India Economy Thread

[hydrabadi_arab]

another bomb dropped on India

"Breaking: US government suspends Indian firms Tata, Infosys, Wipro, HCL, Capgemini and Cognizant from sponsoring most foreign workers for green cards"

 

[D00D00]

India’s economy is already around $10 trillion if measured at the 2011 exchange rate, when the US dollar was around ₹44.

Indian government has allowed the rupee to depreciate over time, which is one reason India’s nominal GDP appears smaller in dollar terms, even as exports are expected to cross the $1 trillion mark this year.

nominal GDP figure can be misleading if you want to assess the overall financial and economic strength of a country. It is better to also look at foreign-exchange reserves, total exports and imports, domestic consumption, industrial production, air passenger traffic and vehicle sales.

Don’t read too much into nominal GDP alone. A depreciating currency can make a country’s economy look smaller in dollar terms even when its real economic activity is much larger. Just look at India’s air passenger traffic and passenger-car sales, the current $4.6 trillion nominal GDP figure can look like a significant understatement of the scale of the economy.

$10 trillion isn't $30 trillion.

 

[hydrabadi_arab]

Tone deaf as expected. "Cheap H1B Indian coolie workers increase wealth of American shareholders." Then you wonder why such society still have caste system to this day.

 

[Vikramaditya1]

Tone deaf as expected. "Cheap H1B Indian coolie workers increase wealth of American shareholders." Then you wonder why such society still have caste system to this day.

View attachment 218684

Indian government is hardly bothered by US electoral politics and the antics that follows. Tata et al don't even have more than 10 PERM. The whole thing is just hogwash by American politicians to rally the retarded groypers for midterm as things are not looking so great.

 

[hydrabadi_arab]

The meltdown in India over H1b is funny. Considering H1b visa isn't India specific, it only proves rampant abuse and visa fraud by Indians.

 

[onlinpunit]

our neighbors raising their happiness index over less indians getting American Visa !

 

[samsite84]

our neighbors raising their happiness index over less indians getting American Visa !

I don't think Indians will get "less" visas, only the companies will shift and that too upwards to the right (better paying jobs). What folks don't understand is that there is a real need for outside workers in US and US has enough pull for bright, type A people. Indians in general are more hungry than many others and hence wiling to migrate.

 

[r3alist]

type A people. Indians in general are more hungry than many others and hence wiling to migrate.

Ummm well when bodyshops created a reliable funnel it was not an open market, the process and type of worker needed was hardly "type a", given the work we are told they did and not exposed to wider competition

Let's see how employment trends go.

 

[vasanthm]

The capitalism and market economy the US championed may deliver an inconvenient outcome, companies moving the jobs to where they can hire the people they need.

 

[r3alist]

The capitalism and market economy the US championed may deliver an inconvenient outcome, companies moving the jobs to where they can hire the people they need.

This is geopolitics and resulting populism andddd the core trend of declining worker intrinsic value

The youth are disillusioned, the boomers are lingering, pensions keep the collateral layer artificially higher, less upward mobility and shift in future outlook prospects doesn't leave room for the generous allocation of foreign workers.

 

[Vikramaditya1]

This is geopolitics and resulting populism andddd the core trend of declining worker intrinsic value

The youth are disillusioned, the boomers are lingering, pensions keep the collateral layer artificially higher, less upward mobility and shift in future outlook prospects doesn't leave room for the generous allocation of foreign workers.

All this sounds like a stagnating economy trying to fight it's own shadows. Creating situations for itself through tariffs, wars and now face an uncertain midterms. Self-flagellation is nice to watch.

 

[r3alist]

All this sounds like a stagnating economy trying to fight it's own shadows. Creating situations for itself through tariffs, wars and now face an uncertain midterms. Self-flagellation is nice to watch.

I don't disagree, it's clearly stated as an attempt to reinvigorate Americans but not really when knowledge is undermined by ai, and graduates and students invariably use ai in education, the Chinese education is more vigorous and seems to suit better the science domains

it looks like a net dumbing down, but you want good jobs good worker's to fit in the changing world, and I am dubious whether many opportunities exist because gccs in India will still do that work and boomer's are selfish seeing out comfortable retirements

 

[r3alist]

Just something to consider for everyone, scary

 

[Vikramaditya1]

I don't disagree, it's clearly stated as an attempt to reinvigorate Americans but not really when knowledge is undermined by ai, and graduates and students invariably use ai in education, the Chinese education is more vigorous and seems to suit better the science domains

it looks like a net dumbing down, but you want good jobs good worker's to fit in the changing world, and I am dubious whether many opportunities exist because gccs in India will still do that work and boomer's are selfish seeing out comfortable retirements

Why? You think the Chinese don't use AI? Some of their models are just as capable if not more.

The world will be dumbed down by a lot for sure. But it's our job to teach our kids the "old ways".