India's richest 1% holds 40% of wealth; inequality rising since 2000s:

[coffee_rules]

3 hours ago, diga said:

Apologies for digressing, but Deccan herald has been churning out leftist articles far too many for my liking. We have subscribed to Deccan from 40 years and first time I am thinking of reviewing it.  Today it had an article in support of TM Krishna

Has beena? Nandi brand is notorious for Congress and leftist support. We switched long time back in the 90s. They are the Karnataka equivalent of TheHindu. Leftist rag!

[coffee_rules]

2 hours ago, Lone Wolf said:

Yeah I was mentioning GDP (PPP) as a merit...  It is as exclusively associated with the HDI index too. 

GDPpC is just a mathematical equation of total GDP /pop. India will fare bad as the pop is large. HDI is very abstract as it indicates how Socialism is successful. EU countries will do good there. Not a wealth indicator. 

Edited March 21 by coffee_rules

[Lone Wolf]

19 minutes ago, coffee_rules said:

GDPpC is just a mathematical equation of total GDP /pop. India will fare bad as the pop is large. HDI is very abstract as it indicates how Socialism is successful. EU countries will do good there. Not a wealth indicator. 

That's wrong even within India...  HDI of terror stricken and a areas devoid of any industrial base basically J&K has a very impressive HDI compared to most Indian states and exactly at the level of Philippines. 

Stark contrast to PoK which is at subsaharan African level...  Which is as accurate as it comes

Now our best of best HDI of Kerala Goa Chandigarh is as high as Azerbaijan.. 

 

Now HDI of Pakistan's richest Province Punjab is worse than any Indian state and almost at Bihar level (the worst Indian) 

 

It's pretty accurate indicator about living standards of the region. 

Edited March 21 by Lone Wolf

[Muloghonto]

I don't care if 99.9999% of all wealth is held by the top 1%, so long as the wealth held by the masses is healthy enough for them to have disposable income after taking care of nutrition & housing. 

A few people hoarding most of the wealth is a problem if and only if the masses are struggling. Otherwise, its fine- why do i care if top 1% of the nation are worth on average a trillion dollars, if i am making 60K and living a comfortable middle class life ?

 

Wealth accumulation is a fundamental human trait, present in all societies through all time, so by default, it is a good thing morally. 

 

[mishra]

3 hours ago, Lone Wolf said:

On Tesla I'd like to add there is a conspiracy theory going around after GoI strong arming Musk....  He has altered the Twitter/X algorithm which has led to increased Indian hate content you are now seeing daily on Twitter/X.  Racism & hate content has skyrocketed on twitter against Indians 

Sound like Pakistani logic because Elon Musk is not that Chewt or weak to be forced to spend $44 billion on twitter because he needs to make Modi happy when minuscule $1.6 billion is total money generated by all the political parties of India  combined for last 10 years.

[BacktoCricaddict]

1 hour ago, Muloghonto said:

I don't care if 99.9999% of all wealth is held by the top 1%, so long as the wealth held by the masses is healthy enough for them to have disposable income after taking care of nutrition & housing. 

Word.

 

Disparity is a flawed metric as long as everyone is making a comfortable, living wage. As long as we can keep raising the floor, it doesn't matter how high the ceiling is.

[Muloghonto]

3 hours ago, mishra said:

Sound like Pakistani logic because Elon Musk is not that Chewt or weak to be forced to spend $44 billion on twitter because he needs to make Modi happy when minuscule $1.6 billion is total money generated by all the political parties of India  combined for last 10 years.

If Modi can strong-arm Musk over twitter, its obvious that it means playing good cop/bad cop with Tesla. Elon may not care for twitter revenue stream from India, he cares a metric crap ton about gaining access to the Indian market for Tesla.

 

[Lone Wolf]

6 hours ago, mishra said:

Sound like Pakistani logic because Elon Musk is not that Chewt or weak to be forced to spend $44 billion on twitter because he needs to make Modi happy when minuscule $1.6 billion is total money generated by all the political parties of India  combined for last 10 years.

Twitter is not primary interest of Elon though...  It does offers him some leverage vis a vis 5th Gen warfare.  

In election year this sudden rise of Indian hate has rightly made people suspicious of him. 

Edited March 22 by Lone Wolf

[someone]

23 hours ago, Lone Wolf said:

India needs strong 10 years of temporary Autocratic rule to catch up with Vietnam Indonesia or compete with them...  Or risk supply chains completely moving there and missing the bus altogether.  We are entering in a Pivotal phase in our history. 

 

But out scammy politicians will provide us rosy pictures and fake numbers to show how well off we are but media never points out how far flung we actually are. 

 

 

India has missed the first mover advantage in the early 2000s-2010, so the mistakes impact is still profound today.

 

Its playing catch-up, and it cannot choose and select. There has to developments in all places, be it space exploration, electricity, houses, digialization, bullet trains. Thats the right approach as India needs both soft + hard power. The latter is more important.

[Nikhil_cric]

21 hours ago, Lone Wolf said:

Foxconn just recently announced that it will invest 100ml $ on a new plant in Vietnam. 

Vietnam is our actual true competition in Asia right now. 

Mexico Indonesia are turning out to be more favorable markets as well. 

 

Even in electronics investors argue that our tariffs are much higher than China Vietnam Mexico and Czech...  So Make in India is not turning out to be feasible...  Foxconn and Pegatron have publicly raised concerns over this. 

 

Point Indian investment market isn't that competitive enough.  We need to eliminate or Lower our tariffs to be a export based economy...  Domestic consumption is never enough. It wasn't for China and won't be for us. 

 

 

 

The problem imo is that we actually look to compete with the likes of Vietnam and this competition between Third World countries simply allows Uncle Sam to consume cheap.

 

It's high time countries in the Third World establish something similar to a European Union and gain a lot of collective bargaining power with a common set of business standards and practices instead of competing to provide the cheapest slave labour to the West. 

[BlueBlood]

15 hours ago, Nikhil_cric said:

The problem imo is that we actually look to compete with the likes of Vietnam and this competition between Third World countries simply allows Uncle Sam to consume cheap.

 

It's high time countries in the Third World establish something similar to a European Union and gain a lot of collective bargaining power with a common set of business standards and practices instead of competing to provide the cheapest slave labour to the West. 

 

The only way this will happen is if India develops and helps home grown Nvidia, Apple, Samsung, TSMC type companies that export products and IP across the world.

 

The idiot bhakts on here don't understand this simple concept that all Ambani and Adani have done is looted the country dry by sucking up all the infrastructure and internal service sector industries.

 

When Tata introduced the Nano for example, that project died but was an amazing idea that should have been encouraged by Indian government and more importantly other startups encouraged to dream big.

 

This is what frustrates me the most about modern India and NRIs here. Not a single person has common sense on why they are outside of India and not in India in the first place. It's high paying jobs that help upward mobility for hardworking innovators.

 

India has such pathetic RBI payment regulations that they don't even allow automatic subscriptions for SaaS products.

 

Recently India banned AI companies development and reversed course after backlash. Idiotic policies that continues for last 20 years.

 

Yet I have to hear from idiots all day why last 10 years is different and why we are a 1st world country now.

 

It's irritating and I have given up. Until and unless India becomes a high value add export oriented country, it will remain a third world country and worse, it will become a hypocritical nation where prosperity is shouted from rooftops but the real elections are won on freebies given to the poor. We saw that happen in last election in Telangana where Congress won against TRS/BJP by offering unlimited freebies to the poor.

[Muloghonto]

4 minutes ago, BlueBlood said:

 

The only way this will happen is if India develops and helps home grown Nvidia, Apple, Samsung, TSMC type companies that export products and IP across the world.

 

The idiot bhakts on here don't understand this simple concept that all Ambani and Adani have done is looted the country dry by sucking up all the infrastructure and internal service sector industries.

If you keep this up, one day you will get sued for libel and slander by the bigwigs and we will all laugh.

 

4 minutes ago, BlueBlood said:

 

When Tata introduced the Nano for example, that project died but was an amazing idea that should have been encouraged by Indian government and more importantly other startups encouraged to dream big.

 

This is what frustrates me the most about modern India and NRIs here. Not a single person has common sense on why they are outside of India and not in India in the first place. It's high paying jobs that help upward mobility for hardworking innovators.

 

India has such pathetic RBI payment regulations that they don't even allow automatic subscriptions for SaaS products.

 

Recently India banned AI companies development and reversed course after backlash. Idiotic policies that continues for last 20 years.

 

Yet I have to hear from idiots all day why last 10 years is different and why we are a 1st world country now.

 

It's irritating and I have given up. Until and unless India becomes a high value add export oriented country, it will remain a third world country and worse, it will become a hypocritical nation where prosperity is shouted from rooftops but the real elections are won on freebies given to the poor. We saw that happen in last election in Telangana where Congress won against TRS/BJP by offering unlimited freebies to the poor.

Show us a single post here where anyone except you has said India is a 1st world country.

 

[BlueBlood]

1 hour ago, Muloghonto said:

If you keep this up, one day you will get sued for libel and slander by the bigwigs and we will all laugh.

 

Show us a single post here where anyone except you has said India is a 1st world country.

 

All i see is posts calling India #3 after US and China when ground reality is completely different.

 

Show me where I said anything wrong?

 

All this talk about prosperity but not a single value add export oriented industry is created neither in semiconductors, AI or anywhere else.

 

That means the next generation skilled talent will not work for Indian companies but move abroad to work for companies that build such IP like Nvidia, Apple etc.

 

As I said I gave up on fools long ago who don't understand why Taiwan is an economic super power because of semiconductor industry.

 

Or why Samsung made South Korea a 1st world country.

 

Or how Vietnam and Mexico are on pace to be the next China/Taiwan.

 

All because of building intellectual property and technology that they can export world wide to bring wealth back to their country and have good paying jobs.

 

[coffee_rules]

2 hours ago, BlueBlood said:

All i see is posts calling India #3 after US and China when ground reality is completely different.

 

Show me where I said anything wrong?

 

All this talk about prosperity but not a single value add export oriented industry is created neither in semiconductors, AI or anywhere else.

 

That means the next generation skilled talent will not work for Indian companies but move abroad to work for companies that build such IP like Nvidia, Apple etc.

 

As I said I gave up on fools long ago who don't understand why Taiwan is an economic super power because of semiconductor industry.

 

Or why Samsung made South Korea a 1st world country.

 

Or how Vietnam and Mexico are on pace to be the next China/Taiwan.

 

All because of building intellectual property and technology that they can export world wide to bring wealth back to their country and have good paying jobs.

 

Are you thick skulled? Check PPP rankings. Check world bank published World wealth inequality rankings.in terms of wealth inequality India rates better than US but not as good as EU socialist countries. You only know how to taking on personal ad honi ems and not quoting facts where India is faring and growing better. Even with all the good news, there are still a lot of bad and areas of improvement. You and your ilk thrive on gloom and doom and are glass half toolkit activists not being happy with anything happening in India since 2014. 

[Muloghonto]

8 hours ago, BlueBlood said:

All i see is posts calling India #3 after US and China when ground reality is completely different.

where is that said ? quote that please. 

8 hours ago, BlueBlood said:

 

Show me where I said anything wrong?

 

All this talk about prosperity but not a single value add export oriented industry is created neither in semiconductors, AI or anywhere else.

wrong. Indian exports have gone up exponentially in the last 10 years- this can be cited.

 

8 hours ago, BlueBlood said:

 

That means the next generation skilled talent will not work for Indian companies but move abroad to work for companies that build such IP like Nvidia, Apple etc.

 

As I said I gave up on fools long ago who don't understand why Taiwan is an economic super power because of semiconductor industry.

 

Or why Samsung made South Korea a 1st world country.

 

Or how Vietnam and Mexico are on pace to be the next China/Taiwan.

 

All because of building intellectual property and technology that they can export world wide to bring wealth back to their country and have good paying jobs.

 

the era of western knowledge restricted 'intellectual property' is ending. that is reality. 

[BlueBlood]

9 hours ago, coffee_rules said:

Are you thick skulled? Check PPP rankings. Check world bank published World wealth inequality rankings.in terms of wealth inequality India rates better than US but not as good as EU socialist countries. You only know how to taking on personal ad honi ems and not quoting facts where India is faring and growing better. Even with all the good news, there are still a lot of bad and areas of improvement. You and your ilk thrive on gloom and doom and are glass half toolkit activists not being happy with anything happening in India since 2014. 

 

This is exactly what I am saying.

 

Wealth inequality means nothing when the average American family can afford two cars, their own house, a vacation every year and enough disposable income to pay for a lot of what an average Indian would call a "luxury" such as beauty products, gadgets like the latest iphone etc.

 

That's precisely the reason why home-grown companies like Nvidia or a Google or even someone new like OpenAI can do well even when they are barred from Chinese market for example. They can sell to their own customers and fund enough of their operations profitably that they can then export world wide and bring money back to the US.

 

Innovation is rewarded which makes all the smartest people (many from India) go to the US for better opportunities.

 

When OpenAI type of company starts in India that can export their IP across the world, then you will see immense number of high paying jobs.

 

For that to happen, you need an ecosystem that can foster that where the top corporations are forced by SBI, LIC and similar institutions by Indian government to allocate their funds to the future growth areas and startups. Instead all that money has been going in funding airports, ports, telecom, BPO outsourcing like what Wipro/Infosys does and similar low growth and zero value add industries. This will come back to bite the nation eventually.

 

No one is saying the Congress government under MMS was any better on this front. Just that it's the same thing going on since then with just better PR, that's all. One of the greatest things that was done by the Vajpayee and later congress government was give extraordinary tax incentives in late 1990's early 2000's to IT sector which is why Infosys, Wipro, and so many other outsourcing companies had immense growth. These were later removed and never brought back once the industry was established (which is good for tax revenues).

 

We need something like this in the AI/semiconductor/biotechnology/manufacturing etc. sectors so that companies can export worldwide. Nothing of this sort has been done.

 

Look at China - they have DJI which is the world's leader in drones. They have BYD which is the largest manufacturer of electric cars, even with being banned in the US, they still lead the world. They also have Huawei, Xiaomi and so many other world's best cell phone manufacturing companies that go head to head with iPhone and Samsung phones.

 

It's because the government understood 15 years ago that they need to get into value add industries rather than cheap manufacturing. They invested big on startups which help in this. Even now India is hoping for FDI from the US/Europe/Middle East in our tech ecosystem instead of forcing the state run banks/insurance companies to allocate funds to startups in high value add industries. Some will fail but some will succeed to the point where you can create the next Google, Nvidia, TSMC, Samsung etc. in-house.

 

Think about it: why would a US investor put billions into an Indian startup when they know they can just hire the best talent and bring them to the US? That's exactly what's happening. All the FDI is focused on Indian version of Uber, AirBNB etc.

 

Compare the richest people in India vs. richest people in China last 20 years. It tells the entire story of generational wealth vs. "new money" wealth. 

 

Again, I have zero issue debating on facts and have no agenda to support a political party as I just want the country to succeed. It's when rose tinted glasses are used by brainwashed people that fail to see that if nothing is being done now, you will come back 20 years from now and see the same thing repeat again.

 

I keep writing these big posts and often feel it's a waste of time because if NRI's who are outside of India and see first hand every day what I just mentioned are so brainwashed that they don't think logically anymore, how can we convince Indian politicians or people to vote for these policies that will ultimately benefit the country?

[Muloghonto]

1 hour ago, BlueBlood said:

 

This is exactly what I am saying.

 

Wealth inequality means nothing when the average American family can afford two cars, their own house, a vacation every year and enough disposable income to pay for a lot of what an average Indian would call a "luxury" such as beauty products, gadgets like the latest iphone etc.

 

That's precisely the reason why home-grown companies like Nvidia or a Google or even someone new like OpenAI can do well even when they are barred from Chinese market for example. They can sell to their own customers and fund enough of their operations profitably that they can then export world wide and bring money back to the US.

Then you should be happy that India is the most improved nation in innovation in the last cycle of patent filings.

 

1 hour ago, BlueBlood said:

 

 

I keep writing these big posts and often feel it's a waste of time because if NRI's who are outside of India and see first hand every day what I just mentioned are so brainwashed that they don't think logically anymore, how can we convince Indian politicians or people to vote for these policies that will ultimately benefit the country?

 

You are accusing us of not thinking logically, when you are dismissive of any facts that run counter to your illogical make-believe rants ?

Its a fact that Indian innovation is the most improved in the last year of any nation - can be cited

it is also a fact that Indian model cannot ape the American system, since America is entirely funded by exporting its debt to the whole world and its the only economy where inflation from overprinting of currency is not an issue. 

It is also a fact that no country can get up the development ladder without serious infrastructure investment, which the current govt has done more in the last 10 years than all the governments in the past 60.

You won't get instant results and i find your instant gratification mindset like that of a typical inferior westerner.

 

[Lone Wolf]

Vietnam...  Crazy transformation.  Tiger of Asia

 

[gattaca]

2 hours ago, Lone Wolf said:

Vietnam...  Crazy transformation.  Tiger of Asia

 

Lost all the forest/trees.

[gattaca]

21 hours ago, BlueBlood said:

 

This is exactly what I am saying.

 

Wealth inequality means nothing when the average American family can afford two cars, their own house, a vacation every year and enough disposable income to pay for a lot of what an average Indian would call a "luxury" such as beauty products, gadgets like the latest iphone etc.

 

That's precisely the reason why home-grown companies like Nvidia or a Google or even someone new like OpenAI can do well even when they are barred from Chinese market for example. They can sell to their own customers and fund enough of their operations profitably that they can then export world wide and bring money back to the US.

 

Innovation is rewarded which makes all the smartest people (many from India) go to the US for better opportunities.

 

When OpenAI type of company starts in India that can export their IP across the world, then you will see immense number of high paying jobs.

 

For that to happen, you need an ecosystem that can foster that where the top corporations are forced by SBI, LIC and similar institutions by Indian government to allocate their funds to the future growth areas and startups. Instead all that money has been going in funding airports, ports, telecom, BPO outsourcing like what Wipro/Infosys does and similar low growth and zero value add industries. This will come back to bite the nation eventually.

 

No one is saying the Congress government under MMS was any better on this front. Just that it's the same thing going on since then with just better PR, that's all. One of the greatest things that was done by the Vajpayee and later congress government was give extraordinary tax incentives in late 1990's early 2000's to IT sector which is why Infosys, Wipro, and so many other outsourcing companies had immense growth. These were later removed and never brought back once the industry was established (which is good for tax revenues).

 

We need something like this in the AI/semiconductor/biotechnology/manufacturing etc. sectors so that companies can export worldwide. Nothing of this sort has been done.

 

Look at China - they have DJI which is the world's leader in drones. They have BYD which is the largest manufacturer of electric cars, even with being banned in the US, they still lead the world. They also have Huawei, Xiaomi and so many other world's best cell phone manufacturing companies that go head to head with iPhone and Samsung phones.

 

It's because the government understood 15 years ago that they need to get into value add industries rather than cheap manufacturing. They invested big on startups which help in this. Even now India is hoping for FDI from the US/Europe/Middle East in our tech ecosystem instead of forcing the state run banks/insurance companies to allocate funds to startups in high value add industries. Some will fail but some will succeed to the point where you can create the next Google, Nvidia, TSMC, Samsung etc. in-house.

 

Think about it: why would a US investor put billions into an Indian startup when they know they can just hire the best talent and bring them to the US? That's exactly what's happening. All the FDI is focused on Indian version of Uber, AirBNB etc.

 

Compare the richest people in India vs. richest people in China last 20 years. It tells the entire story of generational wealth vs. "new money" wealth. 

 

Again, I have zero issue debating on facts and have no agenda to support a political party as I just want the country to succeed. It's when rose tinted glasses are used by brainwashed people that fail to see that if nothing is being done now, you will come back 20 years from now and see the same thing repeat again.

 

I keep writing these big posts and often feel it's a waste of time because if NRI's who are outside of India and see first hand every day what I just mentioned are so brainwashed that they don't think logically anymore, how can we convince Indian politicians or people to vote for these policies that will ultimately benefit the country?

Force top corporations lol ? What are we ? Communists ? Companies choose their own and that’s how new companies are born. No one should force existing companies on their choice of investments. New money comes that way without forcing. If you don’t know about make in India go read about it. Government has formed few start up companies and given roadmap of 5 years to be profitable. The goal of these companies is to train and advise companies on new technologies. Manufacturing needs roads, ports and airports. If you don’t have these there will be delays in good delivery. U.S. investors will never establish innovation in other countries they only want Asia for cheap labor. The investors are ok throwing money within U.S.