Indian Economy: News and Discussion

[shashankk]

I have observed this with Indian employees of foreign companies settled in US particularly in my IT career so far.
There were numerous cases where the Indian employee of the client will talk to us in rowdy manner and aggressive mails and voice in calls.
Where as the All-American clients were super nice. My first project was for applications hosted in US but for clients complete world wide user base, the IT manager from client was US person and the BA was also US citizen.
Both were super nice and helping. Those two had to scold that particular Indian employee to not to bother us and follow the defined process and then come to us for any request.
Similar case multiple time with Indian employees from different projects.

1000% agree on this. At least in IT majority of Indians in USA suffer from MATA syndrom. Our American CTO was faar faar better human being than the Indian one we have as his successor.

 

[Suryavanshi]

MATA syndrom

Explain please could be helpful for us folks who want to know about corporate moral and behavioral conduct.

 

[shashankk]

Explain please could be helpful for us folks who want to know about corporate moral and behavioral conduct.

More American than Americans.

 

[shashankk]

BYJUS was running internship program where they paid interns 5000+ for advertising BYJUS in Big malls and public places. They are offering 8 to 12 LPA CTC in some places.
I guess the Company is doing well.

2 years back a BYJU guy visited my place because my son installed the app on his phone and they ended up calling my wife and visited my home.
Guy was full of attitude and gadgets. iPad, cool accent and power dressing. Very demanding in terms of he needs everyone to explain things about program.
Ended up sending him back only due to attitude. Cost of program was another factor. They are minting money by showing off cool sales persons and will take you to moon in terms of initial expectations.

 

[Nicky G]

U know I sometimes feel like we can never be no China, USA or Japan.
We have to many blood suckers.
-Politicians
-Bureaucracy
-Anti India Elements
-The Public

Unlike America we don't have as much free land that a industry will set up far from any urban population where no public can break shit in protest.
We don't have guns to defend against extortion.
We don't have Capitalist mindset of the 1900s to 1970s Amrica
We have been infected by the naxal disease which America killed in Infancy.

As we evolve we are having problem of first world nation without tasting first world development

Has any genuine democracy ever developed or have they developed first and then evolved to a wider democratic setup?

We are doing things backwards. We don't have industries but we have laws to uphold labour rights. UK and US grew only by exploiting labour.

It's ridiculously easy to halt progress in this country. The only reason what little development happens is so that politics and babus and other leeches in our system can scam cuts from it.

We have insane protections for so called freedom of speech to cover for actions that are aimed at derailing progress. We have environment laws before we have manufacturing.

The only thing going for us that we still have the advantage of cheap labour but that can only get you so far. Out R&D is abysmal.

The biggest problem is that states that have developed to an extent will not allow other to develop. For instance, why should IT be limited to overloaded cities like Bangalore and Hyderabad? Simple, the politicans there won't allow it to move out.

We are a third world nation with infrastructure and industrialisation to match but we have first world ideas and protections. Very little chance we will ever progress beyond a point.

All this is without even considering the security challenges, both internal as well as external. There is no reason for China to allow us a peaceful period for growth that they were able to. Porkies will be Porkies.

What will do us in is the jehadi population working with commies that will create violence and drive away any sane business.

There is so much more to cover, a thread on our economic future and challenges could be useful.

 

[no smoking]

The biggest problem is that states that have developed to an extent will not allow other to develop. For instance, why should IT be limited to overloaded cities like Bangalore and Hyderabad? Simple, the politicans there won't allow it to move out.

That is not anyone's obligation to develop others.
If other cities want to develop their own IT industries, isn't it their own duty to make effort to improve their business environment to attract talent and investment?

 

[Knowitall]

View attachment 102131

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World Indices Live- Investing.com India

Get live quotes from global indices and stock markets around the world sorted by country including India, US, UK and many more.

in.investing.com

Some more punishment in store for China and its immediate neighbour. Volatility in Indian markets not ruled out.

More like self inflicted punishment or course correction.

The Chinese govt had is now trying to set in motion their plan of 3 child policy.

Just like India china too faces the problem of for profit tutoring firms the biggest example being BYJU's. For profit tutoring has created a situation which in better terms can be called a rat race. In the case of education, it refers to the trend of getting into the best universities increasingly requiring after school tutoring to improve test scores. Before, the best universities were competitive. Now, everyone sends their kids to after school tutoring and the best universities are still just as competitive. Everyone works harder, but there is no benefit.

A strong rebound has started and will follow once the crackdown is done due to demand and market size factor.

So china is reigning in this industry to make sure that average consumer has more income in their hands thus incentivizing the public to have more kids. Chinese TFR issue will them a good 30-40 years from now if course correction can be made in the next decade then the issue can be optimally dealt with to a certain extent.

Now for the other reasons

Few chinese companies over the past few years have listed themselves on the US stocks while ignoring the chinese ones. This basically ends up making them a foreign company operating in china. This has been a issue with china who is trying to promote shanghai has the global financial center.

What chinese are trying to here is create environment for companies to relist in hong kong in order to avoid the stringent national security checks.

The main aim of all these regulations and checks is to make sure that the market is stabilized to prevent the creation of bubbles.

Take a look at this

Such too big to fail companies will be forced to go through these course correction methods in order to make sure that future capital allocation is done properly.

China tightens regulation for loans to real estate sector

news.cgtn.com

The plan is to stabilize the markets across the board the board. How well it work that is something only time can tell.

 

[warriorextreme]

Fun Read

The Wire: The Wire News India, Latest News,News from India, Politics, External Affairs, Science, Economics, Gender and Culture

thewire.in

 

[gslv markIII]

Fun Read

The Wire: The Wire News India, Latest News,News from India, Politics, External Affairs, Science, Economics, Gender and Culture

thewire.in

Dr V.V. Abhilash is an Assistant Professor in the Department of English, School of Humanities and Social Sciences, GITAM University, Hyderabad.

 

[doreamon]

Fun Read

The Wire: The Wire News India, Latest News,News from India, Politics, External Affairs, Science, Economics, Gender and Culture

thewire.in

He said protest against industry in kerala happen because people are literate .. .. literate in india means one who can read and write his name .. Why is it given such prominance .. I have seen fools among highly educated . Too shy to admit that there are lots of trade union politics where ever left dominates .

And look at qualification of the one who wrote it -

Assistant Professor in the Department of English, School of Humanities and Social Sciences, GITAM University, Hyderabad.

 

[warriorextreme]

He said protest against industry in kerala happen because people are literate .. .. literate in india means one who can read and write his name .. Why is it given such prominance .. I have seen fools among highly educated . Too shy to admit that there are lots of trade union politics where ever left dominates .

And look at qualification of the one who wrote it -

Assistant Professor in the Department of English, School of Humanities and Social Sciences, GITAM University, Hyderabad.

By literate he must either mean puppets at the hands of communist party of china or he is from Hyderabad so he might just be trying to pull a fast one with Kerala

 

[Indx TechStyle]

And what about Dubai ?

They got the most crude resource called petroleum and have invested elsewhere in diverse industry too. Economies like KSA with sole dependence on oil have a very bleak economic future.

Your place in value chain matters more than your accessibility to resources. For instance, India doesn't produce oil unlike Nigeria but has world's largest petrochemical processing and industry and exporter of same, far better in well being than Nigeria.

Since metal industries aren't simple as oil, you can pick China and India as nations as compared to Afghanistan. China and Afghanistan have large reserves of natural resources. Yet China and to some extent India has dwelled industries capable of competing with western counterparts, Afghanistan doesn't fall in site by a light year.

U know I sometimes feel like we can never be no China, USA or Japan.
We have to many blood suckers.
-Politicians
-Bureaucracy
-Anti India Elements
-The Public

Internal problems have been part of systems of all countries. It's current world order and now consciousness and cautiousness of nations against growing powers which will not let India follow a trajectory like China and Japan.

 

[Suryavanshi]

Also Dubai is trying to be the next Miami and Switzerland at the same time.

Miami in terms of luxurious sea side living and Switzerland in terms of finance.

 

[ezsasa]

Also Dubai is trying to be the next Miami and Switzerland at the same time.

Miami in terms of luxurious sea side living and Switzerland in terms of finance.

Dubai’s current economic model was designed by a British guy, there is a documentary on it.

It’s predicated on a very simple principle that Dubai is equidistant from europe and Asia. Kudos to them for taking the risk three decades ago. They had no choice anyways.

 

[SKC]

BYJUS was running internship program where they paid interns 5000+ for advertising BYJUS in Big malls and public places. They are offering 8 to 12 LPA CTC in some places.
I guess the Company is doing well.

BYJU is running really well.

Couples from IT sector in Bglore and other major IT cities are subscribed to their packs as both parents are working and they just rely on these companies for education of their kids.
The packages are not cheap exactly they bundle up freebies like tablets to lure parents into it.

 

[indus]

Also Dubai is trying to be the next Miami and Switzerland at the same time.

Miami in terms of luxurious sea side living and Switzerland in terms of finance.

Where is Oil. @Chandragupt Maurya may be interested in Dubai data as it does not show dependence of any natural resource.

 

[DivineLight]

Even in economy thread, you guys discuss religion and demographics.

Biggest problem for our economy is lack of spending and too much government interference in wrong places. Let's not talk about our tax system. It's beyond stupidity.

Just check our budget and see where the money is going. And lack of Industry. Factory workers who hate the owners. Helpless owners. PSUs which hate profits. Ironic they keep mum on losses.

 

[ezsasa]

Then why was freight equalisation policy imposed on the eastern states of Bihar Jharkhand Odisha Chhattisgarh etc ?
And how will these states pay more taxes when they have been systematically de industrialized ?

If you want to go back in history , we can go back all the way to an age when pataliputra used to be the capital of Bharat for many centuries. all the tax money from bharat used to go to pataliputra, pretty sure sindh merchants would also have raised the same point you are making now.

 

[Lonewolf]

If you want to go back in history , we can go back all the way to an age when pataliputra used to be the capital of Bharat for many centuries. all the tax money from bharat used to go to pataliputra, pretty sure sindh merchants would also have raised the same point you are making now.

Why are we entertaining his childish replies , he usually stick to a topic for months , and if reminded he return back to it , like some 5 yr old

 

[Knowitall]

Also Dubai is trying to be the next Miami and Switzerland at the same time.

Miami in terms of luxurious sea side living and Switzerland in terms of finance.

One of the prime reasons behind the success of dubai and to a larger extent UAE's economy are the policies enacted by their govt to make sure that their citizens have a large amount of money on hand to spend.

More wealth in the hand of consumer's will directly result in more wealth going into the economy thus boosting GDP and the overall economy.

In india it is the exact opposite the bulk of the main consumer class has to face high taxes education healthcare and inflation related costs all at the same time.

This results in low spending patters and more savings.

Nirmala Sitharaman saying millennials mindset of using ola and uber instead of buying a car is part of the problem.

Instead of blaming the people FM needs to understand the issues resulting in this change of thinking and try to correct it.

Cars and other high cost items can only be brought if one has a stable bank balance.