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India has habit of being at the golden opportunity than missing it completely. The problem with India is that internal demand for products is negligible, peopl

India has habit of being at the golden opportunity than missing it completely. The problem with India is that internal demand for products is negligible, people aren't spending, everyone's saving! And a lot of people don't have employment. It's overburdened by taxes. Country has many manufacturers but no retailers willing to sell the produce. Country is developing very fast, when you can't buy pvc pipe, MDF, custom cut glass online? There is no company selling screws online in India, strange! Local businessmen do not want to take any risk. When internal demand and supply is dead. Opening market for iPhones gonna put downward pressure on currency. I am not saying, it's a bad move. It's welcomed move, I suggest India open its market for foreign manufacturers and companies, so that they are able to sell here anything duty free. But this will lead to a massive correction on the currency value which is long overdue. If currency loses it value entirely, I think the government will mandate private household gold be sold to the government at fixed rate set by government which will be used to pay for gas/petroleum import once the currency tanks. India's currency will definitely tank if it opens itself up. But there is massive amount of household gold which can be used to support the currency and bring it back up. This will honestly make people more equal specially in country where there are many havenots, strengthening the currency should be lot more important. Annexing private gold holding should be next big step after demonetization.

dragonsh 7y ago
India theoretically could have taken advantage of trade war. But for that to happen it needed 3 things: 1. Skilled workforce 2. Infrastructure 3. Rule of law Present India lacks all 3 in one or the other way and indeed moving towards authoritarian government with shutting down internet at will, arresting people for post critical of govt or it's ministers [1] [2] [3] [4]. Looking at what's happening with economy, fudging economic numbers, large young unemployed youth, faltering manufacturing sector. These are ticking timebomb. Obviously the major beneficiary has been south east Asia, especially Vietnam. Not sure India can take advantage. [1] https://en.m.wikipedia.org/wiki/Internet_censorship_in_India https://en.m.wikipedia.org/wiki/Internet_censorship_in_India [2] https://www.bbc.com/news/world-asia-india-46631911 https://www.bbc.com/news/world-asia-india-46631911 [3] https://www.theguardian.com/world/2014/jun/13/indian-police-arrest-students-defaming-narendra-modi https://www.theguardian.com/world/2014/jun/13/indian-police-... [4] https://m.hindustantimes.com/india-news/arrested-over-a-facebook-status-7-times-people-landed-in-jail-for-posts-against-politicians/story-ON1jukoStfV6T8aYcJEVGJ.html https://m.hindustantimes.com/india-news/arrested-over-a-face...
- gingabriska 7y ago
  >Obviously the major beneficiary has been south east Asia, especially Vietnam. Not sure India can take advantage. They need to get rid of income taxes and GST. Honestly, if they do not do this now - there will be nothing to tax in future. Permits, licenses also need to be removed barring some sectors which include healthcare, education and food. Also land is a big problem in India, government should overtake all the land and lease it out for good use and not allow any person or entity to own land. People seeing land as a store house of value is really bad thing! Get done with import duties because this is making local manufacturers weak (use indigenous shoddy tools you end up with shoddy output), remove unfriendly rules which prevent foreign players from selling their expertise here. Annex private gold holdings, it will be next big thing after demonetization. It will make the citizens more equal. People should know if there is anyway to get rich is not by hoarding land or putting money in bank, but by starting business.
  - dragonsh 7y ago
    > People should know if there is anyway to get rich is not by hoarding land or putting money in bank, but by starting business. India still has a long marathon ahead, might take a decade or two to just let people start business easily [1]. When it cannot even help keeping existing business open, its wishful thinking to create an environment to flourish business. But don't worry economy is not important factor in Indian politics, so its alright the incumbents will continue to pursue other agendas especially the one which secure them vote bank based on divisive politics. [1] https://www.doingbusiness.org/content/dam/doingBusiness/country/i/india/IND.pdf https://www.doingbusiness.org/content/dam/doingBusiness/coun...
- sbmthakur 7y ago
  Those problems are nothing new. India doesn't have an entirely literate population which contributes to lack of skilled workforce and slow pace of Infrastructure building. Add to it the democratic nature(unlike China) of politics which stalls mega projects for years. As for the rule of law, India is severely underpoliced[1]. While the current Government is indeed authoritarian, it's a major improvement over the previous ones when we include national security in the picture. Also, the region where Internet was shut is Kashmir, which is heavily infested with Pakistan-backed terrorism. 1. https://www.quora.com/Why-is-India-underpoliced-even-after-being-a-country-this-populous-The-UN-suggests-that-we-have-1-3-of-what-we-need-What-are-the-problems-here https://www.quora.com/Why-is-India-underpoliced-even-after-b...
sbmthakur 7y ago
> If currency loses it value entirely, I think the government will mandate private household gold be sold to the government at fixed rate set by government which will be used to pay for gas/petroleum import once the currency tanks. Which section of the Constitution permits the Government to do that?

dragonsh 7y ago

India theoretically could have taken advantage of trade war. But for that to happen it needed 3 things: 1. Skilled workforce 2. Infrastructure 3. Rule of law Present India lacks all 3 in one or the other way and indeed moving towards authoritarian government with shutting down internet at will, arresting people for post critical of govt or it's ministers [1] [2] [3] [4]. Looking at what's happening with economy, fudging economic numbers, large young unemployed youth, faltering manufacturing sector. These are ticking timebomb. Obviously the major beneficiary has been south east Asia, especially Vietnam. Not sure India can take advantage. [1] https://en.m.wikipedia.org/wiki/Internet_censorship_in_India https://en.m.wikipedia.org/wiki/Internet_censorship_in_India [2] https://www.bbc.com/news/world-asia-india-46631911 https://www.bbc.com/news/world-asia-india-46631911 [3] https://www.theguardian.com/world/2014/jun/13/indian-police-arrest-students-defaming-narendra-modi https://www.theguardian.com/world/2014/jun/13/indian-police-... [4] https://m.hindustantimes.com/india-news/arrested-over-a-facebook-status-7-times-people-landed-in-jail-for-posts-against-politicians/story-ON1jukoStfV6T8aYcJEVGJ.html https://m.hindustantimes.com/india-news/arrested-over-a-face...

gingabriska 7y ago
>Obviously the major beneficiary has been south east Asia, especially Vietnam. Not sure India can take advantage. They need to get rid of income taxes and GST. Honestly, if they do not do this now - there will be nothing to tax in future. Permits, licenses also need to be removed barring some sectors which include healthcare, education and food. Also land is a big problem in India, government should overtake all the land and lease it out for good use and not allow any person or entity to own land. People seeing land as a store house of value is really bad thing! Get done with import duties because this is making local manufacturers weak (use indigenous shoddy tools you end up with shoddy output), remove unfriendly rules which prevent foreign players from selling their expertise here. Annex private gold holdings, it will be next big thing after demonetization. It will make the citizens more equal. People should know if there is anyway to get rich is not by hoarding land or putting money in bank, but by starting business.
- dragonsh 7y ago
  > People should know if there is anyway to get rich is not by hoarding land or putting money in bank, but by starting business. India still has a long marathon ahead, might take a decade or two to just let people start business easily [1]. When it cannot even help keeping existing business open, its wishful thinking to create an environment to flourish business. But don't worry economy is not important factor in Indian politics, so its alright the incumbents will continue to pursue other agendas especially the one which secure them vote bank based on divisive politics. [1] https://www.doingbusiness.org/content/dam/doingBusiness/country/i/india/IND.pdf https://www.doingbusiness.org/content/dam/doingBusiness/coun...
sbmthakur 7y ago
Those problems are nothing new. India doesn't have an entirely literate population which contributes to lack of skilled workforce and slow pace of Infrastructure building. Add to it the democratic nature(unlike China) of politics which stalls mega projects for years. As for the rule of law, India is severely underpoliced[1]. While the current Government is indeed authoritarian, it's a major improvement over the previous ones when we include national security in the picture. Also, the region where Internet was shut is Kashmir, which is heavily infested with Pakistan-backed terrorism. 1. https://www.quora.com/Why-is-India-underpoliced-even-after-being-a-country-this-populous-The-UN-suggests-that-we-have-1-3-of-what-we-need-What-are-the-problems-here https://www.quora.com/Why-is-India-underpoliced-even-after-b...

sbmthakur 7y ago

> If currency loses it value entirely, I think the government will mandate private household gold be sold to the government at fixed rate set by government which will be used to pay for gas/petroleum import once the currency tanks. Which section of the Constitution permits the Government to do that?