'Indian economy expected to reach $ 6 trillion by 2020'

[President Camacho]

None of that will be exported to Switzerland.

The exported part (general term: black money) is never included, which currently stands higher than India's GDP. But indeed, the Oligarchs will comprise the biggest chunk of this 'yet to be generated' money. All the big cities have on an average 1000 USD billionaires. Out of the cities, India is same it was 15 years ago.

 

[tanlixiang28776]

None of that will be exported to Switzerland.

The exported part (general term: black money) is never included, which currently stands higher than India's GDP. But indeed, the Oligarchs will comprise the biggest chunk of this 'yet to be generated' money. All the big cities have on an average 1000 USD billionaires. Out of the cities, India is same it was 15 years ago.

A bit of a hyperbole perhaps or do you honestly believe that.

 

[GodlessBastard]

A bit of a hyperbole perhaps or do you honestly believe that.

It's no hyperbole. There's literally over a trillion dollars in Indian black money that's sitting outside the country.

 

[CardSharp]

Stronger RMB makes China's GDP in USD a bit higher.

If we take the GDP in RMB currency, then we had 8 trillion yuan back in 2000, and 40 trillion yuan in 2010. The five times difference means even if RMB didn't appreciate from 2000, today's Chinese GDP would still be around 5 trillion.

I don't know much the currency trend of the Rupee, if they don't have a strong appreciation trend, maybe it gonna be less than 6 trillion by 2020.

I think the INR is on a partial float, and it's holding steady at around 45 INR to 1 USD. Could be wrong.

----------------------1996 2000 2004 2006 2009 2010
U.S. dollar USD 35.444 44.952 45.340 43.954 48.76112 45.3354


I personally think that India is not going to hit the 9% mark for at least this year (most banks are predicting 8.0-8.5 range). There is too much on the governments plate right now. They need to cut subsidies and open up the country more to FDI but there isn't the political will yet to push through alot of what is needed.

 

[tanlixiang28776]

It's no hyperbole. There's literally over a trillion dollars in Indian black money that's sitting outside the country.

Sorry I meant the 1000 billionaires in each major city.

 

[below_freezing]

None of that will be exported to Switzerland.

The exported part (general term: black money) is never included, which currently stands higher than India's GDP. But indeed, the Oligarchs will comprise the biggest chunk of this 'yet to be generated' money. All the big cities have on an average 1000 USD billionaires. Out of the cities, India is same it was 15 years ago.

A tragedy of all non socialist developing economies is the creation of oligarchs. Unfortunately, once created, these oligarchs will use their existing wealth to further increase their wealth.

 

[ares]

I think the INR is on a partial float, and it's holding steady at around 45 INR to 1 USD. Could be wrong.

----------------------1996 2000 2004 2006 2009 2010
U.S. dollar USD 35.444 44.952 45.340 43.954 48.76112 45.3354


I personally think that India is not going to hit the 9% mark for at least this year (most banks are predicting 8.0-8.5 range). There is too much on the governments plate right now. They need to cut subsidies and open up the country more to FDI but there isn't the political will yet to push through alot of what is needed.

GOI is predicting 8.75% -9.25% this yr ..just like they predicted 8.5% for last yr(and achieved 8.6%).

 

[President Camacho]

Yes, I am familiar with the Lorenz curve, and do not know how relevant it is here. But I do hope it holds true for India as well.

Only problem is, I always go with case by case method, and India's case is a bit peculiar. Apart from very few exceptions (excuse the redundancy, but they are exceptional) the market has been completely tapped by the same people that made hay when Indira shone.

I have been seeing the same trend even today on every level, in every market, every nook and corner in India. The opening of the market took place 20 years ago, and the gap is still in its accelerated mode.

 

[President Camacho]

I am accounting the capital held by individuals, taxed, as well as hidden. The number I stated may be even smaller than reality. I myself know over 100 individuals spread across the same city who hold over INR 50 Billion, that roughly translates to $ 1 B. I reached that particular number because I know what businesses they do, and how they do it, and what community they help constitute to exert the right amount of pressure and ensure the desired gains.

 

[President Camacho]

A tragedy of all non socialist developing economies is the creation of oligarchs. Unfortunately, once created, these oligarchs will use their existing wealth to further increase their wealth.

No, the oligarchs, or any competitive entity, would not use the existing wealth or power to increase its wealth. They all use/exert their power to keep the relative wealth/power higher than others.

If there are 5 dollars, I get 3, you get 2, I have 1.5 times purchasing power than you have.
But if I manage have your 2 dollars canceled with 2 of mine, then I may be 2 dollars poor, but still have infinite greater purchasing power than you.
That's exactly what the big businesses did during License Raj in India. Today too, things are not much different.

 

[CardSharp]

Apart from very few exceptions (excuse the redundancy, but they are exceptional) the market has been completely tapped by the same people that made hay when Indira shone.

You mean the people that did business during the license raj? Using political favours etc?

 

[Whiplash]

These threads piss me off. On one hand we talk of a 6 trillion dollar economy, and on the other hand 30% poverty.
Metros and monorails are coming up in every city. And so are slums.
More billionaires than USA? More poor than Africa.
20,000 mega watt nuke plant? Thousands of villages without electricity.
Call me a cynic. But I'm just a pissed off taxpayer.

 

[Roybot]

These threads piss me off. On one hand we talk of a 6 trillion dollar economy, and on the other hand 30% poverty.
Metros and monorails are coming up in every city. And so are slums.
More billionaires than USA? More poor than Africa.
20,000 mega watt nuke plant? Thousands of villages without electricity.
Call me a cynic. But I'm just a pissed off taxpayer.

You don't see the benefits of improving economy straightaway. The infrastructure and facilities that India has today, imo reflects the economy of India in early 2000.

 

[GareebNawaz]

You don't see the benefits of improving economy straightaway. The infrastructure and facilities that India has today, imo reflects the economy of India in early 2000.

No Whiplash has a point. India is the land of contradictions. Just go to Mumbai Intl airport. Yea sure it is a world class airport with wirld class amenities, but right across the runways are slums. Now tell me..there are thousands of people not getting a days worth of food or even a decent wage, but you have all these upper class people right across "the street" if you will living in utter conditions.

 

[Roybot]

No Whiplash has a point. India is the land of contradictions. Just go to Mumbai Intl airport. Yea sure it is a world class airport with wirld class amenities, but right across the runways are slums. Now tell me..there are thousands of people not getting a days worth of food or even a decent wage, but you have all these upper class people right across "the street" if you will living in utter conditions.

I never discredited his point. I guess at the end of the day its about priorities. Right not government is investing in infrastructure, 10-15 years down the line when India has a decent infrastructure set up, these funds can be diverted towards poverty.