Indian Economics thread.

[Mt1701d]

This guy is the biggest crony capitalist of India. His net worth went from $2bn in 2014 to $75bn now. All because he's Modis closest businessman (bankrolls BJPs elections). Every major port, airport ,highway, mines etc are owned by him. Any businessman who dared to compete with him was targeted by Indian agencies and was forced to back off. That's how he became rich.
For this guy to give predictions is laughable.

Maybe he was thinking about his own net wealth and added 1 or 2 zeros too many…

 

[siegecrossbow]

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Yikes. How come their massive forex inflows can't help with this?

 

[DarkStar]

https://twitter.com/i/web/status/1420194482050543616

Accounts for why the indian middle and lower classes are forced to sell their gold just to survive.

EDIT: should also note that the IMF projections are optimistic and fanciful given that COVID's 3rd wave is not far behind

 

[sinophilia]

https://twitter.com/i/web/status/1420194482050543616

Accounts for why the indian middle and lower classes are forced to sell their gold just to survive.

EDIT: should also note that the IMF projections are optimistic and fanciful given that COVID's 3rd wave is not far behind

Well with annual GDP growth of 0.75% it should surpass Japan in nominal terms by 2075. That's assuming the currency doesn't implode as it does every few years.

 

[Petrolicious88]

https://twitter.com/i/web/status/1420194482050543616

Accounts for why the indian middle and lower classes are forced to sell their gold just to survive.

EDIT: should also note that the IMF projections are optimistic and fanciful given that COVID's 3rd wave is not far behind

Yet India is still talking about surpassing China in 20 years. Jealousy is a bitch.

 

[Kaeshmiri]

Yet India is still talking about surpassing China in 20 years. Jealousy is a bitch.

Can you really blame Indians for believing so? Literally every month some Western Org comes up with these wonky projections of India surpassing everyone. Indians read the headline and they orgasm over it.

But Sadly they never read the details of those reports and the long list of unrealistic assumptions they make while issuing these projections.

One example was a report which said India will be a $10tn economy by 2035. Now this was certainly a big number. But what it assumed was that Mfg will be 25% of GDP by 2030. Currently its 12% and guess what? It was 15% in 2014 (when Modi assumed power) . So it actually dropped .

The reality that many Indians don't want to accept is that they're competing not with China but with Bangladesh, Vietnam , Indonesia. Indias vast population is not its asset but rather a burden.

 

[weig2000]

One example was a report which said India will be a $10tn economy by 2035. Now this was certainly a big number. But what it assumed was that Mfg will be 25% of GDP by 2030. Currently its 12% and guess what? It was 15% in 2014 (when Modi assumed power) . So it actually dropped .

I suppose this comes after the current projection of $5 trillion by 2025 is apparently out of reach. This has become a pattern: they keep dangling something very appealing in sight but always out of reach. So India always has potential, but it's always 25 years in the future.

 

[Shaolian]

The reality that many Indians don't want to accept is that they're competing not with China but with Bangladesh, Vietnam , Indonesia. Indias vast population is not its asset but rather a burden.

How would the average Indian knows that they are competing with the Bangladeshes, Vietnams or Indonesias when all they see are graphs or tables like this?

 

[Petrolicious88]

Can you really blame Indians for believing so? Literally every month some Western Org comes up with these wonky projections of India surpassing everyone. Indians read the headline and they orgasm over it.

But Sadly they never read the details of those reports and the long list of unrealistic assumptions they make while issuing these projections.

One example was a report which said India will be a $10tn economy by 2035. Now this was certainly a big number. But what it assumed was that Mfg will be 25% of GDP by 2030. Currently its 12% and guess what? It was 15% in 2014 (when Modi assumed power) . So it actually dropped .

The reality that many Indians don't want to accept is that they're competing not with China but with Bangladesh, Vietnam , Indonesia. Indias vast population is not its asset but rather a burden.

Well, for a long time it was natural to make comparisons between the two countries. But in the last 10 years especially, the question has become India vs. China: is there even a comparison.

 

[siegecrossbow]

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