Indian Economy: News and Discussion

karn

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But Vietnam exports 6 times TN’s exports with the same population. Need to compare South Indian states with ASEAN countries, not Pakshitstan.
I had this argument with a tamilian once his point was that Tamil nadu sells in India . Whereas Vietnam is "forced" to export since their consumption is so much smaller.. I did not have a counter to that.
 

RoaringTigerHiddenDragon

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I had this argument with a tamilian once his point was that Tamil nadu sells in India . Whereas Vietnam is "forced" to export since their consumption is so much smaller.. I did not have a counter to that.
Vietnam per capita income is around $4400 (upper middle income) while TN is at $3200. Clearly means Vietnamese are well off than your average Tamil. I have looked at the TN urban areas and Vietnamese urban areas. Vietnam infrastructure is much better. Chennai should have developed like Hanoi now. But it has not. The Tamil guy’s argument is totally bogus. FDI into Vietnam is much much much higher than TN where FDI is not all that much. TN has all of the aspects of an ASEAN nation - port, education etc. What is lacking is progressive labor laws, business friendliness, land , infrastructure (roads and freight rail), responsible public spending, quick contract enforcement etc. They are stuck in a socialist/commie thinking with freebie based growth. By advertising that they are ahead of Pakshitstan, it should bring shame to them. TN has great potential and could have become the manufacturing paradise of India. Remember UT of puducherry is about the size of Singapore, and could have been made the Singapore of India. But Tamils in Singapore and Srilanka are also not doing well, business wise.
It all shows that TN leaders and people do not have the will or aspiration to become the next ASEAN tiger. It is as simple as that. Everything else is just noise and face saving talk. Lol.

The day Tamil people wake up and question why the f#$k are we not beating Vietnam and vote for a leadership that can help do that is the day TN can be proud.
 

MuffleParch

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Vietnam per capita income is around $4400 (upper middle income) while TN is at $3200. Clearly means Vietnamese are well off than your average Tamil. I have looked at the TN urban areas and Vietnamese urban areas. Vietnam infrastructure is much better. Chennai should have developed like Hanoi now. But it has not. The Tamil guy’s argument is totally bogus. FDI into Vietnam is much much much higher than TN where FDI is not all that much. TN has all of the aspects of an ASEAN nation - port, education etc. What is lacking is progressive labor laws, business friendliness, land , infrastructure (roads and freight rail), responsible public spending, quick contract enforcement etc. They are stuck in a socialist/commie thinking with freebie based growth. By advertising that they are ahead of Pakshitstan, it should bring shame to them. TN has great potential and could have become the manufacturing paradise of India. Remember UT of puducherry is about the size of Singapore, and could have been made the Singapore of India. But Tamils in Singapore and Srilanka are also not doing well, business wise.
It all shows that TN leaders and people do not have the will or aspiration to become the next ASEAN tiger. It is as simple as that. Everything else is just noise and face saving talk. Lol.

The day Tamil people wake up and question why the f#$k are we not beating Vietnam and vote for a leadership that can help do that is the day TN can be proud.
Agreed. It is all about culture. Only a small percent of people work very hard so that the rest of the population can live a pathetic but lazy lifestyle. Not just in TN, all Indian states have the freebie culture that is very hard to break in a democratic country where politicians do just enough to get elected and re-elected. The buck finally stops with the citizens. You get the leaders you deserve.

I forgot exactly who wrote this article but the title was "Did Saddam Hussain create the then Iraq or did Iraq create the then Saddam?"
 

nongaddarliberal

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Vietnam per capita income is around $4400 (upper middle income) while TN is at $3200. Clearly means Vietnamese are well off than your average Tamil. I have looked at the TN urban areas and Vietnamese urban areas. Vietnam infrastructure is much better. Chennai should have developed like Hanoi now. But it has not. The Tamil guy’s argument is totally bogus. FDI into Vietnam is much much much higher than TN where FDI is not all that much. TN has all of the aspects of an ASEAN nation - port, education etc. What is lacking is progressive labor laws, business friendliness, land , infrastructure (roads and freight rail), responsible public spending, quick contract enforcement etc. They are stuck in a socialist/commie thinking with freebie based growth. By advertising that they are ahead of Pakshitstan, it should bring shame to them. TN has great potential and could have become the manufacturing paradise of India. Remember UT of puducherry is about the size of Singapore, and could have been made the Singapore of India. But Tamils in Singapore and Srilanka are also not doing well, business wise.
It all shows that TN leaders and people do not have the will or aspiration to become the next ASEAN tiger. It is as simple as that. Everything else is just noise and face saving talk. Lol.

The day Tamil people wake up and question why the f#$k are we not beating Vietnam and vote for a leadership that can help do that is the day TN can be proud.
If you want to get a true pic of export competitiveness, compare the exports to EU and US between Tamil Nadu and Vietnam. That way there is no "unfair" factor of selling to nearby countries vs states in the same country.
 

nongaddarliberal

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Vietnam per capita income is around $4400 (upper middle income) while TN is at $3200. Clearly means Vietnamese are well off than your average Tamil. I have looked at the TN urban areas and Vietnamese urban areas. Vietnam infrastructure is much better. Chennai should have developed like Hanoi now. But it has not. The Tamil guy’s argument is totally bogus. FDI into Vietnam is much much much higher than TN where FDI is not all that much. TN has all of the aspects of an ASEAN nation - port, education etc. What is lacking is progressive labor laws, business friendliness, land , infrastructure (roads and freight rail), responsible public spending, quick contract enforcement etc. They are stuck in a socialist/commie thinking with freebie based growth. By advertising that they are ahead of Pakshitstan, it should bring shame to them. TN has great potential and could have become the manufacturing paradise of India. Remember UT of puducherry is about the size of Singapore, and could have been made the Singapore of India. But Tamils in Singapore and Srilanka are also not doing well, business wise.
It all shows that TN leaders and people do not have the will or aspiration to become the next ASEAN tiger. It is as simple as that. Everything else is just noise and face saving talk. Lol.

The day Tamil people wake up and question why the f#$k are we not beating Vietnam and vote for a leadership that can help do that is the day TN can be proud.
It goes to the larger point of the South Indian states only being "advanced" when comparing to other Indian states, whereas they fall far short when comparing to ASEAN or Latin America.
 

jadoogar

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Who is the chief beneficiary of this "Remove Indian Generics from the West" campaign? I found one article that says China is #2 in this regard but nothing else, ofc this is mainly Gora Saheb punishing us for being a bad goy but still.

Considering Indian Pharma even big name ones like Ranbaxy, Lupin, Cipla have contaminated medicines and no QC, this has been going on since forever, so why a sudden media magnifying glass over these since the last 1-2 years?

Few months ago there were lot of stories of shortages of common medicines including antibiotics in the US. I do not know if the shortages have been resolved.
 
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RoaringTigerHiddenDragon

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Few months ago there were lot of stories of shortages of common medicines including antibiotics in the US. I do not know if the shortages have been resolved.
What I don’t get is you have good access to western markets which pay good price for your products. Why do you do all these audit failing things? Do they want to be kicked out?
Keeping a factory site very clean and sanitary is a basic thing. If you are not interested to even do that, why even be in the pharma business? Run a waste recycling business.
At the same time, this article maybe a hit job. Many things have been exaggerated and the statement that “India is behind China significantly “ is a dead giveaway that global pharmaceutical companies are writing a script against India’s generics markets.
 

Cheepek

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Posting it here as well, although this is about Chinese GDP, its really informative about for learning about economic models. Just listen first 7-8 minutes to get a rough idea of Chinese model.

Prof Pettis is an authority on Chinese economy, follow him closely and have learnt so much from him!
The other one is Yuen Yuen Ang, although she's not into economics but political science... has provided excellent insights on how the Chinese systems (bureaucracy et al) developed over the years.
 

indus

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I had this argument with a tamilian once his point was that Tamil nadu sells in India . Whereas Vietnam is "forced" to export since their consumption is so much smaller.. I did not have a counter to that.
Tamil Nadu sells it's products to other parts of India in Rupees while Vietnam exports in Dollars. If TN were to export to rest of India in Dollars its own Lemurian currency would be theoretically twentieth part of the rupee. So their exports would reduce in value while increase in volume. Net effect would be an overall loss to the state. Hence better comparison would be on per capita basis.
 

ezsasa

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I had this argument with a tamilian once his point was that Tamil nadu sells in India . Whereas Vietnam is "forced" to export since their consumption is so much smaller.. I did not have a counter to that.
over and above the consumption angle.

Vietnam cannot viewed in isolation when it comes to global trade, it is better to be viewed as China+ success story backed by U.S. the reasons their numbers look big is because of where their exports are going U.S, china, Japan, SK, HK. they import and add value and export them either as final product or part of final assembly in another country.

TN/India on the other hand is not fully plugged into such a ecosystem, not yet.
 

shade

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I had this argument with a tamilian once his point was that Tamil nadu sells in India . Whereas Vietnam is "forced" to export since their consumption is so much smaller.. I did not have a counter to that.
If they bothered to have a Vietnam like ecosystem with the relevant laws, infrastructure etc they would have better exports potential, as in exports would be more profitable than domestic market sales.

But then Stalin wants to do the bare minimum to chug along just like the other politicians.
It was comedy seeing him rollback that 12 hour, 3 days workweek law after rand-rona by 2rs commie allies and congressi :bplease:

Most of what these nibbas have is because of the port in Chennai, perhaps AP would also attract good investment if it wasn't for Jagan's image as an unstable clown.
 

another_armchair

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over and above the consumption angle.

Vietnam cannot viewed in isolation when it comes to global trade, it is better to be viewed as China+ success story backed by U.S. the reasons their numbers look big is because of where their exports are going U.S, china, Japan, SK, HK. they import and add value and export them either as final product or part of final assembly in another country.

TN/India on the other hand is not fully plugged into such a ecosystem, not yet.

If they were indeed an organic industry led export powerhouse like China, their Balance of Trade wouldn't fluctuate so much seasonally. Times when their BoT has gone into the negative. A little hard to accept at face value.

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1685862613804.png
 

ezsasa

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If they bothered to have a Vietnam like ecosystem with the relevant laws, infrastructure etc they would have better exports potential, as in exports would be more profitable than domestic market sales.

But then Stalin wants to do the bare minimum to chug along just like the other politicians.
It was comedy seeing him rollback that 12 hour, 3 days workweek law after rand-rona by 2rs commie allies and congressi :bplease:

Most of what these nibbas have is because of the port in Chennai, perhaps AP would also attract good investment if it wasn't for Jagan's image as an unstable clown.
TN has one of the highest per capita engineering worker talent pool in the country, of course others states are catching up in last 15 years or so.
what has happened and is happening in TN is not political in nature, may be some factor but not all of it.

what's happening in TN is more to do with lag in catching upto new industrial cycle, which they have started now.

i hope there is some non-political academic paper around which explains TN's current capacity and future potential.
 

ezsasa

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If they were indeed an organic industry led export powerhouse like China, their Balance of Trade wouldn't fluctuate so much seasonally. Times when their BoT has gone into the negative. A little hard to accept at face value.

View attachment 208747

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It's the opposite, vietnam is an inorganic business model, they are dependant on external factors. if the export number of china/japan/HK/SK to U.S/EU gets reduced, there will be a downstream impact for those product categories where vietnam is part of the supply chain. and also if vietnam exports to US/EU drop, there will be an impact on china numbers, but ofcourse it will be a small blip in china numbers.
 

ezsasa

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by the way when reliance were planning for jio in 2008, they also planned for dedicated helpline for families of their employees.
=======
Diamond tycoon from Gujarat. They don't teach this at Harvard.

 

shade

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Govt should avoid letting such a narrative be created that shows that private companies will not get their PLI gibs-me-dats inspite of meeting targets.


This is posted before, but I didn't realize they are literally going to manufacture the battery cells, I thought this was just an assembly plant, wonder who Tata's tech partner is, or did they make any acquisition of a lithium-ion cell manufacturing company recently anyone knows?


Ironic, Japan is a wealthy consumer market, pity we don't export well enough to them.


3 Taiwanese shoe-maker companies setting up plants in TN soon, they already have plants in Vietnam and Indonesia which account for 80% of their production, these companies make shoes for Nike, Adidas and Puma.

imo this is a very good opportunity, shoes are labour intensive i've heard
 

Concard

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Long post but I had to write this after being a frequent visitor to this forum..

I read this long back on how Dayanaidhi Maran during UPA used to visit IGI airport to receive foreign Investors visiting Delhi and ask them to consider TN and visit chennai before making a decision to visit in a diff state.

The story of CBN bringing ISB and Microsoft to Hyd is Interesting too. He booked a room in the same hotel where Bill gates was staying lobbied hard with his team to get a small window of appointment convinced him to set up shop in Hyd.

ISB was initially planned to be set up in Bang. CBN begged the team to visit Hyd for breakfast before flying to Bang and signing the MOU with KA govt. He received them at his house and sent them off walking up to their cars. When they went to Bang the team were kept waiting for hrs beyond the appointment time before the then KA CM could meet them. Pissed off the team on their way back to airport called CBN and informed him of the decision to set up ISB in Hyd.

Same thing is being followed by KTR. Stalin played a major role to bring Renault to chennai when Karunanodhi was CM.

For all the deficiencies of SI CM’s and politicians they played a major role to bring Investments to their states in Initial stages and the rest followed due to the existing ecosystem. When was the last time you saw a NI CM going this far for his state ? Despite this members here deride SI and their politicians saying all the development is due to access to Sea. You don’t need a sea port to build an IT park. Why did Lucknow or patna not grow to become a 2nd tier IT city ? Bubaneshwar does far better than Lucknow.

When was the last time Yogi took an initiative to go meet Investors. He still behaves as a mahant of a temple and expects that Investors would come running to him just bcz he built some expressways and tom toms about becoming a 1 Tr $ economy.
Building an IT park doesn't require much in the way of infrastructure like roads, railways or ports. All you need is land and access to electricity 24x7. When we say electricity we are not talking about in 100 MW, we are talking at the most max may be 1 MW for an entire park. This was far more easy than building necessary infrastructure and attracting manufacturing. South India was able to attract IT and investments for one simple reason, all the educational institutions and even National labs like NAL, DRDO, ISRO are all located in the South. Going forward the talent base was already there and with privatization of education in 1990's, many mediocre Engineering institutes popped up like mushrooms. These mediocre institutes churned out low quality engineers but their knowledge was more than enough to train them and put them in IT services support.

On the other hand, States like Gujarat and Maharashtra focused on manufacturing playing to their strengths of population. It is not wrong to say both these states flourished because of Mumbai. However, states in land like UP, Bihar + Jharkand, Rajasthan, Madhya Pradesh + Chattisgarh, Punjab were ravaged by Congress politics. Congress literally ruled these states for almost 35 years continuously and made absolutely no improvement in basic living standards. Even something as basic as sanitation could not be solved by bastards in Congress for 35 years. The rise of caste based parties did nothing other than continue the loot and gave them jungle raj. Take a look history of all the states mentioned and then ask yourself why would anyone invest in these states? South Indian states on the other hand had quite non performing governments with better law and order.

But there is one state which dropped the golden ball that is Bengal. These morons got everything on a platter after independence. They had lot of brilliant people. Then these morons elected communists and got fucked for over 35 years and now getting screwed by criminal cartel TMC. Bengal becoming a power house would have had a knock on effect on Bihar, Jharkhand and Odisha. But alas, Bengalis were in the delusion that they are the most advanced state and most enlightened in India.
 

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