Indian GDP Shrinks to $1.7 Trillion in 2013-14

[SouthDesi]

The India Rupee was in the low to mid-50s against the Dollar back in 2012. As of now, it's valued at 62.31 to one Dollar. Last year, the Rupee fell as low as 68+. The IMF and WB will take the average value of the rupee in the year 2013 and compute Dollar-denominated GDP base on that.

In other words, not good, not good at all.

But, as they used to say, 'slow and steady wins the race', provided that India is not racing in the wrong direction.

Slow and steady as she goes... Chuckle.

Thanks for spending so much time on Indian news daily, going through so many papers to filter the type of news you wanted to see and posting as new threads. Appreciate your enormous efforts and interest you are showing on India. Keep it up.

 

[favabeans]

Thanks for spending so much time on Indian news daily, going through so many papers to filter the type of news you wanted to see and posting as new threads. Appreciate your enormous efforts and interest you are showing on India. Keep it up.

You are welcome! By the way, what is your opinion on India's medium term prospects? Is it possible to jugaad a solution to India's ills?

 

[SouthDesi]

You are welcome! By the way, what is your opinion on India's medium term prospects? Is it possible to jugaad a solution to India's ills?

Let's see what will happen in coming elections and the direction set by new GOVT after that.

 

[favabeans]

Let's see what will happen in coming elections and the direction set by new GOVT after that.

Are you optimistic?

 

[SouthDesi]

Are you optimistic?

Of-course, I am. Lot has changed now and focus is shifted towards Infra,, manufacturing, development etc. I know it's slow, but it will get there. I think one of the issue here is, everyone is trying to compare with China's success which is wrong. Even though there is corruption in China, things are getting done fast and it has created an investor friendly atmosphere in the country. reforms never took place in India as they did in China. China is moved way ahead for now. I think, now they understood in India and the agenda for next elections will be purely based on economy and development. This is kind of 1st elections, which is focused on a personality and background of the candidates running for the office.

 

[ChineseTiger1986]

So this will be the 2014 GDP prediction.

US: 17 trillion
China: 10.5 trillion
India: 1.7 trillion

 

[Cyberian]

Tut, tut, tut. Becharay Shupa Powa Shaikh Chillion kay khwab akhir haqeeqat say taqra'a gai.

 

[favabeans]

So this will be the 2014 GDP prediction.

US: 17 trillion
China: 10.5 trillion
India: 1.7 trillion

And here I thought India was supposed to cross the $2 trillion dollar mark in 2012. It's gone backwards.

Slow and steady backwards wins the race eventually, probably, maybe?

 

[ChineseTiger1986]

And here I thought India was supposed to cross the $2 trillion dollar mark in 2012. It's gone backwards.

Slow and steady backwards wins the race eventually, probably, maybe?

The lack of the concrete economic sector such as manufacturing is the biggest problem for the Indian economy.

 

[favabeans]

The lack of the concrete economic sector such as manufacturing is the biggest problem for the Indian economy.

My friend, haven't you heard? The Indians are skipping industrialization and are heading straight for a 'post-industrial', 'service-based' economic nirvana.

I remember it was all the rage back in 2006/7, when many Indian talking heads openly gloated that industry was not important, and services alone would propel India to become a superpower by 2020.

Well, they've got six years to go.

So let's not write India off just yet, for 'slow and steady wins the race', and India has the 'jugaad' governance, with demographic dividend and Italian management.

Quite an eclectic mix.

Castles in the sky... they could be built in dreams...

 

[Chronos]

My friend, haven't you heard? The Indians are skipping industrialization and are heading straight for a 'post-industrial', 'service-based' economic nirvana.

I remember it was all the rage back in 2006/7, when many Indian talking heads openly gloated that industry was not important, and services alone would propel India to become a superpower by 2020.

Well, they've got six years to go.

So let's not write India off just yet, for 'slow and steady wins the race', and India has the 'jugaad' governance, with demographic dividend and Italian management.

Quite an eclectic mix.

Castles in the sky... they could be built in dreams...

That boat left years ago. China is not even in India's league anymore. How can you compete with a nation that is literally ahead of you decades in terms of infrastructure?

India is right now competing with the top economies of Africa. I hear Ghana is beating us too.

A personal question, what is your interest in India? (An honest answer would be good)

 

[ChineseTiger1986]

My friend, haven't you heard? The Indians are skipping industrialization and are heading straight for a 'post-industrial', 'service-based' economic nirvana.

I remember it was all the rage back in 2006/7, when many Indian talking heads openly gloated that industry was not important, and services alone would propel India to become a superpower by 2020.

Well, they've got six years to go.

So let's not write India off just yet, for 'slow and steady wins the race', and India has the 'jugaad' governance, with demographic dividend and Italian management.

Quite an eclectic mix.

Castles in the sky... they could be built in dreams...

This has been proved to be wrong, you can't never become a strong nation without the industrialization.

Just like Saddam Hussein bought a large amount of toys before the first Gulf War, but his army still got crushed like an eggshell when facing a true military superpower like USA.

 

[favabeans]

That boat left years ago. China is not even in India's league anymore. How can you compete with a nation that is literally ahead of you decades in terms of infrastructure?

But but but... An advanced serviced-based economy needs comparably less infrastructure, according to many eminent Indian experts. They are of the opinion that China has overbuilt her roads, sewers, electric grids, airports, seaports, high-speed rail network, etc. They think those are not needed for India to be a superpower (by 2020). A fiber link and some telephones are all India needs to be an overwhelming economic force.

India is right now competing with the top economies of Africa. I hear Ghana is beating us too.

Ghana may indeed be out of India's reach, may I suggest Angola?

What is your interest in India? (An honest answer would be good)

Honestly, I enjoy comedy, or more precisely, tragicomedy.

This has been proved to be wrong, you can't never become a strong nation without the industrialization.

Just like Saddam Hussein bought a large amount of toys before the first Gulf War, but his army still got crushed like an eggshell when facing a true military superpower like USA.

I see you missed my sarcasm. Yes, India has no shortage of hare-brained 'experts', starting with Kaushik Basu. You should really read up on what this buffoon wrote in the early to late 2000s'. Some real gems of turds right there.

And no, there is absolutely no skipping industrialization, for modern services are built on modern industries. You can't have castles in the sky; you just can't.

 

[Genesis]

That boat left years ago. China is not even in India's league anymore. How can you compete with a nation that is literally ahead of you decades in terms of infrastructure?

India is right now competing with the top economies of Africa. I hear Ghana is beating us too.

A personal question, what is your interest in India? (An honest answer would be good)

honestly? The Americans are so F***ing far away. Even after 30 years of relentless chasing, with a ton of sacrifices, we are still about a decade away in reaching their nominal GDP. Even then per capita is still 2 to 3 times ours, if not more.

In terms of military, any time before 2030, we are pretty much stuck in Asia, and even after 2030, it'll be a hell of a fight to get out until about mi 2040.

So at least what motivates people is look at what we have achieved in this period. Or else it'll look like we are standing still and that's pretty sad.

It's like what athletes do, train a lot, then have a little fun, then keep going. You need some sort of diversity to stay sane and motivated.

 

[ChineseTiger1986]

I see you missed my sarcasm. Yes, India has no shortage of hare-brained 'experts', starting with Kaushik Basu. You should really read up on what this buffoon wrote in the early to late 2000s'. Some real gems of turds right there.

And no, there is absolutely no skipping industrialization, for modern services are built on modern industries. You can't have castles in the sky; you just can't.

I knew you were sarcastic, but i don't want to deliberately mock our Indian friends in their section.