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Comparing India and Pakistan 2010

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BRICs have always had 50% of humanity...and yet India, China and Brazil have been nobodies for a long long time.
The BRIC hype has been started by none other than Wall Street Bankers in Goldman Sachs out to make a few bucks....remember, these guys almost went out of business and had to be rescued by American taxpayers. .

I thought we were talking seriously....but sometimes you start joking...Anyways Let me know in case you need more information on this :coffee:....

The weight of BRIC

The importance of Brics, South Africa included

http://www.citywire.co.uk/selector/-/news/fund-manager-interviews/content.aspx?ID=317050

As to your knowledge of Maoists insurgency in India, the less said the better. It seems you know nothing other than what you read in the shallow Indian media reports that are nothing but urban legends.

Well i am listening....
 
When we talk about BRIC or Indo-Pak relations just please keep, the big CHINA-Will-TAKE-ALL syndrome the west is suffering from, in mind.

I say yes we are dependent on foreign aid and yes our economy is in bad shape, but what happened in India in the last two decades. Did the standard of education in India skyrocketed all of the sudden, or the indian scholars reached the critical level of genius all together, or all the insurgencies in india came to an end or did india solved all their infrastructure problems all at once???

Or the West looked around to see who can act as a balancing power to China, so they started pumping Indian economy.

My guess is once they realize india cannot do the job... most of the economic prosperity will vanish [they will take away their call centers]. Hell they have done it to us even after we did the job.

Hahahaha....So our economy is running on Call Centers???? I reminded this to another member but seems like i need to keep repeating :no:...

There is a saying when you don't know much about the topic being discussed then better shut up and listen...Why to make yourself a laughing stock for other's... Go google a bit and still you don't get your answers let me know i will help you out...
 
^^^^^^^^^^^^^
Honestly i would say lets carry on...Lets carry on and refute his claims....and all those who are participating in refuting his claims(including me) please make sure you do not get involved in such idiotic threads again...This is complete waste of time and resources....

Bring it on Mr Haq..Lets bring the discussion to its logical conclusion....

deckinraj,

With due apologies to a few reasonable Indian posters here, let me say to the rest of you that your personal attacks simply show your total desperation. Your behavior and that of some of your fellow Indian posters who engage in personal abuse and insults does not reflect well on your education and upbringing, or your country.

I know it's very hard for you to digest the reality of India's utter backwardness as a nation (with the exception of a few bright individuals), and abject deprivation of the vast majority of its people when you have been taught by a broken system otherwise.

The only thing I can conclude from many of the comments here so far is that you and some of your cohorts are a product of a system of rote learning that does not encourage any reasoning or independent thinking. It's really sad.
 
Hahahaha....So our economy is running on Call Centers???? I reminded this to another member but seems like i need to keep repeating :no:...

There is a saying when you don't know much about the topic being discussed then better shut up and listen...Why to make yourself a laughing stock for other's... Go google a bit and still you don't get your answers let me know i will help you out...

Lolzzzzzzzz I go and Teach what you call Economics of Development in LSE {read my intro}....... Let me educate YOU on this on dear.[Need Links????}

And try to get the sense of the message... what call center meant in the senario.... but again who am I talking to... It meant all the FDI [foreign direct investment.... which is not fixed and can be taken out].
 
deckinraj,

With due apologies to a few reasonable Indian posters here, let me say to the rest of you that your personal attacks simply show your total desperation. Your behavior and that of some of your fellow Indian posters who engage in personal abuse and insults does not reflect well on your education and upbringing, or your country.

I know it's very hard for you to digest the reality of India's utter backwardness as a nation (with the exception of a few bright individuals), and abject deprivation of the vast majority of its people when you have been taught by a broken system otherwise.

The only thing I can conclude from many of the comments here so far is that you and some of your cohorts are a product of a system of rote learning that does not encourage any reasoning or independent thinking. It's really sad.

Well said...Now please go back and look at my posts...They were direct replies to your so called independent thinking blogs(which honestly are doctored facts and figures to a larger extent) which you tend to ignore...Well i can understand why you do that however i am not sure what particular part of this post makes you feel i am indulging in personal attacks????

All i am saying(that too an Indian member) that we should carry on and rebuke your claims...Secondly i am suggesting them not to indulge in suchnonsensical threads...Don't you think this thread/like thread is/are a waste of time?? As said repeatedly both India and Pak are bad ...In comparison Pak record is worse than India however what will i/you gain by prooving this???? At the end of this we both belong to a third world country where a larger portion of masses sleep empty stomach....

P.S : The way you have chooses to reply to this post kindly reply to some othere posts where we have rebuked your claims...

In the end please accept my apologies if i hurt your feelings...
 
There is a saying when you don't know much about the topic being discussed then better shut up and listen...Why to make yourself a laughing stock for other's... Go google a bit and still you don't get your answers let me know i will help you out...

This is how you talk when your logic fails you!!!
 
This is for your infrastructure problems:
Roads are the lifelines of an economy. The Rakesh Mohan Committee on Infrastructure highlighted several facts and issues. The public sector outlay for road development in the First Plan was 6.7 percent. It dropped down to a mere 3 percent in the Eighth Plan. Investments in NHs went down from 1.4 percent of the total outlay to 0.6 percent in the same period.

While in India the road development doesn’t have any strong lobby, the automobile industry has gone for an overkill. The present limited road space with an unbalanced growth of vehicles can only be ignored at a great cost to the economy. The backbone of Macro Logistics is the roads. Unless the anticipated growth of vehicles is accompanied by super highways, NHs and SHs, the economy will get a set back as the basic logistics of both Micro and Macro will be at a snail’s pace. The Rakesh Mohan Committee estimated that the economic cost of bad roads ranges from Rs.20,000 crore2 to Rs.30, 000 crore annually.

In India, hardly 30 to 40 percent of the revenue realized from roads are thrown back into road development. In advanced economies like U.S., Switzerland and Japan, the entire amount is thrown back into road development. These countries realized that the expenditure on roads is an investment leading to accelerated growth in every other sector. The roads in India have become cash cows. It is estimated that the transport sector pays Rs.4500 crore every year to various state governments as taxes. The present practice of taxation in the road transport sector was the practice during British India when the government wanted to protect Railways in which the British had financial interests. There is certainly a need to rethink the entire taxation on the road transport sector if the government wants the road and freight transport infrastructure to support Macro Logistics in India.

Source: Impact of transportation infrastructure on logistics in India Business Logistics & SCM
 
This is for your external and internal trade imbalances:

India's economy is mostly dependent on its large internal market with external trade accounting for just 20% of the country's GDP. In 2008, India accounted for 1.45% of global merchandise trade and 2.8% of global commercial services export. Until the liberalization of 1991, India was largely and intentionally isolated from the world markets, to protect its economy and to achieve self-reliance. Foreign trade was subject to import tariffs, export taxes and quantitative restrictions, while foreign direct investment (FDI) was restricted by upper-limit equity participation, restrictions on technology transfer, export obligations and government approvals; these approvals were needed for nearly 60% of new FDI in the industrial sector. The restrictions ensured that FDI averaged only around US$200 million annually between 1985 and 1991; a large percentage of the capital flows consisted of foreign aid, commercial borrowing and deposits of non-resident Indians.[108] India's exports were stagnant for the first 15 years after independence, due to the predominance of tea, jute and cotton manufactures, demand for which was generally inelastic. Imports in the same period consisted predominantly of machinery, equipment and raw materials, due to nascent industrialization.

Since liberalization, the value of India's international trade has become more broad-based and has risen to Rs. 63,080,109 crores in 2003–04 from Rs.1,250 crores in 1950–51. India's major trading partners are China, the US, the UAE, the UK, Japan and the EU.[109] The exports during April 2007 were $12.31 billion up by 16% and import were $17.68 billion with an increase of 18.06% over the previous year. In 2006-07, major export commodities included engineering goods, petroleum products, chemicals and pharmaceuticals, gems and jewellery, textiles and garments, agricultural products, iron ore and other minerals. Major import commodities included crude oil and related products, machinery, electronic goods, gold and silver.

India is a founding-member of General Agreement on Tariffs and Trade (GATT) since 1947 and its successor, the WTO. While participating actively in its general council meetings, India has been crucial in voicing the concerns of the developing world. For instance, India has continued its opposition to the inclusion of such matters as labour and environment issues and other non-tariff barriers into the WTO policies.

Source: Indian Economic Liberalization: Issues, concerns, problems, consequences
http://www.education.kerala.gov.in/englishmedium/geographyeng/chapter8.pdf
India's March Exports Grow 26.6%, Miss Annual Target (Update2) - Bloomberg.com
http://www.econ.yale.edu/~srinivas/ec_reforms.pdf
 
Here how your social system is getting its pounding:
Social Inequality Threatening India's Economic Stability
BY FC Expert Blogger Anupam MukerjiTue Dec 26, 2006
This blog is written by a member of our expert blogging community and expresses that expert's views alone.

Can a country where a third of the population is illiterate be an Information Technology superpower? Can a country where 78 million rural homes have never seen electricity be an economic superpower? Can anyone feel safe living in islands of prosperity in a sea of poverty? While India’s educated elite are reveling in their new found status on the global stage, inequitable distribution of wealth and opportunities are shaking the very foundation of India’s new economy. Will the Indian government’s apathy towards the rural poor bring India’s party to an abrupt end?

In the last 12 years, India's economy has grown at an average annual rate of about 7 percent, reducing poverty by 10 percent. However, 40 percent of the world's poor still live in India, and 28 percent of the country's population continues to live below the poverty line. More than one third live on less than a dollar a day, and 80 percent live on less than two dollars a day. India's recent economic growth has been attributed to the service industry, but 60 percent of the workforce remains in agriculture.

The rate of increasing disparity between the ‘haves’ and the ‘have-nots’, is hard to miss in tech centers like Bangalore, Chennai and Delhi. Technology professionals are returning, having made their millions in the US. They are driving expensive cars and living in luxury apartments. Cities are growing in all directions. Farmlands are being acquired to build luxury townships, golf courses, five star hotels, spas and clubs. Poor farmers get paid off, and are forced to move further away from the city. And while global leaders and businessmen wax eloquent about India’s growing status as an IT superpower, everyone turns a blind eye to the majority of the population untouched by the economic growth.

And the scenario is not too different in smaller cities. Nagpur is a bustling metropolis in the heart of India, in a region known as Vidarbha. There are signs of economic boom everywhere in the city – shopping arcades, multiplexes, pubs, and luxury clubs. Yet, right outside the city, farmers are committing suicide due to their inability to repay debts as small as $100. In the last five years, almost two thousand farmers in the region have killed themselves.

Hyderabad is the capital city of the state of Andhra Pradesh. In the last decade, Hyderabad has established itself as a worthy successor to Bangalore. Companies like Microsoft, Wipro, Infosys, GE, HSBC have all made their presence felt in the city. Bill Gates, Bill Clinton, Jack Welch and a host of other global biggies have visited the city and proclaimed their confidence in its play in the global world. Yet, a continuing drought and a lack of government support has led to 4500 farmer suicides in the last 7 years in the state of Andhra Pradesh.

A socio-economic structure as lopsided as this is bound to collapse sooner or later. And some horrific incidents in the recent past signal the appearance of cracks in the Indian structure.

Last month, Adobe India CEO Naresh Gupta’s two-year old son was kidnapped from Noida in suburban New Delhi. The child was released on the payment of a ransom of $100,000, but the kidnappers were eventually caught by the police and the ransom amount recovered.

More recently, Adhip Lahiri, a young man working for i2 technologies in Bangalore, was brutally murdered as he was returning home from work at 10.30 pm. His wristwatch, ring, wallet, laptop, cell phone and car were missing, and robbery seems to be the motive behind the crime.

In the last six months, five cases of carjacking have been reported from Bangalore alone.

It is quite obvious that India’s recent economic growth has not trickled down to the bottom. The majority of the population has been sitting by the sidelines watching the buildings grow taller and the roads get wider. What’s concerning is that there doesn’t seem to be any concerted government effort to rectify the situation. For the poor, a severe lack of basic health, education and training opportunities mean that not only are they in a miserable condition today, there isn’t much hope for the future either. It is only a matter of time when they barter their spades for knives, in a desperate attempt to liberate themselves from the throes of poverty.

A country with such an unequal distribution of opportunities and wealth can never promise long-term security and stability. Any individual or establishment that symbolizes this economic and social disparity will be under threat. India wishes to become an economic superpower. But, if India wants what it wishes, these glaring social and economic problems must be addressed directly and earnestly. And until, these problems are addressed, no company setting up base in India can feel truly secure.

While, the government must own primary responsibility for social upliftment, the answer to India’s woes probably lies in a public-private partnership towards addressing India’s deprived poor. It’s happening in pockets. Companies like the Tata Group have ingrained social responsibility in their DNA. Azim Premji Foundation, promoted by the Wipro Chairman, is working with state governments to improve grassroots level education in rural India. What’s probably now needed is for all private enterprises and government bodies to collaborate, to create a larger, more meaningful, nationwide impact.

Corporations should not view it purely from a philanthropic perspective. A bigger pool of educated and employable population will mean availability of better quality human resources. And a stable society creates a far more secure environment to do business in. Cleansing the environment where you are running your operations definitely makes better long term business sense. And the sooner corporations realize this, the better it is for everyone.

Source: Social Inequality Threatening India's Economic Stability | Fast Company
 
Here goes your recent problems:
Problems Facing Indian Economy


1. Inflation.

Fuelled by rising wages, property prices and food prices inflation in India is an increasing problem. Inflation is currently between 6-7%. A record 98% of Indian firms report operating close to full capacity (2)With economic growth of 9.2% per annum inflationary pressures are likely to increase, especially with supply side constraints such as infrastructure. The wholesale-price index (WPI), rose to an annualised 6.6% in Janu 2007 (1)

2. Poor educational standards.

Although India has benefited from a high % of English speakers. (important for call centre industry) there is still high levels of illiteracy amongst the population. It is worse in rural areas and amongst women. Over 50% of Indian women are illiterate

3. Poor Infrastructure.

Many Indians lack basic amenities lack access to running water. Indian public services are creaking under the strain of bureaucracy and inefficiency. Over 40% of Indian fruit rots before it reaches the market; this is one example of the supply constraints and inefficiency’s facing the Indian economy.

4. Balance of Payments deterioration.

Although India has built up large amounts of foreign currency reserves the current account deficit has deteriorate in recent months. This deterioration is a result of the overheating of the economy. Aggregate Supply cannot meet Aggregate demand so consumers are sucking in imports. Excluding workers remittances India’s current account deficit is approaching 5% of GDP


5. High levels of debt.

Buoyed by a property boom the amount of lending in India has grown by 30% in the past year. However there are concerns about the risk of such loans. If they are dependent on rising property prices it could be problematic. Furthermore if inflation increases further it may force the RBI to increase interest rates. If interest rates rise substantially it will leave those indebted facing rising interest payments and potentially reducing consumer spending in the future


6. Inequality has risen rather than decreased.

It is hoped that economic growth would help drag the Indian poor above the poverty line. However so far economic growth has been highly uneven benefiting the skilled and wealthy disproportionately. Many of India’s rural poor are yet to receive any tangible benefit from the India’s economic growth. More than 78 million homes do not have electricity. 33% (268million) of the population live on less than $1 per day. Furthermore with the spread of television in Indian villages the poor are increasingly aware of the disparity between rich and poor. (3)


7. Large Budget Deficit.

India has one of the largest budget deficits in the developing world. Excluding subsidies it amounts to nearly 8% of GDP. Although it is fallen a little in the past year. It still allows little scope for increasing investment in public services like health and education.


8. Rigid labour Laws.

As an example Firms employing more than 100 people cannot fire workers without government permission. The effect of this is to discourage firms from expanding to over 100 people. It also discourages foreign investment. Trades Unions have an important political power base and governments often shy away from tackling potentially politically sensitive labour laws.


Problems Facing Indian Economy - Economics Help
 
I really admire the economic growth of India. And solely on humanitarian ground. The country is home to the biggest democracy and the biggest poverty in the world. Hundreds of millions of people can't find enough to eat and cloth...let alone the luxuries of health and education. And unless india develops economically and huge portion of humanity is going to live under poverty. India has shown tremendous economic growth, though not dispersed equally among its people, though not indigenous... but fact of the matter remains that india is now getting its kitty filled. But its irrational to consider india US or UK or china even.... not yet.
I am sorry but this is how economist think:

"Among the massive problems that confront Indians are unemployment, poverty, inequality, environmental pollution, resource management, unplanned education, health hazards, women deprivation, impact of globalisation and liberalisation and so on. Though topics covered range over a wide field of economic and social issues, there is a continuity in their presentation, which gives an individuality of its own. In fact all these issues are discussed in such an elegant style that the readers can have an opportunity to study the subject all by themselves and at their own pace while deriving benefit of a vast range of real situations both at home and abroad. The published book would be a valuable addition to the current stock of knowledge on the subject. The book would be of immense help to the academicians, researchers, students, statesmen, bureaucrats, policy-makers and general public interested on the latest development of the Indian economy." (jacket)

Source: Indian Economy and Socio-Economic Transformation : Emerging Issues and Problems : Essays in Honour of Professor Baidyanath Misra/edited by S.N. Misra
 
Lolzzzzzzzz I go and Teach what you call Economics of Development in LSE {read my intro}....... Let me educate YOU on this on dear.[Need Links????}

And try to get the sense of the message... what call center meant in the senario.... but again who am I talking to... It meant all the FDI [foreign direct investment.... which is not fixed and can be taken out].

Well honestly tell me how can you expect a meaningful reply if you choose to have flame baits in your message???? Secondly with all due respect "To Err is Human"...So yes please share some links if you can...I would like to learn from you ....


As far your post is concerned then you might be well aware of the U turn that India take as far her economic policy is concerned way back in 1991...Secondly it would wrong to consider that the backbone of our economic progress is FDI...Now mind it i am not saying that it do not play a significant role....On top of that you jmight be surorised but its Mauritius who comprises about 27% of FDI in India....Followed by US who has 13% share...Thirdly india always have produced great doctors,engineers,scientist and what not...40% of NASA employees being indians tells a story...Fourthly after the major shift in economic policies in 1990 the engine of economic growth of the Indian economy has been slowly but gradually shifted to service sector rather than industrial sector...So outsourcing happens here because we have a well developed service sector which foreign companies use to get better and cheap service....A perfect win win situation...Last but not the least India recorded a growth of 6.7% during the peak of recession...Don't it says a lot of FDI and our potential????
 
Well honestly tell me how can you expect a meaningful reply if you choose to have flame baits in your message???? Secondly with all due respect "To Err is Human"...So yes please share some links if you can...I would like to learn from you ....


As far your post is concerned then you might be well aware of the U turn that India take as far her economic policy is concerned way back in 1991...Secondly it would wrong to consider that the backbone of our economic progress is FDI...Now mind it i am not saying that it do not play a significant role....On top of that you jmight be surorised but its Mauritius who comprises about 27% of FDI in India....Followed by US who has 13% share...Thirdly india always have produced great doctors,engineers,scientist and what not...40% of NASA employees being indians tells a story...Fourthly after the major shift in economic policies in 1990 the engine of economic growth of the Indian economy has been slowly but gradually shifted to service sector rather than industrial sector...So outsourcing happens here because we have a well developed service sector which foreign companies use to get better and cheap service....A perfect win win situation...Last but not the least India recorded a growth of 6.7% during the peak of recession...Don't it says a lot of FDI and our potential????

Son I cannot shelter anyone from the harsh realities of the world;
If I mind people telling me that there are terrorist camps in Pakistan i am mad because there are!!!
If Americans and Russians mind people telling them that they have brought the world to brink of destruction.... they are mad because they have.
If you mind people telling you that your growth is yet not sustainable ...you are mad because it is not.

My point is try to check the sustainability of your economic development without the west's back patting. The link are given in the sources and I can provide you more later.

And yes i did minded the language, it is too obnoxious for an educated setting.
 
This is how you talk when your logic fails you!!!

Wait a minute buddy...Did you care to read my reply....Let me repeat...

DONT HAVE FLAME BAITS IN YOU MESSAGE AND EXPECT A MEANINGFUL REPLY
 
By the way read Freakonomics by Steven Levitt and Stephen J. Dubner, they will clear up some of the delusions we normally hold. And secondly compare figures with independent sources such as World Bank, IMF, CIA, ROBO Bank etc. all the data provided by state banks is molded pose a rosy picture. And the doctors and engineers you are talking about sends remittances, which for indian are US $30 billion....a very small share in the whole pie....don't you think.
 
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