Indian Economics Thread II

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Rast

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I'm not surprised surprised. Adani is "too big to fail" and "too well connected" to be allowed to fail. And everyone knows what is at stake here if the Adani empire collapses.

Regardless, Adani's sprawling monpolies will only negatively affect India's future. I wonder what the Indian chaebols will look like.

A lot of garish displays of gold due to Indian culture and other more internationally modern signs of wealth for the first and some of the second generation. As with every culture, eventually the third and fourth generations will settle on a more restrained persona that downplays their actual wealth, especially to outsiders. For example, thing that people from poor and middle class backgrounds, even if they become moderately wealthy can miss is that scions of wealthy families don't usually engage in conspicuous consumption as much. Branded clothing and garish jewelry is one of the stronger indications that someone isn't from generational wealth.

At the same time a person can still tell if a westerner, Japanese, Korean etc is from a well off family a lot of times from their clothes due to the cut and the quality of the clothes. Company logos, if the clothes are not custom made, that are visible to others are more seen as undesirable unless the wearer is an owner of the brand or for some other specific reason. A lot of wealthy Chinese are still in the first and second generational peacocking stage, and I wish to remain diplomatic so I'll simply say that people I know from established generational wealth do notice things like that.

It's their economic policy to export themselves out of poverty. ;)

Hence why India wants foreign countries to recognise Indian degrees and accept Indian migrants. Not only will this increase Indian influence at the ballot but also transfer an extra mouth to feed, it becomes that western country’s problem now.

Its a good thing for foreign countries if they have the understanding that they are better off accepting high performing migrants from India and other places in the world for that matter. Look at how a lot of talented Indian medical students study to take the US equivalency exams after their Indian schooling finishes. Having more talented and motivated physicians is a net benefit to any society. But consideration must also be made to immigration policies as large amounts of lower quality immigrants can cause issues if they become too much for the social, economic, and cultural nets of foreign countries.
 

mossen

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Today’s “grim reality” is that the economy needs to create 200 million jobs over the next decade to employ all working-age Indians.

Most people are not aware of India's massive employment crisis. It's an economy which creates very few jobs. Even before the pandemic, India only created ~2.9 million non-agricultural jobs per annum after 2014. China created 10-12 million jobs per annum during the same period.

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India's attempts to massively invest in chips may or may not succeed but let's be clear about one thing: they won't create many jobs. The chip industry is extremely capital-intensive. Indian policymakers are trying to use policies that are befitting for a developed country with high capital-low labour availability at a per capita GDP of $2500. It's insane, but it speaks to their obsession with keeping up with the West for appearances sake.

Meanwhile, Vietnam powers ahead because it focused on low-end, mass-labour manufacturing before it began to export electronics and more capital-intensive stuff. Obviously, so did China. Indian policymakers seem to want to LARP as developed before they actually get there.
 

Chevalier

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Its a good thing for foreign countries if they have the understanding that they are better off accepting high performing migrants from India and other places in the world for that matter. Look at how a lot of talented Indian medical students study to take the US equivalency exams after their Indian schooling finishes. Having more talented and motivated physicians is a net benefit to any society. But consideration must also be made to immigration policies as large amounts of lower quality immigrants can cause issues if they become too much for the social, economic, and cultural nets of foreign countries.
In theory yes, but in practice not so much.
Because what we do have - rather than another Ramanujan - are scores more cases of shameless caste discrimination and nepotism eg Oracle, Facebook etc. Chances are high your average Indian medical student applicant pulled a
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to gain position or resorted to nepotism to get ahead.
The Indian government practices a policy of exporting Indians- nations which want good relations with India must accept Indian workers- a fact that has resulted in India's self exclusion from RCEP, because one of India's demands was for RCEP countries to recognise the degree mill qualifications of India.
 

ansy1968

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India's attempts to massively invest in chips may or may not succeed but let's be clear about one thing: they won't create many jobs. The chip industry is extremely capital-intensive. Indian policymakers are trying to use policies that are befitting for a developed country with high capital-low labour availability at a per capita GDP of $2500. It's insane, but it speaks to their obsession with keeping up with the West for appearances sake.

Meanwhile, Vietnam powers ahead because it focused on low-end, mass-labour manufacturing before it began to export electronics and more capital-intensive stuff. Obviously, so did China. Indian policymakers seem to want to LARP as developed before they actually get there.
Well bro Indians love prestige project, it doesn't matter if it failed as they love having White elephants anyway as they were sacred animals and extremely rare. ;)
 

luminary

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China's decision to reform the industrial emissions sector was prescient. Look at India and Bangkok now:
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The Alarming Rise of India’s Pay-to-Breathe Industry​

As the state’s solutions to pollution fail, the need for expensive air purifiers is driving a new kind of inequality.
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India’s air pollution is a rolling disaster that shows no sign of slowing down. A
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by the Centre for Research on Energy and Clean Air think tank found that “almost the entire population of India” is exposed to air pollution above the guidelines set by the World Health Organization. In 2019, air pollution killed an estimated
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.


As attempts to fix the problem at the source fail, a new kind of inequality is taking hold in Indian cities. Facing potentially deadly air quality outside, wealthier Indians are paying to breathe free, creating a booming market for air purifiers that is forecast to
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. But in a country already
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, where
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and the
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, paying for breathable air isn’t an option for most. Air purifiers purify air for the privileged “while the public is left to decay and degrade.”

Exposure to high levels of ambient PM 2.5 (particulate matter under 2.5 micrometers, which gets stuck in people’s lungs)
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deadly illnesses such as lung cancer, strokes, and heart disease. Deaths linked to PM 2.5 pollution have
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, claiming 979,900 lives in 2019. What’s more, according to the World Air Quality Report 2022, air pollution costs India
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.


In 2019, when 102 cities in India failed to meet the country’s air pollution standards, the government launched a National Clean Air Programme. Less than five years later, the number of failing cities has grown to 132. C
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the Maharashtra Pollution Control Board of moving air quality sensors to “cleaner” parts of Mumbai.

Breathing air in India’s capital is equivalent to
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during Diwali, a Hindu festival where many people burst firecrackers, and
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during the winter. News articles meet every spike in poor air quality with air purifier advice: “Delhi air quality turns severe: 5 Air purifiers that will help you breathe clean air.” Prasad says surging demand has led to substandard products in the market.
 
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