Can India be the Next China? Not With Modi’s Present Policies Which Are Obstacles-Arvind Subramanian
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- Опубликовано: 31 май 2024
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In a 36-minute interview to Karan Thapar for The Wire, Dr. Subramanian, who is presently a Senior Fellow at Brown University, began by saying, that “popular assumptions about a booming economy … (are) inaccurate”. He points out that India’s rise “faltered after the 2008 global financial crisis and stalled completely after 2018”. More pertinently, “India’s annual growth rate over the past three years has been just 2.5%”. This is way short of India’s 7% potential.
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It's an insult to even compare India on the same level as China.
When you have been to India you know this will never happen. I do not understand why India keeps comparing itself to China. The only comparison I see is India and Nigeria.
Dr. Subramanian, an Oxford PhD, said that “India is reasonably prosperous.” Did he check it with the two thirds of India’s population that cannot meet its basic needs and is thus poor? And Cambridge educated Mr. Thapar, who, according to his Wikipedia, “is noted for his aggressive interviews with leading politicians and celebrities,” did not question it. Both Mr. Thapar and Dr. Subramanian want to treat the poor two thirds of the population with benign neglect when neglect is never benign.
Statistics even when hunky-dory do nothing to reflect the real picture. Because it is popularly believed 90% of the country's wealth is owned by 10% of the population.
China didn't stifled India's economic growth. China did invite India to participate in the BRI but for reasons best known to India, India refused. Instead India rather worked with the US to build an alternative costing $400 billion. Honestly I don't see that happening as a bankrupt US won't be able to finance it. It's also too little too late as China's BRI is already 10 years ahead with some $ 7 to $10 trillion expended depending on whose figures you are looking at.
Modi has no vision for nation only politics is all that matters for him nothing else.
Modi is only interested in creating disunity among his people. A PM of a country with a population of 1.4 Billion plus people must be the PM of all the people. Unfortunately Modi seems to identify with the Hindu Majority only. He also seem to be very well connected with the ultra rich Hindu community with whom he interact on Governments business which compromises him. (Rafael...France). This behavior towards Minorities unfortunately it is not Modi's fault completely but rather to the fact that he is not sufficiently educated so he is clutching to the narrow vision in which he grew up which laid emphasis on tribal and cast system which thus leeds him to a Facist type of reaction towards his Minorities. If India wants to be like China this has to change so that all Indians irrespective of their religion or cast feel inclusive and pull the rope of progress in the same direction.
lol..kids😂
Absolutely correct interview. Let us all be patriotic and call these two people anti-national for speaking the truth.
It is a democracy. Arvind has to acknowledge that Modi is taking India closer to China than UPA would have
@@srinisbir8781 Nah lol
@@srinisbir8781 If you think that Arvind has to acknowledge anything, let alone the supposed success of India, rather than show the facts as they are, then you either don't know how economics works (it's not like tarot card reading / astrology) or you didn't watch the whole interview (which clearly stated that the facts are contrary to what Modi and his ilk have been promoting).
@@tstcikhthys then why is India slated to grow at 7% ending the fiscal year in March next year? At least India is publishing some data, China has stopped releasing any form of statistical figures about its economy. India is slated to grow second highest only behind Saudi Arabia. What else do you want? We know how fast India was growing under Arvind, when he was CEA.
@@srinisbir8781 Lol dude, that question's answer is also in the video. Seriously, did you watch the video? COVID took an already flailing economy completely into the drain, so we're starting from a really low base in 2021-22, so of course it's going to be higher to _get back to_ where we were. Going from 5 to 10 is a 100% increase, but going from 10 to 15 (still +5) is only a 50% increase; it's how maths works.
Visited Vietnam recently. They have already taken over many of the Chinese manufacturing sector. Chips, mobiles, electronics etc. Huge external investment happening assuming Vietnam is going to snap a big chunk from Chinese. The rebuild done to ho chi Minh City in last twenty years(after US removed sanctions) is amazing. Population and size almost equal to Bangalore. But with proper big roads, Infra, sewages, planned areas. Looks more like Dubai.
And in India we are taught India is more developed than Vietnam. Wierd
Vietnam is a dictatorship. In India, WIRE is already getting their panties in a bunch that Modi govt. is dictatorial. You tell me if it is wise to compare India with Vietnam or China.
@@srinisbir8781 read it as "even after being a dictatorship who ideally shouldn't care about people"
Yes the Vietnamese are very smart. They maintain good relationships with China so China trusts the vietnamese. They transferred their operation there because India blocked China. This operation should have gone to India but the bad relationship slow Indian growth. I really think Vietnamese are smart to have a good relationship with China. China uses Vietnam to manufacture low end products and China makes the higher end
@@alyasagan3620 where is India growing slow? In the top 5 economies, India's growth is the highest. Stop spreading rumor.
This is the result of working closely with China. India rejected cooperation... Vietnam now has decided to follow China railway rail gauge to improve transportation between China and Vietnam... Yes Vietnam is smart to work with China closely .
Politically connected oligarchs will ultimately drive away competition in any sector they involve themselves..
That was always so.
Modi shows insecurity in holding on to power by driving the Hindu Muslim narrative and clamping down on any form of criticism.
Unfortunately a lot of Indians buy into that as well being extensions of that stupid projection. Indian education needs to teach people to develop critical thinking abilities or this country is already doomed.
@@kkdias9924 yep nd this is the exact reason u should leave India ...y not try pakistan or Afghanistan
Thank you for this interview with eminent economist.
esay do takey k economist bahut dekhe hai ....
Godi interview 😂😂
@@bw8026 yeh log toh purane sarker k godi hai ...... bjp ko toh yeh 2nd term main malum para ....
This eminent economist used to work under Modi government bashing Raghuram Rajan from his time in UPA.
Policy instability is a matter of concern and this cannot be argued against. Uneven playing field is a cause of concern and will put of both foreign and local investors. Arvind Subramaniam is spot on .
It’s always puzzling to me why the Indian media is so anti-China. I get that there is border dispute between the two nations. Perhaps it has more to do with the troubled relationship between India and Pakistan and the fact that China has a friendly relationship with the latter. In any case, it behooves the leadership in India and China to focus on friendship and cooperation instead. The two neighbors could both benefit greatly and rise together.
As to the discussion, it’s curious that the premise is that China is on a downward spiral, soon destined to be in the dust bin of history. I wouldn’t bet the farm on that to be the case. China has too much momentum and too many good things going for them even under the aggressive US containment/disruption strategy against it. The Chinese leadership has long anticipated hostile actions from the US and has therefore diversify its relationships and trading partners. I think India should focus more on what it needs to do and improve, to expand its growth and reach on its own merits. Betting against China is unnecessary and unhelpful because it distracts from what India really needs to do.
Because It's jealousy of a failed nation which continously wanting to destabilize the peace in the region.
Its always puzzling to me how someone can ask a wellwisher to be friend again after backstabbing him on multiple occasions like galwan, 1962, 1967 etc
They are jealous and cannot match China in any field. I am from US and have travelled extensively from HK, Nanning, Guangzhou, Shenzhen, Shanghai, Dailan, Chongqing, Beijing and Macau. I have seen what China has achieved and took the HSR from HK to Shanghai. Indians talk, China does. Their hatred for China can be changed, it’s not permanent.
@@satyakammisra rubbish kumar fan detected, opinion rejected
@@aadityaranjan2159 then cut off one's nose to spite one's face, like USA?
If China is declining and if major economies including UK, Japan are declining, that means the demand from rest of world is also coming down. In such a world, where demand is reducing compared to the pre pandemic (pre 2020) levels, how can we expect India only to grow at 7% clip?
If the world growth is happening at 4%, expecting India to grow at 7% is fine. But if the world growth is slowing from say 4% to 1 or 2% how can we expect India to continue to grow at 7%?
Well China was growing at 10% minimum (at times 15%) for decades, when the world was growing on average 3 or 4 %.
This is because in spite of lack of English they are hard working, efficient, smart, stable, innovative and has first class infrastructure, rails, ports roads and political climate to ensure great profits for foreign firms. Even the forced decoupling is not working.
@@truthmatters2782 also they r not a democratic country... in India many atal Ji projects had to stop midway as their party had lost the election nd congress didn't really care about those projects...modi govt. Has resumed those projects
@@truthmatters2782 Chin's growth at 10% two riders (a) statistics fudging.... not to say China did not grow but its official statistics cant be trusted, (b) when China was growing at 10%, globalization was full on and world was growing at around 4%. 7% now will be unprecedented. !!
With mental gymnastics, that is possible.
Very insightful. That's how media should work
Yes India will not be able to replace China with present Modi's policy but
With present Modi's policy India going to replace country like Central African Republic, South Sudan etc.
Yea replace then as highest in child mortality and female maternity deaths
Vinayak, visit the nearest mental hospital and get yourself checked for treatment, good for you.
😄😄😄😄
Mind Begs the Question:
If a PM/Govt Secretly accept political funding from Foreigners
Nation Secure - from Foreign Influence
Nation Vulnerable - to Foreign Control?
Er South Sudan?? What is Central African Republic?? You’re comparing India with the lowest common denominator instead of the highest. This is exactly probably the thinking of the present Govt.
Nice discussions but I think ground realities are totally different, some reasons to disagree are;
1. Infrastructure in India is around 30-40 years behind than China in all aspect which is a main reason of good transportation.
2. The technical labour force is not available so it will take at least 5-10 years to reach the basic requirements.
3. China has a very stable govt with no opposition so policies are consistent and long term while there are so many political parties in India and ruling different provinces so very difficult on mutual consensuses.
4. There are so many Economic zones in China which were started to develop around 40 years back and now there are many economic zones.
5. BRI is linked with more than 150 countries, which means billions of projects are underway and some are already giving benefits to the economy.
6. Chinese companies are busy all over the world in infrastructure development, 5G, Telecom sector, Railways, dams, motorways, electronics.
7. 80% of world electronics are made in China, so it will take years to replace, and by that time Chinese mobile companies will be everywhere and apple is expected to go down.
8. China is leading 5G, AI, Drones, solar energy, wind energy, electric vehicles, electronics, space technology, nanotechnology etc, while India has to do a lot.
9. For the first time in history there more Chinese universities than US universities in world top 2000 universities, and this number increased dramatically in last 5 years, while India is so behind.
10. China is mostly self sufficient while India is depending on outer world for many things..
These are some examples and overall still many fields where India is very behind, and there is no field except population where India can cross China in coming years.
Extremely well put. It just might puncture the day-dreaming in India.
1. TAIWAN is way ahead with Infra structure - what is the use .. Military should be strong
2. Technical force was there in 1970s to 1980s -- Collapsed due to easy money in IT .. Skill builing can be done pretty quickly -- develop resepct for skill and wage parity with IT
3. China is Communist -- Nothing called stability -- Its force there -- Hence does not apply to BHARAT which is democarcy
4. SEZ is difficult to develop -- Land aquisition act was tabled in 2016 keeping in view of easy aquisition of land by government -- It was stalled as opposition did not want to support
5. Technology wise CHINA is ahead -- India is not far behind being poor country and cemicracy the progress is remarkable
6. elecrtonice have been taken as priority under PLI scheme -- It will develop -- we want people to look up and not always cretizise
7. India is known for honest talent -- Given a choice American Company will trust Indian more than others - Talent Indians are the best overall
8 . Atma Nirbar is for self sufficiency -- defence export is incerasing multifold - TATA MOTORS is truly global company -- BAJAJ AUTO sells 40 % of their product in South American market -- Next big thing is Basic chemical Raw materials which wil come through
India is there every where despite toomuch negatvity around -- PM MODI is force behind all the succcesses - Let us support him
@@spg6651 1. Taiwan is smaller than Shanghai in terms of GDP, and infrastructure is way behind than main land China. I have been to both so I know the difference very well.
2. Skill development and technical education as per demand of big country is not that much easy, it takes time and also will.
3. Therefore, I said stability because CPC has a continuous and meritocratic system where all the top leaders reach there through tough civil service exams and also need to prove their abilities at grass-root level, city level, provincial level and country level. Just check the profiles of recently elected leaders and their educational borders, most of them are toppers in Gaokao exam and civil service exams, while in India 80% of the assembly members have criminal or corruption charges.
4. In China land belongs to Govt, so compensation costs which is very high in many countries is zero, expect some rare cases. Because 70% of worlds heavy machinery is made in China so its available on cheap rates, and plus lot of incentives by the govt.
5. You are right, 85% country by the end of this year will have 5G coverage and I am sure in India they are far behind, and also 80% world electronics are made in China.
6. If you look at world electronics data there is nothing is coming from India, mostly are made in China or made by China. And at the moment mostly working on semiconductors and chips because future is based on these.
7. Indian talents may be good but they prefer to go settle in developed countries while in China all the top university graduates stay here, and few go to west for the fields needed in China, and after 5 years with very higher salaries are coming back. In last 10 years many scientists, professors, and other talented Chinese people are coming back as per govt new attractive polies.
If you compare your date with China you will feel that India stands very behind than China even in the fields you mentioned.
@@mountainclimber4511 Major difference is communism and democracy -- Recent development is De-Globalization -- Recently one American semiconductor company shifted from China to Arizona USA -- China started weaponizing globalization which will slowly die down -- If China's label as world factory drops , then it will be difficult them to maintain only though internal consumption -- Indian internal consumption is pretty robust -- India has lot of positivity compared with China -- India lacked courage which is also now coming -- economically China+1 policy is favoring India. Bajaj Auto actually replaced China made CKD bike unit with CBU bike at 20 % more cost in South America and they are doing pretty good -- The semiconductor monopoly of China is being noticed by the world and it will not be like that in the future -- India has lot of plus point aligned -- Main enemy in India is within India and that is why legendary late CDS General BIPIn RAWAT said India has to face 2.5 enemies .. These so called Indian intellectuals settled in USA as American citizens need to keep quite -- If they love India let them come lock stock and barrel and establish in India - These easy chair thinkers we do not want -- Mr Sridhar Vembu IIT graduate studied in Princeton university worked in Bay area came down south TN a place called TENKASHI and started his company ZOHO corporation which is now 1 billion USD company -- we need such kind of people -- Indian potential need to harnessed -- This ever lasting comparison of China Vs India is not going any where - India is unique and its own place in the world map .. let us respect our country
@@spg6651 1. Let me correct you its not an American Semi-conductor company its TMSC from Taiwan, and its leading company in the world, then Samsung, Intel etc. This is a new factory going to be established in Arizona, there is much bigger company of TSMC is already working in China also, which is one generation of that in Arizona.
2. China is not weaponizing the globalization, its actually USA which is using SWIFT has put sanctions on different countries, and also companies like Huawei, which is far ahead in 5G technology than US. They are the ones who forced Taiwan to open a factory there, while Taiwans 65% exports are mainland China.
3. There is not a single factor affecting China and its zero covid policy already scrapped and open now for everything. India is very behind in all sectors, and there is not a single sector where India is near or ahead of China, and it will take so many years to achieve current China, and by the time will reach level by that time China will be much ahead, because China is working on the technologies needed in future.
4. China is producing 70% of electric vehicles and also has the biggest auto industry, India is far behind than all the mentioned fields, can be seen from the videos.
ruclips.net/video/FvNPyv5IJSA/видео.html,
ruclips.net/video/kZCeuTzc850/видео.html
5. Living in dreams is not a good thing, its good to accept the reality and face the truth and instead looking for gimmicks proper data and facts should be discussed.
In defence, economics, space and overall R & D China is huge and threatening to overtake the US which is declining. Any comparison with India is odious and rather amusing for the Chinese. Plus the Indian system thrives on red tape and corruption plus cronyism. Learning from Russia the Chinese government has clamped down on oligarchy. They have dozens of giant corporations. In India earlier it was Tata-Birla and now Adani-Ambani. It's a systemic failure that we are already not a much larger and robust economy. A new political vision beyond Congress, BJP and new players like AAP has to emerge.
We have been listening to CHINA IS VERY STRONG for quite sometime now -- India is not chicken and has all that is needed to progress.. India handled COVID very well with indigenous vaccine as well - PM MODI is action oriented person - Redtapism will die down through Digitization and digital currency -- It is possible
@@spg6651 Five million died in India due to Covid. You are telling me Modi handled it well. I am a well off person and five people died in my family. People like you are the Bane of India.
@@sureshmurty6523 My wife's elder sister died of COVID -- I know the pain -- But so called developed nation also suffered a lot why ? Indian medical system is pathetic compared to western world causality per million population is less in India and that is the measure of addressing the pandemic. More than 50 % died during wave 2 just because of politics of oxygen -- Health care comes under state subject -- In January 2021 there was a fight between central government and state government who should handle health - Many state government floated global tender also . But 1st week of may things went out of hand and PM MODI only picthed in to take it under control. You are being well off does not mean anything here except show off .
good observations sir
@@sureshmurty6523 exactly sir
Modi and Shah are Gujarathis and they favor Gujarathi businessmen over others. They tend to change rules to favor their own businessmen. Adani and Advani companies are thus dominating India. No wonder foreign investor and even domestic investors are skeptical.
The hypothesis ignores 'the people' as a determining factor.
absolutely......
Mind Begs the Question:
If a Political Party can Divide Nation
To win Elections
Political Party can't Rig Elections
To win Elections?
% of power plants in India facing critical coal shortage *before 2014: 66%*
% of power plants in India facing critical coal shortage *after 2014: 0%*
Can you share that WhatsApp forward here?
@@prasanthalpha lol tell me if you get undestrupted Electricity before 2014 stupid🤡
@@pratikkumar8409 Looks like you got upset. Sorry buddy. 😔
My fev debate show i like listening this .im listening it from last 2 weeks ..i like contents of every interview really appreciating 😌
Modi government is puting self politics&party above the national interest. Government should provide cheap money to MSME, skill development , quality education , employment , fair competition, reducing inequality must be at core of policy making...crony capitalism is destroying future of millions of Indian youth & demographic dividend is wasting due to government baised & improper Policy...
The present dispensation at New Delhi is interested in the success of 2As - the so-called 'national champions.'
Mind Begs the Question:
If a PM/Govt Secretly accept political funding from Foreigners
Nation Secure - from Foreign Influence
Nation Vulnerable - to Foreign Control?
Yeah, Your beautiful UPA provided all this .
20 Lakh Cr Bank NPAs which Modi has give it from budget and also recoup .
Really good education etc
Crony Capitalism. Ask UPA about it .
So many scams
Cheap Money --- R u an economist or a Illterate ??
Its Modi Gjvt which has provided the Cheaper money than UPA with Low Interests and Inflation rates .
His UPI scheme lets you transfer business transactions without a penny cost .
His Mudra schemes gave Loans to MSME --- massive many times more than what UPa gave .
But yeah, Keep lecturing ...
Just like Pappu
Extremely well put
There are four people who owns 90 percent of the country, two people are buying and two are selling and ALL four are friends of Modi. That is the problem.
Economist have different opinions & many economist support & oppose Modi policies. Depends on ideology!!!
Economic policies doesn't depend on ideology......
Even former team members of the Modinomics govt oppose his policies. Such widespread opposition is a first for India.
@@rishabhrai7552 but both can be devloped economically,rather having different ideologies... economic development is independent of Ideologies..eg USA and China
These two Indians speak better English than 90% of native Anglo-Saxans in the world. How sincere and objective can they be to speak on behalf of the local Indians?
India has been practising so called democracy for more than 70 years and is one of the poorest nations on earth on per capita basis - $ 2,400/yr. Probably it's long overdue to reflect on what went/is wrong.
Thank you for this brilliant interview 👏.
Keep up your effort 👌
Godi interview 😂
The stark difference between China & India.... China do not consider religious rituals & superstitions in any of its policies.
India?
भारत के 80 करोड लोग मुफ्त भोजन पर जी रहे हैं और 15 करोड़ अन्य सस्ता भोजन ले रहे हैं विश्व गुरु बनने के सपने छोड़ दें अच्छा है
From Pak🕊💯 Surely I would like to continue this program forever… Sir you are an amazing anchor.
Half knickers made in nagpur also can be exported to other foreign countries
😀😀😀
Good.Need to make this a reality.
Missiles made in Hyderabad is also being exported -- ISRO launch pad is now being for commercial satelites -- TATA busses are being exported -- India imports Diwali LEd lights from China and ball point pen also comes from China
😃😃😃😃😃😃😃
Exports doing well after the pandemic has nothing to do with India being better at manufacturing or whatever. Global shortages induced by the pandemic and Chinese lockdowns meant other countries had to grab whatever they could lay their hands on by whichever country was willing to export.
That’s a very lame argument
@@toocooltocare1444 Why is it a lame argument and what is a good argument in its place?
He calls it lame only because it pricked his balloon of patriotic delusion.
Karan Thapar is again right.
At least this discussion is not bias. Bravo.
There are great "manipulators " of data surrounding the PM who has hardly any "education " also he thinks that he's in knowledge of ruling such vast country with diverse economic and social problemd.atlast the cat had been let out of the bagby Dr.subramanyam
Hope someone forwards this interview to Indian FM and Niti Ay og to educate them
We as viewers get caught as hostages to a one-sided narrative, although one must say it is most articulate, logical and compelling, coming fro high intellectuals such as Arvind S, Rajan etc. However, practical implementation of these policies or suggested policy-recalibration is not so straightforward as it seems, given the Federal structure in India with specific subjects being exclusively in the state's domain If only KT could get somebody from the NitiAayog to specifically counter each of Arvind's proposals, the viewer can get a more accurate picture of the actual challenges ahead in moving India to the next level. The utterly polarized politics of the day does not help at all, not does the classification of journalists as DARBARI MEDIA (KT, Rajdeep, that awful Arfa Khanum something,,, ) and GODI MEDIA (ArnabG, India Today, CNN-IBN, Zee etc etc). Barkha seems neither here nor there, Shekhar Gupta takes a different nuanced stance and is very cunning. Wise beard Pranoy is still frollicking in the woods with his earned millions from Adani sale, althiugh NDTV seems to have kept its distinct anti-BJP flavor intact.
The Apple operation is only an assembly plant. All the components are imported, mostly from China plus the Indian government is subsidizing the labor costs in the Apple assembly plant. This Apple plant's imported phone components has increased Indian import/export ratio.
Can a country ruled by myopic political theatre artists progress in the long run?
What adjectives would you use for China's leaders ????
Politics is always a theatre, and politicians are all actors who are adept at putting up a show and fooling the public. The difference now is we have a narcissist at helm who is more interested in his public image, be it in how he is photographed or how he changes his spotless attire three times a day to show off his sartorial elegance. He has no time for trivial matters like economy, development, unemployment, agriculture, poor people. Oh, well he has two national champions to take Indian public to the cleaners.
Brain damaged patient spotted
The growth is only in the South but not throughout the nation. But the Modi Govt is taking the credit for this which it does not deserve. Modi Govt is only spending the funds generated by the South without educating the masses in the North especially in the BiMaRU states but on building buildings, roads etc centered on Delhi and travel from there. Subramanian has addressed this issue very well.
India cannot replace the Chinese model of Business as the Style and Procedure to make a Start up - My Practical example: A Start up person to start a Small scale business has to Bribe with the Loan he is getting. Hope this is not there in China. Same thing will be there for high scale industries. Infrastructure part - even a small town has good infrastructure but In India which has good Industries but no Infrastructure or road structure eg. Hosur in Tamil Nadu near to Bangalore just a NH is passing but no other road structure to improve further.
Hope it’s behind by 25 years …
In FY 2021-22, India's _tyre_ exports increased by 50% to an *all-time high* of Rs. 21,178 crore (US$ 2.72 billion).
Sad to see him so frightened. He doesn't even name Adani and Ambani. Has to call them national champions.
Excellent inputs 🙏
Absolutely correct analysis. Thanks.
Can anyone share the article they are discussing.... Tq
No...please Google it yourself
In 1990, India used to import only1% of APIs (Active Pharmaceutical Ingredients) from China. In the 1990s, China ramped up API manufacturing across 7,000 drug parks with infrastructure such as effluent treatment plants, subsidized power and water. Production costs in China fell sharply and drove Indian companies out of the API market because the government of the day proved ineffective in responding to this challenge. They were too busy scamming the nation.
The result is that India’s $42 billion pharmaceutical sector is heavily dependent on China for key APIs. The dependence on China for *“certain life-saving antibiotics”* is around 90%. Some drugs that are highly dependent on Chinese APIs include penicillin, cephalosporins and azithromycin. Modi launched an initiative two years ago under which 35 APIs began to be produced at 32 plants across India in March. *This is expected to reduce dependence on China by up to 35% before the end of the decade.*
That was excellent and truly educational.
👍appreciate
Came here thinking he will utter a few magic messages of how India can become a China - instead received a low level analysis of Apple's investment in India... he is finding it hard to keep up with what Modi is doing, forget any grand theory... get a secretary old man
Very Informative. Hope good sense prevail in larger interest of the country .
Indira Gandhi today would have taken bold reforms though she was the reason for natio nationalization then
That’s the reason why India’s manufacturing capacity has been low. The socialist laws that Indira Gandhi introduced with respect to land and labour are the reason why India has not been able to achieve what it could have in manufacturing. China is able to manufacture at large scale because of the fact that they are able to control land and labour. Only fools think that China is a Communist country China is a fully capitalist country. You can’t create world class industries that China has through socialism. Indira Gandhi‘s reforms are the reasons why India still faces the problem of socialism
@@toocooltocare1444 they were non existent before she came along.
India was divided between Kings and prince's. May wanna reread history mate.
@@toocooltocare1444 btw China is known as a mixed model socialist govt with capatilist market. Again need to catchup on reading.
@@shelldie8523 why so many PSUs were inefficient and subsequently shut down. Because they were not allowed to run on commercial lines and poor decision making and interference of govt and also because of trade unionism
These kind of discussions doesn't create any kind of positivity about India....... as an investment opportunity
Russia is the big example to know the result of supporting domestic oligarchs..
142 crore people
30 crore families
30 lakh annual car sales
luxury brands have hardly any presence beyond 5-6 big fat cities...
India can never replace China due to the lack of existing heavy infrastructures and heavy logistics .in India. The only hope for India is to become a world factory of yesterday but not of the future.
I am in the US and I could not make the subscription payment through an American credit card. Is there another method of payment available?
Inconsistent policy change like, say, favoring some domestic firms over the foreign firms, seems to be consistent with the more general stance of the so-called ''atmanirvar'' economic mindset.
Dude learn to spell atmanirbhar. Please don't complain if our trade deficits increase against China then. Import substitution is important. UPA increased trade deficit with China from 1.56 billion USD in 2004 to 36 billion USD in 2014.
OK dude, transcribe the foreign word in English as you think right, the point made stands unaltered.
@@farhadfaisal9410 it maybe foreign to you. In this day and age if you asking for a meaning of a word, then i must point you to a go to place called Google search.
@@farhadfaisal9410 what point you think you have made?
Please read it again, carefully, and you may understand the point!
Well said sir
India's finished steel exports grow 25% to 13.49 MT in FY22; imports fell 1.68% to 4.67 MT
Before 2014 India steel production = 81 million tonnes per annum (1.2 MT per year over 68 years);
after 2014 India steel production = 118 million tonnes per annum (4.6 MT per year)
If the Modi rate of growth had been there for 68 more years, India would be producing 350 MT of steel annually!!!
What a waste????!!!
@karanthapar would like to start your interview with one different question i.e. do you also prepare any PPT for your work analysis and what are parameters that are in there
Made In India Metro railways coaches being exported to Canada and Australia. *First time in history of India*
Quite enlightening..! Understood the obstacles in the way of attracting the investments..!
Policy change is the key issue and I feel there will be change marginally only taking into consideration the home industry also flourishes
Policies changes and law enacting is too hard in India. You don't have to look farther than the repealed farm laws. WIRE was one of those that vehemently was against the 3 farm laws, for reasons unbeknowst to even them.
Don't expect too much from Karan Thapar either.
We cannot have consistency & continuity in our economic policies, nor can we afford to provide a level playing field to anyone (including Indians) because we have to keep in mind the 2As.
We are busy nurturing and growing two national champions who will get rich at the cost of Indian public; being export driven like chaebols of S Korea is not on the agenda,
The myth of massive Indian domestic market is reserved for our ministers holidaying in Davos.
Atmanirbhar means dependence on 2As to run the country.
You will be pssing in your pants if you are asked to manage what Ambani or Adani are managing...a bigger disaster than Pappu ....and not nationalization is not happening anytime soon....sit back and watch India grow... we can do without you
leave it Arjit Ghosh Sir -- World has moved on -- You can retire -- World will be better place without your ideas
@@spg6651 Thanks for you advice.
absolutely
@@spg6651 without you you mean
Thank you for such an articulate and pertinent analysis, it is VERY important that someone does an unbiased and informed review of complex subjects that us citizens don't have the bandwidth to analyse or comprehend. This empowers me to logically criticize the environment, thank you again.
Unbiased?😂
@@the_prt state your argument?
@@monologuesofaconsultant His argument is that if liberal people say 2 + 2 = 4, it must be wrong, but if conservative people say that, then it must be true.
Indian economy has tanked..IIP is negative..unemployment is all time high..inflation rising..80% population on free ration...fail to understand rosy picture being painted...??🤔🤔
Every year u add about 3 crores population to the already existing huge population. Unemployment will thus remain a perennial problem, which is further exasperated by increased mechanisation and computerisation in every field of activity. For the same reason i.e. increased population,
there will always be demand pull inflation.
After the France 🇫🇷 unfortunate violence after semifinal
I don’t know why sir my respect for CHINA suddenly grew so fast…
They know how to keep home clean
Tesla Mega plant in Shanghai from land acquisition to the first model 3 car out of the plant was 18 months...
Excellent 👌
Is it possible that India doesn't want to be the next China. It may want to be a hugely successful India - in its own model
dr.subramanium .... Economic scientist par excellence, hummed and hawed through, what was to be a bold predictive interview
Karan Thapar's interviews and his emphatic pre- conclusions on behalf of the expert ensure the predictability of the script. One way os all they are about. KT's.
India is the next India.
Thanks for the message God bless you every day, l support you
Excellent analysis. 🙏
Got it
Yes
The gross enrolment ratio of women has risen from 22 in 2014 to 26.4 in 2019, *overtaking men for the first time last year*
India achieves its highest ever in history merchandise exports of 417.8 billion dollars in 2021-2022
In 2012, the raincoat PM issued oil bonds worth Rs 1.44 lakh crores. In effect, he borrowed money to compensate OMCs for keeping petrol prices low at the pump i.e. so he could look like the all conquering hero which he was not.
The NDA government inherited an outstanding bill of Rs 1.3 lakh crore owing to oil bonds. And the total payment towards repayment of oil bonds and interest between 2014-18 amounts to approximately Rs 44,000 crore (Rs 3,500 crore as principal amount and the rest as interest).
It’s the inconsistencies and the contradictions as inherently present in the policies apart from favouring someone and disfavouring others are the main obstacles in the economy and of course the corruption factor that can’t be ignored in this country. Let’s hope the things to improve for future.
It's all about the attitude of how india treats it's own citizens. This is shown in the language of the politicians and the laws enacted. If you don't treat your own citizens equally then why should any foreign company trust you.
Great.
Good topic to pick up
India reported highest FDI inflow in history, worth $83 billion in 2021-2022
No one is disputing the fact that we are getting record FDI..but it is not enough for large economy like India. We have potential to grow exponentially and govt should work towards that..
Very meaningful and sensible topic discussed. Yes your topic contents will always be supportive as you point out the real business stories policies going around this hapless country. A very scary and peculiar atmosphere is lurking around this govts perception policies be it business, be it administrative, be it social, be it any issues this govt touched. International govts knows what's going on out here in this country. Please report these type of interviews which will never be reported in news or discussed around.
That's what Italian & mafia thinks
Cheers & good luck
Please specify by example exactly what you found wrong?
Why report if you are claiming it to be a meaningful and sensible discussion ?
@@ashokkher9551 jhola chaap!
@@sajidshaikh4889 the greatest economist was aarbi momo who used to do bachcha bazi to get demographic dividend and used to buy & sell londa londiya in a open market to balance the budget ......
Yes undisputably apt,-"Opportunity is not destiny", for the simple fact wistful thinking is not planning.
What would be appreciated is a two side academic debate devoid of politics between economists from different points of view like Aravind Subramanian and somebody backing the policies of the current dispensation ( eg:Bibek Debroi). It'll allow viewers like us to have a well rounded view of the economic prospects of the country.
You cannot expect that from WIRE.
Indian need next 12 years to reach present china's economic position. Modi's contribution is very less however, Manmonsingh economic knowledge helped to become largest economy in the world. BJP govt's few wrong decision absolutely hurt our nation's rapid growth.
Since Dr. Subramanian served as India's Chief Economic Adviser for four years and was responsible for bringing out the annual Economic Survey of India, can he share with us India's income and wealth distributions?
While discussing, you should have also considered India performance despite global slowdown post pandemic and all neighbours spiralling down. Holding onto growth graph with whatever percentage is great achievement.
Serious concern
Better !
Why?
Since 600 Million ..bright..Intelligent, youth coming out with most innovative Technologies.
IDEAS..Concepts.
India can rule the world
Knowledge based.
Wisdom..
and Technology : technology and Technology all the way.
Thanks
Just a day after Modi inaugurates it, Nagpur Metro crosses one lakh ridership mark!
The length of operational metro rail projects has reached 824 kilometres and work on another 1,039 km is under progress. Prior to Modi, only 1.5 metro systems operational.
@@CheckYourHealthUS exactly what i was thinking about you! thanks
Slowness in Infra project is by design -- When the project is ON that is cash cow for budgetary allocation ane hence Continuous corruption possible -- Closing project is bad idea as Corruption is fundamental right of many opposition party leaders
Do not fight with Pigs - They enjoy it
@@spg6651 the new CBDC will make it almost impossible for corruption to happen without getting caught quickly
Very informative.
CAN THE TRANSCRIPT BE MADE AVAILABLE? AMBASSADOR KAZI ANWARUL MASUD FROM BANGLADESH
Knowledgeable to citizens thanks
Aggression that was unwanted. So, this issue needs to be tackled.
Caste and corruption are painful experiences of every citizen of the nation. No files movers in our offices with out facing caste and corruption. Even private Electricity companies are also victimized consumers. How can India grow.?. Fundamentalism adds pain and divide us. Uniform civil code may or may not solve some problems....but essentially we don't change.
HDFC Bank is set to be among world's top 10 most valuable banks after merger with HDFC Group. *Made possible by rule changes done by Modi.* It has a market capitalisation of about $108 billion and recently edged past Citigroup (over $100. 5 billion), which was at the 17th position.
The resulting larger balance sheet would allow underwriting of large-ticket infrastructure loans, accelerate the pace of credit growth in the economy, boost affordable housing and increase the quantum of credit to the priority sector, including credit to the agriculture sector.
This is in stark contrast to the complete decimation of the banking sector by PC, aka shiva the destroyer, under UPA.
I suppose your life has greatly improved as a result of this bank merger?
The installed electricity generation capacity in India has doubled from 200 GW in 2014 to 400 GW now. *Modi plans over 800 GW Installed Power Generation Capacity By 2030.*