Who destroyed our hope?

[he-man]

Since India with no manufacture base how can you expect the population to acquire enough to skill to efficiently producing manufacture good?

Who do u think produces the maximum number of skilled workers in the world after china??

 

[Steakhouse]

Who do u think produces the maximum number of skilled workers in the world after china??

Since India without a manufacture industry that I believe India can't be a nation provide the 2nd most skill worker in manufacture industry.

 

[he-man]

Since India without a manufacture industry that I believe India can't be a nation provide the 2nd most skill worker in manufacture industry.

Not my problem if u are a non believer

 

[The Unnamed]

Since India without a manufacture industry that I believe India can't be a nation provide the 2nd most skill worker in manufacture industry.

not my problem too if what you know is wrong. do you think india was importing stuff from cheap labor chupa powa china since 1947 ?

 

[Steakhouse]

not my problem too if what you know is wrong. do you think india was importing stuff from cheap labor chupa powa china since 1947 ?

I don't pay attention to the number of skill worker in India by my logic without manufacture industry how can it foster a skill labor without the job require?

 

[Last Samuri]

Stop moaning people.

Before you. Critical yourself for growing at only 6% or s gdp of only 2,trillion

Take a look at the mess on your eastern border.

That is a messed up country and people.

You Indians are doing fine

 

[dray]

Oh man, all of you... What destruction of hope are you talking about?

Do we want an economy like that of China in India?
Are we willing to have a single party dictate terms - economic and otherwise?
Are we ready to surrender all personal freedom to run only after money - all the time?
Are we going to copy every single thing in the world and make cheap clones?
Are we interested in toppling US as a superpower?
Are we conditioned to impose a single culture on the entire country and kill its diversity?
Are we willing to use state machinery to make workers work on ridiculously low wages?
Last but not the least - are we capable of hiring thousands to spawn fake data in international forums?
All of these are documented and not disputed. @DRAY - inputs please.

We can't and we should not. Stop comparing India's economic model with China. Compare with South Korea, or Japan - learn from them. We have a different requirement, our needs and solutions are different. Things are looking up.

http://economictimes.indiatimes.com/news/politics-and-nation/narendra-modi-led-governments-insurance-land-gst-bills-stuck-in-opposition-quicksand/articleshow/45264648.cms
Once these are through, reforms will pick pace again. Having the best city in the world and still housing a third of its own people below the poverty line is not the economic model we should aspire to emulate. We should try to be more inclusive in our approach.

I have 3 posts in my mind, but cannot post from a mobile. So, I will just post a short reply:

Internal consumption driven economy is the most stable one, Indian economy remained steady during the global crisis without much economic stimulus because it is consumption driven. And since our own consumption rate is very low with major scope of growth; our consumption driven model can produce a decent growth rate if managed well.

Export driven economies are a bit less stable compared to the consumption driven model, but this model can actually make a country "Rich" and sustain it over a period of long time if that country can maintain its edge in R&D and brand building while keeping the cost low (US economy is more resilient than you can imagine). Export driven economy is the best way to grow, especially for smaller countries with low population/consumption or saturated consumption level.

Outsourcing driven economies, often mistaken as export driven economies, are the most unstable ones and should be treated as a short term solution, that too with caution and a long term goal to make it an export driven economy from the very begining. The irony is that the death of a outsourcing driven economy is built into its success, initially the economy grows at a rapid rate, with it the average salaries and wages grow, cost of operation grows, inflation goes up, economy inflates, and slowly the outsourcing destination becomes unviable, businesses leave the place for the same reason they left the previous place, this is because you were going up on a borrowed ladder. The only way out is to make it a export driven economy, but that shift is far more difficult to do, especially for big countries with huge population.

I think we have lots of growth potential left in our consumption driven model, at the same time we should also focus on outsourcing for short term growth and extra fund that we really need, but we should not overdo it so much that we become dependent on it, rather, we should focus on export driven model and work hard to go up the value chain, i.e. export of finished products, not raw materials. For that we need to focus on R&D and help our companies to go global.

 

[HariPrasad]

India along with US, Japan and others is feeling the heat of China's rise! But where the source of all these heat? Military? Diplomacy? Soft power? Nops. Its Chinese economy. China is about $ 10 trillion economy while the largest in terms of PPP, bravo!

Whether its space race, military power, Olympics, strategic bases abroad, soft power, global dominance everything is fuelled by economy and the $$$ you have! The Chinese have done the most wonderful job here. Even after becoming $ 10 trillion economy still they are growing at 7-8%!!!!!!!! Simply awesome!!!! Thats the real power.

Now while India was in better situation few decades ago, why didn't we grow somewhere even near to China? I tried to find out the same.....

1) License Raj of Nehru: This intolerable decision of our beloved ex PM has single handedly destroyed the backbone of our industry! This remained at the core of corruption and pulled back the economic growth in the country. After China started reform in early 70s, India also started slowly but again another visionary came, Morarji Desai! Again we were pulled back to the line poverty!!

2) Nepotism (Raj gharana regime at Centre): We repeatedly selected people for the top post who had birth right not the capability to lead India to a poverty free country, to lead India to real independence.

3) Rampant corruptions: Limitless, wholesale corruption from top to bottom! Again this has been fuelled by nepotism and license raj.


We did something good in the 90s and early 2000s but again extreme corruption and vote bank politics by UPA-2 has totally destroyed the backbone of economy.

In 2004 Chinese's economy was same as India in 2014 now what is funny is today's news PwC said India may become a $ 10 trillion economy by 2034!!! Thats 20 years away man!!!!! China took only 10 years.

Now whether its a new missile from DRDO, a new ultra modern hospital coming out in sub urban Mumbai, whether an Indian in space, whether we have a new 8 lane road, a modern airport/railway station everything comes from money!!! Now letting apart all these old bull shit can Modi govt take strong appropriate decisions? Will the state govts stand by Modi? Will Indians ever understand that independence is not in strikes and politics but in seeing everyone is happy atleast they can have basic amenities like food, shelter, hospitals and social securities.




How? Simple but very difficult choices!!!

1) Ban anyone from becoming MLA/MP for more than years.
2) Very Strong anti-corruption watchdog and exemplary punishments.
3) Fast decision making by the govt officials, no red tape. They should apply online ticketing system.

I think Modi has nothing to lose, he can make a few decisions and become the father of new India or do like what others did and become another MMS after 10 years.

We have to make a choice about fate of our 1.3 billion people!!!

India can become a 10 TR economy in 10 years. We can achieve that by 8% growth and 7% rise in currency value every year for 10 years. In PPP we are already the 3rd largest economy. Now WB has said that indian currency was valued in 2005 in PPP and subject to a huge upward revision. It is totally possible that 4.5 Tr ppp valuation may rise to 6+ TR valuation. Wait for some time Many Macro economical Parameters are subject to upward revision.

 

[dray]

Since India without a manufacture industry that I believe India can't be a nation provide the 2nd most skill worker in manufacture industry.

I don't pay attention to the number of skill worker in India by my logic without manufacture industry how can it foster a skill labor without the job require?

Who told you that India doesn't have a manufacturing industry? Why don't you check our GDP break up?

 

[Swachh_Bharat]

India can become a 10 TR economy in 10 years. We can achieve that by 8% growth and 7% rise in currency value every year for 10 years. In PPP we are already the 3rd largest economy. Now WB has said that indian currency was valued in 2005 in PPP and subject to a huge upward revision. It is totally possible that 4.5 Tr ppp valuation may rise to 6+ TR valuation. Wait for some time Many Macro economical Parameters are subject to upward revision.

More like currency will remain stable, but inflation will be around 7%.
So, 8% real growth + 7% inflation = 15% per year is how the nominal GDP is going to grow.
At this rate, it takes 11.5 years for Indian GDP to reach 10 trillion.

This year the nominal GDP grows 13%, to put things in perspective.

Off course, inflation gradually dissolves the PPP factor.
So, in future, while inflation persists and currency remains stable, you would see a much less difference between our nominal and PPP GDP.

 

[Echo_419]

Stop moaning people.

Before you. Critical yourself for growing at only 6% or s gdp of only 2,trillion

Take a look at the mess on your eastern border.

That is a messed up country and people.

You Indians are doing fine

Awww Thx

 

[Echo_419]

Since India without a manufacture industry that I believe India can't be a nation provide the 2nd most skill worker in manufacture industry.

Your logic is great man.Mark my words you are gonna leave a mark on the world

 

[The Unnamed]

I don't pay attention to the number of skill worker in India by my logic without manufacture industry how can it foster a skill labor without the job require?

you should. maybe one day brainfarts will kill you and the only way to save your life will be to pay attention. Think about it !

 

[fast]

Indian people are to blame. You kept voting in the same losers.

 

[Abingdonboy]

China is the only country in the history of the world, that has achieved sustained average double-digit growth for three decades in a row.

No other country has done that, not in recorded history.

China's double-digit growth phase was an anomaly, and fueled by a very specific set of internal conditions within China itself.

Not to mention a world where we could easily seize the planet's export market with little resistance, or the era of debt-fueled consumer spending and credit just before the credit crunch.

India is facing a different world now, where they will have to fight Southeast Asia for every single export order, and the end of the era of cheap credit, which left permanent scars in the psyche of a generation after the 2008 credit crunch. I don't see anything in India's internal or external conditions which makes it likely to repeat the anomaly of double-digit growth for three decades, like China did.

I'm not saying India can or will sustain 3 decades of 10% GDP but it can certainly look to achieve an average of 9-10% for about 4-5 years and then have a sustained period of 7-8% (maybe 2 decades worth). China is a unique nation as is India and there are pros and cons to both styles of governance. The fact of the matter is though that China has gone through its boom phase and will now start to see relatively modest growth but it has a huge base so will still be growing impressively but will never itself return to above 8-10% growth . India still needs to go through that boom period- the foundations are there and it seems the time is now to let the Indian economy off the leash such is the efforts of the new Govt.