How Strong Is India's Economy?
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- เผยแพร่เมื่อ 24 เม.ย. 2024
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For decades now economists have been predicting that India would become an economic superpower, and in part, it has. India's workforce is younger than China's and wages are lower meaning they have been well placed to take low ticket manufacturing jobs from China. But could we expect to see India's economy grow and possibly even surpass China in the next decade?
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Could you do a video on Jamaica’s economy?🙏🏽🙏🏽
@@romarreid I support this idea, please make one on Jamaica's economy
Show the correct map of India. Gilgit-Baltistan is part of India as per UN resolution of 1947/48
Make one on Jordan's economy too.
In this video, you have, on multiple occasions, in many (long-ish) frames, shown an incorrect map of India; showing the so-called 'disputed' PoK *not* to belong to India, but actually belonging to Pakistan!
Kindly rectify this ASAP, or your video will be reported -- both to TH-cam as well as to the GoI, which, I'm sure will either force you to change the map to a (more) correct one, or will simply have this video removed from YT, at least in India.
Thank you!
weekly dose of hearing "no one can predict the future, least of all economists" 😂
starting to get annoying
I'd call it content farming but this channel is too nice for that haha
Everyone needs an iconic line.
it's not even true, who else would be better? a plumber?
@@digitalpain8269 No. Nobody can predict the future.
*India* 🇮🇳 disappoints both optimists & pessimists . It has a very Indian style of growth . All metrics in India vastly improved in past 30 years yet if compared with Asian Tigers and China , growth is slow .
Indeed True
India is about 40-50 years behind China.
@@silveriver9 I would accept a 20 year gap nothing more . India defenitely look way better than how China looked in 1980s or 1990s . 😂 . Come on
Look the difference is china had high growth in a very small period of time of say 40 years while India will have medium growth over a long period of 70 years such that by 2050 both would be equal.
@@s9ka972 You are very delusional. India today is like China in the 1960s.
Used the cheat code India, for the last minute view bump
And you guys fell for it
@@user-ue4fh5mv9s 😅
Indian viewers are not worth a lot, look at cpm by countries
Sorry but views from india gives 10 times less as revenue than an American viewers.
@@SafavidAfsharid3197 Yeah but it helps with algorithm. Funny you're probabaly South Asian
Chinese version of liberalisation was done 13 years before india in 1978 plus china is a communist regime while india is a democracy so decision making is always slower, and i believe that when china industrialised it had no competitors, west was looking to outsource and china was the only option while if india wants to industrialize we either have to create domestic companies or take business from China, both i think are more difficult to do than what china did.
Simple but correct summary.
China really messed up with the one child policy. India is below replacement level but nowhere near as bad as china.
Also not to forget that the so-called “democratic allies” of US and EU decided to economically support China and militarily support Pakistan for decades to the detriment of India.
Look at the other side, India probably has the highest english proficiency amongst all Asian countries.
Chinese policies were also just better. You can only grow with removal of landholding in agriculture and real estate. By educating and skilling up polpulation at military pace. And having very very hogh labour participation.
I'm an AI vendor in the UK and a lawyer, too. More and more companies have outsourced their legal, finance and other functions to India. When we were young we thought it was call centres only. This has changed lots during COVID. More and more items of advanced technical capability are being sent to India or the Philippines. The end client (the corporate or the end client) couldn't be happier as they face pressure to drive down costs and this does that.
Won't be long until India's indigenous vendors overtake.
businesses especially those related to finance stopped outsourcing call centers to india for obvious reasons.
In the tech industry where majority of the services are from India vendors it's actually better, because it's B2B ends up being indians working with indians for a US business to a US business.
@@jolly-rancherAll Big US and European banks have their corporate offices/ tech centers here in India. And they have plans only to expand in coming years as it is increasingly difficult to find such talent outside India for similar or justifiable price.
true but the main issue like in video mentioning is jobs for the rest of indians. I was told these industry only has like 4.3 million indians but in the entire indian population is a small percentage. But congrats to the indians that got in.
calling sewing "unskilled" but watching people shop "semi skilled"
Westoids have really weird status sensibilities that boil down to "anything involving manual labour is trash"
In this context skilled is just refering to education level
@@tronortron Just shows how worthless "education" really is. You can have a Masters in history, so technically you are educated but still most of the time, a Person who can sew or stitch clothes well will have more job opportunities than you.
You're not wrong, but someone with a masters can pick up sewing in maybe half a year or less? But someone who only knows sewing can only sew, a person with a degree has the opportunity to "downgrade" or move elsewhere for better opportunities....but your point about a lot of useless degrees for money grab etc stands lol and I agreee@@relentlessfrags4914
Yeah I think this definition of skilled, unskilled is not very helpful a category.
"outsourcing bad, AI good,
For some reason"
👌
yes. because outsourcing is not always great , some people give the argument that it's just colonialism but without violence.
white people think that they will win in AI, that's why AI good narrative. They might be in for a rude awakening
@@Sailed_awayno, outsourcing is just subjecting white people to fair competition for the first time in history and watching the gaslighters acream
@@Sailed_away Not employing them is even worse.
@@N0Xa880iUL is that what you call empowerment? Building self sustaining industries and developing software for our own nation is way better of an empowerement than doing outsourced jobs
kinda funny how this video is sponsored by an indian startup 😂😂😂
Nice spot
They know Indians flood to any video that even remotely mentions India.
@@ponuni It's a good thing. More Indian sponsors should do this.
And undercutting Sora on price.
that too an ai startup🤣
I feel bigger work force won't help the country if there is no work to do in the first place
Indeed
Exactly
Very true
Yeah, the demographic divident is a lot smaller nowadays then previously
bigger work force will attract world manufacturing companies to move to that area
POV: you're trying to find comments about the wrong map mentioned by others but can't find any
I was doing the same thing lol, couldn't find any.
it's the world famous 76 iq on full display
@@jolly-rancherbecause IQ totally stands in relation to that
what you mean I literally just keep scrolling down to load a bunch of comments and then Ctrl F "Map", and there's alot of whining indian's complaining. Theres even one with 24 likes
which means Indians are becoming more secure.
Re: Women. Women drop out of the workforce once household income reaches a certain threshold. There's a ILO paper that talks about the region. It is a cultural preference but it will improve dramatically over time.
I'm starting to sense some lazy writing, 12:43 "Putting the labor force over the total population gives economists the labor force participation rate."
This is just blatantly wrong, labor force participation rate comes from labor force over the working age population, NOT the total population. If the channel is about explaining economics, you should take care to correctly explain these metrics.
Listen, there is an entire cottage industry dedicated to correcting the numerous mistakes this channel makes in these videos, only "starting" to sense how lazy and frequently incorrect this particular content mill is like tripping over the same thing over and over again and then suddenly going "hey wait someone could trip over this" on the 9th or 10th time
lol
@@rio425ee "starting to sense" was being polite :)
Thanks for pointing that out.
EE is not an economist. He only reads some Wikipedia articles and then makes a video on it. His understanding of Economics is reading GDP charts.
@bennettliu236 maybe if you'd have paid attention to his pre, you'd not be a complete idiot.
My first ever employee was a lady in Bangladesh, she was all I could afford at the time, but she ended up being incredible and is still with me to this day.
Bangladesh is not India
@@jolly-rancher oh what i thought it was
We are not indian sir
@@aariyanmahmud301 it's like confusing americans and canadians. Just because they are neighbors, doesn't mean they are the same
@@PrabhablyAGoodTH-camr It's more like US & Mexico. A very transactional and occasionally salty relationship!
I live in a small town and we are family of four , biggest reason my mom didnt choose to work was my father's salary was enough for us . Dad buyed agriculture land , built house , hepled other family members with salary . Now my brother has got job but due to high cost of living and assest creation for his future son he expects a earning wife . So yes things are changing in our society . Most sought-after job for women india is teacher where she go to same school as her kids and it provides extra cash in house along with a sight on kid .
Bro really dropped this a day after mains results where majority of our youth is depressed and want to leave the country lol
😂😂😂😂
Videsh jakar bhi kamana pdega koi freee ration nhi dene wala😂. Videsh is not a paradise like u guysss think.Jao jakar mehnat kro.
Or haaa stop this obsession with jee neet upsc bla bla bla. This govt. Job obsession is destroying our country economy.
@@neharathore4160 You are absolutely right.
JEE Mains?
😂 because of khangress dhruv ke tatte
I told you that these guys in the comment section doesn't feel bad for India's Economic Growth, but they are crying hard for showing the Wrong Map of India. 😅😅😅
why we need to feel bad? we are among the fastest growing economies moreover it seems you havent watched the whole video.
Seems like you don't even follow world bank or IMF reports of Economic Growth!! India has been the fastest growing economy for many years now! Lol😂😂😂
We comment about the wrong map because we know how many lives we had to sacrifice to for it...and any citizen of any country would do the same if their map was shown wrong...
@@charvisrinivas2875 This is not the place to cry bozo. He's speaking about Economics.
@@prabhu3267
- poor education
- poor living standards
- poor cultural and moral values
- poor hygiene
- poor infrastructure
- poor wages
- poor job prospects
- corruption
- wealth inequality
Having a large economy while having poorly maintained roads and high poverty rates and low living standards i think we should feel sorry for you
double the workforce does not mean doubling productivity... UK is a prime example of this.
productivity follows investment in infra and workers' tools and skills
Double productivity in case of India cuz women would participate more. And UK does have that but its the government policies that are causing lower productivity.
Its not apples to apples comparison.
Depends on type of workforce you are doubling? Working poor? Middle class? White Collar? Professional? Larger workforce reduces wages if demand is the same.
Exactly! That just assumes that there are enough opportunities to absorb this doubly large workforce - which is simply not the case, as shown by the unemployment numbers of India
you need to have industries, if were honest most companies are not UK but US and this means the UK is just a small fry
It’s almost as if high female participation in the workforce increases your labor force in the current generation, but decreases your labor force in the next. 🤔
Indeed. I see that as a massive oversight by just about every speaker on economics in the west. Sacrificing future generations to make the current generation wealthy is not the right way to run a healthy society.
@@00x0xx in a healthy society the woman would be able to chose her life. the main reason lower income countries have more kids is because girls were never given autonomy to make their own decisions, create new life paths for themselves through education. this creates many families that breed like rabbits and their off springs could become liability for the country since they dont always translate into productivity
@00x0xx It's not an oversight, most economists knows this but saying it almost guarantees to be branded as an anti-fe*inist mi**gyn*st, so no one does. (sorry for the asterisks but youtube is bad about this kind of stuff)
I have never thought about it in this perspective, but you may have a point.
In fact this has been my beef about all the academic / important economic models (mostly coming from Keynesian economics). I am not an economist or finance person but intuitively feel that there are lots of economic activity done by unskilled and unproductive labor whose impact cannot be measured. Let's say which is better: kid being taught at after school by both working parents (more economic output) VS kid being taught by parents at home after school (less output) or more long term benefits of say nuclear families VS a joint families. Lots of similar things. Modi has talked about India coming out with it's own democracy index. I think India should establish some independent thinking economic institutions which come up with better metrics (probably keeping population/global sustenance in it's mind).
For India to grow economically, India must first grow socially. As an Indian, I numerous problems in our society which is holding us back. First and foremost is the rotten state of Politics, stemming from religious and social divide. This leads to uncountable ills like corruption, lack of visionary leaders etc. Then there is extremely slow and inefficient law enforcement and Justice system. The root of everything is us, the people. Most of us lack Constitutional morality and ethics. If we are to become a superpower, we first need to become good people.
In order to instill discipline you need concentrated power in the hands of a competent leader like Lee Kuan Yew, but given the huge diversity the power will be decentralize and the governence will be scattered among corrupt opportunists while the population vote for freebies.
Leaders alone can't change the fate of the people if people are idiots.
@@phabove7Like the soviet union and china, you need more of a socialist political system to clear out the corruption and nonsense, then you become liberal as your wealthy
Imbecile!
Lack of ethics? How did you come up with that? You don’t need good people for superpower status. You actually believe China and USA are good people . Laughable logic. Seriously the biggest challenge to our superpower status is complete lack of strategic thinking and this nonsensically naive and unnecessary discussion on humanities where the concern is purely military*economy.
We see all of that in the massive indian population infecting Canada, therefore rapidly making it the most hated demographic.
To make a point about women participation in workforce, one big aspect is of course the cultural norms in a patriarchal society, where men and women have defined roles.
Another factor is, for a long time, in most of India, the cost of living in India was cheap enough that a family of four could live comfortably on one person's salary. My mom was working after education. She decided to stop doing it after child birth. My dad used to work at an average paying job. But, he was able to build a house and pay for our education.
But times have changed now. The cost of living has increased so much that it is almost impossible to lead a comfortable life in one of the big cities without both partners working. I bet female participation in the workforce will increase as the country continues to grow.
you could see the signs, the graph pretty much shot up after 2020
...or a matriarchal society.
Dual income households are good for GDP, but not for families. There is a collective action problem, where increasing the labor pool puts downward pressure on salaries. The share of GDP going to labor shrinks over time.
This video goes on about India's labor force, but misses the mark massively cos the most pernicious problem India has been dealing with for a long time now isn't a shortage of labor, but a shortage of JOBS. What's the point having more workers when there aren't enough JOBS available for us already?
BUT we also need to understand that just because there are High female labor force participation in a country, it doesn't mean that those country would have low fertility rate.
Peru, Kazakhstan, Madagascar, Ghana, and many countries in Southern tip of Africa in particular, have very high female labor force participation, and yet their fertility rate are still very high.
It seems like how rich a country is determining how low fertility rate are in these countries way more than High female labor force participation rate.
invideo AI created videos should be allowed to be turned off or filtered out on all platforms and be labeled as non-human efforts with a warning from TH-cam as it already does for so many ‘contentious’ topics.
Fartificial Stupidity !!
I am very disappointed that so many people in comments section both Indians and Non-Indians are just arguing for nothing. India is doing right in many places and there are still many mistakes that needs to be corrected in many places but these people are not interested about discussing about these points based on facts. Most of the people in comment section are just sharing personal opinions and not facts and trying to mock each other. I am really disappointed that despite the high quality of content this channel provides us for free, some people can never change because they just do not want to change. For them they are above all(I am saying this for both Indians and Non-indians as you can find both down in the comment section.)
That's how the internet has become these days, meaningful discussions don't happen here anymore, it's just bullshit namecalling which includes both sides. It's the same "cow dung", "toilet", "caste system" etc. No one cares if they are actually getting solved. Most of them don't know but the toilet one has been pretty much solved, there's a growing electronic manufacturing industry, a decent and well established car manufacturing industry, pharma and many more, the economy albeit slower than China has been growing good.
Sensationalization of anything garners views these days. No one cares about facts these days.Probably someone would comment the same thing under your comment too
India is not doing right in most places. The oppression of women and LGBTQ community is rampant. More than 80 percent of youth are unemployed ... nobody can ever dream of becoming an independent homeowner in a poor country like India.
Also, 90 percent of all Indians are essentially dirt poor because they earn less than Rs 25k per month, believe it or not. That's how bad Indian poverty is.
I always feel like Indians have a hysterical desire to be respected or taken very seriously, and come barnstorming into comment sections talking about the Indian übermensch and “India superpower” and in response get the same pushback Americans get.
You should read your comment to yourself. You haven't mentioned any facts either. Just some of your personal gibber jabber.
Agreed
A female Indian architect at work was telling us how many parents in India sees a college education for their daughters solely as a means to make them more appealing for a prospective husband. They are not expected to actually go into the workforce.
Also higher education seen as socially prestigious cuz it confers honor to the family.
But that is not true for all. I am an Indian girl. My parents wants me and my sister to have higher education so we can be financially independent. This depends on which part of the country since India is socially and culturally very diverse.
@@swathypr3517 India is a very hard country to characterize in a simple way, do the fact that there's no singular Indian culture, despite all its peoples having some common characteristics.
Big country cant generalize
leave the women alone
That thumbnail is just so, so wrong. I say this as someone who has spent a lot of time living and working in India. The problem is this channel has such a narrow idea of what makes a country 'developed' or 'powerful', which is largely down to money and forgets about everything else. North India is undoubtedly wealthier - you've got the manufacturing hubs in places like Gujarat and immense agriculture in places like Punjab. However, South India, the area you've stuck a big red blob on labelled 'poverty' is far more progressive in other ways. South Indians are typically much better educated (there's a reason Bangalore has become India's major IT hub), which filters into a lot of positivity in other areas. Among other things, it's much better to be a woman in Kerala than it is in Uttar Pradesh. South India is more rural and less modernised in many respects, but to dismiss all that as 'poverty' is extremely narrow minded.
Saying south India is more rural is just wrong though. North India is more rural. Just look at the share of urban population in the south.
I'm a Mechanical engineer and my workplace has been outsourcing my colleagues jobs to India in very large numbers. My biggest observation is their higher level education isn't worth the paper it's printed on and it made the locals here have to work harder to pick up the slake.
One larger challenge this creates is typically it's the bottom of the barrel work going there, which was the work we used to us to train students and new graduates. With that work and the pool of new talent not entering the organization, there's a large 5-6year experience gap.
It's also put significant downward pressure on my local wages, if we don't close our mouths and step in line, our job will be sent to India.
Overall, it's been a pretty big loss to the technical industry of my home Country Canada.
And what makes you think Canada’s higher education standards are any better?
Isn’t your country economically failing right now with skyrocketing levels of unemployment, inflation and homelessness?
Look up and read these articles, it'll be an eye opener:
"95% of Indian engineers unfit for jobs" by The Economic Times (an Indian newspaper)
"Whistleblower Reveals Fake Degree Epidemic in India", BBC did an article on it
Massive unemployment and pressure on the housing market is bound to happen when you import millions of unneeded people every year...primarily from India.
@@micahaalders9840 That’s an issue you need to take it up with the Canadian government instead of blaming Indians.
If native Canadians were doing a good job with their economy, maybe their government wouldn’t feel the need to import people from other countries to prop it up.
Identify the root causes of your economic failure before pointing fingers, would be my suggestion.
@@anuragchakraborty8766 don't worry we [Canadians] don't blame India, our government is below average despite our top tier educational system.
You forgot to mention that women being mothers in India is why its population growth has steadily increased whereas countries which have women working find it harder to have children or as many e.g. China and Japan. I would say that over long term, that is a strength to have steady organic growth than a 100% increase for a short term in the workforce because say washing machines are now being utilised and then face an ageing population because the working womens culture now means less children are being raised.
India is too chaotic to become a superpower. People lament China for their authoritarian governance, but it’s the reason why they were able to grow so quickly.
Autocracy is more efficient
Good fake dictatorship is much better than bad fake democracy.
Let's be realistic. India will never be a developed country in it's lifetime. Even if India grows, it will get stuck in the middle income trap forever. India will also face major resource shortage due to overpopulation and face the wrath of climate change. India's resource base isn't large enough to support an economy too large either. Also the West and China can sabotage India in a jiffy if it grows too much. Also most Indians don't have unity and are still backward minded and tribalistic. Corruption and being unethical has become so deep rooted that it's become impossible to fix it. Also, the number of talented Indians leaving India is increasing at an alarming rate every year and many of these Indians who left India brag about India being the next big thing which is extremely comedic. The most mind boggling thing is that even if God comes down from heaven and says that India will never be a developed country, pa jeets will call him anti Indian and continue living in their fantasy of India being a developed country. Moreover, countries that actually became developed bragged less and did more. India brags more and does less. To conclude, India may improve in some areas, but it always stay a corrupt 3rd world uncivilized banana republic. Hence, forget your dreams of being a developed country pa jeets. India is an utterly failed experiment.
Adios
The difference between India and China is... China focuses on education while India on religion...
This is the only truth on the matter. All others are lesser facts.
India has still a long way to go before becoming a superpower
I see lots of armchair economists from Bangladesh and Pakistan bringing up their fallacies about why India will not improve in future 😄
PS: I am also a Bangladeshi
India is already a super cow power. 😂
In ppp or real terms we will become a rich nation by 2050s but in nominal terms may be after 2060s or later😢.
@@Anonymous------ Tell me about Bangladesh and Pakistan, they even lack basic education
Doubtful India will ever become anything, as its population increases the number of unemployed increases, but there will be more mouths to feed. There's nothing India can do to become a superpower, it simply doesn't have what it takes.
@@swapneelbehera260 Per capita is what matters.
India has been projected as the next superpower from 1980s
But still is a super cow power. 😂
Pakistani 🤮 @@Anonymous------
No india was fucked in 80s
India has done phenomenally well look at numbers. Our performance has been better than all Asian countries except China. India has grown at 10% nominal terms for 25 years that has not been the case even for Asean.
3:00
Lack of laws around affordable education is a big barrier. People end up spending a fortune.
Corruption is also a big problem
because you are also paying for the 25% reservation RTE created
Countries become wealthy before they become educated. Trying to get education first keeps you poor.
It's not like we can't do both, right? We have big enough population of young people to keep growing while educating next gen. It's not like you will start working under 18 people.
With education you can make the leap from a agricultural dependent economy to service based economy, largely skipping the manufacturing step.
Educating next gen means a developed country in next 25 years.
@@lawsoforganisation that must be from income tax, right? That should not impact school/college fees. Its seems a supply-demand issue to me, more students less quality institutions.
It is refreshing to see a western analyst actually talking about real problems of my country than lecturing about our "democracy" in this election season.
.
At least one point that he has highlighted about the infrastructure is being rapidly addressed. And my hope is his catchline about "predicting the future" turns out true in our case.
.
Having said that, another commenter has highlighted the trend of India being a country that "equally disappoints optimists and passimists" is quite real and I think India will end up only the 2nd largest economy in this century and then for the rest of the millennium - behind China - which has been the story for the entire human history with some hiccups here n there.
The ability to speak English deserves an asterisk. I’ve had coworkers who I just simply couldn’t understand, and I’m really good at understanding accents and broken English. I know it’s not their fault, but it deserves some consideration
Yeah but business communications, manuals, emails etc are in English which they can read and write. Makes it much easier to deal with even if a person has an accent.
Yeah, they also got competition from countries like Philippine and Mexico.
North Indians actually speak good English. But people with good English (recieved good education) are working in high end jobs and not in outsourcing.
@@Dr.Kay_R No, they migrated out of the country. The only people who stays are people with basic english skills.
@@nntflow7058India has many languages. Around 19500 if you add language and dialects. Think of it like EU, not a single nation. Accents are different in each state. Like how Balkans speak English differently than French.
I don't agree with your statement that work that is repetitive, boring and sensitive to labour cost will be the first to be taken over by machines. In developed countries machines often do the difficult but most interesting work. The job of most factory workers is just moving things on and off conveyor belts. The same is happening with AI. It's taking over the most mentally rewarding jobs, not the boring ones.
Do you have any examples of the said mentally rewarding jobs that are being replaced by AI?
@@ashd9196art, literature, etc
@@ashd9196 prompt engineer are apparently replacing software engineer in tech today.
@theforsakeen-9014 Maybe for braindead jobs like web design, but if you actually tried to use any of these AI tools, you'd know that it breaks down quickly if you try to generate code for anything fairly complex. As long as we don't have an AGI that is able to actually think, that is still ways ahead. AI tools in coding are mostly just for support as of now, not outright replace humans, at least in complex areas.
@@theforsakeen-9014 AI has helped software engineers to be faster and more productive for right now, not really replaced them. It also means there will be less number of required software engineer to do the work, so they are not getting replaced but lot less number of people are required.
"For some reason" ... dude you answered the question. We ALL KNOW the reason. Remember that part about a drop in quality?
As American living in India for several months, a discussion I have to explain to them, yes the wages are 10 times higher, but so are the cost of living. Everyone has their own apt,car, and you have to eat out often expensive terrible tasting food(compared to Indian cuisine)
I always advice it's better in India, because at the end of the day, its about how much you can put into your savings. And it usually comes out to be similar. So stay with the good food,friends, and family instead living a lonely Suburban lifestyle
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject! Thanks to Mylah Evander the lady you recommended.
That is true my dear! Investment is the best idea presently and without it, human struggles are worthless.
I'm worried that my savings of $15k is losing value because of inflation hikes and more.
That woman totally changed my life for good. I have come across individuals but none is as honest as Mylah Evander. So surprised you know her too.
No doubt!! I never knew she had gone viral. I decided to back up my assets and property with her when we met at a conference in New Jersey for the first time.
Is there anywhere I can get across this woman for a startup???
It's a good video, but almost none of us Indians use wood to cook food.
Humare aha karte hai
It's hard to maintain economic growth while taking care of 1.5 billion people in a hostile neighborhood and have a functional democracy
Functional democracy in India? 😂
Right
@@Anonymous------ Yes, the largest one at that
@@Anonymous------ Keep laughing.
@@Anonymous------ Obviously more functional than Bangladesh and Pakistan 😃
Not enough industries and private wealth creators. We still have the socialist-communist hangover from the 60s and 70s, where all the jobs should be provided by the government alone.
There is not one example of a developed communist country but somehow we still believe in the idea of everyone being equally poor.
Every idea of capitalist economy is countered by the same old "economic disparity" argument, not looking at the fact that all these socialist schemes need money that ultimately comes from private industries and people employed in it paying taxes.
I second this
China is a developed Communist country...
This was how South Korea and China became an advance economy. Deng said "Let Some people get Rich first". As for South Korea, the entire government threw its weight behind Samsung, and that one Company is like 20% of South Korea's GDP.
Is a Tricky situation, you need certain group of People to build an Industry, but you also need policy that make them drag everyone with them.
German shepherd - do we need strong economy
Thank You :)
Great insight EE , may i request a video on Central Asia countries
Next economic power INDIA,
thats what I'm hearing for the last 20 years 🫠
India functions in spite of it's government, not because of it. And Indias most important export is people (like Ireland and Scotland, just a teeny bit bigger)
0:14 take correct maps of bharat 🇮🇳
0:18 right one 👍
Another thing to point out is strong traditions that keeps things more the ways they are, for example Indian farmers makes up a massive percentage of the population because their farms are mostly still small scale individual farms using small machineries or animals and hand work. The farmers groups have huge political power and actively oppose any attempt for large companies with capital to buy out the land to do industrial scale farming with fleets of large machinery and much less number of workers. Similarly, traditions like women not working, castes system limit who are allowed to have which jobs removes large percentage of potential workers from industries that are in high demand. That and lack of modern infrastructure like railways that was built since the British means they are capped in term on how much growth can scale up.
Is male chauvinism common there in India in modern day?
You shown India map wrong on thumbnails. Kashmir is fully part of India 🇮🇳
As an American, I can absolutely respect Indian women opting to remain in more traditional, household roles.
Not everything should be about money.
Here in the U.S., we see far more dual-income households with children being raised by daycares, babysitters, and government schools than by their own parents.
Children aren't instilled with nearly as well-grounded family values as they once were, leading to a variety of increased social problems.
This is why I, as a man, opted to be the sole breadwinner of my family. My wife doesn't work outside the home and, instead, does far more to help me raise our baby girl. She also does a lot more household chores.
Also, being that we only have my income to rely on, this means we need to be more careful with finances and not spend so much beyond our means as many Americans often do.
We live in such a consumer-based society , with massive amounts of consumer debt. It's a lot easier to fall into that when you have two incomes. I see that with a lot of my coworkers.
Just because you have two incomes, it doesn't mean you are really twice as well off. More often, you spend far more and are even worse off than if you had just a single income.
This is especially true when you end up needing to spend almost your entire second income on childcare because both parents work outside the home.
Nothing wrong with both parents working really, but it needs to be ensured that the child(ren) are attended to all the time and provided the undivided attention that they they deserve and always yearn for. This care plays a big role in preventing any potential mental illnesses which the Western society today seems to be so plagued by, there's no happiness whatsoever, only depression everywhere, I can't think highly of a society that requires permission from the children for their parents to meet them.
@@lloydkasal4116 That's kind of my point. What's wrong with both parents working is that it nearly always ensures children are not given said attention and it always ensures they'll have a worse upbringing.
This is a big reason we have such mental illness in the West.
Both parents working, takes away from children having the best possible upbringing.
The divorce rate also doesn't help; more than 50% of children today grow up in single parent households.
13:18 u r completely wrong here. Indian households have access to LPG gas and are equipped with facilities. The reason for low female participation is the CULTURAL one where women were supposed to raise kids and look aftet the family and men was supposed to take all the financial responsibility.
But this is changing fast. GenZ women won't sit at home and more n more are now joining the Labour force.
@MayankTrivedi2i m not any economist to provide facts. See it for urself. It is my observation. The girls around me have aspirations. They do not want to live a rotten life in kitchen. I too have aspirations.
Also modern men r showing a subtle reluctance to bear all the financial responsibility.
@@neharathore4160 Your anecdotal experience is not getting reflected in the real facts.
Just look at indian villages you'll find your answer, majority of india lives there
@@AmarSingh-ms8bh i m residing in an Indian village and not in some megacity. There are no Huts in my village. Everyone has decent house, tubewells(in rajasthan which is considered a dry state), washing machines, etc. People around me now falls in upper middle income category and girls are rapidly joining service sectors. People have moved out of agriculture, so there is labour shortage and we use machines for harvesting.
@@neharathore4160 my dear friend i know these things but it is not sufficient for making us a superpower. Graduates are finding it very hard to find a job in their field of study and the cost of education is rising a lot faster. Recently I tried to enroll my niece in kindergarten they told me the fees of 5000 monthly and it was a very basic very simple school. And ten-twelve years ago it was around 500-700 month. I took a train from west bengal to delhi, my waiting list didn't got approved so i have to travel in an unreserved section there i saw how much behind we are from becoming a developed country. Maybe due to our caste we are only surrounded by them from our caste and we can't see much poorer people around us but in a basti, they are even having proper water connection. 24x7 electricity. Only the rich are getting richer
To become an upper income country drastic decisions are needed....india might be stuck in middle income range
what most people outside india dont understand is that indians never saw economy as the highest goal, but as a tool for well-being. Its not understandable for people in the west, but indians are kinda proud of doing everything their own way, even if it takes longer. Extreme poverty is getting better every year and there are fewer people every year who cannot eat properly. The important things are that people can eat and that they can learn, economy isnt the most important thing for India.
Thank you for doing this.
India is diverse in every nature.
The beauty is that it can rule the world but at the same time fail to solve internal conflicts.
The amount of potential the country has can be utilized for so much good.
But the political parties, be it right wing or the left wing dont care at all.
Problem with India is rising inequality. Wealth is concentrated to top 50 rich corporates while 800 million living on rations.
That has dropped since Independence.
That means India has 600 to 700 million middle class which has grown from 300 million before 2010. Look at the other side also.
No update to India's ranking in the leader board?
Ssshhh ur questioning the propaganda bro😂
where is the list ??
The message of the video is buy India products which seem great to you, don't over-negotiate! What you give is what you get.. great things are always waiting.
Just because people aren't actively looking for paying work doesn't mean they don't want it. There is always a segment of the _potential_ labor force which has given up because they are considered unemployable, due to hiring standards. This is usually only addressed when there is a labor shortage, relative to available employment, which doesn't seem to be the case in India. Fewer unemployed poor would substantially increase domestic consumption, so it is a self-sustaining economic impoverishment. Also systemic corruption doesn't help.
Theoretically if you aren't looking for work it means you are able to get by from whatever form of freeloading is available. But the labor participation rate is a far stronger indicator of potential than unemployment rate.
A similar dynamic exists in housing: the politicians aren't really pushed to do large scale homebuilding because demand for homes is fairly low right now due to low affordability, yet if we look at average square footage per person in major cities we will see that a lot of people are putting up with tiny living conditions and would obviously prefer a larger supply of homes.
My both sisters are highly educated (microbiologist) and want to work. But there aren't many good jobs in this field. So they stay at home right now. If a company comes here, they'll be ready to work.
@@Dr.Kay_R Sorry to hear that, I hope they will have an opportunity to apply their education soon. It's all too common a problem.
These comment section will be wild
do not redeem sir
Yes. Let more people know that India is just a failed sh8hole.
why did you reedeeem it saar? You did not have to redeem it!!
Change India Map With proper Corrections❤❤
India is literally one of the perfect countries for growth in the 2020s-30s
Fun fact, Invideo AI is an Indian startup 😁🇮🇳🇮🇳
India can never be on the same level as the European, North American or Northeast Asian nations, at best it can be like north Africa, Iran, Indonesia or Central America on a per capita basis, a lot of factors are at play here and what plagues India would be similar to what Bangladesh, Sri Lanka or even Peru or Ecuador faces. Not politically correct to delve into it and not an easy thing to explain and accept.
Basically what is holding India back? Indians are holding the political entity that we call India back. Don't want to be blunt but sometimes if information is important to some people for decision making purposes then it is what it is, bitter pill to swallow but a pill that needs to be swallowed nonetheless.
As an Indian, the biggest issue we face is of 'unskilled labourers'. These people have no education, no skills, are just passing the time scrolling through reels and have no ambition in life because government is providing cheap food or shelter to them.
Probably the best video on India's economy by a foreign channel... covering both- The Pros and the Cons... Otherwise most of them only show one side (that fits their agenda).
India is so interesting and its size is really mindboggling
Hard to believe that India is 150 times bigger than greece population wise😂
India's one state called Uttar Pradesh has more population than entire Europe. But do you know why India, China, Indonesia have so much population? It's because these countries have the most fertile plains on the planet due to which the population boost happened way earlier. In fact India's relative population today is quite low compared to like 1000 years ago.
India is its own mini world. We have the tallest mountains, hottest deserts, beaches, and what not. India has more than a 1000 different languages so much so that if you travel 20 kms the accent or language itself would change. We have one of the oldest culture as well.
I encourage you to please visit my country if you ever get the chance.
@@mohakjain5802 ek baar mere pass enough paisa hone ke baad mai poora Bharat ghoomunga 😊
@@mohakjain5802 I really want to visit India but I wouldnt know where to start. Where would you recommend?
@@aroto Depends on what you want to see? If you wanna see ancient Indian architecture and UNESCO sites the best places to visit are Delhi, Agra (City in which Taj Mahal) is located and my City Jaipur which is famous for tourism.
If you wanna see nature go to Kerala also known as Gods own country. Just search some pictures of Kerala places to visit and you will see what I am talking about. If you want to see beaches then go to Goa, If you wanna see the modern India then you can go to Gurgaon or Noida or Bangalore (also known as Silicone valley of Asia) If you wanna see Switzerland but in 10 times cheaper cost then you can go to Kashmir. If you wanna see Deserts then you can go to Jaisalmer.
Thank you for this vid
India's young workforce is increasingly proving that it is a good alternative to China's as Chinese labor becomes comparatively more expensive.
I was expecting a bit more analysis on infra investments, GDP figures, policies etc.
Thank you! Manufacturing sector might give the upper hand into becoming a major member of the United Nations.
I'll just say it now
WRONG MAP!!!
I think you're missing an important factor. 66.2% of China lives in urban areas. Approximately 1/3 of Indians live in urban areas. That means India has fewer people that need to be farm animals for capitalists in order to survive.
Nobody cares
Well done... thorough without bias..
Rational and realistic
So, to sum up. Superpower by 2020 didn’t happen?
It never has.
"Superpower" also entails power projection across the globe. It would actually be nice if India *didn't* aim to dominate world affairs, and instead settled for economic growth and cultural influence.
if GDP increases at good rate it can super power by 2050, any country cannot be a super power over night
bro focus on urself instead of dreaming abt things that'll never happen
@@withervoid4966buying BYD, Apple or Xiaomi will not increase GDP, creating BYD, Facebook, Xiaomi or Apple will increase GDP.
They're everywhere now.
Unfortunately
trying to cover whole world
India is potential country. Always if or when but never is. at least for now.
Why change it? The old title and thumb was perfect.
Every time I've seen outsourced India code we have to replace it because it doesn't work.
Dang 😭😭
😂
finally white people doing some work
Telling lies has become the only coping mechanism for western people! Guess you guys just spend very little to no money on those outsourcing! You get what you pay for, even in china.
Here in the USA were trying to cut back on immigration from India.
too little too late, it must be accompanied by mass deportations
look at the state of Canada now and take lessons from it
Bro usa is taking Indian skilled people with masters and phd degree if all indian leave usa your economy will collapse all ceo of your top companies are also indian 😂
@@Aashishrawat if Indians were really as smart as you try and portray them, then why is India so poor. My one state of California has a larger GDP than all of India and our population is less than 39 million. Yes, we import the best and brightest of India and to be honest a lot of them aren’t worth the trouble and people are getting wise to that. The best of India is mostly mediocre in this country with a few exceptions. Btw most CEO, and doctors in this country are white, not Indian. India is like the mouse that thought it was an elephant, but so long as they submit to the UK in the commonwealth, then none will respect it.
@@vaibhavbasu4992 they are the best for Indian standards, but far from the best by American standards.
Hey mate you mentioned a while ago you made a course on Australian accents or something? Could I have the link to that? Thanks!
Short question.
Do you have a second channel in german?
Educated jobs are getting saturated in India. And Brain Drain is not much an issue
Graduate educated unemployment is more than uneducated unemployment.
Education doesn't produce a wealthy country. All Western countries became wealthy before they became educated. It means you have to be productive, not educated.
Put correct indian map
1:00 I feel like the right stat on that chart is far more meaningful. Doctors are by nature a per capita profession.
What China achieved is great. However remember China is an authoritarian state while India is a democracy. In a democracy nothing comes easy. Every project is met with an opposition from some end which are not quashed but dealt with tools of democracy. To progress with everyone on board is going to be slow ardous task but once achieved the foundations can never be shaken.
Wrong map
Any conversation about India's economy that doesn't mention corruption is a waste. You mentioned "brain drain", which is genuinely a real problem. But the biggest driving factor for it is corruption. The people who work so hard, study and learn English/high-tech in demand skills only do it because any taxes they're paying are funding the lives of leeches. In the west, you pay high taxes to get better services from the govt. Clean air, good roads, better healthcare, and so on. In India, you pay high taxes to get absolutely nothing in return.
Every state/central govt that comes into power in India, actively destroys merit, and subsidizes the lives of their inefficient vote bank at the expense of everyone else in the nation. All politics in India is freeby politics, every party promises more free stuff if they come in power. "You get free water and electricity, more jobs and university seats in government institutions reserved for you, IF you vote for me! Don't vote for that other political party that's also promising your free stuff, I will give you more free stuff than them!". Who do you think ultimately pays for all of that?
Also the persecution of women and the LGBTQ community is directly hurting India’s potential GDP growth, besides being immoral obviously.
@@anuragchakraborty8766LGBTQ doesn’t significantly contribute to the indian economy and their rights have improved so much since 2018.
But yeah more women in workforce would definitely help.
This is the best comment on this topic which summaries the dilemma of India
@@anuragchakraborty8766how is the lgbt and women thing hurting gdp growth?? i still cant understand your logic
@@anujrbx because you fascists are restricting their participation in the workforce which is hindering their ability to access disposable incomes.
Simply having a larger workforce doesn't necessarily equate to greater progress; Europe once held this belief but eventually learned otherwise. Additionally, there's a phenomenon where improvements in household conditions lead to more women entering the workforce and earning higher incomes. Consequently, there's a tendency to overlook men who earn less, creating a cultural bias against them. This imbalance can lead to a marriage gap within the country, which in turn can contribute to future population issues in places like India. While this might seem superficial, numerous examples from various countries, including many in Asia (such as South Korea, China, and Japan), as well as Western nations relying on immigration to address population concerns, illustrate the validity of these concerns.
While innovations like washing machines have undoubtedly benefited the economy, they've also had societal repercussions that often go undiscussed, particularly concerning their impact on gender dynamics. Despite this, it's essential to acknowledge these issues rather than dismiss them as taboo.
It's a fact that as economies thrive, challenges related to culture, religion, population decline, and divorce tend to increase. This trend is observable across numerous countries and cannot be ignored, and a open discussion should be held on this discussion too.
Could you do a video on Malaysia soon? I've done a bunch of research on it since my wife is from there but I'd love to hear your take.
People are absolutely livid because of this video 😂😂😂
Wrong map EE
AI can't take the outsourcing works from Indian companies, because even if it's done by AI (which Indian companies have also access to) , it will be less costly if it's done in supervision of an Indian company rather than a company from a developed country .
Absolutely. India has dirt cheap labour that is still cheaper than AI induced work. At least for now.
Culture determines everything
its gonna be wild when it becomes a superpower in 2020
🤣🤣
You upset a lot of Pakistanis with that map 😂
😂😂
True
Nah Pakistanis aren’t radicals like yall lol. I only see Indians nationalists spamming and crying over maps
Just wanted to highlight that the map of India shown at 0:12 is incorrect. Request the creator of the video to use accurate details.
Whats wrong with it? It looks the same as google maps to me.
!ncredible !ndia Superpower 2020
only 35 % people in india living in the cities rest are in the rural india which is highly dependent on agriculture ,once they move to the cities for better jobs and government was able to provide them employement the growth of india will be in double digits for decades
You used wrong map of India.