper submissions.

5G should be more than enough for even a decade into future. What would we need 6 for?
Everything from For flying cars and Nano technology.



A lot of nonsense to unpack in quotes below.
Bro he is not an economist, but an investor.
Investors have real money at stake unlike economists such as Rajan who keep making failed forecasts every few months like a road side astrologer.

Share market is different from economy
In medium to long term Stock market is 100% correlated with economy. Just look at the time the chut*ya mms was PM, both the economy and the stock market were in the toilet.
 

RoaringTigerHiddenDragon

Regular Member
Joined
Sep 5, 2020
Messages
682
Likes
3,418
Country flag
I am not sure what these economists are crowing about. We are already the world's 3rd largest economy. The Chinese economy is about 2.5 times ours. This is despite the Wuhan virus - so we are not doing all that badly.

Our real GDP is around $9 trillion and China's is around $22 trillion. The US is around $20.5 trillion. So, we are doing ok economy wise. Where we lack is technology sophistication and moving low income agriculture people to better paying professions, so we can urbanize more and the whole society can become more sophisticated, with better healthcare, water, food choices, enough moneys to travel abroad etc. So Raghuram Rajan has to focus on how to cater to the aspirational needs of people. Most people have some amount of their basic needs taken care of today and when we double real GDP by 2025-2026, almost all basic needs will be taken care of. So, this no longer is a problem. We need to focus on increased R&D, higher productivity of labor, skilling rural labor to work on more sophisticated jobs, semi-urbanizing villages, making our cities world-class, better political governance,much reduced corruption etc. Raghuram Rajan is still stuck on roti, kapda, makaan policy, which shows he is out of touch with what is going on in India.
 

Peter

Pratik Maitra
Senior Member
Joined
Mar 3, 2014
Messages
2,835
Likes
2,844
Country flag
I am not sure what these economists are crowing about. We are already the world's 3rd largest economy. The Chinese economy is about 2.5 times ours. This is despite the Wuhan virus - so we are not doing all that badly.

Our real GDP is around $9 trillion and China's is around $22 trillion. The US is around $20.5 trillion. So, we are doing ok economy wise. Where we lack is technology sophistication and moving low income agriculture people to better paying professions, so we can urbanize more and the whole society can become more sophisticated, with better healthcare, water, food choices, enough moneys to travel abroad etc. So Raghuram Rajan has to focus on how to cater to the aspirational needs of people. Most people have some amount of their basic needs taken care of today and when we double real GDP by 2025-2026, almost all basic needs will be taken care of. So, this no longer is a problem. We need to focus on increased R&D, higher productivity of labor, skilling rural labor to work on more sophisticated jobs, semi-urbanizing villages, making our cities world-class, better political governance,much reduced corruption etc. Raghuram Rajan is still stuck on roti, kapda, makaan policy, which shows he is out of touch with what is going on in India.
Nominal GDP as a measure of a country's wealth is hardly the benchmark for determining the economic might of a country. What matters is the GDP per capita and PPP(Purchasing Power Parity). In terms of GDP(PPP) per capita we still have along way to go before catching up with the Western nations.

 

ForigenSanghi

Regular Member
Joined
Aug 8, 2019
Messages
339
Likes
2,295
Country flag
Nominal GDP as a measure of a country's wealth is hardly the benchmark for determining the economic might of a country. What matters is the GDP per capita and PPP(Purchasing Power Parity). In terms of GDP(PPP) per capita we still have along way to go before catching up with the Western nations.

So as per you

Singapore has more economic might than USA
Maldives has more economic might than China
Bhutan has more economic might than India

madrassa main economics padhi the kya? :rofl:
 

Peter

Pratik Maitra
Senior Member
Joined
Mar 3, 2014
Messages
2,835
Likes
2,844
Country flag
So as per you

Singapore has more economic might than USA
Maldives has more economic might than China
Bhutan has more economic might than India

madrassa main economics padhi the kya? :rofl:
No GDP PPP per capita is distorted by small countries with a low population or by tax havens. Economic parameters are not the be all and end all of judging a country's economic might as a whole but they do provide a rough picture of the country's wealth, the well being of its citizens and the living conditions.

Also do every one a favour and stop ad hominem attacks maybe the Madrasa you went to did not reach you to be a gentleman.
 

DerBronzeLord

Regular Member
Joined
Jan 21, 2021
Messages
756
Likes
3,063
Country flag
So as per you

Singapore has more economic might than USA
Maldives has more economic might than China
Bhutan has more economic might than India

madrassa main economics padhi the kya? :rofl:
Nominal GDP highlights the gross domestic product IF the currency values were the same(in a rough sense of speaking). Smaller countries have wealth distributed among few people. If Bhutan has a million people, with a GDP of a billion dollars, the GDP per capita would be 1000 dollars, while India with a GDP of, say, a trillion dollars, and a population of a billion people would have the same GDP per capita, but when it came to national affairs, like defense, for example, India would be able to spend more due to its higher total GDP, though the GDP per capita is the same. GDP per capita should be compared with countries having a larger population.

You should perhaps read a bit more of economics before telling off others by calling them madrassa educated.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
24,015
Likes
83,677
Country flag
X Post

Israel-based firm produces solar technology in India for UAE

The Israeli embassy on Thursday said a partnership has been initiated by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) through which an Israel-based company is producing an innovative robotic solar technology in India for a landmark project in the United Arab Emirates (UAE).


 

FalconSlayers

Based Kashmiri
Senior Member
Joined
Oct 14, 2020
Messages
10,696
Likes
44,142
Country flag
X Post

Israel-based firm produces solar technology in India for UAE

The Israeli embassy on Thursday said a partnership has been initiated by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) through which an Israel-based company is producing an innovative robotic solar technology in India for a landmark project in the United Arab Emirates (UAE).


India and Israel Governments should sign a deal making India the manufacturing partner of Israeli companies, currently they do it in China and little bit in Israel.
 
Joined
Apr 29, 2015
Messages
14,727
Likes
33,866
Country flag
Nominal GDP as a measure of a country's wealth is hardly the benchmark for determining the economic might of a country.
No, the total wealth is rather an indicator for it.
GDP indicates economic activity which rules trade power and not necessarily buying power of a country internationally.

Long term wealth generation policies ultimately result into higher GDP in long term. Or yeah, higher GDP correlates. Since, money increases when it flows.

GDP's yet not a proper development indicator.
 

HariPrasad-1

Senior Member
Joined
Jan 7, 2016
Messages
7,938
Likes
15,495
Country flag
X Post

Israel-based firm produces solar technology in India for UAE

The Israeli embassy on Thursday said a partnership has been initiated by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) through which an Israel-based company is producing an innovative robotic solar technology in India for a landmark project in the United Arab Emirates (UAE).


Solar Cell import should be put in Negative list.
 

RoaringTigerHiddenDragon

Regular Member
Joined
Sep 5, 2020
Messages
682
Likes
3,418
Country flag
No, the total wealth is rather an indicator for it.
GDP indicates economic activity which rules trade power and not necessarily buying power of a country internationally.

Long term wealth generation policies ultimately result into higher GDP in long term. Or yeah, higher GDP correlates. Since, money increases when it flows.

GDP's yet not a proper development indicator.
I think people have issues as to what gdp to use. Here’s some hints.

- nominal means “name sake” or “in name only” or artificial I.e not real. You see nominal gdp is not directly calculate. It is computed using some error prone factor called deflator applied on the actual or real gdp.

- real gdp is what is directly calculated and that is why it is called “real” or “actual” gdp. This is the gdp used by all central banks. No one uses the namesake or error prone nominal gdp. It is only used by forex markets to calculate currency values.
- the more refined version of real gdp is the ppp gdp, which is the next accurate thing behind real gdp.

if you want to know the economic might of a nation, use the real gdp. For India it is around $7 trillion. Not bad. Though our budget of $800 billion (central + states) is just 10% of the real gdp. We need to increase tax revenue collection to at least 15-20% of real gdp, if we want to grow at 8-10%. Our total budget should be $1 trillion center plus $500 billion states = $1.5 trillion. $800 billion is way too small for 1.3 billion people.
 

Okabe Rintarou

Regular Member
Joined
Apr 23, 2018
Messages
762
Likes
2,999
Country flag
I think people have issues as to what gdp to use. Here’s some hints.

- nominal means “name sake” or “in name only” or artificial I.e not real. You see nominal gdp is not directly calculate. It is computed using some error prone factor called deflator applied on the actual or real gdp.

- real gdp is what is directly calculated and that is why it is called “real” or “actual” gdp. This is the gdp used by all central banks. No one uses the namesake or error prone nominal gdp. It is only used by forex markets to calculate currency values.
- the more refined version of real gdp is the ppp gdp, which is the next accurate thing behind real gdp.

if you want to know the economic might of a nation, use the real gdp. For India it is around $7 trillion. Not bad. Though our budget of $800 billion (central + states) is just 10% of the real gdp. We need to increase tax revenue collection to at least 15-20% of real gdp, if we want to grow at 8-10%. Our total budget should be $1 trillion center plus $500 billion states = $1.5 trillion. $800 billion is way too small for 1.3 billion people.
Isn't the real gdp calculated from the nominal gdp by correcting it for inflation? The deflator is applied to the nominal GDP to get the Real GDP, right?
 

RoaringTigerHiddenDragon

Regular Member
Joined
Sep 5, 2020
Messages
682
Likes
3,418
Country flag
Isn't the real gdp calculated from the nominal gdp by correcting it for inflation? The deflator is applied to the nominal GDP to get the Real GDP, right?
dont think so...real gdp is the only one that can be directly calculated as all you have to do is multiply volume of goods with market prices at which they are sold [market prices naturally include inflation]. Very easy to calculate. Nominal gdp - have to use a deflator to remove inflation. Now this deflator is not calculated well and is prone to errors. That is why nominal gdp is not used anywhere except forex markets. If I sell 20 pizzas at 50 rupees each, 20 x 50 = 1000 rupees is real gdp.
 

Global Defence

Articles

Top