India faces mass default and restructuring as devaluation looms

[Chinese-Dragon]

Live and let live.

Fair point. Though this is probably getting beyond the scope of the thread topic.

 

[shuttler]

How is 2.5 m gays for a 1.2 billion population the largest gay population in the world. This is statistically impossible because in any given society of the world around 10 % of the male population is either gay or bisexual. The difference is how the 90 % society treats them. I'd rather live in a society where people don't care with whom you share the bed and what you do with that person as long as it's consensual.

Live and let live.

agree to disagree. I am not an expert on this! sorry!

How can the indians rescue their falling rupee? any idea?

 

[ashok321]

How can the indians rescue their falling rupee?

How is this a cause of concern ONLY for indians?
Why not other countries who have turned a table on this issue like argentina and brazil?

 

[Chinese-Dragon]

How can the indians rescue their falling rupee?

How is this a cause of concern ONLY for indians?
Why not other countries who have turned a table on this issue like argentina and brazil?

Because Argentinians and Brazilians don't come on here and insult every other country on this forum. But Indians do.

This is just a little of what you guys have been giving to others.

 

[Aramsogo]

How can the indians rescue their falling rupee?

How is this a cause of concern ONLY for indians?
Why not other countries who have turned a table on this issue like argentina and brazil?

Argentina defaulted. Brazil was saved by its vast natural resources. Nothing drops forever. 60 to 62 short term is about right for the rupees. Long term you guys need to invest in human capital and infrastructure and not wait for some other country to do it for you. I keep hearing Indians daydreaming that Japan is going to invest is this or that Indian project. The Japanese are not stupid and have their own problems.

 

[russellpeters]

agree to disagree. I am not an expert on this! sorry!

How can the indians rescue their falling rupee? any idea?

the current populist government has literally kicked investors in their teeth. the only way to stop the sinking ship of the Indian ruppee is to enact tax reforms, reforms in spending, reforms in bureaucratic structure, and reforms in investment.

these 4 things can save the economy. if these four things are addressed, and corruption is rooted out to a lesser level, bureaucracy is transformed and investors pacified, India has the potential to grow at 10-12%

think about it. i am not a fanboy. i have no patriotic blindness. this simple math. with all its problems india grows at 7%. if they are solved even partially a 10% growth is not hard to achieve. as faith returns to the markets, ruppee will stop sliding.

Argentina defaulted. Brazil was saved by its vast natural resources. Nothing drops forever. 60 to 62 short term is about right for the rupees. Long term you guys need to invest in human capital and infrastructure and not wait for some other country to do it for you. I keep hearing Indians daydreaming that Japan is going to invest is this or that Indian project. The Japanese are not stupid and have their own problems.

the japanese have invested in the past and are bound by there strategic concerns to continue investing. the amount of japanese investement current and already done is so large, and they are committed to continue spending in India. They have their own "problems" you see.and they are not stupid.

 

[shuttler]

the current populist government has literally kicked investors in their teeth. the only way to stop the sinking ship of the Indian ruppee is to enact tax reforms, reforms in spending, reforms in bureaucratic structure, and reforms in investment.

these 4 things can save the economy. if these four things are addressed, and corruption is rooted out to a lesser level, bureaucracy is transformed and investors pacified, India has the potential to grow at 10-12%

think about it. i am not a fanboy. i have no patriotic blindness. this simple math. with all its problems india grows at 7%. if they are solved even partially a 10% growth is not hard to achieve. as faith returns to the markets, ruppee will stop sliding.

the sinking of the rupees is happening round the corners. how long will it take just to legislate? let alone putting into practise!
you have tax on capital gains for FIIs that only serves to drive investors away, haven't you?

You have tried to implement tax on retail gold sales but due to the massive protests and strikes, your government scraps the tax policy in a hurry to quell public uproars!

 

[ashok321]

Argentina defaulted. Brazil was saved by its vast natural resources. Nothing drops forever. 60 to 62 short term is about right for the rupees. Long term you guys need to invest in human capital and infrastructure and not wait for some other country to do it for you. I keep hearing Indians daydreaming that Japan is going to invest is this or that Indian project. The Japanese are not stupid and have their own problems.

Argentina defaulted...india did not.....brazil like india has vast natural resources....and when you say nothing drops forever, i won the arguemnt because india is not going to drop for ever.....take it or leave it....

 

[russellpeters]

the sinking of the rupees is happening round the corners. how long will it take just to legislate? let alone putting into practise!
you have tax on capital gains for FIIs that only serve to drive investors away, haven't you?

You have tried to implement tax on retail gold sales but due to the massive protests and strikes, your government scraps the tax policy in a hurry to quell public uproars!

yes it is indeed a stupid government.

the downside of democracy, is that it is just a fancy way of saying populism.

yet Indian democracy can surprise in time of crisis, as in 1991.

the indian government has become arrogant and lax partly due to the Congress winning a big majority in the general elections.
they assumed that growth is granted and happily reaped the fruits of the past reforms without thinking much about future.

new reforms are needed, fast and furious.

 

[RiazHaq]

For at least two years in a row, BRIC has, in the words of SGS's Albert Edwards, stood for Bloody Ridiculous Investment Concept, not an acronym for populous emerging markets of Brazil, Russia, India and China as Goldman Sachs' Jim O'Neill saw it ten years ago.

In fact, O'Neill has himself expressed disappointment in India, one of the BRICs, a designation that has boosted foreign investment in India and helped accelerate its economic growth since 2001.

"All four countries have become bigger (economies) than I said they were going to be, even Russia. However there are important structural issues about all four and as we go into the 10-year anniversary, in some ways India is the most disappointing," said O'Neill as quoted by Reuters.

Noting India's significant dependence on foreign capital inflows, Jim O'Neill went further and raised a concern about the potential for current account crisis. "India has the risk of ... if they're not careful, a balance of payments crisis. They shouldn't raise people's hopes of FDI and then in a week say, 'we're only joking'". "India's inability to raise its share of global FDI is very disappointing," he said.

Haq's Musings: Goldman's O'Neill "Disappointed" as India "Explodes"

 

[russellpeters]

For at least two years in a row, BRIC has, in the words of SGS's Albert Edwards, stood for Bloody Ridiculous Investment Concept, not an acronym for populous emerging markets of Brazil, Russia, India and China as Goldman Sachs' Jim O'Neill saw it ten years ago.

In fact, O'Neill has himself expressed disappointment in India, one of the BRICs, a designation that has boosted foreign investment in India and helped accelerate its economic growth since 2001.

"All four countries have become bigger (economies) than I said they were going to be, even Russia. However there are important structural issues about all four and as we go into the 10-year anniversary, in some ways India is the most disappointing," said O'Neill as quoted by Reuters.

Noting India's significant dependence on foreign capital inflows, Jim O'Neill went further and raised a concern about the potential for current account crisis. "India has the risk of ... if they're not careful, a balance of payments crisis. They shouldn't raise people's hopes of FDI and then in a week say, 'we're only joking'". "India's inability to raise its share of global FDI is very disappointing," he said.

Haq's Musings: Goldman's O'Neill "Disappointed" as India "Explodes"

here comes the think tank.

 

[shuttler]

yes it is indeed a stupid government.

the downside of democracy, is that it is just a fancy way of saying populism.

yet Indian democracy can surprise in time of crisis, as in 1991.

the indian government has become arrogant and lax partly due to the Congress winning a big majority in the general elections.
they assumed that growth is granted and happily reaped the fruits of the past reforms without thinking much about future.

new reforms are needed, fast and furious.

Have you read the book by Edward Luce? He has pointed out the ills of your country succinctly within a book on a place with 1000s years of history!

Democracy is not the panacea for everything! I hope the world has come to realise that. Democracy is not universally applicable to every country!

 

[humanfirst]

We have faced crises of far worse nature and have overcome it..So i don't think the present crises is unmanageable for authorities.Btw its funny to see Pakistanis celebrating this as a demise of India while their currency once equal to indian rupee is now 92 PKR per USD and further going down..

 

[russellpeters]

Have you read the book by Edward Luce? He has pointed out the ills of your country succinctly within a book on a place with 1000s years of history!

Democracy is not the panacea for everything! I hope the world has come to realise that. Democracy is not universally applicable to every country!

i really dont need books to tell me about the good and the bad of my country. my history, my economics, and my social sciences are all good. though I have read the book.

The issues that surround India, are not faced by any country either in variety or magnitude. India is the worlds biggest social experiment. One that was prophesied by all to fail, to disintregate, to vanish away. yet it stands, huffing, panting, tired. but not hopeless.

Yunan-o-Misr-o-Roma Sab Mit Gaye Jahan Se,
Ab Tak Magar Hai Baki Naam-o-Nishan Hamara,
Kuchh Baat Hai Ke Hasti Mit’ti Nahin Hamari,
Sadiyon Raha Hai Dushman Daur-e-Zaman Hamara. - Iqbal.

"Greece, Egypt, Rome are all extinct from the world
But our renown and fame have continued so far
There is some secret that our existence is not effaced
For centuries time's vicissitudes have been our foe"

i believe that no single model of government is universally good. in fact i have been thinking of a merito-auto-demo-cratic government lol. a triangle.

ultimately, in the very far future, I believe that governments will have to be abolished. but thats far away. the idea the men needing governing sounds like children needing nannies...

 

[shuttler]

We have faced crises of far worse nature and have overcome it..So i don't think the present crises is unmanageable for authorities.Btw its funny to see Pakistanis celebrating this as a demise of India while their currency once equal to indian rupee is now 92 PKR per USD and further going down..

The same old thing appears to keep repeating itself after a certain period. may be 5 may be 10 years.
the moral is: have you learnt from crisis?

you dont have to blame Pakistan for that. You are harsh on them and on us!

i really dont need books to tell me about the good and the bad of my country. my history, my economics, and my social sciences are all good. though I have read the book.

i believe that no single model of government is universally good. in fact i have been thinking of a merito-auto-demo-cratic government lol. a triangle.

ultimately, in the very far future, I believe that governments will have to be abolished. but thats far away. the idea the men needing governing sounds like children needing nannies...

you will be in eternal chaos!