Indian Economy-News & Updates

[Flintlock]

Heard of crowd mentality happens all over the world.. but never heard of such a thing specifically for Delhi...

I've seen several news reports over the years...but here are the most recent ones:

Man dies bleeding on road but busy city doesn't care-Delhi-Cities-The Times of India

Not sure that people really paint such a rosy picture of Mumbai... cramped houses, narrow roads, slums, high rises, stinking sea, heat etc.

That doesn't say anything about the people of Mumbai.

Oh cramped houses? Been to Old Delhi?

but Delhites are very aggressive and civic sense to an extent is lacking...
even the Lt. Gov of Delhi I remember said that North West Indians take pride in breaking the law..

I think this attitude has very deep roots. The people of Delhi have no love for the state. I guess a thousand years of foreign occupation could take the blame.

How far is Navi Mumbai from Mumbai?
Gurgaon IMO is underhyped...

Its across the creek...

 

[Vinod2070]

SA, Delhites are one of the warmest people. The way they come so readily to help each other and their neighbours is unparalleled.

I have lived in many Indian cities and in my opinion Delhi's people are some of the best. Of course there are civic problems and also the people are sometimes apathetic in public places (not in their neighbourhoods).

The small businesses in Delhi are again the most professional and helping compared to most other cities.

 

[Flintlock]

Navi Mumbai

 

[Flintlock]

SA, Delhites are one of the warmest people. The way they come so readily to help each other and their neighbours is unparalleled.

I have lived in many Indian cities and in my opinion Delhi's people are some of the best. Of course there are civic problems and also the people are sometimes apathetic in public places (not in their neighbourhoods).

The small businesses in Delhi are again the most professional and helping compared to most other cities.

That's the whole point. They will help neighoubrs, friends, relatives.

But if a stranger needs their help, or if the society needs help, they will never do it.

On the other hand, in Mumbai, neighbours rarely know each other. But people are always ready to work for the common good, and respect law and order.

Dunno bout small businesses...

 

[Flintlock]

More navi Mumbai:

 

[Vinod2070]

But if a stranger needs their help, or if the society needs help, they will never do it.

You are a stranger when you come to a new neighborhood. Ask anyone from any part of India the kind of warmth shown and the help rendered when he settles in a Delhi neighborhood.

But yes, I agree that people are a bit apathetic to the larger society and in public places. I guess it is due to the fact that Delhi has too many immigrants so the city identity is not strong and second the hectic pace of life and the hustle of the daily life (traffic, civil issues) etc. take their toll.

 

[Flintlock]

You are a stranger when you come to a new neighborhood. Ask anyone from any part of India the kind of warmth shown and the help rendered when he settles in a Delhi neighborhood.

But yes, I agree that people are a bit apathetic to the larger society and in public places. I guess it is due to the fact that Delhi has too many immigrants so the city identity is not strong and second the hectic pace of life and the hustle of the daily life (traffic, civil issues) etc. take their toll.

I guess being the centre of politics doesn't help either....having so many criminals gather in one place must be taking its toll on any city...

 

[indiapakistanfriendship]

But if a stranger needs their help, or if the society needs help, they will never do it.

Mate we had a meeting at the India international centre, I had to file a mail urgently but unfortunately on that particular day internet was down at the centre, so I took a 3 km walk to a nearby internet cafe only to find that the cafe was full (all seats occuped) with pan chewing day traders(stock) and it would have been the last place I would have wanted to request someone for system and yet due to urgency I went and approached one and explained to him my situation and surprisinly though he was busy he and two people next to him offered their system and I mailed and thanked him, however when I offerd to pay for that half hour slot the lad refused to accept the payment and was happy that he could help me , that speaks a lot for Delhi ites as they came forward to help a starnger(me) without any hesitation .

Cheers

 

[Flintlock]

^^^Please, you are totally messing up the context here.

If instead of being an educated-looking person, you had been a poor person, probably nobody would have thought have helping you.

And if you get into an accident, rest assured there will be very few delhiites who will take a few minutes to help you out.
One of my friends had an accident in dlehi, and was unconscious for a few hours, till the ambulance took him to the hospital. When he woke up, his wristwatch and wallet were missing.

Also, if you get into trouble and need a witness to testify, be prepared to either spend big money or get a fake witness.

 

[vish]

Ok… I’m a Bombayite to the core… and yes the city is slummed, dirty, crowded… but that’s a bit like rejecting Cindy Crawford simply because you don’t like the mole…

I have relatives in Delhi, and I visit the place more often… the worst factor with regard to Delhi is the utter lack of public transport and Delhites…

Bombay… the best part is the cosmopolitan fabric of the city… and the women… and the professionalism… and the speed of life… and the privacy…

And by the way, just look at the numbers:

In 2005:
Bombay GDP: $126Bn
Delhi GDP: $93Bn
Link: City Mayors reviews the richest cities in the world in 2005

The BT-Survey, India's Best Cities For Business, 2007
Bombay tops again.
Link: Business Today - India’s No.1 Business Magazine

A piece of advice to all of you: Once you live in Bombay, believe me things change.

 

[acer]

The Economic Times ^ | 8th Feb 2009 | Shantanu Nandan Sharma

Posted on 08 February 2009 13:50:41 by MimirsWell

Call it the brighter side of the current downturn. India may pip export-dependent China in the last quarter of FY09 and emerge as the fastest growing nation among all large economies. As China’s GDP growth rate dropped to 6.8% during October to December quarter and is expected to go down further, the Indian government has become hyper-active to achieve at least a 6.5% growth in Q4 to register a win over China.

If India achieves a better growth rate than China even for one quarter, the message will go across to the world and help India in wooing foreign capital, waiting to chase growth stories. Already, government officials in India have been highlighting reports of a few investment analysts who doubted China’s official GDP numbers and claimed that it could just be in the positive territory in the last quarter.

A secretary in the government of India confirmed to SundayET that India has a brighter chance of overtaking China in the last quarter of FY09, or Q1 in case of China which follows the calendar year. “China is heavily dependent on exports and the way things are unfolding China’s GDP for January-March quarter would be quite low. We have so far achieved 7.9% and 7.6% growth in the first two quarters, according to the provisional numbers. Though our Q3 number, to be announced by month end, is expected to be less than the comparable number in China (6.8% in Oct-Dec, 08), the softening of interest rates will stimulate demand and ensure a faster growth rate than China in Q4,” he said.

Though the Chinese economy grew at 9% during 2008, down from the revised 13% growth rate in 2007, the last quarter number (6.8%) has made the Indian authorities hopeful that India might be able to pip China in GDP growth. As China’s export constitutes 37% of its economy against 13% in the case of India, the recession in the developed world will make China suffer the most.

Prime Minister’s economic advisory council (EAC) member Satish C Jha said he won’t be surprised if India grew faster than China. “The situation in China is worse than us. Exports are drastically coming down and China is hit hard. Our economy is driven more by domestic demand and our rural economy is much more resilient than that of China. If our stimulus packages are implemented properly, I won’t be surprised if India pips China in GDP growth,” Mr Jha said.

RACE HOTS UP 6.8% CHINA’S GDP GROWTH RATE IN OCT-DEC QUARTER 37% CONTRIBUTION OF EXPORTS TO CHINA’S ECONOMY 7.6% INDIA’S GDP GROWTH RATE IN JULY-SEPT QUARTER 13% CONTRIBUTION OF EXPORTS TO INDIA’S ECONOMY

 

[wangrong]

The time may prove all

 

[linkinpark]

Not a big achievement. We have to see if India can achieve 7% growth as predicted.

 

[acer]

It is not an achievement ..But onething clearly emerging out is our economy is not very much dependent on export..but it is developing due to domestic consumption..

 

[linkinpark]

It is not an achievement ..But onething clearly emerging out is our economy is not very much dependent on export..but it is developing due to domestic consumption..

It is true that we also have a healthy domestic consumption. Right now I'm in India and wherever I go for shopping there are huge discounts which I have never seen before which shows the desperation of the retail shops. Even real estate is also down. American recession has had a bearing on the world as well as Indian economy. Experts say that, from 2009 you will start seeing much more effects of the economy crisis, so wait for more.