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As an Indian I feel insulted that my country can not compete on a level playing field with 15 other Asian and Pacific nations. We should make efforts to erase this shortcoming.
The so-called 'level playing field is a myth. No country has the freedom that workers have in India. The so-called competitiveness/ productivity story is a myth. No one tells the truth about the heartless exploitation of the workers by the so called ' competitive economies'.
We have failed manufacturing. If we lose anymore time we will lose our demographic dividend. Need of the hour is to FOCUS on manufacturing, align with supply chains, or we will be left behind.
We manufactured enough people but not enough job... If we go by malthusian principle, having hands off approach would be a better bet than bringing more manufacturing jobs... For eg more strife in cow belt to force people to migrate and bring in remittances and skills
How can we create more jobs when the govt wants to tax the hell out of actual job creators.... Businessmen and industrialists are viewed as demons, yet much of the taxes and political campaign money is squeezed out of them....
Rightly said manufacturing should have been our focus in the 90s and 2000s , for a population such as ours only manufacturing can get people to work, services hire only a small number of people. This was so evident to me even as a young engineering student in 90s and 2000s , god knows what our leaders were doing then
Playing in the correct league is important if it is a matter of survival.Playing when knowing one is unprepared is foolish and dangerous in a merciless world, 'may' is a very uncertain and wishful thinking word. Nobody respects a loser nor will help him in the real world where everyone is playing to win.
Congress except Manmohan and Narsimha Rao is highly communist/socialist , their think tank included yogendra yadav, aruna roy, many from bengal, the home of communism, infact even today, many extreme communists control rahul gandhi, which is extremely dangerous for the country, to the contrast modi is pro capitalism but is bound by electoral politics,
@@rohitadhatrao6877 But, interestingly Congress liberalized the economy most. Even Vajpayee regime followed. Modi is going reverse. A lot of tariffs have gone up. He believes in big government
While this treaty was aimed at manufacturing and goods, which is inherently India's weakness . While it totally overlooked Services, which is India's strength. So India had a lot to lose with very little to gain.
It will continue to lose despite not joining. That's the point of this video. Shekar echoed the same points that I was making yesterday. The loss of committing to change, reforms will come to bite India in a few years as India will continue to loose the competitive edge to the RCEP countries even faster than before. It will miss out on opportunities as Investors will think twice before wanting to come to India as RCEP is going to provide bigger and better opportunities.
China was N. Korea 40yrs ago, then leadership with a vision came into power. Because of continuous reforms, China has improved many of its citizens living standards. As I see it, India has a leadership deficiency.
@@shenanigans4177 Shekhar was speaking BS about biofuels and praising BT Cotton which shows he is a paid off cortupt misleading analyst. In the land of blind bhakts, any idiot can get few thousand followers.
We need the land reforms bill asap in next session of parilament .. How will the the government ask companies to setup huge manufacturing factories if there is no land in governments control .. Look at what happened to the armco unit and nuclear power plant which was propossed in maharashtra ... People agitated , politics happened and projects stalled .
Bro in MODI 1.0, land acquisition bill was on of the first bills introduced in the Parliament. Congress and Left protested so heavily, and instigated farmers, ultimately the government had to withdraw the bill. Anyways, Aramco is now moving to a different location, the Saudi oil minister and Maharashtra CM has confirmed it.
Sir I am follower of your analysis. Your today's analysis remind me of one article from the Hindu last week. It was also advocating for free trade instead of trade protectionism. Though I have a different take on it , now is not the right time for us to compete with China in manufacturing sector. We need to be more competitive in terms of efficiency and price. We need to build business culture , more focus on make in India project. It is wise to take more time rather than to knock out early. India should aim for free trade agreement with Europe. The talks are on the plate. We cannot afford to be more import dependent that at the end of the day hurt our current account and increase the deficit.
@Krishnan Unni Madathil after 200 years of colonial rule it was very difficult to recover so fast. A nation needs time to develop. US took around 150 years to be a global power after independence. Actually british had left us with nothing. We were zero with resources. It is possible for India only to stand up after repetitive invasions from ancient times. We all will do it together.
@prakash n it is not that easy for India to get the investment in terms of fdi as our culture doesnot support business. During trade war of few months back many companies shut their manufacturing unit in China but they didnt come to India rather they prefer asean countries over India. We need to work on our infrastructure. Red carpet has to be provided instead of Red Tapism.
@prakash n if we achieve what could be better than that but it seems a far distant. To achieve 5 trillion we need to grow at double digit but right now we are stucked at 6 %. To be rational is better than optimism.
Talks with EU have been on for years. It will most likely never go anywhere. Even if it does it will be very limited in scope. The EU will want much tighter regulation, labour laws, quality standards, IP etc. India will have a tougher time than we had here in RCEP is getting a deal though. These socialists will get us nowhere.
In other news, Congress is trying "desperately" to take credit for India's decision to not to join RCEP, citing serious "opposition" raised by Rahul Bhaiya and Priyanka didi. :)
@Akarsh not joining rcep is blessing in disguise. India doesn't have manufacturing capabilities as of now to be able to be globally (or even regionally) competitive. One pressing reason for this we somehow seem to miss is the incessant desire of people to run after govt jobs and not innovate, take risk which goes back partially to the quality of education.
@@yog-sadhna3415 dude political parties shape ideas. Criticising them is not akin to wasting time. China also wants one party system to curb dissent,FOS. And not to focus its resouces on growth. You want that?
@Akarsh fair enough. I agree. But it is also easy to criticise Indians for not doing anything or not being woke enough, right? If you want to look at the bigger picture, you need to emulate a system where innovation, competition is not only respected but also nurtured. To be able to do so, political, eco system and most significantly education system needs to pace themselves with time. Since, political parties are what drives a political system, I don't think you can ask anyone to put India first without criticising the political setup.
I differ with you Gupta ji. This is not 1991. We have all the tech and other skills to start our own business with exceptions of weapons for sure. So, all we need is a mix of protectionism and open markets so that, if we can't export we can flourish by meeting Indian demands.
Opening is good, an example . Suppose I want to buy an electric scooter and want to renew my house or office but I ve 60000 only. Now I buy hero electric at 40000 and can't go ahead with just 20000 for rennovation ,whose in loss? Majdoor, Mistry, cement shopkeeper etc. Now after RCEP I bought a Vietnamese scooter for 3000 which is more efficient than Hero in a sense that it charged fast, longer distances etc. Plus I can renovated my office which means the saved money is spent in improving economy after I employed majdoors.
Mr. Shekhar Gupta, you have a new subscriber. You nailed it when you said that "there is no national pride in an inefficient company surviving forever ". Our protectionism policies have hurt us pre 1991 era and we're moving again in the same direction. Our industries need to either perform or perish.
Very humiliating that a country like New Zealand- which has an insignificant landmass when compared to India- can destroy Indian diary sector by just exporting 5 per cent of it's total production. Ridiculous!
I'm studying in Italy, here in Italy every product have the logo "Prodotto in Italia" "made in Italy" with italian flag. Italians never touch any product without this logo. if one brought without this logo, his friends will mocking him calling terrorist , anti-nation, traitor etc,,,. but we Indians never care about the product of origin. government should take steps to include genuine verified logo "product of origin" we can even use states name like, product of maharastra, product of Kerala, product of hariyana, productt of assam, prodect of rajasthan, etc, with indian flag/ whatever, it's citizen, more responsible than the government. i hope atleast whoever watching this video will take steps in their life
We have wasted so many years after independence... it's sad to see the state of the country as compared to other nations who gained independence at the same time...
None of the companies you mentioned post 1991 are manufacturing companies. That's the sad story. I am not against the reforms but India needs to seriously rethink on manufacturing industry. We are very bad at manufacturing
@@shubhankarvashistha6230 No, I am saying that he mentioned Infosys, tcs etc after 1991. But didn't mention any success story in manufacturing sector. You might say Tata, Mahindra but none of them are that good at Engine manufacturing capabilities
Sekharji there is a key difference between 1991 liberalization and RCEP. Firstly the Chinese do not provide equal access to their market to anyone. Secondly the other markets are too small to be of any significance be it Australia , NZ and other ASEANs nations. Please look at the world now all major countries are using access to their markets as major conflict resolution. When Balakot happened Pakistan blocked its access to its market same about US. We also did the same with Malaysia and Turkey. The idea of an open access to nations market is not a level playing field.
It seems By not joining RCEP India has missed the opportunity to reform our economy as Manmohan Singh did in 1990 . Modi Jee you have Missed a step to make India a 5 Trillion economy by 2024
Being a political economist, please see why New Zealand wants to export to India. Fonterra over produces 19 times more than their domestic demand. They just create huge inventory and then find countries to export millions of tons of milk powder in few months. Our concerns for dairy were not addressed in RCEP. Milk is a major & daily sources of cash flow to rural area. Why you find our farmers inefficient?
Excellent speech in simple language.How many Indians know this RCEP?.Even BJP has forgotten their original agenda that is Development and good governance. I hope Lord Rama will help us.
In my opinion without India RCEP will be useless..Most of the countries here are manufacturing hubs who needs market for their goods.. India would have been the big market for them. They would have gained much if they looked into Indian main concerns.
we missed the train again, I think China would be rather happy with this, considering India's Act East policy is going nowhere and now India is completely isolated
@@arb5529 You are living in Fools Paradise my dear friend... Every Country want to do business with India because of a big middle class... If we would have joined RCEP our middle class would have suffered more...
@@AS-qt2qx well I don't think India is that favored, look at Bangladesh, Vietnam. Just having a big population doesn't work. India falls off from the business opportunity radar all the time, India is known for missing opportunities.
@@arb5529 Bangladesh has a big Textile Manufacturing Sector, while we don't have a Manufacturing Sector compared to our GDP... So we didn't have much to gain we are better in Services... If you just google out India has trade deficit with almost all RCEP countries, without Services this Trade Deficit would have worsened. What we need is a foothold in African market...
That's a big problem. The protectionism in Indian governments is still present. While BJP portrays itself as a Right Wing party, in my opinion, BJP is just another Congress under a Hindutva wrapper (Congress is BJP under a Secularism wrapper). BJP's economic mindset is just as Socialist and Protectionist as that of Congress. It seems to me that the current BJP govt., just like Congress, doesn't have the guts to improve the Labour Laws and intoduce Land Reforms. They'll just try to get away with Populism and Demagoguery. If the current Protectionism still carries on, then India will not be able to become a Developed Country by 2100.
A real Indian patriot. Fair and very unbias analysis. Tariffs are only good for short term goals. Any implementation of tariff must accompanied with a scheduled roll back to ensure that the protected industry make efforts in making themselves more competitive.
Fully agree with you sir!! We have not work at all with our structure issues, making us zero competitive. Government is always busy with something rather than socio-economic challenges.
If we Indian industrialists are not sincere and honest then why to blame others for our weakness. On other side if our child is weak we don't throw him away take others strong child, we have to deal with our own child what ever may be consequences.
You can also achieve such a result with the ease of availability of study material including online provided you have a daily, monthly and perodical plan and willingness and support. Don't look for help outside always but help yourself. All the best.
I was just curious how come the other emerging asian economies like Indonesia, Malaysia,thailand etc were so willing to join the RCEP given that the big panda China is in the house! How are they planning to tackle this manufacturing monster ? Perhaps India could have learnt from that and I was expecting Shekhar to talk about it, unfortunately he missed that .....
To add to the above comment, the have better environment for manufacturing, more business friendly land and labour laws. So their experts could benefit.
Apart form Malaysia, all other south eastern economies have a huge trade deficit with China, and yes even in ease of doing business index, it's only Malaysia with impressive 12th rank. How are Indonesia, Thailand, Philippines going to check China their economies are as vulnerable as India's. Shekhar should do an episode to cut this clutter as well.
Let me tell you why. China is undergoing industrial upgrading. Some labor-intensive enterprises like cloth/shoes/assembly factory need to find new production bases. When tariffs fall, they can transfer to ASEAN and sell back to China. In this way, ASEAN can solve employment, increase tax and export, and balance trade deficit with China. In addition, China needs ASEAN's agricultural products and seafood to reduce domestic food prices. So for China and ASEAN, this is a win-win business.
Because ASEAN country like Indonesia, Singapore and others is the one who made, initiated, and negotiated with all country. Is not China made bloc but ASEAN made bloc
Even China ditched a core principle of communism for capitalism during their reform period. Our Indian politicians and businessmen are so scared and inept in the eyes of the world. And the eyes of our people.
Both sides have reasonable arguments but i think we can all agree that india was not ready to join RCEP in its current condition but if sweeping reforms are done then we should definitely join it in the future.
I wonder why the other RCEP members were unwilling to budge on opening the Services sector where our real strength lies. e.g. IT,Financial,accounting,consulting,legal,etc. Why does Indian pharma face so much non tariff barriers in china ??
Superb incisive program, as always. However, while it sounds great to say that India should be bold enough to embrace RCEP, and face Chinese competition, do note the following which an economics expert has blogged - The Price of a New Interferon Drug in India is Rs. 85000/- (US$ 1180) for a Generic Manufactured Drug which is 95% as effective as the original. Do you know the Price for the same drug - If India agrees to protect the Patent Protection for 20 years more (One of the core conditions of the RCEP) - Rs. 6,70,000/- (US$ 9240). So a cancer patient who is able to take 8 Interferon Treatments over 9 months today will be barely able to afford a single treatment. If the above is true, then from a perspective of Drugs and Medicines alone - the RCEP would have been a huge disaster for India.
From 2012 India didn't prepared. Pulled out of RCEP. Pulling out satisfied many nationals but India will suffer because of 15 country RCEP. Indian products has no competiveness. In the middle of it WITHOUT ANY HOMEWORK, demonitirisation happened. A country capital don't have air to breath, what more a country can have shame. Beef, cow, lynching, mandir-masjid, pulwama- balacoat, Rafael- S 400..... these are the important issues!!!!
Is the India-EU trade deal less likely as a consequence of the bipartisan consensus on RCEP? Because , on paper the major obstacles in the way of India joining RCEP are absent -- 1. No yawning trade deficit 2. Better chances of compromise on movement of people(Services) . But on the flip side the ginormous subsidies given to the agriculture sector may prove to be a sticking point
I appreciate your confident opinions on Economics with lack of knowledge Economics.. it is easy to give speculative talk on Politics where no expert know how is required... 😄
Modi’s 56 inch chest chickened out against international competition and international pressure. I wonder how he will make a 5 trillion economy if we are afraid of competition. Remember in 90’s when congress imposed economic reforms similar criticism was made but the Sardars Chest was wider and he made sure our economy was opened up and we are reaping the benefits of his policies
Here is a list of reasons why India should not Join RCEP (or postpone joining RCEP) 1) Services are not a part of the deal which was one of India's Demands and is India's Strength. 2) India Already has Free trade agreement in place with most of these countries. 3) RCEP gates are always open. 4) Dairy Industry is supporting millions of farmers by providing them supplementary income. Removing this income from farmers hands can prove very bad in financial inclusiveness of farmers. 5) India has for the first time in its history put the pedal to the metal in manufacturing aggression in last couple of years. Its still in the infancy. You don't take an infant to a war, you take a young man to a war and the war itself turns him into a warrior. 6) As one other commenter Jaideep Chitnis mentioned "The Price of a New Interferon Drug in India is Rs. 85000/- (US$ 1180) for a Generic Manufactured Drug which is 95% as effective as the original. Do you know the Price for the same drug - If India agrees to protect the Patent Protection for 20 years more (One of the core conditions of the RCEP) - Rs. 6,70,000/- (US$ 9240). So a cancer patient who is able to take 8 Interferon Treatments over 9 months today will be barely able to afford a single treatment.". I am sure there are many more caveats in the agreement like this. How do you think china built its Manufacturing? Last I remember it was by protecting its domestic industries and making them competitive and yet exporting. As much as I agree with you on Lobbying, etc. Joining RCEP is a one way ticket to Economic invasion. Why rely on one RCEP when we can have favorable trade agreements with different countries individually. Both with the east and west.
To the people who are experts here, let me put some points -we want a good R&D base : but recruitment will be done on reservation an.d not merit - we want good healthcare - but doesn't believe in insurance as consider it to be responsibility of government -Doesn't want to take risk on our own: but expect government to create govt jobs - we will not go and check the facts - but will burn cities and destroy infrastruture based on false promises of our leaders - We believe to breed and reproduce 4-5 children's we no financial status to look after them- but ask govt to feed than , educate them , provide jobs to them and we will just reproduce Jai hind
Truth is Indian govt did not promote manufacturing and construction capabilities over the last 20 yrs. Now we are becoming protectionist. Modi in world economic forum said that there are three challenges to world. Terrorism Climate change And Anti globalisation. Now India not signing RCEP what has happened to him ? What will he say?
I can understand that, this was from the perspective of a consumer. But another point to note is the people in agriculture. Even though I work in IT sector, my parents and people back home depends on Areca plantation and peppers etc.. If India agreed to RCEP many of these families will get very low price for their crop because the Malaysia and other Asian countries would be exporting their crop at lower prices to India. This might have pushed thousands of families fall below the current middle class level. Everything is not black and white.
Agree with the analysis about manufacturing competitiveness & reforms, but India needs concessions from other countries as well for this to be a fair bargain.
Thanks for the analysis, Sekhar.I fully endorse all your views. We must all fully understand that our economics is LOUSY.While all the while our politicians hog media headlines by screaming populist slogans that further damage our economy. The point is not:should we reform? But how do we reform in our raucuous (and sometimes vacuous) politics? Who will be our second Narasimha Rao?
" Dur hato ye Duniya walo " accha laga. It simply explain many things. Problem is politics. It is affecting our all progress. We are doing politics in the name of farmer, poverty, women, Dalit, OBC, corporate, education, Army and so so many little things. And bitter truth is we are not qualified enough or less creative or take less risk. We can not sustain on the basis if history or our forefathers achievement. Research , creativity , entrepreneurship in young generation and emphasis on science , technology and exploding in new fields like marine industries must be seek. We should strength our basic infrastructure including environment. Global concerns must be taken care.
Fact of the matter is our rural sector who relies heavily on dairy and farming is not equipped to face competition from foreign markets. REPC would have been a huge blow for small farmers. Enormous pressure was built from the bottom on Modi.
I am a Modi supporter. But i am a through and through Capitalist, my next vote is for anyone willing to open up the whole country without the fear of competition, let's have it! There are trillions to be made, why are we holding back!
Some people are so happy that India didn't join RCEP.My advice don't be happy....We didn't join because our manufacturing sector can't compete with other asian countries.We need to grow our manufacturing sector.Because no one will wait for us.And with out opening market our economy can't grow also.
ritwik opening our markets in sectors that we are weak at will only cause outflow of revenue. The service sector in which we are strong is not a part of rcep. So there’s no benefit only loss in this agreement. Good thing we didn’t take it
Shekharji called a spade a spade. Interesting analysis which may not be liked by capitalists. Appreciate the fact that India is getting focused instead of Pakistan. Still you brought Pakistan in between your analysis. Like to see more India centric analysis in coming days.
Bought made in india branded suitcase in 1998.It was futuristic in design for that time ,sturdy and used for many years with lot of air travel without any damage.But this year I bought a indian brand luggage bag .All indian brand bags on display were made in China. They are just importing and putting their label.Heavy discount s were available.Though it was looking good but within six months have some damages after traveling by airline.
Wonderful explanation as always! One minor nit to pick: for every 'rupee' India exports to China, India imports '3 rupees' worth from China (my small push against the seemingly inevitable Americanization of Indian English usage).
It is wrong to say rupee because India and China don't trade in rupees. The dollar is the unit of economics because it is the world's currency. Sad but true
@@akshitbajaj1364 Fair enough. However, the US dollar has been the de facto world currency since the 1950s. Without offering evidence, I posit that thinking of all monetary transactions in dollar terms is a relatively recent phenomenon.
Modi did not sign it coz its called RCEP like Erogan's1st name, modi is hitting back at nations who support Pakistan ... Shekhar sir you missed this point
True lobbying is stopping innovation and zero incentives from Government {unlike in China}, Modi thinks he just needs to manage GST collections and forget about Renaissance 👌👍✔
Opening up to Chinese market will destroy Manufacturing base in India and eventually these manufacturers will end up in China making Chinese manufacturing base even stronger.
@@pavannoolvi4274 Only 2 people out of 1.3 billion? That is the definition of illiterates. USA has 300 million people and have American CEOs in atleast 400 of the top Fortune 500 companies.
@@pavannoolvi4274 only 2 relatives? All countries of the world send their people to the USA. USA has people from all over the world. No big deal if your relatives live in the USA. Btw, USA also needs slave labour to build their construction sector.
@@pavannoolvi4274 Nothing to be proud of that Indians are running away from India to come to the USA. That just shows that India is a pathetic place to live. Japanese don't run away from their country because they love their country. Japanese companies control the world in the automobile (Suzuki, Toyota, Honda) and electronics sector
India should focus on creating creating a digital economy tech startups should be encouraged so companies like Flipkart don't register in Singapore. India IT industry is service based it's time we make shift to be product based
Capitalism doesn't go very well with the emotional nature of Indians. You will never be able to sell the argument that your competitive merit will bring you better opportunities in the future even if it means a small debacle momentarily without hues and cries of "Oh, so many people lost jobs, the government is evil". We either need to change our attitude towards economics or change our political system to accommodate this emotion.
ur point on Certificate of origin is WRONG . certificate of origin stops rerouting of goods from FTA partner but manufactured outside FTA partner country
oh my god.. you are shekhar gupta.. and i thought of you as villain.. because of your portraying as anti-india by RWs.. i have watched many videos of yours recently.. and you really give great insights on various subject with great rationale.. someone who is always curious to know things around them you provide great satisfying service to them.. i hope you make videos in regional languages so it can reach to masses..you are indian equivalent to visualpolitik like channels.. keep doing good work!
It’s disappointing that economic discussions are politicised in India leaving Indian economy in jeopardy. RCEP could be a great step towards trade enhancement, strengthening ASEAN relations and creating new export market for India. But we are losing the real game. Politics and economic growth decisions needs to be taken independently. We need to take India forward by taking bold decision rather taking naive decisions and calling them bold.
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As an Indian I feel insulted that my country can not compete on a level playing field with 15 other Asian and Pacific nations. We should make efforts to erase this shortcoming.
The so-called 'level playing field is a myth. No country has the freedom that workers have in India. The so-called competitiveness/ productivity story is a myth. No one tells the truth about the heartless exploitation of the workers by the so called ' competitive economies'.
@Manish Erande it will be hard if we had uneducated politicians running the country , who will try to suck the money out if this sectors
We have failed manufacturing. If we lose anymore time we will lose our demographic dividend.
Need of the hour is to FOCUS on manufacturing, align with supply chains, or we will be left behind.
We manufactured enough people but not enough job... If we go by malthusian principle, having hands off approach would be a better bet than bringing more manufacturing jobs... For eg more strife in cow belt to force people to migrate and bring in remittances and skills
Rightly said
How can we create more jobs when the govt wants to tax the hell out of actual job creators.... Businessmen and industrialists are viewed as demons, yet much of the taxes and political campaign money is squeezed out of them....
@@i0am0fast how will there be any jobs if we import everything from outside? We need to increase tarrifs on finished goods.
Rightly said manufacturing should have been our focus in the 90s and 2000s , for a population such as ours only manufacturing can get people to work, services hire only a small number of people. This was so evident to me even as a young engineering student in 90s and 2000s , god knows what our leaders were doing then
It's like walking out of International cricket, and playing on Ranji Trophy matches, because the winner will be an Indian.
@Chirag Patel No. China would play in the domestic leagues of all countries till their own players have nowhere else to play but their own gullies.
Better than having a follow on in an international match and India losing by an innings.
@@bmm55 you think not playing is a better option?
@@bmm55 let's at least play. We may exceed our expectations.
Playing in the correct league is important if it is a matter of survival.Playing when knowing one is unprepared is foolish and dangerous in a merciless world, 'may' is a very uncertain and wishful thinking word. Nobody respects a loser nor will help him in the real world where everyone is playing to win.
Rule of the thumb. If opposition also support the move then it is bad for the country
😀😀🤓😄 Whose country?!!! Are you from India 😉🤔
Congress except Manmohan and Narsimha Rao is highly communist/socialist , their think tank included yogendra yadav, aruna roy, many from bengal, the home of communism, infact even today, many extreme communists control rahul gandhi, which is extremely dangerous for the country, to the contrast modi is pro capitalism but is bound by electoral politics,
Well said....one should also ask "what's the purpose ?" and "who benefits?"
@@rohitadhatrao6877
But, interestingly Congress liberalized the economy most. Even Vajpayee regime followed. Modi is going reverse. A lot of tariffs have gone up. He believes in big government
We need ENTREPRENEURS who can create jobs more than who can do jobs.
Yes my boy exactly.
Did you check the labour ,land and Tax red tape India? Plus the sky high rate of credit .
compare power cost of india & china & then archaic land & labour laws of india
@@rohitroll2119 lol you are here too
Check how troublesome the regulations and red tape is for the Indian entrepreneur first.
While this treaty was aimed at manufacturing and goods, which is inherently India's weakness . While it totally overlooked Services, which is India's strength. So India had a lot to lose with very little to gain.
Usual suspects
Our services is mainly with middle East USA or European countries not much with Asian countries
It will continue to lose despite not joining. That's the point of this video. Shekar echoed the same points that I was making yesterday. The loss of committing to change, reforms will come to bite India in a few years as India will continue to loose the competitive edge to the RCEP countries even faster than before. It will miss out on opportunities as Investors will think twice before wanting to come to India as RCEP is going to provide bigger and better opportunities.
I don't think we are great even in service
@@vijayanand1997 exactly. We mostly just have numbers, not necessarily quality when it comes to services.
Quote of the day
"Cricket and Bad economics unite India"
Now Football and Bad economics unite India.
#CricketSucks
Football..lol
U forgot modi.😂
@@Fredricksaviour football?😂😂😂which state are u from? Maybe in Guwahati or Kolkata...no other state in India watches football on a mass scale
China was N. Korea 40yrs ago, then leadership with a vision came into power. Because of continuous reforms, China has improved many of its citizens living standards. As I see it, India has a leadership deficiency.
It is one side story
i checked by blood for drugs when i heard bjp & congress agreed on something
"Shape-up or Ship-out" I like that line guptaji.
Why the ignorant shouting heads like Shekhar Gupta are considered experts by bigger idiots in India?
Same bro
@@vasukinagabhushan Nah...morons like you can never understand reason and don't posses the cognitive ability to do so.
@@shenanigans4177 Shekhar was speaking BS about biofuels and praising BT Cotton which shows he is a paid off cortupt misleading analyst. In the land of blind bhakts, any idiot can get few thousand followers.
As raghuram rajan called it, saving capitalism from the Capitalists
"creative destruction of Capitalism" loved the line.🙌
🤣🤣🤣🤣🤣👍
After day and night abusing big corporates this country people like u creat narrative like this...
Request you to read "Capitalism in America" by Alan Greenspan & Adrian Woolridge. Recent release.
Joseph Schumpeter
coined the term ... not gupta ji
@@KunalKrishna so you mean, Gupta ji isn't
creative enough, even to frame his own tag-line 🤔😀😉
Brilliant brilliant........analysis.
I loved it...very informative & to the point ....
Keep up the good work....sir
Didn't u read his yesterday's tweet...
@@parthachoudhury4332 I am not on Twitter
Condemning all sides of Indian politics at same time, Fearless & Great Journalism by Gupta JI.
Why the ignorant shouting heads like Shekhar Gupta are considered experts by bigger idiots in India?
We need the land reforms bill asap in next session of parilament ..
How will the the government ask companies to setup huge manufacturing factories if there is no land in governments control ..
Look at what happened to the armco unit and nuclear power plant which was propossed in maharashtra ... People agitated , politics happened and projects stalled .
They can buy lands directly from the people.
Bro in MODI 1.0, land acquisition bill was on of the first bills introduced in the Parliament. Congress and Left protested so heavily, and instigated farmers, ultimately the government had to withdraw the bill. Anyways, Aramco is now moving to a different location, the Saudi oil minister and Maharashtra CM has confirmed it.
@@newsupdates3622 exactly, it is sad that such a strong govt is not getting stuff done and is getting distracted .
@@VipinKumar-kh5bd exactly , i know that ..
Big companies already have land for themselves.they should utilize it
Sir I am follower of your analysis. Your today's analysis remind me of one article from the Hindu last week. It was also advocating for free trade instead of trade protectionism.
Though I have a different take on it , now is not the right time for us to compete with China in manufacturing sector. We need to be more competitive in terms of efficiency and price. We need to build business culture , more focus on make in India project. It is wise to take more time rather than to knock out early. India should aim for free trade agreement with Europe. The talks are on the plate. We cannot afford to be more import dependent that at the end of the day hurt our current account and increase the deficit.
@Krishnan Unni Madathil after 200 years of colonial rule it was very difficult to recover so fast. A nation needs time to develop. US took around 150 years to be a global power after independence. Actually british had left us with nothing. We were zero with resources. It is possible for India only to stand up after repetitive invasions from ancient times. We all will do it together.
@prakash n it is not that easy for India to get the investment in terms of fdi as our culture doesnot support business. During trade war of few months back many companies shut their manufacturing unit in China but they didnt come to India rather they prefer asean countries over India. We need to work on our infrastructure. Red carpet has to be provided instead of Red Tapism.
@prakash n if we achieve what could be better than that but it seems a far distant. To achieve 5 trillion we need to grow at double digit but right now we are stucked at 6 %. To be rational is better than optimism.
No one seems to pay attention to the fact that competing with China is never on a level playing field.
Talks with EU have been on for years. It will most likely never go anywhere. Even if it does it will be very limited in scope. The EU will want much tighter regulation, labour laws, quality standards, IP etc. India will have a tougher time than we had here in RCEP is getting a deal though. These socialists will get us nowhere.
In other news, Congress is trying "desperately" to take credit for India's decision to not to join RCEP, citing serious "opposition" raised by Rahul Bhaiya and Priyanka didi. :)
Found another idiot wasting time on congress vs bjp. That's what china wants which is why they have 1 party system.
@Akarsh not joining rcep is blessing in disguise. India doesn't have manufacturing capabilities as of now to be able to be globally (or even regionally) competitive. One pressing reason for this we somehow seem to miss is the incessant desire of people to run after govt jobs and not innovate, take risk which goes back partially to the quality of education.
@@yog-sadhna3415 dude political parties shape ideas. Criticising them is not akin to wasting time.
China also wants one party system to curb dissent,FOS. And not to focus its resouces on growth. You want that?
@Akarsh Yep even Chinese brands have started to manufacture phones in India.
@Akarsh fair enough. I agree. But it is also easy to criticise Indians for not doing anything or not being woke enough, right? If you want to look at the bigger picture, you need to emulate a system where innovation, competition is not only respected but also nurtured. To be able to do so, political, eco system and most significantly education system needs to pace themselves with time. Since, political parties are what drives a political system, I don't think you can ask anyone to put India first without criticising the political setup.
“And this is not alphabetical because India have to come first” 👍
There should be no smirking before saying India first
He is taking about asean countries!
We are not competitive.... a simple truth....
Wrong ...we are not yet prepared for competition...still long to go
@@ratish76 ..lol
Even asean they already have 3++T gdp nominal more than india is just 2.9++T..with population just 600+ million..
Why to compete in over producing? We have millions of farmers feeding us. You want them to export, but will they earn more from it?
@@vish2bnice BiG BrAiN TiMe. lol
@G Joeye ..hahha hey dude...like example even indonesia in 1998 they already bankrupt...lol
Fantastic sir! The best you’ve done so far. I’ve only been critical of you so far, unreserved applause for the first time. 👍👍
Bhakts are getting cured. Good news.
@@satyapriyadarshi93 Congress and all opposition have also adopted bhaktism? You learn something new everyday
Joining recep at this time would have hurt a lot than benefits we already having FTA with most of these nation we are losing
I differ with you Gupta ji. This is not 1991. We have all the tech and other skills to start our own business with exceptions of weapons for sure. So, all we need is a mix of protectionism and open markets so that, if we can't export we can flourish by meeting Indian demands.
Opening is good, an example . Suppose I want to buy an electric scooter and want to renew my house or office but I ve 60000 only. Now I buy hero electric at 40000 and can't go ahead with just 20000 for rennovation ,whose in loss? Majdoor, Mistry, cement shopkeeper etc. Now after RCEP I bought a Vietnamese scooter for 3000 which is more efficient than Hero in a sense that it charged fast, longer distances etc. Plus I can renovated my office which means the saved money is spent in improving economy after I employed majdoors.
Mr. Shekhar Gupta, you have a new subscriber. You nailed it when you said that "there is no national pride in an inefficient company surviving forever ". Our protectionism policies have hurt us pre 1991 era and we're moving again in the same direction. Our industries need to either perform or perish.
Very humiliating that a country like New Zealand- which has an insignificant landmass when compared to India- can destroy Indian diary sector by just exporting 5 per cent of it's total production. Ridiculous!
I'm studying in Italy, here in Italy every product have the logo "Prodotto in Italia" "made in Italy" with italian flag. Italians never touch any product without this logo. if one brought without this logo, his friends will mocking him calling terrorist , anti-nation, traitor etc,,,. but we Indians never care about the product of origin.
government should take steps to include genuine verified logo "product of origin" we can even use states name like,
product of maharastra, product of Kerala, product of hariyana, productt of assam, prodect of rajasthan, etc, with indian flag/
whatever, it's citizen, more responsible than the government. i hope atleast whoever watching this video will take steps in their life
Look at Italy.....how they are suffering now.....look at un-employment levels in Italy.....
😂😂😂😂😂😂😂😂
Thats what I would call journalism! Thank you sir.
We have wasted so many years after independence... it's sad to see the state of the country as compared to other nations who gained independence at the same time...
@waqas ahmed Congress is the reason lol.
None of the companies you mentioned post 1991 are manufacturing companies.
That's the sad story.
I am not against the reforms but India needs to seriously rethink on manufacturing industry.
We are very bad at manufacturing
He mentioned "hindustan motors"
@@shubhankarvashistha6230
No,
I am saying that he mentioned Infosys, tcs etc after 1991.
But didn't mention any success story in manufacturing sector.
You might say Tata, Mahindra but none of them are that good at Engine manufacturing capabilities
@@abhishekjoshi4648 yes sadly that's true😓
Sekharji there is a key difference between 1991 liberalization and RCEP. Firstly the Chinese do not provide equal access to their market to anyone. Secondly the other markets are too small to be of any significance be it Australia , NZ and other ASEANs nations. Please look at the world now all major countries are using access to their markets as major conflict resolution. When Balakot happened Pakistan blocked its access to its market same about US. We also did the same with Malaysia and Turkey. The idea of an open access to nations market is not a level playing field.
It seems By not joining RCEP India has missed the opportunity to reform our economy as Manmohan Singh did in 1990 . Modi Jee you have Missed a step to make India a 5 Trillion economy by 2024
Being a political economist, please see why New Zealand wants to export to India. Fonterra over produces 19 times more than their domestic demand. They just create huge inventory and then find countries to export millions of tons of milk powder in few months. Our concerns for dairy were not addressed in RCEP. Milk is a major & daily sources of cash flow to rural area. Why you find our farmers inefficient?
Let us take a moment and appreciate PVNR and M singh !!
Excellent speech in simple language.How many Indians know this RCEP?.Even BJP has forgotten their original agenda that is Development and good governance. I hope Lord Rama will help us.
In my opinion without India RCEP will be useless..Most of the countries here are manufacturing hubs who needs market for their goods.. India would have been the big market for them. They would have gained much if they looked into Indian main concerns.
we missed the train again, I think China would be rather happy with this, considering India's Act East policy is going nowhere and now India is completely isolated
Nope... We were saved from China...
RCEP will isolate India on trade and strategic fronts, bring closer to China, in future Pakistan may well join RCEP and make trade harder for India
@@arb5529 You are living in Fools Paradise my dear friend... Every Country want to do business with India because of a big middle class...
If we would have joined RCEP our middle class would have suffered more...
@@AS-qt2qx well I don't think India is that favored, look at Bangladesh, Vietnam. Just having a big population doesn't work. India falls off from the business opportunity radar all the time, India is known for missing opportunities.
@@arb5529 Bangladesh has a big Textile Manufacturing Sector, while we don't have a Manufacturing Sector compared to our GDP... So we didn't have much to gain we are better in Services...
If you just google out India has trade deficit with almost all RCEP countries, without Services this Trade Deficit would have worsened.
What we need is a foothold in African market...
That's a big problem. The protectionism in Indian governments is still present. While BJP portrays itself as a Right Wing party, in my opinion, BJP is just another Congress under a Hindutva wrapper (Congress is BJP under a Secularism wrapper). BJP's economic mindset is just as Socialist and Protectionist as that of Congress.
It seems to me that the current BJP govt., just like Congress, doesn't have the guts to improve the Labour Laws and intoduce Land Reforms. They'll just try to get away with Populism and Demagoguery.
If the current Protectionism still carries on, then India will not be able to become a Developed Country by 2100.
Unless you get in to water you won't learn swimming.
Without learning swimming in shallow water if you straightaway dive in deep water ,you will drown
We must have FTA with European Union and american countries.
@megakids yep our product cant even compete with their standards.
I wish a travel to alternate reality where the government had decided to join RCEP
i would have loved to see this man explaining it then 😆
Please also declutter the Azadi March going on in Pak !
Enough of Pakistan.... Irrelevant topic
@Nirmal Sharda exactly brother, these idiots still obsess of pakistan when we are losing the race to china.
zee tv pe jaa ...vha ki gand yha mt lao.. badi mushkil se quality journalism mili h
A real Indian patriot. Fair and very unbias analysis. Tariffs are only good for short term goals. Any implementation of tariff must accompanied with a scheduled roll back to ensure that the protected industry make efforts in making themselves more competitive.
Fully agree with you sir!! We have not work at all with our structure issues, making us zero competitive. Government is always busy with something rather than socio-economic challenges.
If we Indian industrialists are not sincere and honest then why to blame others for our weakness. On other side if our child is weak we don't throw him away take others strong child, we have to deal with our own child what ever may be consequences.
SG: Narasimha Rao didn't bow down to pressures
Me: He doesn't have any other option. IMF forced him to do so
Bharat import Jada karta hai export kam karta hai, RCEP joint nahi karna thik hai. Waise bhi MODI JI ko samajna mushkil hi nahi namumkin hai.
India is ready Sir others are not ready to absorb our extremely competitive service sectors
We r not competitive becoz we did not invested in research and development.
@megakids If you kill the upper class, they will kill you. Do you want bloodshed?
Awesome essay.......i mean seriously great editorial and another point of view
I wish Shekhar Gupta was my class teacher :-) All subjects would have been so clear !
You can also achieve such a result with the ease of availability of study material including online provided you have a daily, monthly and perodical plan and willingness and support. Don't look for help outside always but help yourself. All the best.
Hariharan Kailasanathan - makes sense. Thanks. But yes it helps if someone cuts the clutter and explains 😊
I was just curious how come the other emerging asian economies like Indonesia, Malaysia,thailand etc were so willing to join the RCEP given that the big panda China is in the house! How are they planning to tackle this manufacturing monster ? Perhaps India could have learnt from that and I was expecting Shekhar to talk about it, unfortunately he missed that .....
They must have decent exports plus the population of these countries is quite low.
To add to the above comment, the have better environment for manufacturing, more business friendly land and labour laws. So their experts could benefit.
Apart form Malaysia, all other south eastern economies have a huge trade deficit with China, and yes even in ease of doing business index, it's only Malaysia with impressive 12th rank. How are Indonesia, Thailand, Philippines going to check China their economies are as vulnerable as India's. Shekhar should do an episode to cut this clutter as well.
Let me tell you why. China is undergoing industrial upgrading. Some labor-intensive enterprises like cloth/shoes/assembly factory need to find new production bases. When tariffs fall, they can transfer to ASEAN and sell back to China. In this way, ASEAN can solve employment, increase tax and export, and balance trade deficit with China. In addition, China needs ASEAN's agricultural products and seafood to reduce domestic food prices. So for China and ASEAN, this is a win-win business.
Because ASEAN country like Indonesia, Singapore and others is the one who made, initiated, and negotiated with all country. Is not China made bloc but ASEAN made bloc
Even China ditched a core principle of communism for capitalism during their reform period. Our Indian politicians and businessmen are so scared and inept in the eyes of the world. And the eyes of our people.
Both sides have reasonable arguments but i think we can all agree that india was not ready to join RCEP in its current condition but if sweeping reforms are done then we should definitely join it in the future.
I wonder why the other RCEP members were unwilling to budge on opening the Services sector where our real strength lies. e.g. IT,Financial,accounting,consulting,legal,etc. Why does Indian pharma face so much non tariff barriers in china ??
This gentleman will play the story exactly opposite if India signed in it.
Superb incisive program, as always. However, while it sounds great to say that India should be bold enough to embrace RCEP, and face Chinese competition, do note the following which an economics expert has blogged -
The Price of a New Interferon Drug in India is Rs. 85000/- (US$ 1180) for a Generic Manufactured Drug which is 95% as effective as the original. Do you know the Price for the same drug - If India agrees to protect the Patent Protection for 20 years more (One of the core conditions of the RCEP) - Rs. 6,70,000/- (US$ 9240).
So a cancer patient who is able to take 8 Interferon Treatments over 9 months today will be barely able to afford a single treatment.
If the above is true, then from a perspective of Drugs and Medicines alone - the RCEP would have been a huge disaster for India.
From 2012 India didn't prepared. Pulled out of RCEP. Pulling out satisfied many nationals but India will suffer because of 15 country RCEP.
Indian products has no competiveness.
In the middle of it WITHOUT ANY HOMEWORK, demonitirisation happened.
A country capital don't have air to breath, what more a country can have shame.
Beef, cow, lynching, mandir-masjid, pulwama- balacoat, Rafael- S 400..... these are the important issues!!!!
Is the India-EU trade deal less likely as a consequence of the bipartisan consensus on RCEP? Because , on paper the major obstacles in the way of India joining RCEP are absent -- 1. No yawning trade deficit 2. Better chances of compromise on movement of people(Services) . But on the flip side the ginormous subsidies given to the agriculture sector may prove to be a sticking point
I appreciate your confident opinions on Economics with lack of knowledge Economics.. it is easy to give speculative talk on Politics where no expert know how is required... 😄
Your analysis is better than Indian main stream media. Main stream media are busy blaming China. I don't know what's wrong with Indian media.
Modi’s 56 inch chest chickened out against international competition and international pressure. I wonder how he will make a 5 trillion economy if we are afraid of competition. Remember in 90’s when congress imposed economic reforms similar criticism was made but the Sardars Chest was wider and he made sure our economy was opened up and we are reaping the benefits of his policies
-Make in India' is a wrong concept. It should be ''Design in India'
Bro u r super
other day i saw that Redmi phone with the mark Made in India.
Companies are dying not because of competition but because of corruption.
Here is a list of reasons why India should not Join RCEP (or postpone joining RCEP)
1) Services are not a part of the deal which was one of India's Demands and is India's Strength.
2) India Already has Free trade agreement in place with most of these countries.
3) RCEP gates are always open.
4) Dairy Industry is supporting millions of farmers by providing them supplementary income. Removing this income from farmers hands can prove very bad in financial inclusiveness of farmers.
5) India has for the first time in its history put the pedal to the metal in manufacturing aggression in last couple of years. Its still in the infancy. You don't take an infant to a war, you take a young man to a war and the war itself turns him into a warrior.
6) As one other commenter Jaideep Chitnis mentioned "The Price of a New Interferon Drug in India is Rs. 85000/- (US$ 1180) for a Generic Manufactured Drug which is 95% as effective as the original. Do you know the Price for the same drug - If India agrees to protect the Patent Protection for 20 years more (One of the core conditions of the RCEP) - Rs. 6,70,000/- (US$ 9240).
So a cancer patient who is able to take 8 Interferon Treatments over 9 months today will be barely able to afford a single treatment.". I am sure there are many more caveats in the agreement like this.
How do you think china built its Manufacturing? Last I remember it was by protecting its domestic industries and making them competitive and yet exporting.
As much as I agree with you on Lobbying, etc. Joining RCEP is a one way ticket to Economic invasion. Why rely on one RCEP when we can have favorable trade agreements with different countries individually. Both with the east and west.
To the people who are experts here, let me put some points
-we want a good R&D base : but recruitment will be done on reservation an.d not merit
- we want good healthcare - but doesn't believe in insurance as consider it to be responsibility of government
-Doesn't want to take risk on our own: but expect government to create govt jobs
- we will not go and check the facts - but will burn cities and destroy infrastruture based on false promises of our leaders
- We believe to breed and reproduce 4-5 children's we no financial status to look after them- but ask govt to feed than , educate them , provide jobs to them and we will just reproduce
Jai hind
Politicians have to understand that trade is always beneficial be it import or export.
Truth is Indian govt did not promote manufacturing and construction capabilities over the last 20 yrs. Now we are becoming protectionist.
Modi in world economic forum said that there are three challenges to world.
Terrorism
Climate change
And Anti globalisation.
Now India not signing RCEP what has happened to him ? What will he say?
I can understand that, this was from the perspective of a consumer.
But another point to note is the people in agriculture. Even though I work in IT sector, my parents and people back home depends on Areca plantation and peppers etc.. If India agreed to RCEP many of these families will get very low price for their crop because the Malaysia and other Asian countries would be exporting their crop at lower prices to India.
This might have pushed thousands of families fall below the current middle class level.
Everything is not black and white.
Agree with the analysis about manufacturing competitiveness & reforms, but India needs concessions from other countries as well for this to be a fair bargain.
China : Next superpower
India : ....... Ghanta .....😂😂
Thanks for the analysis, Sekhar.I fully endorse all your views. We must all fully understand that our economics is LOUSY.While all the while our politicians hog media headlines by screaming populist slogans that further damage our economy. The point is not:should we reform? But how do we reform in our raucuous (and sometimes vacuous) politics? Who will be our second Narasimha Rao?
An extremely insightful piece. Please keep it up. Congratulations to all who did the research
" Dur hato ye Duniya walo " accha laga. It simply explain many things. Problem is politics. It is affecting our all progress. We are doing politics in the name of farmer, poverty, women, Dalit, OBC, corporate, education, Army and so so many little things. And bitter truth is we are not qualified enough or less creative or take less risk. We can not sustain on the basis if history or our forefathers achievement. Research , creativity , entrepreneurship in young generation and emphasis on science , technology and exploding in new fields like marine industries must be seek. We should strength our basic infrastructure including environment. Global concerns must be taken care.
Fact of the matter is our rural sector who relies heavily on dairy and farming is not equipped to face competition from foreign markets. REPC would have been a huge blow for small farmers. Enormous pressure was built from the bottom on Modi.
Finally good to hear from someone who knows what he is talking about.👍
I am a Modi supporter. But i am a through and through Capitalist, my next vote is for anyone willing to open up the whole country without the fear of competition, let's have it! There are trillions to be made, why are we holding back!
Thanks you sir... Excellent episode... No other channel talk about opportunity in such details... I really welcome such videos related to economy
Some people are so happy that India didn't join RCEP.My advice don't be happy....We didn't join because our manufacturing sector can't compete with other asian countries.We need to grow our manufacturing sector.Because no one will wait for us.And with out opening market our economy can't grow also.
ritwik opening our markets in sectors that we are weak at will only cause outflow of revenue. The service sector in which we are strong is not a part of rcep. So there’s no benefit only loss in this agreement. Good thing we didn’t take it
God bless you for explaining things nicely.
It's not beneficial for India right now.
But a very good option for China to cement the gap which it got from US China Trade war
Shekharji called a spade a spade. Interesting analysis which may not be liked by capitalists.
Appreciate the fact that India is getting focused instead of Pakistan. Still you brought Pakistan in between your analysis.
Like to see more India centric analysis in coming days.
Great analysis. We need new reforms to make Indian industry competitive.
I hope the government wakes up.
Very interesting review and analysis, I really thank for the right perspective you presented.
thing is we want quick results we don't want long term solutions secondary sector needs alot of helpppp
Bought made in india branded suitcase in 1998.It was futuristic in design for that time ,sturdy and used for many years with lot of air travel without any damage.But this year I bought a indian brand luggage bag .All indian brand bags on display were made in
China. They are just importing and putting their label.Heavy discount s were available.Though it was looking good but within six months have some damages after traveling by airline.
Wonderful explanation as always! One minor nit to pick: for every 'rupee' India exports to China, India imports '3 rupees' worth from China (my small push against the seemingly inevitable Americanization of Indian English usage).
It is wrong to say rupee because India and China don't trade in rupees. The dollar is the unit of economics because it is the world's currency. Sad but true
@@akshitbajaj1364 Fair enough. However, the US dollar has been the de facto world currency since the 1950s. Without offering evidence, I posit that thinking of all monetary transactions in dollar terms is a relatively recent phenomenon.
Modi did not sign it coz its called RCEP like Erogan's1st name, modi is hitting back at nations who support Pakistan ... Shekhar sir you missed this point
🤣🤣🤣
daddy of conspiracy theory
Lol. Kuch bhi . Turkey is not in ASEAN . China and Malaysia are.
😂🤣🙏
Should India withdraw from the BRICS trading bloc to teach the brick and stone throwers a resounding lesson?🤣🤣🤣🤣
Thank you Mr. Gupta for the insight
True lobbying is stopping innovation and zero incentives from Government {unlike in China}, Modi thinks he just needs to manage GST collections and forget about Renaissance 👌👍✔
The print brings quality content
Opening up to Chinese market will destroy Manufacturing base in India and eventually these manufacturers will end up in China making Chinese manufacturing base even stronger.
It's necessary for.india as it gets competition otherwise india will never grow
We have too many humans to export..😂😂
Not humans, but beggars and illiterates.
@@pavannoolvi4274 Only 2 people out of 1.3 billion? That is the definition of illiterates. USA has 300 million people and have American CEOs in atleast 400 of the top Fortune 500 companies.
@@pavannoolvi4274 only 2 relatives? All countries of the world send their people to the USA. USA has people from all over the world. No big deal if your relatives live in the USA. Btw, USA also needs slave labour to build their construction sector.
@@pavannoolvi4274 Nothing to be proud of that Indians are running away from India to come to the USA. That just shows that India is a pathetic place to live. Japanese don't run away from their country because they love their country. Japanese companies control the world in the automobile (Suzuki, Toyota, Honda) and electronics sector
@@reardelt there is more Indians immigrants in Western countries. Stupid wtf atleast use ur brain or Google search . Or keep saying "only 2 2".
India should focus on creating creating a digital economy tech startups should be encouraged so companies like Flipkart don't register in Singapore. India IT industry is service based it's time we make shift to be product based
I think if government would have agreed to RECP than this guy would have made exactly opposite narrative blaming government... Think over it..
Capitalism doesn't go very well with the emotional nature of Indians. You will never be able to sell the argument that your competitive merit will bring you better opportunities in the future even if it means a small debacle momentarily without hues and cries of "Oh, so many people lost jobs, the government is evil". We either need to change our attitude towards economics or change our political system to accommodate this emotion.
ur point on Certificate of origin is WRONG .
certificate of origin stops rerouting of goods from FTA partner but manufactured outside FTA partner country
Don't forget that 70 L crore rupees Indian money is sitting abroad.also Indians have 50 ,000 tonnes of Gold.How come we are poor still?
oh my god.. you are shekhar gupta.. and i thought of you as villain.. because of your portraying as anti-india by RWs.. i have watched many videos of yours recently.. and you really give great insights on various subject with great rationale.. someone who is always curious to know things around them you provide great satisfying service to them.. i hope you make videos in regional languages so it can reach to masses..you are indian equivalent to visualpolitik like channels.. keep doing good work!
It’s disappointing that economic discussions are politicised in India leaving Indian economy in jeopardy. RCEP could be a great step towards trade enhancement, strengthening ASEAN relations and creating new export market for India. But we are losing the real game. Politics and economic growth decisions needs to be taken independently. We need to take India forward by taking bold decision rather taking naive decisions and calling them bold.