Bangladesh overtakes India in per capita GDP: IMF

[DalalErMaNodi]

To know about Bangladeshi consumption you only need to visit Kolkata. In a normal year, 60% of their retail sales come from Bangladeshi tourists, that must be around 40-50% of the state GDP of West Bengal. A lot are often smuggled into Bangladesh. The differences between the dietary habits of the neighboring Indian states and Bangladesh also speak a lot.

Although there is much emphasis on export, the real growth generator for Bangladesh is the service sector where the retail sector is the key. This year Bangladesh has been saved by the remittances sent by the expatriates, likely to be the highest in the country's history in the fiscal end.

Not just 'likely', rather it's written in stone already, there has been a 15 - 20% increase in remittances each month since April, year on year.


Our Expat brothers have saved the government a whole lot of trouble, that and our hard working garments workers.



@idune expats workers and garment workers (mostly women) provided the buffer between the Covid onslaught and the economy, are all remitting expats and garments workers dalals of BAL ?

 

[Protest_again]

To know about Bangladeshi consumption you only need to visit Kolkata. In a normal year, 60% of their retail sales come from Bangladeshi tourists, that must be around 40-50% of the state GDP of West Bengal. A lot are often smuggled into Bangladesh. The differences between the dietary habits of the neighboring Indian states and Bangladesh also speak a lot.

Although there is much emphasis on export, the real growth generator for Bangladesh is the service sector where the retail sector is the key. This year Bangladesh has been saved by the remittances sent by the expatriates, likely to be the highest in the country's history in the fiscal end.

Food consumption is minimalistic. You can't smuggle expensive things like cars into Bangladesh. I mean really, just look at automobiles for example.

Indians buy 3 million cars, 1 million tractors, 800000 commercial trucks, 22 million motorcycles.

Bangladeshis buy 17000 cars, 3000 tractors, 5000 commercial trucks, 540000 motorcycles.

India's power comsumption is atleast 16 times Bangladesh. India's steel consumption too is 100 million tonnes while Bongo's 6 million tonnes. India sells 131 million domestic flight tickets. Your consumption in any of these metrics is not anywhere near.

India Gov (including states) revenue actuals in 2019-20 is $650 billion. While Bangladesh is $30 billion. There is something really fishy.

 

[Black_cats]

'Solid Achievement of BJP': Rahul Attacks Govt as IMF Predicts Bangladesh to Overtake India in GDP Growth

As per the World Economic Outlook report of IMF released on Tuesday, India's per capita GDP is set to plunge by 10.5 per cent to $1,877 this fiscal year ending March 31, 2021.

By India.com News Desk | Published:Wed, October 14, 2020 2:44pm

New Delhi: The projection by the International Monetary Fund (IMF) that Bangladesh will overtake India in per capita GDP for 2020 has set social media abuzz and given the opposition another opportunity to attack the Modi government over the economic decline. Also Read - Indian Economy to Contract by Massive 10.3% in 2020, to Bounce Back Next Year: IMF

Taking a dig at the government, Congress leader Rahul Gandhi tweeted: "Solid achievement of 6 years of BJP's hate-filled cultural nationalism: Bangladesh set to overtake India".
As India's growth falls, amongst the most in the world, the country is on track to fall below Bangladesh in terms of the per capita GDP. India will grow smartly next year, as per IMF.

https://twitter.com/x/status/1316224292347023360

As per the World Economic Outlook report of IMF released on Tuesday, India's per capita GDP is set to plunge by 10.5 per cent to $1,877 this fiscal year ending March 31, 2021. This will make India the third poorest country in South Asia with only Pakistan and Nepal behind.

Bangladesh, Bhutan, Sri Lanka and Maldives now have more per capita GDP than India.


Bangladesh's per capita GDP in dollar terms is expected to grow 4 per cent in 2020 to $1,888, overtaking India.

Stock market expert and Director Enam Holdings, Manish Chokhani tweeted, "Today's special. Both our neighbours marching ahead. We wish them well and hope our achievements meet our own aspirations!".

Chokhani added a clipping of Bangladesh overtaking India and China's booming economy and stock markets. The tweet was tagged to business and stock market leaders Samir Arora, Nilesh Shah, Anand Mahindra, Harsh Goenka and Harsh Mariwala.

Till five years back, India's per capita GDP was 40 per cent higher than Bangladesh. In the last five years, Bangladesh has grown three times the rate of India, at 9.1 per cent compared to 3.2 per cent for India, a much larger economy.

(With inputs from IANS)

 

[DalalErMaNodi]

Food consumption is minimalistic. You can't smuggle cars into Bangladesh. I mean really, just look at cars for example.

Indians buy 3 million cars, 1 million tractors, 800000 commercial trucks, 22 million motorcycles.

Bangladeshis buy 17000 cars, 3000 tractors, 5000 commercial trucks, 540000 motorcycles.

India's power comsumption is atleast 16 times Bangladesh. India's steel consumption too is 100 million tonnes while Bongo's 6 million tonnes. India sells 131 million domestic flight tickets. Your consumption in any of these metrics are anywhere near.

India Gov (including states) revenue actuals in 2019-20 is $650 billion. While Bangladesh is $30 billion. There is something really fishy.

What will we do with cars when Bangladesh is already a jam packed country ?


Such statistic cannot be used to compare India which a much large nation with Bangladesh, a tinier deltaic nation, where owning cars isn't really economically feasible even if you're rich (taxes and it's a unnecessary novelty).


Same for domestic tickets, another irrelevant bit of statistical data that holds no weight when looked at constructively.

 

[Protest_again]

What will we do with cars when Bangladesh is already a jam packed country ?


Such statistic cannot be used to compare India which a much large nation with Bangladesh, a tinier deltaic nation, where owning cars isn't really economically feasible even if you're rich (taxes and it's a unnecessary novelty).


Same for domestic tickets, another irrelevant bit of statistical data that holds no weight when looked at constructively.

Fine. How about electronics? Smart phones? Bangladesh 7 million vs India's 158 million in 2019. While Bangladesh majority of smartphones (70%) are less than 8000 taka. India's smart phone average cost is 17000 rupees.

 

[Species]

Food consumption is minimalistic. You can't smuggle cars into Bangladesh. I mean really, just look at cars for example.

Indians buy 3 million cars, 1 million tractors, 800000 commercial trucks, 22 million motorcycles.

Bangladeshis buy 17000 cars, 3000 tractors, 5000 commercial trucks, 540000 motorcycles.

India's power comsumption is atleast 16 times Bangladesh. India's steel consumption too is 100 million tonnes while Bongo's 6 million tonnes. India sells 131 million domestic flight tickets. Your consumption in any of these metrics are anywhere near.

India Gov (including states) revenue actuals in 2019-20 is $650 billion. While Bangladesh is $30 billion. There is something really fishy.

These are just mere stats. As I said, you just look into the ground picture to know the reality, that is by visiting the "markets".

Car sales/flight tickets are hardly an indicator of consumption growth for low-middle income countries, what % does an average Indian spends on car or flight tickets? Not to mention the restrictions on car sales in Bangladesh. That's cherry picking.

Power consumption stats for Bangladesh has been historically low since the industrial power plants are outside the national grid. The industries usually have their own small power generation capacity and all they ask for is gas.

You could try the stats on gas consumption of Bangladesh and India,
Bangladesh's per capita gas consumption is 183 cubic meters, for India it's only 43.

The revenue generation in India is supposed to be higher due to GST and other tax reforms. Bangladesh has hardly any visible tax reforms since the introduction of VAT.

 

[Protest_again]

These are just mere stats. As I said, you just look into the ground picture to know the reality, that is by visiting the "markets".

Car sales/flight tickets are hardly an indicator of consumption growth for low-middle income countries, what % does an average Indian spends on car or flight tickets? Not to mention the restrictions on car sales in Bangladesh. That's cherry picking.

Power consumption stats for Bangladesh has been historically low since the industrial power plants are outside the national grid. The industries usually have their own small power generation capacity and all they ask for is gas.

You could try the stats on gas consumption of Bangladesh and India,
Bangladesh's per capita gas consumption is 183 cubic meters, for India it's only 43.

The revenue generation in India is supposed to be higher due to GST and other tax reforms. Bangladesh has hardly any visible tax reforms since the introduction of VAT.

India doesn't use gas for anything except for cooking. Bangladesh because it has it own gas reserves has been using gas for power production too, hence the larger consumption.

 

[DalalErMaNodi]

Fine. How about electronics? Smart phones? Bangladesh 7 million vs India's 158 million in 2019. While Bangladesh majority of smartphones (70%) are less than 8000 taka. India's smart phone average cost is 17000 rupees.

View attachment 679518

You do realise that by being a larger country with a larger population, India quite evidently has a more mature, well developed and larger upper and middle class, who mind you can afford two or more phones per person.


The middle class in Bangladesh is only just forming, this statistical anomaly will even out within this decade.


Bangladesh is now increasingly assembling phones in the country itself, which will bring down the prices, Samsung is not only assembling but also manufacturing the components for their models in house in Bangladesh, this has been hammered by Covid but it'll show up in the data soon enough.


More and more phones aside from Samsungs are being assembled in Bangladesh, Walton on the other hand is making phones from literal scratch.



All things considered, the point you raised will cease to be relevant in the later part of this decade.



India is cursed with a large population, it is was only a matter of time* before Bangladesh overtook India, we already know how Bangladesh is ahead of India on the non Economic human development indices.



That time* was later this decade, 28 - 30 to be exact but it seems Covid had other plans, now when you say India will potentially grow at rates of 7%+ next year, then it should be considered that it'll be on the backs of a negative 10% from this FY, and it is unlikely that Bangladesh won't achieve a growth rate of 5%+ in the coming FY.




Regardless, the fact that we are having this conversation proves how far Bangladesh has come, that too at an exponential rate unheard of in the region.



India maybe a large economy, but the demographic curse of a massive billion strong population will be the bane of a rising India.



Anyhow, there are no brownie points for being ahead of India aside from the usual petty argument, we don't seek to compete with India, I'd rather we look beyond our region for development models and goals.

 

[Species]

India doesn't use gas for anything except for cooking. Bangladesh because it has it own gas reserves has been using gas for power production too, hence the larger consumption.

Exactly, there are differences in the consumption style so you can't cherry pick a particular stat to compare apples vs oranges.

Still if you want to compare, just visit the Kolkata markets on a normal day, that will show you the real picture.

 

[Protest_again]

Exactly, there are differences in the consumption style so you can't cherry pick a particular stat to compare apples vs oranges.

Still if you want to compare, just visit the Kolkata markets on a normal day, that will show you the real picture.

I am not cherry picking. You picked it. Try any other metric. But I am happy for you. I want you to progress. I am just confused about your consumption. Thats all. This is my last post. Congrats and good luck.

 

[DalalErMaNodi]

Exactly, there are differences in the consumption style so you can't cherry pick a particular stat to compare apples vs oranges.

Still if you want to compare, just visit the Kolkata markets on a normal day, that will show you the real picture.

West Bengal is a dump, they had all the necessary infrastructure built by the British, a more educated population, low population density, a smaller population than Bangladesh, a large Indian economy to piggyback over and yet they remained a cesspool.



West Bengal is stuck in the 90s, the fact that we go there for medical tourism proves that we are the bigger morons, but hey atleast we can afford it, we make their jobs possible.

 

[Species]

I am not cherry picking. You picked it. Try any other metric. But I am happy for you. I want you to progress. I am just confused about your consumption. Thats all. This is my last post. Congrats and good luck.

Your selective stats was also cherry-picking and I only tried to speak your own language. Any other metric, how about average life expectancy?

Good luck to you too!

West Bengal is a dump, they had all the necessary infrastructure built by the British, a more educated population, low population density, a smaller population than Bangladesh, a large Indian economy to piggyback over and yet they remained a cesspool.



West Bengal is stuck in the 90s, the fact that we go there for medical tourism proves that we are the bigger morons, but hey atleast we can afford it, we make their jobs possible.

Make no mistake it will be a bigger dump if BJP comes to power in the state with all their anti-Bangladeshi moves.

 

[Ghost Hobbit]

You do realise that by being a larger country with a larger population, India quite evidently has a more mature, well developed and larger upper and middle class, who mind you can afford two or more phones per person.


The middle class in Bangladesh is only just forming, this statistical anomaly will even out within this decade.


Bangladesh is now increasingly assembling phones in the country itself, which will bring down the prices, Samsung is not only assembling but also manufacturing the components for their models in house in Bangladesh, this has been hammered by Covid but it'll show up in the data soon enough.


More and more phones aside from Samsungs are being assembled in Bangladesh, Walton on the other hand is making phones from literal scratch.



All things considered, the point you raised will cease to be relevant in the later part of this decade.



India is cursed with a large population, it is was only a matter of time* before Bangladesh overtook India, we already know how Bangladesh is ahead of India on the non Economic human development indices.



That time* was later this decade, 28 - 30 to be exact but it seems Covid had other plans, now when you say India will potentially grow at rates of 7%+ next year, then it should be considered that it'll be on the backs of a negative 10% from this FY, and it is unlikely that Bangladesh won't achieve a growth rate of 5%+ in the coming FY.




Regardless, the fact that we are having this conversation proves how far Bangladesh has come, that too at an exponential rate unheard of in the region.



India maybe a large economy, but the demographic curse of a massive billion strong population will be the bane of a rising India.



Anyhow, there are no brownie points for being ahead of India aside from the usual petty argument, we don't seek to compete with India, I'd rather we look beyond our region for development models and goals.

It's irrelevant. The idea is that BD/ SL etc. have to be economically propsperous for the good of the entire sub-continent. All countries here are progressing despites variations in pace. But if all become economically prosperous our relations will be better- like the US and Canada. When poverty is prominent in all the main parties they all get on each others's throats and try to cut each other on every opportunity. When everone has a core focus on economy their relationships improve.

 

[fallstuff]

This little news is possible thanks to the entrepreneurs and the hard working young ladies of Bangladesh.

However, there is just so much more to do, so keep your eyes on the bigger picture to keep moving on to that general direction.

 

[DalalErMaNodi]

It's irrelevant. The idea is that BD/ SL etc. have to be economically propsperous for the good of the entire sub-continent. All countries here are progressing despites variations in pace. But if all become economically prosperous our relations will be better- like the US and Canada. When poverty is prominent in all the main parties they all get on each others's throats and try to cut each other on every opportunity. When everone has a core focus on economy their relationships improve.

Sorry to say, but very few in the region think like you.


We are a region of apes.