UK slips behind India to become the world's sixth biggest economy

[beijingwalker]

I don't care about GDP number. GDP is easy to be manipulated. The real big economic power must have some commodities that are competitive in international market. Producing less competitive goods that are only sold in domestic market won't strengthen a countries economic power(e.g Soviet Union). Compared to GDP number, I care more about a countries' export.

No matter how big India's GDP is, India doesn't have any product competitive in international market. We barely see anything made in India.

A decade ago almost all Indians claimed that India was far ahead of China in IT industry, but look at their position now today comparing to China's, this is how fast they developed.

India sees sharp decline in IT sector's ability to fund trade deficit

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

www.business-standard.com

 

[kankan326]

A decade ago almost all Indians claimed that India was far ahead of China in IT industry, but look at their position now today comparing to China's, this is how fast they developed.

India sees sharp decline in IT sector's ability to fund trade deficit

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

www.business-standard.com

India's IT industry wasn't competitive from very beginning. Indian IT workers' job is not different than tightening screws in assembly lines. India's pharmaceutical industry follows same model.

 

[beijingwalker]

I don't care about GDP number. GDP is easy to be manipulated. The real big economic power must have some commodities that are competitive in international market. Producing less competitive goods that are only sold in domestic market won't strengthen a countries economic power(e.g Soviet Union). Compared to GDP number, I care more about a country's export.

No matter how big India's GDP is, India doesn't have any product competitive in international market. We barely see anything made in India.

True, actually in the late Qing dynasty around 1850, GDP wise China was still the world No.1 with a very comfortable lead, but it's mainly domestically generated, when the western powers kicked open the door and forced themselves in, the whole country just collapsed.

 

[Lava820]

.No matter how big India's GDP is, India doesn't have any product competitive in international market. We barely see anything made in India.

Go and see how Indian products are dominating the GCC market

Ashok Leyland to supply 1,400 school buses worth Rs 600 crore to the UAE | Autocar Professional

The 55-seater Falcon and 32-seater Oyster buses, which will be supplied from Ashok Leyland’s manufacturing facility in Ras Al Khaimah, is valued at Rs 600 crore.

www.autocarpro.in

https://www.arabianbusiness.com/industries/retail/indian-conglomerate-tata-group-arm-titan-looking-to-set-up-international-hub-in-dubai

A decade ago almost all Indians claimed that India was far ahead of China in IT industry, but look at their position now today comparing to China's, this is how fast they developed.

India sees sharp decline in IT sector's ability to fund trade deficit

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

www.business-standard.com

https://twitter.com/x/status/1565941340130910208

Avertissement de redirection

 

[beijingwalker]

Go and see how Indian products are dominating the GCC market

Ashok Leyland to supply 1,400 school buses worth Rs 600 crore to the UAE | Autocar Professional

The 55-seater Falcon and 32-seater Oyster buses, which will be supplied from Ashok Leyland’s manufacturing facility in Ras Al Khaimah, is valued at Rs 600 crore.

www.autocarpro.in

https://www.arabianbusiness.com/industries/retail/indian-conglomerate-tata-group-arm-titan-looking-to-set-up-international-hub-in-dubai

This is from 10 years ago, do you have the latest?

 

[Lava820]

This is from 10 years ago, do you have the latest?

View attachment 875807

India's exports to the GCC have increased by 58.26 per cent to about USD 44 billion in 2021-22 against USD 27.8 billion in 2020-21

Bilateral Trade between India and GCC grew from US$ 87.35 billion in FY 2020-21 to US$ 154.66 billion in FY 2021-22

Bilateral Trade between India and the Gulf Cooperation Council grew from US$ 87.35 billion in FY 202

pib.gov.in

https://www.google.com/amp/s/www.financialexpress.com/economy/india-uae-seal-fta-to-raise-bilateral-trade-to-100-bn/2438395/lite/

 

[Indos]

Go and see how Indian products are dominating the GCC market

Ashok Leyland to supply 1,400 school buses worth Rs 600 crore to the UAE | Autocar Professional

The 55-seater Falcon and 32-seater Oyster buses, which will be supplied from Ashok Leyland’s manufacturing facility in Ras Al Khaimah, is valued at Rs 600 crore.

www.autocarpro.in

https://www.arabianbusiness.com/industries/retail/indian-conglomerate-tata-group-arm-titan-looking-to-set-up-international-hub-in-dubai

https://twitter.com/x/status/1565941340130910208

Avertissement de redirection

India service export is really an inspiration for other Asian countries. Do you have the breakdown data about what services being exported by Indian companies ?

 

[beijingwalker]

India's exports to the GCC have increased by 58.26 per cent to about USD 44 billion in 2021-22 against USD 27.8 billion in 2020-21

Bilateral Trade between India and GCC grew from US$ 87.35 billion in FY 2020-21 to US$ 154.66 billion in FY 2021-22

Bilateral Trade between India and the Gulf Cooperation Council grew from US$ 87.35 billion in FY 202

pib.gov.in

https://www.google.com/amp/s/www.financialexpress.com/economy/india-uae-seal-fta-to-raise-bilateral-trade-to-100-bn/2438395/lite/

I m talking about the share, high increase can come from a very low base.

 

[Black Tornado]

A decade ago almost all Indians claimed that India was far ahead of China in IT industry, but look at their position now today comparing to China's, this is how fast they developed.

India sees sharp decline in IT sector's ability to fund trade deficit

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

www.business-standard.com

Do you even know what the article means? It means that India’s trade deficit is rising and services exports aren’t enough to make up for it.

China’s Growth Prospects Weaken as Economists Cut 2023 Forecasts

Economists are turning more bearish about China’s economy, downgrading their growth forecasts further for 2022 and seeing lingering risks into next year as turmoil in the property market and Covid outbreaks persist.

www.bloomberg.com

 

[prashantazazel]

you have a free health service and a generous welfare state

Already have it. Free food, free healthcare.
A small chunk also get free accommodation.

Free stuff isn't that great in a poor country, but it's there.

 

[Maarkhoor]

https://twitter.com/x/status/1565708559417057281

https://twitter.com/x/status/1565516106135023616

Strange......I never see Brits shitting on streets yet

 

[Piotr]

China's development gives people an illusion that every developing country with big population will become big economic power. Not true. China is an exception, not a universal case for most countries. Most developing countries, including Indian, have a development ceiling. The so-called "middle income trap" can also be explained as these countries hit their development ceilings. Most countries can never reach to developed stage.

India will hit its development ceiling in recent several years. Which means, there will be no real growth for India. All economic growths in paper are just to balance international inflations.

I'm not saying that it is easy to develope like China. I'm only saying that more and more countries will have economies bigger that England. One of the reason is that IMO England will have smaller and smaller economy. Colonialist countries like England, Germany or France get their wealth by stealing from others (slave trade, drug trade-Opium Wars, Bismarck, Hitler). As colonialist countries get weaker they have less ability to steal thus geting even weaker.

IMO middle income trap is to large extend related to colonialist countries trying to sabotage developement of good countries. As colonialist countries (eg. England, Germany, France) get weaker they will have less ability to sabotage development of other countries.

There is a very good book: "Kicking away the ladder" by Ha-Joon Chang explaining how the West is sabotaging developement of other countries.

 

[lightoftruth]

Will be around 3.6 trillion this fiscal,

by 2024 4.5 trillion is on expected lines ,will surpass Germany to be the 4rth largest.

...

 

[beijingwalker]

even the butthurt chinks and indonesian mullah knows the reality.

Foul month aside, let's Put it in the context, China grew one India in GDP last year. we are not in the same league, no one gets butthurt.

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元​

2022-01-18 12:19:37

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元,印度,中国,imf,增量

www.163.com

Growing one India a year! In 2021, China's GDP is about 17.7 trillion US dollars, with a net increase of 3 trillion US dollars

 

[Black Tornado]

Foul month aside, let's Put it in the context, China grew one India in GDP last year.

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元​

2022-01-18 12:19:37

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元

一年新增一个印度！2021年中国GDP约17.7万亿美元，净增3万亿美元,印度,中国,imf,增量

www.163.com

Growing one India a year! In 2021, China's GDP is about 17.7 trillion US dollars, with a net increase of 3 trillion US dollars

No you didn’t, you added $1.4 tn. Using 2020 figures of WB and 2021 figures of CCP to tell you’ve added $3.2 tn in 1 year won’t work here.

Since when ~10 trillion yuan became $3 trillion ?