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Ghazwa e Hind still has to happen bro, after that Imam Mehdi in Syria…..coming soon
Is Shahzad Chaudhry Right "On India"?
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Why would India listen to and start a dialogue on pending issue when Pakistan is at its worst economic condition, the country need to talk from a position of strength.
Now India will talk with its own terms and conditions, Pakistan need to first put her house in order. A strong government with people mandate can only take the country out of the mess.
Now India will talk with its own terms and conditions, Pakistan need to first put her house in order. A strong government with people mandate can only take the country out of the mess.
Pakistan needs to "start a dialogue on pending issue" as urgently as a patient on chemotherapy needs to start a dialogue on hair transplant surgery for his bald head.
When did you start your fight against fascism ?
Shahzad chowdhry is right , pakistan should immediately start talks and start trade with India , all problems of pakistan will vanish within months . Pakistani players will get chance to play in IPL , cricket PCB will get millions of dollars as fees by bilateral matches . Pakistani public will get rid of tension of war between two nations , India can help Pakistan get loan from IMF , world bank , ADB as providing support at all levels .
Is Shahzad Chaudhry Right "On India"?
The Pakistan Air Force's Retired Air Vice Marshal Shahzad Chaudhry has recently penned an op-ed for The Express Tribune newspaper calling on...www.southasiainvestor.com
The Pakistan Air Force's Retired Air Vice Marshal Shahzad Chaudhry has recently penned an op-ed for The Express Tribune newspaper calling on his country to make peace with India. He argues that "India is relevant to the world", implying that Pakistan is not. Chaudhry believes that the "gap between Pakistan and India is now unbridgeable". Chaudhry concludes his piece with the following recommendation: "It is time to recalibrate our policy towards India and be bold enough to create a tri-nation consensus, along with China, focusing on Asia to be the spur for wider economic growth and benefit".
History of India-Pakistan Peace Talks:
While I completely support Chaudhry's call for Pakistan to make peace with India, I do wonder why India's Hindu Supremacist Prime Minister Narendra Modi would even seriously entertain such a thought if "India is relevant to the world" and Pakistan is not? And if Modi does agree to talks, what kind of peace would come out of such talks? Would it be similar to Bangladesh-India peace based on client-patron relationship? Retired senior India officials like Shyam Saran and AS Dulat have blamed Indian security establishment for past failures to reach a peace deal with Pakistan.
I also question Chaudhry's idea of creating "a tri-nation consensus" with India and China. Why would China agree to such an arrangement while both Asian giants are seeking to establish regional hegemony? Why wouldn't China pursue its own version of Monroe Doctrine in Asia?
Let me expand on the above two points about "relevance" of India and Pakistan and "tri-nation consensus" with China.
Pakistan's Global Relevance:
Chaudhry argues that "India is relevant to the world". So is Pakistan. Indian Prime Minister Narendra Modi's government has pursued a policy of internationally isolating Pakistan for the last 8 years. Indian diplomats and mainstream media have engaged in a concerted campaign to hurt Pakistan diplomatically and economically during this period. Even the sport of cricket has not been spared. All of the available evidence suggests that this Indian campaign has failed.
A prominent Indian journalist Shekhar Gupta has recently summarized the reasons for the Modi government's failure to achieve its objectives relative to Pakistan. Gupta argues that Pakistan is too important to be ignored or isolated by the international community. He says, "Pakistan is too big in terms of population, too powerful militarily, too Muslim, too nuclear and too well located to be isolated".
Pakistan PM Shahbaz Sharif with President and Mrs. Biden. Source: White House
Here are some of the key points Shekhar Gupta makes in episode 1093 of his show Cut The Clutter :
1.Pakistan is our most important neighbor. We must focus on Pakistan.
2, We can not ignore Pakistan in India because the world can not ignore Pakistan
3. The Western world has an intrinsic relationship with Pakistan which doesn't go away
4. The West does not see Pakistan as so useful to them today and yet Pakistan can not be isolated.
5. You can see all the indications that Pakistan is not isolated.
6. A lot of (Indian) TV channels say Pakistan is isolated but the evidence doesn't support it.
7. Pakistan FM visited Washington and met his counterpart Tony Blinken.
8. Pakistan Army Chief has received a warm welcome at the US Defense Dept and met US Defense Secretary Lloyd Austin. Bajwa matters more than the Pakistan Defense Minister. Nobody knows his name.
9. US Ambassador to Pakistan Donald Blome, a career diplomat, has visited "Pakistan Occupied Kashmir" and called it Azad Kashmir...Azad means free.
10. When the chips are down in the region Pakistan is the ally Americans reach out to.
11. The US does not want Pakistan to drift to China.
12. German foreign minister Annalena Baerbock has spoken about Kashmir...the K word. She has asked for the UN to help solve the Kashmir issue.
13. Pakistan Army Chief General Bajwa is not a warmonger. He wants to normalize ties with India. He wants to trade with India. He doesn't want Faiz Hameed to succeed him. He used to be the ISI chief and took credit for the Taliban victory in Afghanistan. Do the Americans have leverage here?
14. Where does Pakistan's unique power come from? Why can't Pakistan be ignored? Why can't Pakistan be isolated?
15. The Indian public needs to understand it.
16. Pakistan is too big in terms of population, too powerful militarily, too Muslim, too nuclear and too well located to be isolated.
17. Pakistan has the 5th largest population and its population is growing fast. It could soon exceed Indonesia to become the largest Muslim nation in the world.
18. Pakistan has the 5th strongest military in the world.
19. In terms of nuclear weapons, Pakistan has the 4th largest nuclear arsenal in the world.
20. Pakistan is too well located to be isolated. It has a geo-strategic location. Pakistan is the western gateway to China. Pakistan opened China's ties with the US. And then helped the US defeat the Soviet Union.
21. The factors that made Pakistan such a strong ally to the US still exist. Don't blame the Pakistanis for it.
22. India is not willing to commit to an alliance with the US.
23. Imran Khan tried to change Pakistan's foreign policy to be more like India's but he failed.
Tri-nation Consensus:
Prime Minister Modi's revocation of Article 370 and annexation of Jammu and Kashmir as Indian union territories have angered not just Pakistan but also China. Modi's actions are not only an affront to the people of Jammu and Kashmir but also in clear violation of India's international and bilateral obligations under United Nations charter and the Simla Accord. China, a permanent member of the United Nations Security Council, lays claim to the Ladakh region. It has objected to India making it a union territory.
Since Modi's annexation of disputed territories of Jammu, Kashmir and Ladakh, China has dramatically stepped up pressure on India in Ladakh. China has increased its troop presence, killed and injured dozens of Indian soldiers and taken at least a thousand kilometers of territory claimed by India. As a result, India has had to move troops from the line of control (LoC) with Pakistan to the Line of Actual Control (LAC) with China.
Indian Congress Party leader Rahul Gandhi summarized the situation well when he said, "China has taken our land. They are beating out soldiers. The threat of China Is clear. And the government is hiding it, ignoring it. China is preparing for an offensive in Ladakh and Arunachal. And the government of India is sleeping".
India-Bangladesh Ties:
India's relations with Bangladesh are essentially patron-client relations. This fact became amply clear when Bangladeshi Prime Minister Shaikh Hasina recently visited New Delhi to seek political and economic assistance from the Indian Prime Minister Narendra Modi.
Modi-Hasina Delhi summit was preceded by Bangladesh Foreign Minister Abdul Momen's trip to India where he said, "I've requested Modi government to do whatever is necessary to sustain Sheikh Hasina's government". Upon her return from India, Sheikh Hasina told the news media in Dhaka, "They (India) have shown much sincerity and I have not returned empty handed". It has long been an open secret that Indian intelligence agency RAW helped install Shaikh Hasina as Prime Minister of Bangladesh, and her Awami League party rely on New Delhi's support to stay in power. Bangladesh Foreign Minister Abdul Momen has described India-Bangladesh as one between husband and wife. In an interview with Indian newspaper 'Ajkal,' he said, "Relation between the both countries is very cordial. It's much like the relationship between husband and wife. Though some differences often arise, these are resolved quickly." Both Bangladeshi and Indian officials have reportedly said that Sheikh Hasina "has built a house of cards".
India-Pakistan Gap:
There's no question that Pakistan is in the midst of a major economic crisis. The country's economic performance is dismal right now. At the same time, it must be acknowledged that Pakistan, with its youngest population in Asia, has a bright future ahead if its leaders can resolve the internal political situation.
In fact, Goldman Sachs analysts Kevin Daly and Tadas Gedminas project Pakistan's economy to grow to become the world's sixth largest by 2075. In a research paper titled "The Path to 2075", the authors forecast Pakistan's GDP to rise to $12.7 trillion with per capita income of $27,100. India’s GDP in 2075 is projected at $52.5 trillion and per capita GDP at $31,300. Bangladesh is projected to be a $6.3 trillion economy with per capita income of $31,000. By 2075, China will be the top global economy, followed by India 2nd, US 3rd, Indonesia 4th, Nigeria 5th and Pakistan 6th. The forecast is based primarily on changes in the size of working age populations over the next 50 years.
Economic Impact of Slower Population Growth:
Daly and Gedminas argue that slowing population growth in the developed world is causing their economic growth to decelerate. At the same time, the economies of the developing countries are driven by their rising populations. Here are four key points made in the report:
1) Slower global potential growth, led by weaker population growth.
2) EM convergence remains intact, led by Asia’s powerhouses. Although real GDP growth has slowed in both developed and emerging economies, in relative terms EM growth continues to outstrip DM growth.
3) A decade of US exceptionalism that is unlikely to be repeated.
4) Less global inequality, more local inequality.
Demographic Dividend:
With rapidly aging populations and declining number of working age people in North America, Europe and East Asia, the demand for workers will increasingly be met by major labor exporting nations like Bangladesh, China, India, Mexico, Pakistan, Russia and Vietnam. Among these nations, Pakistan is the only major labor exporting country where the working age population is still rising faster than the birth rate.
Over 10 million Pakistanis are currently working/living overseas, according to the Bureau of Emigration. Before the COVID19 pandemic hit in 2020, more than 600,000 Pakistanis left the country to work overseas in 2019. Nearly 700,000 Pakistanis have already migrated in this calendar year as of October, 2022. The average yearly outflow of Pakistani workers to OECD countries (mainly UK and US) and the Middle East was over half a million in the last decade.
World's 7th Largest Consumer Market:
Pakistan's share of the working age population (15-64 years) is growing as the country's birth rate declines, a phenomenon called demographic dividend. With its rising population of this working age group, Pakistan is projected by the World Economic Forum to become the world's 7th largest consumer market by 2030. Nearly 60 million Pakistanis will join the consumer class (consumers spending more than $11 per day) to raise the country's consumer market rank from 15 to 7 by 2030. WEF forecasts the world's top 10 consumer markets of 2030 to be as follows: China, India, the United States, Indonesia, Russia, Brazil, Pakistan, Japan, Egypt and Mexico. Global investors chasing bigger returns will almost certainly shift more of their attention and money to the biggest movers among the top 10 consumer markets, including Pakistan. Already, the year 2021 has been a banner year for investments in Pakistani technology startups.
India's Kautilya Doctrine:
“Every neighboring state is an enemy and the neighboring state's neighbor is a friend.”
― Kautilya, The Arthashastra
The name of Kautilya, meaning crooked, is invoked by former Indian foreign secretary Shyam Saran's book “How India Sees the World: Kautilya to the 21st Century”. This invocation of Kautilya in the title of the book makes the above quote about "neighboring state is an enemy" particularly relevant to how Indian policymakers like Shyam Saran see Pakistan and Afghanistan.
Kautilya presented a theory of international relations called the “circle of states,” or Rajamandala. It says hostile states are those that border the ruler’s state, forming a circle around it. In turn, states that surround this set of hostile states form another circle around the circle of hostile states. This second circle of states can be considered the natural allies of the ruler’s state against the hostile states that lie between them. Put more succinctly, “the enemy of my enemy is my friend.”
Pakistanis like AVM Shahzad Chaudhry must understand that India's foreign policy has always been and continues to be guided by the Kautilya Doctrine.
Related Links:
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Ex Indian Diplomat Sabharwal on Pakistan's "Resilience", "Strategic" CPEC
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Why Has Modi Failed to Isolate Pakistan?
Pakistan Projected to Become World's 6th Largest Economy by 2075
Pakistan Projected to Be 7th Largest Consumer Market By 2030
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Is Shahzad Chaudhry Right "On India"?
The Pakistan Air Force's Retired Air Vice Marshal Shahzad Chaudhry has recently penned an op-ed for The Express Tribune newspaper calling on...
Gujarat Coverup: Top Officials Who Testified Against Modi Jailed By BJP Government
BBC's Modi Documentary shows that there were three people with direct knowledge of Modi's orders for the police to not protect Muslims: Gujarat Home Minister Haren Pandya, IPS (Indian Police Service) officers Sanjiv Bhatt and RB Shreekumar
https://archive.org/details/narendra-modi-bbc-documentary
Excerpts of Frontline story on the BBC Modi Documentary:
https://frontline.thehindu.com/the-...dra-modi-back-in-the-dock/article66409146.ece
"Even though R.B. Sreekumar, head of police intelligence in Gujarat, and Sanjiv Bhatt, another police officer, had maintained that Modi indeed imposed the diktat, witnesses for the Chief Minister countered that neither Sreekumar nor Bhatt was present at the concerned meeting. In 2022, both were accused of fabrication. Bhatt is in any case serving a life sentence on another matter.
"The documentary has also recorded that Haren Pandya, a minister in the Gujarat government, testified to a Jesuit priest that Modi did issue the aforementioned orders. But his attendance at the meeting was also contradicted. The programme has BJP MP Subramanian Swamy giving his opinion on Pandya’s death to the BBC, calling it “tragic and suspicious”.
-------------
"My son's death was a planned, political murder...it must be reinvestigated."
—Vithal Pandya, father of the late Haren Pandya, former Gujarat revenue minister, to Outlook on November 7, 2007
https://www.outlookindia.com/magazine/story/a-murder-foretold/236059
------------------
The Special Investigation Team (SIT) probing the case of forgery and fabrication of evidence in connection with the 2002 riots has arrested dismissed IPS officer Sanjiv Bhatt, making the third arrest after social activist Teesta Setalvad and former IPS officer R.B. Sreekumar.
https://www.thehindu.com/news/natio...ujarat-riots-forgery-case/article65632863.ece
--------
Newsmaker | RB Sreekumar, a decorated cop on the wrong side of Modi govt
Sreekumar, who became Gujarat DGP after retirement, wrote affidavits to the Nanavati Commission alleging govt agencies’ complicity in the 2002 riots. On Friday, the Supreme Court called into question his role in the accusations.
https://indianexpress.com/article/p...rated-cop-and-thorn-in-pm-modis-side-7991606/
BBC's Modi Documentary shows that there were three people with direct knowledge of Modi's orders for the police to not protect Muslims: Gujarat Home Minister Haren Pandya, IPS (Indian Police Service) officers Sanjiv Bhatt and RB Shreekumar
https://archive.org/details/narendra-modi-bbc-documentary
Excerpts of Frontline story on the BBC Modi Documentary:
https://frontline.thehindu.com/the-...dra-modi-back-in-the-dock/article66409146.ece
"Even though R.B. Sreekumar, head of police intelligence in Gujarat, and Sanjiv Bhatt, another police officer, had maintained that Modi indeed imposed the diktat, witnesses for the Chief Minister countered that neither Sreekumar nor Bhatt was present at the concerned meeting. In 2022, both were accused of fabrication. Bhatt is in any case serving a life sentence on another matter.
"The documentary has also recorded that Haren Pandya, a minister in the Gujarat government, testified to a Jesuit priest that Modi did issue the aforementioned orders. But his attendance at the meeting was also contradicted. The programme has BJP MP Subramanian Swamy giving his opinion on Pandya’s death to the BBC, calling it “tragic and suspicious”.
-------------
"My son's death was a planned, political murder...it must be reinvestigated."
—Vithal Pandya, father of the late Haren Pandya, former Gujarat revenue minister, to Outlook on November 7, 2007
https://www.outlookindia.com/magazine/story/a-murder-foretold/236059
------------------
The Special Investigation Team (SIT) probing the case of forgery and fabrication of evidence in connection with the 2002 riots has arrested dismissed IPS officer Sanjiv Bhatt, making the third arrest after social activist Teesta Setalvad and former IPS officer R.B. Sreekumar.
https://www.thehindu.com/news/natio...ujarat-riots-forgery-case/article65632863.ece
--------
Newsmaker | RB Sreekumar, a decorated cop on the wrong side of Modi govt
Sreekumar, who became Gujarat DGP after retirement, wrote affidavits to the Nanavati Commission alleging govt agencies’ complicity in the 2002 riots. On Friday, the Supreme Court called into question his role in the accusations.
https://indianexpress.com/article/p...rated-cop-and-thorn-in-pm-modis-side-7991606/
Ex British Foreign Secretary Jack Straw's Interview with Karan Thapar on The Wire
Topic: BBC's Modi Documentary
“I have long been very familiar with the history of India and independence in 1947 and communal violence that ensued. I was there when there were demonstrations against Ayodhya mosque”
“There are thousands of Gujaratis in my constituency (in England), mainly Muslims”
After Godhra incident or accident (in Gujarat in 2002) there was a need for effective policing that did not happen”
“There’s a colonial history of the East India Company and the British government playing one community against the other (Hindu vs Muslim) during the Raj”
“The United Kingdom was a colonial master of India until 1947. So we felt a moral responsibility and a long term bond. …the constituency of Lancashire I represented is 40% non white… I had a concern for our Gujarati Muslim constituents”
Topic: BBC's Modi Documentary
“I have long been very familiar with the history of India and independence in 1947 and communal violence that ensued. I was there when there were demonstrations against Ayodhya mosque”
“There are thousands of Gujaratis in my constituency (in England), mainly Muslims”
After Godhra incident or accident (in Gujarat in 2002) there was a need for effective policing that did not happen”
“There’s a colonial history of the East India Company and the British government playing one community against the other (Hindu vs Muslim) during the Raj”
“The United Kingdom was a colonial master of India until 1947. So we felt a moral responsibility and a long term bond. …the constituency of Lancashire I represented is 40% non white… I had a concern for our Gujarati Muslim constituents”
making excuses
Imran Khan
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So Pakistan is fighting fascism with help of Napoleon's quotes ?
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Imran Khan
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Why we fight ? Its indian problem not ours
Analysis: India's surging services exports may shield economy from external risks
www.reuters.com
IT services still accounted for 45% of India's total services exports in April-December.
Professional and management consulting grew the fastest - at a 29% compounded annual growth rate over the last three years, as per estimates by economists at HSBC Securities and Capital Markets.
The recent growth in services exports has been largely powered by global capability centres, which have started to offer global clients a range of high-end and critical solutions such as accounting and legal support.
----------------
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
---------------
A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports.
Service exports are no longer being driven by IT services alone but also by more lucrative offerings such as consulting and research and development, analysts and economists told Reuters.
India's services exports rose 24.5% on year in October-December 2022, hitting a record $83.4 billion during the quarter, data released by the Reserve Bank of India (RBI) on Friday showed.
The services surplus, which deducts any imports in the category, also rose 39.21% to a record $38.7 billion.
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
"We expect services exports to grow to over $375 billion by March 2024, as compared to $320-350 billion for the year ending March 2023," said Sunil Talati, chairman of the Services Export Promotion Council.
Services exports will likely surpass goods exports by March 2025, he said.
October-December merchandise exports stood at $105.6 billion, according to latest RBI data.
------------
As a result, such exports will hold up better compared to goods exports in the face of a weakening global economy, analysts said.
Over the last two to three years, there has been a rapid growth in global capability centres, said Sangeeta Gupta, chief strategy officer at software industry lobby group Nasscom.
Nasscom estimates that India is home to over 45% of such global capability centres in the world.
According to Pranjul Bhandari, chief India economist at HSBC Securities and Capital Markets, such centres started off providing support functions, but they have now moved up the ladder to tech enablement, business operations, capability development, and even R&D and business development.
While U.S. companies were the first movers in India, a lot of companies from Europe, Australia and Asia are also exploring stepping up their operations, Nasscom's Gupta said.
An acceleration in digitalisation after the Covid crisis and a lack of adequate tech talent in some of these countries are key factors, she added.
Sectors such as tourism, education, financial services and health also contributed to India's higher service exports.
Analysis: India's surging services exports may shield economy from external risks
A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports.
IT services still accounted for 45% of India's total services exports in April-December.
Professional and management consulting grew the fastest - at a 29% compounded annual growth rate over the last three years, as per estimates by economists at HSBC Securities and Capital Markets.
The recent growth in services exports has been largely powered by global capability centres, which have started to offer global clients a range of high-end and critical solutions such as accounting and legal support.
----------------
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
---------------
A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports.
Service exports are no longer being driven by IT services alone but also by more lucrative offerings such as consulting and research and development, analysts and economists told Reuters.
India's services exports rose 24.5% on year in October-December 2022, hitting a record $83.4 billion during the quarter, data released by the Reserve Bank of India (RBI) on Friday showed.
The services surplus, which deducts any imports in the category, also rose 39.21% to a record $38.7 billion.
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
"We expect services exports to grow to over $375 billion by March 2024, as compared to $320-350 billion for the year ending March 2023," said Sunil Talati, chairman of the Services Export Promotion Council.
Services exports will likely surpass goods exports by March 2025, he said.
October-December merchandise exports stood at $105.6 billion, according to latest RBI data.
------------
As a result, such exports will hold up better compared to goods exports in the face of a weakening global economy, analysts said.
Over the last two to three years, there has been a rapid growth in global capability centres, said Sangeeta Gupta, chief strategy officer at software industry lobby group Nasscom.
Nasscom estimates that India is home to over 45% of such global capability centres in the world.
According to Pranjul Bhandari, chief India economist at HSBC Securities and Capital Markets, such centres started off providing support functions, but they have now moved up the ladder to tech enablement, business operations, capability development, and even R&D and business development.
While U.S. companies were the first movers in India, a lot of companies from Europe, Australia and Asia are also exploring stepping up their operations, Nasscom's Gupta said.
An acceleration in digitalisation after the Covid crisis and a lack of adequate tech talent in some of these countries are key factors, she added.
Sectors such as tourism, education, financial services and health also contributed to India's higher service exports.
Analysis: India's surging services exports may shield economy from external risks
Analysis: India's surging services exports may shield economy from external risks
A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports.
IT services still accounted for 45% of India's total services exports in April-December.
Professional and management consulting grew the fastest - at a 29% compounded annual growth rate over the last three years, as per estimates by economists at HSBC Securities and Capital Markets.
The recent growth in services exports has been largely powered by global capability centres, which have started to offer global clients a range of high-end and critical solutions such as accounting and legal support.
----------------
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
---------------
A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports.
Service exports are no longer being driven by IT services alone but also by more lucrative offerings such as consulting and research and development, analysts and economists told Reuters.
India's services exports rose 24.5% on year in October-December 2022, hitting a record $83.4 billion during the quarter, data released by the Reserve Bank of India (RBI) on Friday showed.
The services surplus, which deducts any imports in the category, also rose 39.21% to a record $38.7 billion.
This, together with a drop in merchandise trade deficit, resulted in the current account deficit shrinking more than expected to $18.2 billion, or 2.2% of GDP.
"We expect services exports to grow to over $375 billion by March 2024, as compared to $320-350 billion for the year ending March 2023," said Sunil Talati, chairman of the Services Export Promotion Council.
Services exports will likely surpass goods exports by March 2025, he said.
October-December merchandise exports stood at $105.6 billion, according to latest RBI data.
------------
As a result, such exports will hold up better compared to goods exports in the face of a weakening global economy, analysts said.
Over the last two to three years, there has been a rapid growth in global capability centres, said Sangeeta Gupta, chief strategy officer at software industry lobby group Nasscom.
Nasscom estimates that India is home to over 45% of such global capability centres in the world.
According to Pranjul Bhandari, chief India economist at HSBC Securities and Capital Markets, such centres started off providing support functions, but they have now moved up the ladder to tech enablement, business operations, capability development, and even R&D and business development.
While U.S. companies were the first movers in India, a lot of companies from Europe, Australia and Asia are also exploring stepping up their operations, Nasscom's Gupta said.
An acceleration in digitalisation after the Covid crisis and a lack of adequate tech talent in some of these countries are key factors, she added.
Sectors such as tourism, education, financial services and health also contributed to India's higher service exports.
Western multinationals employ directly or indirectly 5-7 million professionals in India. It is $200-250 billion per year. No amount of freelancing is going to compensate here
SoulSpokesman
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@RiazHaq
Brofessor sb,
Thanks for the article. The implications are very clear. Investments in our people-in terms of nutrition, healthcare, education, training and skilling is crirtical for any nation, whether it is in terms of manufacturing or services. East Asian countries have already derived great benefits in the past. It is time South Asia- India, Bangladesh and Pakiland- did the same.
Regards
Brofessor sb,
Thanks for the article. The implications are very clear. Investments in our people-in terms of nutrition, healthcare, education, training and skilling is crirtical for any nation, whether it is in terms of manufacturing or services. East Asian countries have already derived great benefits in the past. It is time South Asia- India, Bangladesh and Pakiland- did the same.
Regards
Adani’s business empire may or may not turn out to be the largest con in corporate history. But far greater dangers to civic morality, let alone democracy and global peace, are posed by those peddling the gigantic hoax of Modi’s India. Pankaj Mishra
www.lrb.co.uk
Modi has counted on sympathetic journalists and financial speculators in the West to cast a seductive veil over his version of political economy, environmental activism and history. ‘I’d bet on Modi to transform India, all of it, including the newly integrated Kashmir region,’ Roger Cohen of the New York Times wrote in 2019 after Modi annulled the special constitutional status of India’s only Muslim-majority state and imposed a months-long curfew. The CEO of McKinsey recently said that we may be living in ‘India’s century’. Praising Modi for ‘implementing policies that have modernised India and supported its growth’, the economist and investor Nouriel Roubini described the country as a ‘vibrant democracy’. But it is becoming harder to evade the bleak reality that, despoiled by a venal, inept and tyrannical regime, ‘India is broken’ – the title of a disturbing new book by the economic historian Ashoka Mody.
The number of Indians who sleep hungry rose from 190 million in 2018 to 350 million in 2022, and malnutrition and malnourishment killed nearly two-thirds of the children who died under the age of five last year. At the same time, Modi’s cronies have flourished. The Economist estimates that the share of billionaire wealth in India derived from cronyism has risen from 29 per cent to 43 per cent in six years. According to a recent Oxfam report, India’s richest 1 per cent owned more than 40.5 per cent of its total wealth in 2021 – a statistic that the notorious oligarchies of Russia and Latin America never came close to matching. The new Indian plutocracy owes its swift ascent to Modi, and he has audaciously clarified the quid pro quo. Under the ‘electoral bond’ scheme he introduced in 2017, any business or special interest group can give unlimited sums of money to his party while keeping the transaction hidden from public scrutiny.
Modi also ensures his hegemony by forging a public sphere in which sycophancy is rewarded and dissent harshly punished. Adani last year took over NDTV, a television news channel that had displayed a rare immunity to hate speech, fake news and conspiracy theories. Human Rights Watch has detailed a broad onslaught on democratic rights: ‘the Hindu nationalist Bharatiya Janata Party (BJP)-led government used abusive and discriminatory policies to repress Muslims and other minorities’ and ‘arrested activists, journalists and other critics of the government on politically motivated criminal charges, including of terrorism’. Last month, as the BJP’s official spokesperson denounced the BBC as ‘the most corrupt organisation in the world’, tax officials launched a sixty-hour raid on the broadcaster’s Indian offices in apparent retaliation for a two-part documentary on Modi’s role in anti-Muslim violence.
Also last month, the opposition leader Rahul Gandhi was expelled from parliament to put a stop to his persistent questions about Modi’s relationship with Adani. Such actions are at last provoking closer international scrutiny of what Modi calls the ‘mother of democracy’, though they haven’t come as a shock to those who have long known about Modi’s lifelong allegiance to Rashtriya Swayamsevak Sangh, an organisation that was explicitly inspired by European fascist movements and culpable in the assassination of Mohandas Gandhi in 1948.
Pankaj Mishra · The Big Con: Modi’s India · LRB 6 April 2023
The Indian businessman Gautam Adani has been revealed not only as a beneficiary of the new political and economic order...
www.lrb.co.uk
Modi has counted on sympathetic journalists and financial speculators in the West to cast a seductive veil over his version of political economy, environmental activism and history. ‘I’d bet on Modi to transform India, all of it, including the newly integrated Kashmir region,’ Roger Cohen of the New York Times wrote in 2019 after Modi annulled the special constitutional status of India’s only Muslim-majority state and imposed a months-long curfew. The CEO of McKinsey recently said that we may be living in ‘India’s century’. Praising Modi for ‘implementing policies that have modernised India and supported its growth’, the economist and investor Nouriel Roubini described the country as a ‘vibrant democracy’. But it is becoming harder to evade the bleak reality that, despoiled by a venal, inept and tyrannical regime, ‘India is broken’ – the title of a disturbing new book by the economic historian Ashoka Mody.
The number of Indians who sleep hungry rose from 190 million in 2018 to 350 million in 2022, and malnutrition and malnourishment killed nearly two-thirds of the children who died under the age of five last year. At the same time, Modi’s cronies have flourished. The Economist estimates that the share of billionaire wealth in India derived from cronyism has risen from 29 per cent to 43 per cent in six years. According to a recent Oxfam report, India’s richest 1 per cent owned more than 40.5 per cent of its total wealth in 2021 – a statistic that the notorious oligarchies of Russia and Latin America never came close to matching. The new Indian plutocracy owes its swift ascent to Modi, and he has audaciously clarified the quid pro quo. Under the ‘electoral bond’ scheme he introduced in 2017, any business or special interest group can give unlimited sums of money to his party while keeping the transaction hidden from public scrutiny.
Modi also ensures his hegemony by forging a public sphere in which sycophancy is rewarded and dissent harshly punished. Adani last year took over NDTV, a television news channel that had displayed a rare immunity to hate speech, fake news and conspiracy theories. Human Rights Watch has detailed a broad onslaught on democratic rights: ‘the Hindu nationalist Bharatiya Janata Party (BJP)-led government used abusive and discriminatory policies to repress Muslims and other minorities’ and ‘arrested activists, journalists and other critics of the government on politically motivated criminal charges, including of terrorism’. Last month, as the BJP’s official spokesperson denounced the BBC as ‘the most corrupt organisation in the world’, tax officials launched a sixty-hour raid on the broadcaster’s Indian offices in apparent retaliation for a two-part documentary on Modi’s role in anti-Muslim violence.
Also last month, the opposition leader Rahul Gandhi was expelled from parliament to put a stop to his persistent questions about Modi’s relationship with Adani. Such actions are at last provoking closer international scrutiny of what Modi calls the ‘mother of democracy’, though they haven’t come as a shock to those who have long known about Modi’s lifelong allegiance to Rashtriya Swayamsevak Sangh, an organisation that was explicitly inspired by European fascist movements and culpable in the assassination of Mohandas Gandhi in 1948.
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