India's exports up 13.47 percent in October,IT GROWTH RATE :12-14% IN FY14

[Han dominance]

India has far more corruption than China: Yes, definitely.

Indian stats are not 100% accurate: Yes, definitely

Indian stats are less reliable than Chinese stats: Lol, no.

Your 3rd point contradict your first two points.

If India has more corruption, that means Indian stats are less reliable.

 

[neehar]

We know we have corruption, but you know India has far worse corruption than China.

So as bad as it in China, it's only logical to assume India cooks its books far worse than we do.

India also has elections which means they will cook the books even worse than our local provinces in order to win elections.

I don't deny our stats are 100% accurate. If our stats are say 70% accurate, then Indian stats are only about 40% accurate.

If the Indian economy is growing so fast, how did it experience a massive currency collapse?
Growing economies have strong currencies, only shrinking economies have collapsing currencies like Iran, Argentina, Zimbabwe.

Since India was supposedly growing at 8% for 10 years but had a currency collapse, it makes people wonder whether these Indian growth figures were just made up.

I'm highly skeptical of all countries economic numbers but I'm far more skeptical of Indian figures. Indians have a bad habit of boasting so these 8% growth figures could be just another case of boasting.

i'm glad that u accepted that china inflates its numbers.as i said if india does so our growth rate must be over 7% per annum.u must know that the value of currencies is not entirely a function of internal factors.many external factors also affect it and indian rupee increased from 56 to 68 previously based on the decisions taken by the federal bank of u.s.a but it has increased to about 61 now and is further strengthening.

secondly gdp is the measure of all the net value of assets created services rendered across the border so even if the rupee value decreases the apparent value might decrease but the net wont.because we wont use all our money to trade our forex contains $300 billion dollars roughly we trade with the outside world only with these..we have a CAG who breaths on the neck of govt.he is independent and has special authority bestowed upon him by the president of india.govts can not intimidate him.we have many laws like right to information by which we can DEMAND information by the govt unless its related to national security.we have many institutions here to check on the govt and media is the most notorious..and we dont ban media organizations here if they write against govt.sone wrong step and the govt is in deep trouble here.and we have the corborate bodies like nasscom and others who will be watching these numbers closely they know their performance and they can evaluate the results.
its not easy to cook figures in india.

 

[Han dominance]

i'm glad that u accepted that china inflates its numbers.as i said if india does so our growth rate must be over 7% per annum.u must know that the value of currencies is not entirely a function of internal factors.many external factors also affect it and indian rupee increased from 56 to 68 previously based on the decisions taken by the federal bank of u.s.a but it has increased to about 61 now and is further strengthening.

secondly gdp is the measure of all the net value of assets created services rendered across the border so even if the rupee value decreases the apparent value might decrease but the net wont.because we wont use all our money to trade our forex contains $300 billion dollars roughly we trade with the outside world only with these..we have a CAG who breaths on the neck of govt.he is independent and has special authority bestowed upon him by the president of india.govts can not intimidate him.we have many laws like right to information by which we can DEMAND information by the govt unless its related to national security.we have many institutions here to check on the govt and media is the most notorious..and we dont ban media organizations here if they write against govt.sone wrong step and the govt is in deep trouble here.and we have the corborate bodies like nasscom and others who will be watching these numbers closely they know their performance and they can evaluate the results.
its not easy to cook figures in india.

I think Indian economy is overstated by 30-40% by falsified stats.

The reason the Rupee collapsed is due to the weak fundamentals of the Indian economy. India has no industrial base to support its growth. Indian service exports cannot cover the gap from goods imports, which means India runs a currency account deficit (CAD). To shore up this CAD, India needs hot money to fill the deficits.
India loses money on its economy. Since it has CAD, the GDP growth is not really growth, it's debt and inflation that gives the illusion of growth.

This is why the Rupee is a horrible currency. The entire Indian growth story has been based on debt based consumption. That is going into debt to consume depreciating consumer goods that has no future return for the economy.

Most of the consumer goods Indians buy are imported (mostly from China). In order to run this debt based consumption economy, India runs CAD. Running CAD without having a reserve currency means the currency comes under pressure as you cannot print money and export your inflation. This is why the Rupee collapsed. It fluctuates based on the QE by the Fed. This shows Indian fundamentals are dreadful and only survives on hot money inflows. This means the Indian growth figures given by the Indian government are grossly overstated.

There is just no way a country that truly grows 8% but experiences a currency collapse.

Indian political system is a breeding ground for corruption as winning elections means you need to falsify stats to look good when reelection comes. This is why the Indian stats should be taken with a grain of salt.

India is one of the most corrupt countries in the world so Indians stats are automatically produced by corrupt officials.

A currency performance is a barometer to the health of an economy. Rupee has been falling since the early 40's to the dollar few years ago. But India has reported 8% growth rates. A collapsed currency is a give away that the economy is shrinking. This just proves Indian growth stats have been falsified.

Considering the scale of the Rupee collapse, I would say the Indian economy has been in a recession for many years now. This is why the Indian economy is overstated by 30-40%.

 

[OrionHunter]

So what's the big deal? You can have a 100% growth in exports if you devalue the Rupee. Just let it slide to Rs150 to a dollar and see the growth rate explode to unheard of levels.

But that's just a mirage as the quantity of exports have actually fallen!!!! It's all about the $-Rs conversion rates.

 

[Echo_419]

Why get emotional? Was just asking a question.

No mr High IQ
How can I a Sub human,low IQ get Emotional

Only high IQ Han can get emotional
All HAIL HAN
TU MAAN YA NA MAAN HAN HAI MAHAN

 

[Brahmos_2]

Can we trust the numbers coming out of India?

Much reliable than the chinese.....

 

[Chinese-Dragon]

Much reliable than the chinese.....

So why does China have a much better credit rating than India?

Why does China get so much more FDI than India?

Those global banks and global investors made a choice to come to China instead of India.

 

[faithfulguy]

So why does China have a much better credit rating than India?

Why does China get so much more FDI than India?

Those global banks and global investors made a choice to come to China instead of India.

There was a reason that India's currency was dropping against the dollar. The investors must know the actual state of Indian economy. Its good that India do not have a free floating currency. Otherwise, guys like Soros would had made a major killing with Rupee.

So all these arguments about who make up more numbers are therefore useless. Let the currently investors speak for themselves in the actual market.

 

[neehar]

I think Indian economy is overstated by 30-40% by falsified stats.

The reason the Rupee collapsed is due to the weak fundamentals of the Indian economy. India has no industrial base to support its growth. Indian service exports cannot cover the gap from goods imports, which means India runs a currency account deficit (CAD). To shore up this CAD, India needs hot money to fill the deficits.
India loses money on its economy. Since it has CAD, the GDP growth is not really growth, it's debt and inflation that gives the illusion of growth.

This is why the Rupee is a horrible currency. The entire Indian growth story has been based on debt based consumption. That is going into debt to consume depreciating consumer goods that has no future return for the economy.

Most of the consumer goods Indians buy are imported (mostly from China). In order to run this debt based consumption economy, India runs CAD. Running CAD without having a reserve currency means the currency comes under pressure as you cannot print money and export your inflation. This is why the Rupee collapsed. It fluctuates based on the QE by the Fed. This shows Indian fundamentals are dreadful and only survives on hot money inflows. This means the Indian growth figures given by the Indian government are grossly overstated.

There is just no way a country that truly grows 8% but experiences a currency collapse.

Indian political system is a breeding ground for corruption as winning elections means you need to falsify stats to look good when reelection comes. This is why the Indian stats should be taken with a grain of salt.

India is one of the most corrupt countries in the world so Indians stats are automatically produced by corrupt officials.

A currency performance is a barometer to the health of an economy. Rupee has been falling since the early 40's to the dollar few years ago. But India has reported 8% growth rates. A collapsed currency is a give away that the economy is shrinking. This just proves Indian growth stats have been falsified.

Considering the scale of the Rupee collapse, I would say the Indian economy has been in a recession for many years now. This is why the Indian economy is overstated by 30-40%.

well let me not explain all the economics to u.im not here obviously for that.gdp doesnt depend on currency alone.if a new mine is identified and production is started on it the value will be added in gdp similarly agriculture.CAD is just a measure of trade.but a country adds value from alot other means.india gets the highest remittances.last year is about 70 billion dollars.current CAD is about 20 billion dollars and thats a deficit in our forex reserves of 300 billion dollar reserves.our primary sector growth is about 4% , and about nearly 10% in tertiary sector.and the growth rate in secondary sector is low which is why our overall gdp growth rate pulled behind.just because china depends its growth on manufacturing sector doesnt mean that we should be on the same path.our growth model is based on services primarily.as per the value of rupee there are two types of investors FII and FDI ..FII are temporary and small scale investors mostly in commodities trading.these fii s when find an alternative destination which may yield results temporarily they shift their investments temporarily which is why the rupee devalued to 68 a dollar and the same reason it regained to 61 today.as i said its not a measure of gdp growth rate.japanese yen is nearly a hundred a dollar so do u mean they are less developed than india??

infact the lesser value of rupee is going to become a boon to us.lesser the value of our rupee more will we get on exports precisely why ur govt intentionally deflates its currency by buying u.s bonds.which is why our trade deficit decreased from 37 billion dollars to 20 billion dollars.if this continues with in two years india will be a trade surplus nation..now if u still think that our numbers are in genuine then i suggest u to read this

http://indiabudget.nic.in/es2012-13/echap-01.pdf

our govt releases annual financial statement to its citizens for people like u.i dont know whether ur govt does this..but this has a chronology of our gdps and growth rates heres more
UNION BUDGET & ECONOMIC SURVEY

before jumping to conclusions i suggest u study the fundamentals of economics and the above documents and ur welcome to tell which numbers are inflated.prove it and i'll thank u and myself file a case on my govt for misleading the people.comprende??

 

[neehar]

So why does China have a much better credit rating than India?

Why does China get so much more FDI than India?

Those global banks and global investors made a choice to come to China instead of India.

several reasons for that.the rating depends on factors like the stability of govt,easy to start a business,local laws,transparency etc. etc.china is not a democracy and they do not have the fear of unstability as the govts dont change.india is a democracy and its strength depends on the number of legislators it got.current govt do not have a great majority and people are vexed with them and we're going to see a regime change next year.investors love stability and this is a testimony for that.
The November 5 report of the Goldman Sachs said, "BJP-led National Democratic Alliance (NDA) could prevail in the next Parliamentary elections that are due by May 2014. Equity investors tend to view the BJP as business-friendly, and the BJP's prime ministerial candidate Narendra Modi as an agent of change."
Goldman Sachs predicts Narendra Modi’s victory in 2014; Govt says ‘report objectionable’

so compared to an autocracy investors see a lot more in a democracy.second important one is the ease to start the business india has a lot of red tapism than china which needs political will to be rectified but the most important reason is land acquisition in india is much difficult than in china.here people are primarily agrarian and they are sentimental on them they dont view them as mere lands.further issue gets complicated in the case of tribals who are naive and cannot live outside their territory..lakhs of crores left india because of this.in china its not much of a problem.but here govts are elected and a small mistake changes the regimes.govt has recently brought an ordinance on land acquisition and rehabilitation bill.hope it reduces our troubles to some extent .this is the proof of my claim.
The New Quit India Movement: How Posco, Arcelor-Mittal are pulling out while India pleads for investment : Corporate, News - India Today
The New Land Acquisition Act to come into effect from 2014 - Economic Times
Court directs gram sabhas to take a call on Vedanta’s mining project - The Hindu
those 30 tribals refused $1.7 billion vedanta project in their territory as they believe that their godess dwells in those forests and its sacred to them.this is india dont compare it with china.we have unique problems.and we have to find out unique solutions.it doesnt matter things move slow here.ur thinking the this is the end of the race looking at the past 6 decades.but let me remind you the race is not finished what i 60 years in the life of a nation.united states took more than 200 years for the u.s to reach what it is today.who knows what will be our situation after 200 years from now??so hold on to ur horses and just wait.

 

[Han dominance]

well let me not explain all the economics to u.im not here obviously for that.gdp doesnt depend on currency alone.if a new mine is identified and production is started on it the value will be added in gdp similarly agriculture.CAD is just a measure of trade.but a country adds value from alot other means.india gets the highest remittances.last year is about 70 billion dollars.current CAD is about 20 billion dollars and thats a deficit in our forex reserves of 300 billion dollar reserves.our primary sector growth is about 4% , and about nearly 10% in tertiary sector.and the growth rate in secondary sector is low which is why our overall gdp growth rate pulled behind.just because china depends its growth on manufacturing sector doesnt mean that we should be on the same path.our growth model is based on services primarily.as per the value of rupee there are two types of investors FII and FDI ..FII are temporary and small scale investors mostly in commodities trading.these fii s when find an alternative destination which may yield results temporarily they shift their investments temporarily which is why the rupee devalued to 68 a dollar and the same reason it regained to 61 today.as i said its not a measure of gdp growth rate.japanese yen is nearly a hundred a dollar so do u mean they are less developed than india??

infact the lesser value of rupee is going to become a boon to us.lesser the value of our rupee more will we get on exports precisely why ur govt intentionally deflates its currency by buying u.s bonds.which is why our trade deficit decreased from 37 billion dollars to 20 billion dollars.if this continues with in two years india will be a trade surplus nation..now if u still think that our numbers are in genuine then i suggest u to read this

http://indiabudget.nic.in/es2012-13/echap-01.pdf

our govt releases annual financial statement to its citizens for people like u.i dont know whether ur govt does this..but this has a chronology of our gdps and growth rates heres more
UNION BUDGET & ECONOMIC SURVEY

before jumping to conclusions i suggest u study the fundamentals of economics and the above documents and ur welcome to tell which numbers are inflated.prove it and i'll thank u and myself file a case on my govt for misleading the people.comprende??

You clearly do not understand the relationship between fundamental growth and its relationship with currency strength. Your economic knowledge is extremely limited.

A country with strong fundamentals that run current account surplus (CAS) automatically correlates to a strong currency. A strong currency is the final goal of any economy as it increases purchasing power of the people and increases living standards by brining costs down.

Any country can weaken its currency. All 3rd world countries have weak currencies. The goal is to legitimately grow the economy by running CAS which allows the currency to appreciate.

India does not have this. This is why Indian growth is fictitious. The Indian economy is a fundamentally weak economy that has no manufacturing base to support its CA. This means all the growth India reports is fictitious. Manufacturing is the heart of any economy because you need goods to run an economy, and you have to import those goods unless you can meet them through domestic production. When you have CAD, your currency weakens to reflect the weak fundamentals. This is why the Rupee collapsed.

The fact that India's main source of growth is remittances shows how pathetic the Indian economy truly is. It shows India has no other way to grow it's economy other than getting money from NRIs.

Japan devalued its currency on purpose. But Japan now runs trade deficit as its import costs rise faster than it can gain through higher exports. Why does it import more? Because since its currency is weaker, it has to pay more Yen to buy less things such as oil and other raw materials. With a weak currency, you buy less but pay more. The cost of production has gone up which makes manufacturing harder as inflation moves into the production process overtime and inputs costs rise causing producers to cut back. This is happening in India too.

The Indian economy is shrinking in dollar terms every year because what India considers as 'growth' in Rupee terms is inflation. India counts inflation as growth.

A growing economy has to increase its dollar value since every country operates in a global economy. A country could 'grow' 1000% in domestic currency but will not mean it will grow in dollar terms which is what matters.

This is why India has not been growing as its reflected in the Rupee collapse. A collapsing currency is not the sign of a growing economy.
Indian services contribute to growth but it doesn't grow fast enough to make up for the shrinkage you experience in trade. It's the overall sectors net contribution that matter in an economy. Services sector is just a part of the overall equation. India runs service trade surplus but goods trade deficit, which means its service surpluses is not enough to make up the gap in goods deficit which leads to an overall decline in growth.
This decline is reflected in a weak currency as India has.

This is why when India says its growing, it's a lie. You don't grow when you have a currency collapse. India is still a debtor nation where it's net international investment position is negative. How can a poor country like India have worsening NIIP every year and say its a growing economy? Just defies logic!

India has been falsifying its stats to show growth but it got exposed as lies because the Rupee collapsed. India counts inflation as so-called growth.

Just in economic analysis alone you can tell India is lying about its growth figures.

Understand my points instead of ranting like a fool.

 

[neehar]

You clearly do not understand the relationship between fundamental growth and its relationship with currency strength. Your economic knowledge is extremely limited.

A country with strong fundamentals that run current account surplus (CAS) automatically correlates to a strong currency. A strong currency is the final goal of any economy as it increases purchasing power of the people and increases living standards by brining costs down.

Any country can weaken its currency. All 3rd world countries have weak currencies. The goal is to legitimately grow the economy by running CAS which allows the currency to appreciate.

India does not have this. This is why Indian growth is fictitious. The Indian economy is a fundamentally weak economy that has no manufacturing base to support its CA. This means all the growth India reports is fictitious. Manufacturing is the heart of any economy because you need goods to run an economy, and you have to import those goods unless you can meet them through domestic production. When you have CAD, your currency weakens to reflect the weak fundamentals. This is why the Rupee collapsed.

The fact that India's main source of growth is remittances shows how pathetic the Indian economy truly is. It shows India has no other way to grow it's economy other than getting money from NRIs.

Japan devalued its currency on purpose. But Japan now runs trade deficit as its import costs rise faster than it can gain through higher exports. Why does it import more? Because since its currency is weaker, it has to pay more Yen to buy less things such as oil and other raw materials. With a weak currency, you buy less but pay more. The cost of production has gone up which makes manufacturing harder as inflation moves into the production process overtime and inputs costs rise causing producers to cut back. This is happening in India too.

The Indian economy is shrinking in dollar terms every year because what India considers as 'growth' in Rupee terms is inflation. India counts inflation as growth.

A growing economy has to increase its dollar value since every country operates in a global economy. A country could 'grow' 1000% in domestic currency but will not mean it will grow in dollar terms which is what matters.

This is why India has not been growing as its reflected in the Rupee collapse. A collapsing currency is not the sign of a growing economy.
Indian services contribute to growth but it doesn't grow fast enough to make up for the shrinkage you experience in trade. It's the overall sectors net contribution that matter in an economy. Services sector is just a part of the overall equation. India runs service trade surplus but goods trade deficit, which means its service surpluses is not enough to make up the gap in goods deficit which leads to an overall decline in growth.
This decline is reflected in a weak currency as India has.

This is why when India says its growing, it's a lie. You don't grow when you have a currency collapse. India is still a debtor nation where it's net international investment position is negative. How can a poor country like India have worsening NIIP every year and say its a growing economy? Just defies logic!

India has been falsifying its stats to show growth but it got exposed as lies because the Rupee collapsed. India counts inflation as so-called growth.

Just in economic analysis alone you can tell India is lying about its growth figures.

Understand my points instead of ranting like a fool.

yeah right.ur govt try to artificially devaluate ur currency and u declared that countries want stronger currency and ur saying that i'm ranting like a fool??why doesnt it doesnt hit ur head that gdp growth rate do not ONLY depend on trade and investment??IT services do not grow fast enough??and u decided it for a fact!! i suppose ur more knowledgeble than nasscom who are no where related to govt and doing business here.as far as rupee is concerned its fine till 2011 and it started to decrease only after 2011 during the eurozone crisis started to show effects.and our growth rate till then was fine.did u even bothered to see the links i've sent u??those are official govt links.with out looking at the links.with out knowing economics.u r just farting.as i said go through the document and prove what did they claimed false if u can.do not just blabber shit here . theres every info right from trade to finances.read the documents before quoting me

 

[HariPrasad]

We know we have corruption, but you know India has far worse corruption than China.

So as bad as it in China, it's only logical to assume India cooks its books far worse than we do.

India also has elections which means they will cook the books even worse than our local provinces in order to win elections.

I don't deny our stats are 100% accurate. If our stats are say 70% accurate, then Indian stats are only about 40% accurate.

If the Indian economy is growing so fast, how did it experience a massive currency collapse?
Growing economies have strong currencies, only shrinking economies have collapsing currencies like Iran, Argentina, Zimbabwe.

Since India was supposedly growing at 8% for 10 years but had a currency collapse, it makes people wonder whether these Indian growth figures were just made up.

I'm highly skeptical of all countries economic numbers but I'm far more skeptical of Indian figures. Indians have a bad habit of boasting so these 8% growth figures could be just another case of boasting.

You are wrong Man.

We have the the corruption but we have the freedom and guts to fight corruption. We are not slave of any particular totalitarian regime.

And keep your 40%, 70% nonsense with you. It is not worth replying. Our figure are not like yours. It is calculated as per the most stringent international standards as we have transparency. Any one can get any information by just paying Rs 10 into Government.

 

[cirr]

I hear that the Indian rupee is again dropping like a stone vs the dollar。

True or false？