Indian Economy: News and Discussion

[sauntheninja]

 

[FalconSlayers]

Apple CEO Tim Cook on "low manufacturing wage" in China:

"The popular conception is that companies come to China because of low labor costs.

I'm not sure what part of China they go to, but the China stopped being the low labor cost country years ago.

That is not the reason to come to China from a supply point of view.

The reason is because of the skill."

True, something similar Capegemeni's CEO said a few weeks back.

People come to India for its talent, not to cut costs: Capgemini global CEO Aiman Ezzat

Aiman Ezzat during his ongoing India visit, said that he is hopeful of the demand situation improving over the next two-to-four quarters but is waiting for an inflection point.

m.economictimes.com

People should remember it's the skills that matter not the cost of production, else South Sudan would've been booming with industries.

 

[warriorextreme]

True, something similar Capegemeni's CEO said a few weeks back.

People come to India for its talent, not to cut costs: Capgemini global CEO Aiman Ezzat

Aiman Ezzat during his ongoing India visit, said that he is hopeful of the demand situation improving over the next two-to-four quarters but is waiting for an inflection point.

m.economictimes.com

People should remember it's the skills that matter not the cost of production, else South Sudan would've been booming with industries.

Yes. The reason for Services exports growth is that apart from software there are multiple other areas where global companies are exporting their IT and non IT operations. That is mainly because of talent that is available here which is very rarely found in other competing countries.

That being said the cost will act as a deciding factor later as our economy grows and cost escalates while other competing countries catch up in terms of talent.

This is why many companies in these sectors have already started to reduce costs e.g. hybrid work model has allowed many companies to reduce their real estate rental expenses, transport expenses, food expenses etc.

 

[sauntheninja]

Yes. The reason for Services exports growth is that apart from software there are multiple other areas where global companies are exporting their IT and non IT operations. That is mainly because of talent that is available here which is very rarely found in other competing countries.

That being said the cost will act as a deciding factor later as our economy grows and cost escalates while other competing countries catch up in terms of talent.

This is why many companies in these sectors have already started to reduce costs e.g. hybrid work model has allowed many companies to reduce their real estate rental expenses, transport expenses, food expenses etc.

All the companies are asking employees to return to office. Can't let those expensive glass building empty

 

[warriorextreme]

All the companies are asking employees to return to office. Can't let those expensive glass building empty

Those are companies that have built their own offices e.g. TCS. Those that have leased office spaces have reduced their leased space by half and in some cases by 75%.

My company reduced the leased space by half and we have no plans to increase leased space (Also there is no option to do that as the floors that were let go have already been occupied by other companies for long term lease).

In my professional circle I have friends who have joined some GCCs that have no offices at all at the moment so they have 100% work from home.

 

[RoaringTigerHiddenDragon]

Karnataka going down the tube already. Congis back to their freebie nonsense. There should be a constitutional ban on unfounded freebies. There should be a rule like freebie guarantees cannot be more than 5% of budget.

Karnataka Cong faces challenge as development stalls for freebies

Bengaluru: Karnataka Congress government which is all set to announce five guarantee schemes promised during elections is facing paucity of funds for the

www.siasat.com

 

[Blademaster]

Karnataka going down the tube already. Congis back to their freebie nonsense. There should be a constitutional ban on unfounded freebies. There should be a rule like freebie guarantees cannot be more than 5% of budget.

Karnataka Cong faces challenge as development stalls for freebies

Bengaluru: Karnataka Congress government which is all set to announce five guarantee schemes promised during elections is facing paucity of funds for the

www.siasat.com

There’s a comment from that CM that completely shows how retarded he is.

When we are spending Rs 56,000 crore as interest every year, can’t we spend Rs 50,000 crore on our people,” he wondered.

Listen dumbass. You are paying interest because you took out loans in the past to pay for welfare schemes. If you don’t pay interest no one is gonna lend you jackshit. And if you are so bothered about paying interests then maybe you shouldn’t have engaged in welfare schemes that necessitated the borrowing in the first place.

 

[RoaringTigerHiddenDragon]

There’s a comment from that CM that completely shows how retarded he is.



Listen dumbass. You are paying interest because you took out loans in the past to pay for welfare schemes. If you don’t pay interest no one is gonna lend you jackshit. And if you are so bothered about paying interests then maybe you shouldn’t have engaged in welfare schemes that necessitated the borrowing in the first place.

That is right. Taking loans for capital expenditures like BJP did is different from taking loans for freebies. Thisis exactly what will happen if Congi coalition is elected to power at the center - each and every development project will stall as the crazy Congis babus focus on how to divert financing from infrastructure projects to freebies. Note how stupid siddhu says things like we will stop wasteful expenditure - a dead giveaway that he will cut capex funding on infrastructure development. Congis are going to setback Karnatak’s development by years.
I would say declare Bengaluru Metro as UT at least so the city infrastructure can be fixed and made world class.

 

[Concard]

True, something similar Capegemeni's CEO said a few weeks back.

People come to India for its talent, not to cut costs: Capgemini global CEO Aiman Ezzat

Aiman Ezzat during his ongoing India visit, said that he is hopeful of the demand situation improving over the next two-to-four quarters but is waiting for an inflection point.

m.economictimes.com

People should remember it's the skills that matter not the cost of production, else South Sudan would've been booming with industries.

Well not exactly always, if there are 2 countries with similar skill set and market size then a company X will always go with a country with lower costs. It is as simple as that. Remember how Philippines was supposed to become next BPO center stealing that business from India? Did that happen? Yes, only to a very small extent. Because salaries in Philippines was slightly higher and their market isn't as big as India. The scale India provides is far more than what Philippines has. And this is why I am not worried about companies going to Vietnam for setting up manufacturing plants. Eventually they will have to do the same in India to get the scale and get access to Indian market.

 

[another_armchair]

Karnataka going down the tube already. Congis back to their freebie nonsense. There should be a constitutional ban on unfounded freebies. There should be a rule like freebie guarantees cannot be more than 5% of budget.

Karnataka Cong faces challenge as development stalls for freebies

Bengaluru: Karnataka Congress government which is all set to announce five guarantee schemes promised during elections is facing paucity of funds for the

www.siasat.com

Land guidance value was raised yesterday by an average of 15-25% across urban areas and farmland also witnessed a hike.

Nandini milk quality has gone to the shitter after a price hike of Rs. 5 per litre. So much water that a third turns to ice if left in the freezer overnight.

Vote for Congress, Vote for open loot.

Wish freeloading caste conscious Hindus would understand.

 

[Shuturmurg]

Karnataka going down the tube already. Congis back to their freebie nonsense. There should be a constitutional ban on unfounded freebies. There should be a rule like freebie guarantees cannot be more than 5% of budget.

Karnataka Cong faces challenge as development stalls for freebies

Bengaluru: Karnataka Congress government which is all set to announce five guarantee schemes promised during elections is facing paucity of funds for the

www.siasat.com

I never expected such article in "Siasat". Its an Urdu new paper mostly run by left wing muslims. The founding guy was part of Soviet influence ops in India and to their credit this Muslim paper opposed Hindu Mahasabha, MIM (Owaisi party) and Akalis since these are religion based parties.

 

[ezsasa]

Do you think anybody in India cares about that? The Netas and Babus live in a world of their own. Their children are more often well settled in the US and West with fancy Ivy league education.

this was probably true during pre-economic liberalisation and planning commission days.

the whole point of economic liberalisation is to diversify stake holders from babus to industry. in other words, policy decisions is largely a stake holder management exercise, in economy related matters the majority stake holders are the industry.

 

[sauntheninja]

Land guidance value was raised yesterday by an average of 15-25% across urban areas and farmland also witnessed a hike.

Nandini milk quality has gone to the shitter after a price hike of Rs. 5 per litre. So much water that a third turns to ice if left in the freezer overnight.

Vote for Congress, Vote for open loot.

Wish freeloading caste conscious Hindus would understand.

During BJP bangalore was a utopia?

 

[RoaringTigerHiddenDragon]

Land guidance value was raised yesterday by an average of 15-25% across urban areas and farmland also witnessed a hike.

Nandini milk quality has gone to the shitter after a price hike of Rs. 5 per litre. So much water that a third turns to ice if left in the freezer overnight.

Vote for Congress, Vote for open loot.

Wish freeloading caste conscious Hindus would understand.

I feel like it maybe the beginning of IT and Biotech companies exodus to Hyderabad where infra is so much better for similar or even less land costs as Bengaluru. Trying to use Bengaluru as cash cow for financing freebies in rest of KA. We all know where this is going to end up. Bengaluru already has massive infrastructure deficit - it is going to only get worse as additional property taxes are diverted for these freebies.

The fools don’t realize that this below is going to happen many more times.

Day after bandh, Bengaluru hit by massive traffic jam

www.deccanherald.com

 

[Suryavanshi]

During BJP bangalore was a utopia?

You tell me

 

[RoaringTigerHiddenDragon]

During BJP bangalore was a utopia?

Yes. Massive extensions in metro trains. More massive IT parks with thousands of jobs. Bengaluru-Mysuru express highway. Bengaluru-Chennai expressway. STRR gained momentum massively. BLR Terminal expansion.
‘But also, not enough investment into urban improvements within bengaluru. But the blame there goes to bengaluru people as well who resist urban redevelopment projects everywhere. They don’t understand that wide city roads and high rises are needed to balance population growth and need for space to do business.
‘Bengaluru voted overwhelmingly for BJP. That would not happen if urban people were pissed off with BJP. BJP lost from RoKA, not BLR.

 

[RoaringTigerHiddenDragon]

More Congi tamasha in BLR. Instead of finding ways to make car pooling services compete fairly, they ban the entire services. Anti-innovation, anti-entrepreneurs, anti-development - that is what these Congis will ever be. All this happening when BLR has significant traffic issues. SMH.

Bizarre Ban On Carpooling In Bengaluru: Government Arm-Twisted By Taxi Unions? - India Infra Hub

Less than a week after Bengaluru suffered through a notorious traffic jam, the state government appears to have exacerbated citizen’s woes by prohibiting carpooling. Even as Bengaluru continues its deliberations on the unusual traffic congestion on ORR that occurred last Wednesday, the Karnataka...

indiainfrahub.com

 

[sauntheninja]

Yes. Massive extensions in metro trains. More massive IT parks with thousands of jobs. Bengaluru-Mysuru express highway. Bengaluru-Chennai expressway. STRR gained momentum massively. BLR Terminal expansion.
‘But also, not enough investment into urban improvements within bengaluru. But the blame there goes to bengaluru people as well who resist urban redevelopment projects everywhere. They don’t understand that wide city roads and high rises are needed to balance population growth and need for space to do business.
‘Bengaluru voted overwhelmingly for BJP. That would not happen if urban people were pissed off with BJP. BJP lost from RoKA, not BLR.

Bangalore is a money printing machine that no matter which party will absolutely milk. Bangalore has the highest paying jobs in the country and the urban folk of Bangalore don't care because they are making a lot of money. I know this because I have relatives in Bangalore who are making lakhs per month and don't care about the infrastructure because they are either working from home or have a home close to the office

 

[RoaringTigerHiddenDragon]

Bangalore is a money printing machine that no matter which party will absolutely milk. Bangalore has the highest paying jobs in the country and the urban folk of Bangalore don't care because they are making a lot of money. I know this because I have relatives in Bangalore who are making lakhs per month and don't care about the infrastructure because they are either working from home or have a home close to the office

So Congis who are supposed to be for the common man are going to make it worse by making them stuck in long distance commute and paying for petrol even more, while the knowledge workers just live in expensive areas next to their office parks? Looks like Congis are anti-poor as well. So are they only pro-scams?

 

[sauntheninja]

So Congis who are supposed to be for the common man are going to make it worse by making them stuck in long distance commute and paying for petrol even more, while the knowledge workers just live in expensive areas next to their office parks? Looks like Congis are anti-poor as well. So are they only pro-scams?

Even for people living near offices near ORR their homes worth crores got flooded the point is no party will ever fix Bangalore because it's very profitable not to.