India Developing, but still a long way to go

[patentneer]

Re: the fall in Indian Rs., it came as a bonus for toop Indian Co.'s with Global operations. Indian MNC's.

Tata Group, re: Corus, NatSteel, Jaguar, Land Rover, Teleglobe, telecom fiber, mines in Indonesia, beverages ...

Birla, Infosys, Wipro, GVK, ONGC, Bajaj, Mahindra etc. have vast Global operations now. This Rs. fall is a windfall for Indian MNC's.

What a way to boost an economy .

 

[TheGujju]

^^

Facts, not TV/media sensations, but hard facts!

India solves it's problems systemically, they are large problems.
Some of India's problems go back 100's if not 1000 yrs., other's have amplified or diluted.

1. • The low hanging fruit of economic reforms have done well. All industrial and services sectors have actually boomed beyond belief. In 20 yrs., $ 108 Billion IT, $ 25 Billion crude refining or $ 10 Billion exports and huge local consumtion are good eg.'s. These sectors grew 20-35 %.
   • Economic reforms re: subsidies, labour, land, minerals, farming are very hard to take on as they have even stronger vested interests then business sectors. No change till elections. Then things will change slowly. This Aadhar scheme is basically an anti-subsidy pilfering scheme. Will be done in a couple of yrs. This may add 1-2 % to India's GDP. Farming reform, mining reform will add 2-3 %. Labour and land reform may even add 3-5 % to the economy because India is a 80% arable land + worlds' largest labour pool country.
   • The above will expand markets and the manufacturing and services industries will recover to decent growth again. With all sectors synchronised, a long, sustained 35-50 yr. 8-10 % boom will start by midway for the next govt.

Want to know about the fall of the Ind. Rs. ?

• The Rs. fall is fantastic news for Indian economy since India doesn't import $hit! Only exports.
  The falling Rs. make Indian IT, Auto, Refinery, gems & jewellery $ export sectors boom. Inversely, $ and hard currency remittance inflows get a boost. Both are among the world's largest and in the $ 100's of Billions!
  
  Put another way, India's economy grew ~ 15-18 % in that one shot of the Rs. downgrade.
  
  The major import item of energy - oil & gas, are from 'friends' Iraq, Iran, S. Arabia, Oman, UAE who trade on easy terms, often Rs. terms. 1/2 the stuff is paid for in Rs. eg. Iran.

Western Maharashtra's, and now Gujarat's water problems of before are hardly mega issues now re: dams and canal networks, specially in West Maharashtra on the dry, inland side where little rain and run-off meant dry, barren land. Gu. is a relatively new state hived off from erstwhile Bombay presidency via Rajasthan

Since British days this area, like colonial Punjab, produces cotton and alcohol grade sugarcane by the truck loads.

I do not see how that is possible. The economy actually SHRANK in real terms as the value in $ terms of our economy was reduced considerably. Although I do agree that export market is going to be better for SOME companies, it will not be good at all for many industries that import raw material. India still produces very little high-tech specialist goods locally and they need to be imported. A lot of high-end manufacturing units will have to suffer. Also, fuel is indeed a major chunk of our imports. Do these countries really accept INR? I do not think so! They demand 100% dollar payments from the last time I checked because the INR is worth nothing now.

As a side note, why the bloody fcuking hell are we importing so much gold!! Has the nation gone crazy!?!? It stands at 12% of import value. This has to stop.

 

[Mritunjaya]

very nicer,how much $ for each square meters?
@gslv mk3

LOL ...that's my house in Mumbai.

Current price would be around 3,400 $ per sq. meter. Not too many houses are available for sale here.

 

[djsjs]

LOL ...that's my house in Mumbai.

Current price would be around 3,400 $ per sq. meter. Not too many houses are available for sale here.

I heared housing price in big cities i of India is very high. 3400$ is OK , but I guess most people can never afford such a house.

 

[Bombaywalla]

I heared housing price in big cities i of India is very high. 3400$ is OK , but I guess most people can never afford such a house.

Most people cannot afford a lot of things, not just here, but anywhere in the world. The fact however, is that a lot of people can afford to buy expensive apartments in Bombay city and its suburbs which is why we build 'em in the first place. Prices are unrealistically high in many places, but that's another story. FYI, the pic that you referred to in your question is from the rather distant eastern suburb of Powai.

 

[Chanakya's_Chant]

Okk Some pics from my city Lucknow, Uttar Pradesh:-

Ambedkar Udyaan Lucknow Left Dome

Way to the Elephant Gallery

TCS Lucknow

Sushant Golf City Signature Tower, Lucknow - 245 metres (804 ft) 65 Floors (38th Highest in India)

Vidhan Bhawan, Lucknow

Ambedkar Smarak

#Lucknow is seriously lagging behind other state capitals, the completion of Metro Project Phase I in 2016 will render some hope for the planned infrastructure projects on the metro route....

 

[Mritunjaya]

I heared housing price in big cities i of India is very high. 3400$ is OK , but I guess most people can never afford such a house.

At today's price even I cannot afford it. I brought it more than 10 year ago when the price was nowhere near that. That too my purchase was an upgrade . I had to sell my earlier flat in Mumbai which I shared with my brother and we both brought seperate 2 BHK in Powai, later I sold that, took a housing loan to upgrade to that to a 3 BHK.

Now all this was possible only because my parents settled in Mumbai and brought a house 40 years back .

For Non Mumbaikars, I do not know how they can afford a decent place. The pricing is just absurd.

 

[Mritunjaya]

Most people cannot afford a lot of things, not just here, but anywhere in the world. The fact however, is that a lot of people can afford to buy expensive apartments in Bombay city and its suburbs which is why we build 'em in the first place. Prices are unrealistically high in many places, but that's another story. FYI, the pic that you referred to in your question is from the rather distant eastern suburb of Powai.

You are calling Hiranandani Gardens a distant suburb ? wtf.

In that case what would you call Thane, Dombivilli, Vashi and Nerul ?

 

[djsjs]

You are calling Hiranandani Gardens a distant suburb ? wtf.
In that case what would you call Thane, Dombivilli, Vashi and Nerul ?

maybe he wanted to tell me ,a Chinese,that house price in mumbai is higher than i thought and further indicate that the city is very developed .but he forgot that high housing price is bad for most of the people.in China we suffered much of the high house price.

 

[Mritunjaya]

maybe he wanted to tell me ,a Chinese,that house price in mumbai is higher than i thought and further indicate that the city is very developed .but he forgot that high housing price is bad for most of the people.in China we suffered much of the high house price.

This is the wrong thread to discuss this but he is right in saying that Powai rates are nowhere near the highest in Mumbai. Apartments in cuff parade as been sold for 21,000$ per sq meter. Now that is expensive.

 

[Bombaywalla]

You are calling Hiranandani Gardens a distant suburb ? wtf.

In that case what would you call Thane, Dombivilli, Vashi and Nerul ?

LOL I'd call those 'super distant' suburbs, obviously. Seriously though, Powai used to be totally cut off from the rest of the city up until the time Hiranandani complex sprung out of nowhere over a decade ago. As a little kid, I remember it taking ages to get to Hakone (carting), and there used to be nothing in the area except for L&T, IIT, and a few randomly scattered buildings. Great memories.

maybe he wanted to tell me ,a Chinese,that house price in mumbai is higher than i thought and further indicate that the city is very developed .but he forgot that high housing price is bad for most of the people.in China we suffered much of the high house price.

All I can say is that you've got serious comprehension problems.

 

[Mritunjaya]

LOL I'd call those 'super distant' suburbs, obviously. Seriously though, Powai used to be totally cut off from the rest of the city up until the time Hiranandani complex sprung out of nowhere over a decade ago. As a little kid, I remember it taking ages to get to Hakone (carting), and there used to be nothing in the area except for L&T, IIT, and a few randomly scattered buildings. Great memories.

The Heart of Mumbai is shifting. The new heart is now Ghatkopar, Chembur, espicially since the new Airport has been sanctioned near Panvel and the new expressway built from Chembur to VT. Chembur/Ghatkopar will now be serviced by the Metro, Monorail and is at the junction of Vashi and new Mumbai.

When was the last time you visited Hiranandani Gardens ? seriously it is the BEST residential complex in whole of Mumbai. It the only place where there are multiple sizable gardens next to your house. Only drawback is you need to have a car if you want to live in Hiranandani.

You appear to be the south Mumbai kind ...hence the snobby comment about Powai being a suburb

 

[Bombaywalla]

When was the last time you visited Hiranandani Gardens ? seriously it is the BEST residential complex in whole of Mumbai. It the only place where there are multiple sizable gardens next to your house. Only drawback is you need to have a car if you want to live in Hiranandani.

You appear to be the south Mumbai kind ...hence the snobby comment about Powai being a suburb

LOL I do like Hiranandani a lot; the only eff up being it takes me over an hour to get there. All I was saying is that whether you or anybody else likes it or not, it is still technically a distant suburb.

 

[Bombaywalla]

Some photos from today...

The Mahim-Dadar-Worli skyline, Bombay

 

[Bombaywalla]

Some more...