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Be a wh0re
Here are my two cents. In the past 5 years Ive seen a significant growth in new startups, valuations and even salaries. We have seen some amazing transformation in Fintech space. Lifestyle and standard of living is rising and hence consumption is also going high. All these are good things but …. Most of the big companies (Paytm, Ola, Zomato, Zoho) are basically copy pasting american tech for indian scenario. Since there was a funding frenzy a lot of these companies were able to pump their valuations and grow tremendously. But the cost of capital being high now, I cannot see inflated valuations and easy money any more. So these companies now have to have generate profit to actually keep growing. Im very skeptical about this because tho their services are great I cannot see indian consumers spending a lot. WITCH companies are basically providing cheap labor for low priority works in big tech and other sectors. With the AI boom I can pretty much see these jobs going away. The only way I see India growing is pioneering original innovation which means doing R&D and serving the globe instead of just India. We don’t have something like a Deepmind, Open AI etc. Not just AI but we need innovation in every sector. I really want India to produce 2/3 UPI like innovations in every sector. What do you think ? What is lacking for us to produce a Google, Apple, Pfizer etc where everyone is using our product. #tech #india
Short answer no . Of course it will grow . Rate of growth will be disappointed at best . It’s too much dependence on service sector . Manufacturing is just 13% of gdp as compared to 28% of China . It hasn’t budged . Too much reliance on agriculture. No country that has so much reliance on agriculture has made huge strides in gdp increase .
True. What do you think about digital innovation? Many people are saying (In India) that its india’s decade especially for tech.
IIRC that's how china's tech grew in the 2000s, copy pasting american companies. And then when they became large enough, they started innovating.
not until India becomes a manufacturing hub - everything else is facade
What about digital innovation or tech ? US is a super power without being the manufacturing behemoth that China is.
US was superpower even before facebook etc came along - if you call that a digital innovation. I beleive we need a paradigm shift wherein folks start thinking about opening up their own business / startups etc vs running behind a job. This will require substantial support from govt too - to make it easy to start new business etc. Foreign companies coming into India is great, though it will be essential for India to become self reliant too - especially with manufacturing industries. Things like increasing innovation ( no of patents reflects this ) / govt sponsored r&d, private companies led r&d etc. Well, just my perspective. Thank you for reading.
Well...Indian uncles won't be able to answer as they aren't used to India being strong hehe
Fk off data doesn’t lie
India has potential but it has to stop sending top talent over to the states. #stopthebraindrain
But this is a chicken egg problem. Talent is moving to other countries various reasons like salary, standard of living, opportunities etc. If they stay they would contribute to the economy which might indirectly impact all the causes above mentioned positively.
India is severely limited by physical capacity and is facing quite serious consequences from the climate change juggernaut. Otherwise, I would say it has practically unlimited potential to becoming the world superpower by the end of the 21st century, if not significantly before.
I admit with climate change problems. However what do you mean by physical capacity ? India is worlds most populated country.
Another point that drags down india is labor force participation of women is abysmally low . It’s only at 20% while US is 77% and it’s not improving much . Vishwa guru at its best
India can only grow if BIMARU(Hindi belts) see better civics sense, economic growth, health and education. Large subsidies goes to Hindi belts. Centers need to have specific plan to uplift these states such as special tax rebates, economic zone etc. At this moments Hindi belt’s nothing more than vote bank to form governments in center.
You need to take into account the dependence of India on the west for exports and investment. With a recession around the corner it could turn out worse. But India has come a long way and is much better positioned than other countries.