Indian Economics thread.

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Xizor

Xizor

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Godzilla said:
power plants. Shandong electrical construction #3. They had a 3x600MW power plant signed with Adani but yeah the government stopped giving visas out to Chinese workers, so most of the guys had to pull out when the job is half done, so they are in dispute with the government. Its pretty much all set up, in the contracts they made it to Indian law and Indian arbitrators, where most of the international contracts are to US or British law, and 3rd party arbitrators like Singapore/Hong Kong or New York.
I think he quoted like 50-60% of Chinese contractors in India loses money on those infrastructure work. Good time to pull out and let them rot.
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Deciding on the arbitration happens during the contract and is part of the contract. So, I think Chinese could've negotiated for a third party arbitration. Seems like the Chinese was ready to let go on this front to sweeten their deal and get the access to the market. It's tough luck but the Chinese side should've done some long term planning.

India is not at all a good place for Chinese businesses. Latest being that there was news that India removed its association with Li-ning just before Olympics.

Manufacturing, unlike Services, is a bad bet in India.
 
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Tyler

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Xsizor said:
Deciding on the arbitration happens during the contract and is part of the contract. So, I think Chinese could've negotiated for a third party arbitration. Seems like the Chinese was ready to let go on this front to sweeten their deal and get the access to the market. It's tough luck but the Chinese side should've done some long term planning.

India is not at all a good place for Chinese businesses. Latest being that there was news that India removed its association with Li-ning just before Olympics.

Manufacturing, unlike Services, is a bad bet in India.
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Why would Li Ning want to associate with a crappy country in Olympics sports?
 
Godzilla

Godzilla

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Xsizor said:
Deciding on the arbitration happens during the contract and is part of the contract. So, I think Chinese could've negotiated for a third party arbitration. Seems like the Chinese was ready to let go on this front to sweeten their deal and get the access to the market. It's tough luck but the Chinese side should've done some long term planning.

India is not at all a good place for Chinese businesses. Latest being that there was news that India removed its association with Li-ning just before Olympics.

Manufacturing, unlike Services, is a bad bet in India.
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Yup, but that is experience being paid for. Don't think they will make that mistake again. Not sure if the Chinese companies have much experience in pricing in risks. For the companies I have worked for, we would basically avoid Indian clients, such is their reputation, and getting burned on past projects. There is always that few people who think they can outfox the fox though...
India probably burned their bridges, "Figuratively" by the way they do business lol..
 
DarkStar

DarkStar

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It’s not just Indians in India; anyone who’s ever worked customer service or sales and had to deal with Indian customers will have plenty of horror stories to tell; as it is, I don’t even bother doing business with Indian clients or partners, not worth the hassle and headache.
They love to talk for the sake of talk, the way Karen’s complain for the sake of complaining and in fact even the men turn out to be the most whiniest bitches ever.
Never again.
 
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Topazchen

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DarkStar said:
It’s not just Indians in India; anyone who’s ever worked customer service or sales and had to deal with Indian customers will have plenty of horror stories to tell; as it is, I don’t even bother doing business with Indian clients or partners, not worth the hassle and headache.
They love to talk for the sake of talk, the way Karen’s complain for the sake of complaining and in fact even the men turn out to be the most whiniest bitches ever.
Never again.
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I usually use fiverr for small time gigs and I've come to avoid Indians on the platform. They are dodgy and always looking to hustle an extra dollar from you. I'd rather work with Pakistanis and Bangladeshis who are very honest and reliable from my experience.
 
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tch1972

Junior Member
Godzilla said:
Yup, but that is experience being paid for. Don't think they will make that mistake again. Not sure if the Chinese companies have much experience in pricing in risks. For the companies I have worked for, we would basically avoid Indian clients, such is their reputation, and getting burned on past projects. There is always that few people who think they can outfox the fox though...
India probably burned their bridges, "Figuratively" by the way they do business lol..
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It a cultural thingy. Most of us in Singapore knows better doing business with Indian. Be prepared for delay payment or even default payment.

There was even one case i heard about an Indian client default on installment and even had the audacity to claim warranty later.
 
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