Indian Economics Thread II

[luminary]

India’s

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hit $4 trillion in 2023 for the first time ever, bringing the world’s fifth-biggest equity market closer to Hong Kong, which is worth around $4.7 trillion.


Altogether, the 50 biggest companies in India are worth over $2.1 trillion, or ₹180 trillion in Indian Rupees.


At the top is the multinational conglomerate Reliance Industries. The company operates in diverse sectors, including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Additionally, it holds the rank of the 100th

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.

Reliance’s Chairman and Managing Director, Mukesh Ambani, is

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with a net worth of $95.6 billion. The company was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer.

In second place is India’s largest private sector bank by assets and the world’s fifth-largest bank by market capitalization, HDFC Bank. The institution employs over 177,000 people.


Furthermore, in third place is IT company Tata Consultancy Services, which provides services in cloud, cognitive business operations, consulting, and cybersecurity in 55 countries, including the U.S., Canada, China, Australia, Germany, and the United Kingdom.

In total, IT comprises 6 of India’s 50 biggest companies. The list also includes 16 financial and banking groups and spans other sectors such as mining and energy, automotive, and consumer staples.

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[Duke Xiao of Qin]

Non-Chinese companies still don't get their executives arrested. Yes most of the arrested executives were local Indians, but there were Chinese nationals amongst them.

This time India is making these arrests because they have a stupid law forbidding money from being transferred to China. Even when the companies in question are Chinese companies. This is a direct financial attack at China.


I don't accept this. When Huawei was attacked, it's CFO arrested, and it being banned by the five eyes. China stood up to defend it. Because it was a direct attack at China's businesses. Canada and Australia were punished.

Xiaomi and Vivo were idiots for continuing to do business in India. But what India did was a direct attack at China's businesses. India cannot be allowed to get away with it scot-free. It had been getting away with continuous arbitrary attacks on Chinese businesses, stealing money, and now escalating to arresting Chinese executives. Sure Xiaomi and Vivo are deserved it, but China needs to start defending it's companies legitimate rights in non-Western countries. Punish Xiaomi and Vivo later, but don't allow a foreign country to bully your businesses, steal money that is owed to your tax collectors, and humiliate Chinese companies for fun.

This is not an issue of natural selection. As stupid as Vivo and Xiaomi are, they are not garbage companies. They are Chinese companies that have been quite successful in their own respective market segments. They are more successful than any Japanese companies in the smartphones business. I personally dislike Xiaomi, but I don't support the idea of throwing them under the bus, just because we are angry at their stupidity. They are a Chinese company at the end of the day, and they have been unjustly attacked for being Chinese.

On another note, have you ever thought about all that relationship Xiaomi and Vivo had built with their Indian partners and staffs? Would it have been so easy for them to just walk away from India? Those Indian staffs and partners have worked with them for so many years, despite the national animosity between India and China? Sure it's easy for us to say, just leave India and screw those Indian staffs. But would have been easy for Xiaomi and Vivo to abandon them? Objectively, now is the time for them to leave India, as harsh as it is for their Indian staffs and partners. At least now they can say to them, that it's not our fault for leaving. It's 100% the Indian government's fault.

I do not like Xiaomi neither.

They are a sellout company like most US ones !

 

[Sardaukar20]

I do not like Xiaomi neither.

They are a sellout company like most US ones !

Xiaomi reminds me of Fredo in The Godfather, a weak idiot, undeserving to be in the Corleone family. But Michael Corleone, his brother and the Don, won't accept Moe Greene, an outsider, for slapping his brother around in public. He had Moe Greene killed after for many reasons, but humiliating the Corleone family is definitely one it. And then much later, he killed Fredo for betraying him. Michael defended the Corleone family first. He made sure no one dares to mess with his family, even though his brother was a pathetic idiot.

Point is, Xiaomi is not everyone's favourite Chinese smartphone company, but it is still a Chinese company. It is still in part of the Chinese family. As the head of the Chinese family, the CPC should defend Xiaomi from discriminatory attacks by the Indian Government. India had no right to mess with China's businesses. It seeks to cheat, bully, and humiliate China by targeting its businesses in India. China must start standing up to this nonsense and make India pay the price. If there is anyone who is gonna punish Xiaomi for being a greedy sellout, it has to be the CPC and the Chinese people only. Defend your family in public first, then punish that idiot family member later in private.

 

[Bellum_Romanum]

Interesting stats coming from India with regards to the issue of trade deficits with 9 other countries, which has China sitting at the top as Indias largest trading partner.

https://twitter.com/i/web/status/1741684561736843328

 

[mossen]

As you would expect, as India gets richer more people will also try to leave. They were too poor earlier. Emigration is an inverted U-curve. Emigration peaks at middle-income levels. It starts to taper once you reach the World Bank's high income threshold.

 

[Michael90]

View attachment 123317

As you would expect, as India gets richer more people will also try to leave. They were too poor earlier. Emigration is an inverted U-curve. Emigration peaks at middle-income levels. It starts to taper once you reach the World Bank's high income threshold.

To be honest people from developing countries in general have been trying to enter the US this past year alot, this includes people from China as well for different reasons. EVERYBODY has their reasons for doing so.

 

[Michael90]

Vivo is garbage. Hopefully Xiaomi also gets its executives arrested by India.

For once, I am in "Full suppart Saar!!" mode for India to arrest all executives of Chinese companies who have businesses in India.

I don't think that's right to say such a thing. They are a private company whose objective is to get the best ROI they can anywhere on earth. So they ventured into India for that reason like any other company would have done seeking to expand its business and reach globally. The fact that India government acted irrationally can't be blamed on Xiaomi. To be honest, India business and investment policy had been quite complex for a while. Even Western companies have faced similar issues , so im not sure if it's only a China issue here, though they might target them for other reasons as well. But we need to see the reasons and allegations made and see if they are true before making a conclusion.

 

[ansy1968]

I don't think that's right to say such a thing. They are a private company whose objective is to get the best ROI they can anywhere on earth. So they ventured into India for that reason like any other company would have done seeking to expand its business and reach globally. The fact that India government acted irrationally can't be blamed on Xiaomi. To be honest, India business and investment policy had been quite complex for a while. Even Western companies have faced similar issues , so im not sure if it's only a China issue here, though they might target them for other reasons as well. But we need to see the reasons and allegations made and see if they are true before making a conclusion.

And also compare to Apple they had develop an EV car while the most hype I-Car is still a vaporware.

 

[Moonscape]

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I wonder what that "something" is

(Answer: neoliberalism + Hindu fascism)

 

[proelite]

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I wonder what that "something" is

(Answer: neoliberalism + Hindu fascism)

Another answer is they're not an East Asian nation with neo-confucianism roots and until recently, didn't have effective top down governance. See Singapore, Japan (Meiji Period), SK, Taiwan, China, Vietnam.