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To understand the insanity behind the Economic Policies of India, I recommend people to read "The turn of the tortoise" by T.N.Ninan. An eye opening and honest

by sremani 10y ago

To understand the insanity behind the Economic Policies of India, I recommend people to read "The turn of the tortoise" by T.N.Ninan. An eye opening and honest view from financial/economic point of view. Some salient points are, - Indian Government acts paternalistic (at times with good intentions) but becomes parasitical in practice. - Indian corruption is rent-seeking unlike some high growth nations where corruption is more like profit sharing - India is a Center-Left country, with Fabian Socialism as the default political mindset, so Price controls and market control is the favorite practice of protectionism and fountainhead of black and gray markets. I strongly recommend, whether you are Indian or interested in India.

soneca 10y ago
>Indian corruption is rent-seeking unlike some high growth nations where corruption is more like profit sharing This made curious, and interested. Could you please expand more on this? How are they different? Why this specific kind happens more on India than other countries?
- shriphani 10y ago
  I don't have a large sample size but here's an interesting anecdote: India's largest phone manufacturer had to set up operations in Taiwan to buy fully functional phones, open them up and reassemble them in India: here's details + an interview where the CEO mentioned this story: http://blog.shriphani.com/2016/05/26/the-lunacy-of-the-apple-india-story/ http://blog.shriphani.com/2016/05/26/the-lunacy-of-the-apple... It is almost as if the nation has internalized its mediocrity and decision-making is overly focused on potential losses.
piyushpr134 10y ago
India is a huge market for mobile phones. There are 400 mn+ smartphone users here. 1. Why should the government allow someone to come and sell old phones ? 2. These phones would have lesser shelf life and once they become bricks, India would need infrastructure to recycle these. In absence of this infra, it may lead to more pollution. 3. Why doesn't APPL reduces price of their mobile phones to bring it to the level where it can compete with other players ? Samsung, Lenovo, HTC, Xiomi etc are doing very well here. They price phones competitively and some even make phones here. They do not need to sell refurbished phones. Their phones are better spec'd and have more relevant features compared to iphone. Tim cook, on his recent visit to India, admitted that iphone is indeed mispriced in India. In my view this is very good decision by the government. You must understand more about the topic at hand than putting that passive aggresive comment here
- tim333 10y ago
  >1. Why should the government allow someone to come and sell old phones ? For the reason that pretty much all other countries allow it - that it benefits the buyer and seller?
  - ksk 10y ago
    > that it benefits the buyer and seller? You would have to prove that assertion. Or at-least make a case beyond the superficial level. Like the parent poster said, India doesn't want to turn itself into a e-waste dump for the world. Such a situation would be bad for its citizens as the older phones need to be recycled/processed.
akshayB 10y ago
All countries should try to protect their interest and markets. I am happy that Apple got a push back by Indian government. Can you explain in words Apple's action when it is parking Billion dollar fortune outside USA? It pretty much sounds like 'practice of protectionism' from USA itself.

by sremani 10y ago

soneca 10y ago

>Indian corruption is rent-seeking unlike some high growth nations where corruption is more like profit sharing This made curious, and interested. Could you please expand more on this? How are they different? Why this specific kind happens more on India than other countries?

shriphani 10y ago
I don't have a large sample size but here's an interesting anecdote: India's largest phone manufacturer had to set up operations in Taiwan to buy fully functional phones, open them up and reassemble them in India: here's details + an interview where the CEO mentioned this story: http://blog.shriphani.com/2016/05/26/the-lunacy-of-the-apple-india-story/ http://blog.shriphani.com/2016/05/26/the-lunacy-of-the-apple... It is almost as if the nation has internalized its mediocrity and decision-making is overly focused on potential losses.

piyushpr134 10y ago

India is a huge market for mobile phones. There are 400 mn+ smartphone users here. 1. Why should the government allow someone to come and sell old phones ? 2. These phones would have lesser shelf life and once they become bricks, India would need infrastructure to recycle these. In absence of this infra, it may lead to more pollution. 3. Why doesn't APPL reduces price of their mobile phones to bring it to the level where it can compete with other players ? Samsung, Lenovo, HTC, Xiomi etc are doing very well here. They price phones competitively and some even make phones here. They do not need to sell refurbished phones. Their phones are better spec'd and have more relevant features compared to iphone. Tim cook, on his recent visit to India, admitted that iphone is indeed mispriced in India. In my view this is very good decision by the government. You must understand more about the topic at hand than putting that passive aggresive comment here

tim333 10y ago
>1. Why should the government allow someone to come and sell old phones ? For the reason that pretty much all other countries allow it - that it benefits the buyer and seller?
- ksk 10y ago
  > that it benefits the buyer and seller? You would have to prove that assertion. Or at-least make a case beyond the superficial level. Like the parent poster said, India doesn't want to turn itself into a e-waste dump for the world. Such a situation would be bad for its citizens as the older phones need to be recycled/processed.

akshayB 10y ago

All countries should try to protect their interest and markets. I am happy that Apple got a push back by Indian government. Can you explain in words Apple's action when it is parking Billion dollar fortune outside USA? It pretty much sounds like 'practice of protectionism' from USA itself.