Why "Made In India" Hype May Not Be Real - Dr Raghuram Rajan Explains
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- เผยแพร่เมื่อ 12 ก.พ. 2024
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In this part two of the economic episode, we welcome again Dr. Raghuram Rajan. He is the former governor of the Reserve Bank Of India and an Indian Economist. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund.
In this episode, we will talk about the 2024 politics and the election season that is coming up. We will break down how religion is one of the major factors in Indian politics and how it dictates the decisions of the majority of citizens. We will also talk about the positive and negative of the current government and why we need a strong opposition.
This was an in-depth conversation about economics with none other than the former RBI Governor Dr. Raghuram Rajan. I hope you will like this knowledge-packed conversation and do not forget to share your thoughts in the comments.
#rbigovernor #election
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About :
TRS Clips is a collection of SHORT CLIPS from The Ranveer Show podcast. Enjoy our latest knowledge-fueled videos from the BeerBiceps team. Every conversation on #TheRanveerShow is intellectual, deep & progressive. We cover everyone from entrepreneurs to Bollywood film stars to even athletes.
Today, The Ranveer Show or TRS - Happiness Through Curiosity. A show where we host the world's greatest success stories and try digging out their secrets to success. Every conversation is an EXTREME learning experience for the viewer.
99% of comments you can see people can look through Ranjan’s hypocrisy and his agenda
fortunately, yet there is huge population who worship cause he has a phd from MIT
@@praneetk9047 yeah the larger 1%
He is basically saying, just don't become a competitor to China in Manufacturing. How is it neglecting services if govt is encouraging manufacturing industry. Did gogt say it will penalise anyone for focusing on services? He is definitely sounding like a broken record.
Government doesn’t have unlimited funds, they can only focus on one strategy if it is to be effective
He only says don't subsidize manufacturing.
@@ragul3204 why not when it can create more jobs, and can become additional source for gdp growth?
The maturity level of the comments on this channel is pretty low
Seriously
sanctimonious folks like yours rules india till now where it is , even toilet had to built after 2014 shame that was your "maturity "
They think they know economics better the our former RBI governor😂😂
@@loknathbehera6557 He is a anti Modi propagandist, he clearly doesnt know anything, look at all developed countries today, all of them are large manufacturing countries.
not lower than rajan.
People like Mr Rajan are the reason India was held back in spite of no dearth of talent. The need of the hour is positive and forward thinking, not the stale old frog in the well mentality of pulling each other down.
LOOKS LIKE ANDHBAKHTS ARE HERE ALSO TO POLLUTEMUCH NEEDED INSIGHTS & INTELLECTUAL THOUGHTS.
@qwertyman9560 bhak
@@fileload9806 explain how?
Andhbhakts who never look to our weaknesses and constructive criticism are the reasons we are still behind.... people like u who are sitting in there own bubble.
@@abhijitn943 Maybe you lot can try something beyond "andhbakts" for 2024, its getting a little outdated.
Basic understanding of why india spending so much on exports are driven by low manufacturing in india. Government is doing right thing to move towards it. He is partly true that we need to focus on first and last of product cycle
Poor from you ranveer that you invited him on your show despite knowing full well how he is completely biased towards congress and would never shy away from criticising even the best of works of India as nation
Dude even questions the point of india becoming a super power.
EXPECTED MORE FROM YOU RANVEER?!!
Ranveer...I am disappointed....you are becoming a politician!
I would say that Manufacturing is extremely necessary. It is interesting that Mr. Rajan gives the example of Apple and Fox Conn. In-spite of Apple being 3T dollar company, it hardly creates about 90000 jobs in the US but creates millions in China. We should create an "Apple" of India (no doubt) - but it will solve the employment problem for the smart people (engineers etc). It is large scale manufacturing which is pivotal - which solves the employment problem for the common uneducated people.
People are trying to see politics rather than trying to understand what his message conveys
open anti india message ,hidden agenda.
the only thing I agree with him on is that we should be doing it the right way- education, ecosystem and then getting into entrepreneurship. Apart from that he's very pessimistic about India.
Give data, not conjectures.
@@subhrajitgupta5535 fragile 5 to top 5. That's your answer right there.
@@superman5742 Its not data, its position.
@@subhrajitgupta5535 that's your biased conjecture
@@superman5742 Show data.
Manufacturing is the need of the hour,
This guy was against this and hence he was asked to leave
He was asked to leave bcz he didn't sign demonization
@@DS-xb1zy demonetisation stopped his created inflation & bubble economy of India to benefit lutyens & his foreign masters.
Btw he is getting rajya sabha seat from Congress party. Just making it clear to you, what his answers will be like!😂❤
I think you are not aware about the actual fact. Just to clarify you he is not taking rajya sabha seat from any side..
Stomach burn??
Thanks man! Now I understand his answers.
He is Pro Congress
@@Shri1202 he is an expert of his domain first.
I am from semiconductor industry..I dont think he has any idea how tech industry and R&D in university works. Point1: R&D in uni wont go far without indutry collaboration...therefore we need manufacturing industry so that we can fund all those R&D platform in uni or institutes..2. China first built manufacturing industry then slowly it started funding those unis. Initially they didnt generate IPs neither they bothered ..3. We have been generating good students..how many IITians stay back in India? So we need manufacturing industries so that we can absorb at least good students and propel R&D...sorry to say ..these economists talk very wishy washy and self contradictory.
Very well put
What manufacturing has got to do with IITians staying back in India?
US doesn't have manufacturing. Still has the most number of valuable companies in the world.
@@ragul3204 who said US does not have manufacturing? Some of the established products assembly they tarsferred to other places so that they can do it cheaper. But that happened later. Initially it was not like that..
IITns join banks
What india got for $11 billion semi fab is bought old outdated 28 nm tech whose cost can never be recovered. China is already making 7nm for huawei phones. India has no R&D in anything, forget chips it cant even make simple parts of the iphone after 6 years in india. Asml Netherlands is an example where they do RD without any semi manufacturing fab pkant. They only make the ev lihograohy but its so advanced that entire world depends on them. India should have done that focus on a niche area and specialize instead of importing this outdated tech
Looks like all comments here are paid 😂. Some of his points are good and need to be really given attention.
To understand him, one need to be good in economics and should not have biased and a political view. Comments sections show how low intellectual people we have in our country
Ya not like they know economics .
RIP those who believe they know economics better than former Chief Economist of the International Monetary Fund and India's ex-RBI Governor.
His Negative thinking... Approach is old n negative... No proper reasoning... Same old narrative...
He has good insights as whole..don't just come to conclusions..respect his achievements
I hope Bharat has better than even best credible personality for the pot cast. Don’t bring such nut case to confuse the youth and citizens. Please keep your standard high!!!! 🙏
He is also selling
Bank was cleansed after he left tbe governor post.
they know this dog belongs to Congi
@@ramakrishnak4812 its a foreign stooge, congi is just a tool.
The fact that he calls it hype, speaks volume about him. Lets say make in india is not working as expected. Should he be helping make it work or ridicule it? Such a filth this character is.
true he only there to blame same like Arvind Kejirwal..
I think mental health consultants is another area that needs to be explored
Low productivity in farm? Baba go to Haryana, all richie rich are farmers... Farmers are entrepreneurs...
Laborers in the farm vs laborers (security guards and sweepers) in these big companies.
If he is comparing India to European countries and to China, then he is right in saying that productivity is low. The level of automation in farm sector is insane outside India.
Don't expect productivity to increase any time soon. Farm sector employs over 40% Indians. Unless those people can be moved to the manufacturing sector, large scale farm automation won't happen in India.
I agree we have to have top notch universities in India. But, unfortunately that won't stop people from going abroad to study. They go to settle down there and work in a more employee friendly environment.
Manufacturing can be equally important or I say more important. There are not many Apples in the world. We can not be importing our daily use items for 1400 million people. We need to manufacture the products at least for the Indians, if not for export. And why not go for export as well. When we manufacture for Indians. it needs volumes. And when we manufacture volumes, export becomes easy automatically
.
Except these bootlickers everyone knows manufacturing is the must needed thing for India and it will not manufacture at a blink. It needs time
Domestic manufacturing is important...
Don’t agree with the analysis at all. The policy is helping create the basic infrastructure as well commitment to the manufacturing sector. At the same time the government with influencing companies like Apple and Tesla to invest in the manufacturing units. this will enable know how to come to India that will further promote the infrastructure and knowledge. China didn’t create any know how, it built the infrastructure and enabled the ecosystem to attract companies with knowledge how to come to China. India is better placed with the current geo political sentiment in favour of India and anti China to help the sector
He kept saying that Indian economy would crash anytime soon, well currently the Indian economy is going to pass the 4 trillion dollar mark. He also says that manufacturing is not a viable solution, then how has china become what it is today, it was manufacturing. He says make in India is a hype, but contradicts himself buy saying that manufacturing should have happened 30 years ago. To suggest that make in India is a hype raises a huge red flag for Raghu, and it’s something China or Pakistan might say. Raghuram Rajan is a dangerous person with no good intentions for India. Just look at his tenor as RBI chief and follow the trail of bad loans and fake currency circulation. No wonder the congress is giving him a ticket.
Indeed
Manufacturing mostly give employment to large audience to uneducated or less educated person which is need of hour and service mostly give employment to educated person and India already have developed service sector and service can Grow only by increasing manufacturing sector
and he was ex rbi chief .. basically he is revealing his own blunders .. Sad soul
Study the bullet proof balance sheet of rbi..under his tenure..
Why since then Indian fx is less affected by usd ,he gave the formulae.
2014 se pehle bhi duniya thi bhai
@@DS-xb1zyaur npa 30lakh crore ho gaya uska kya😂
@@DS-xb1zy yeah Scams ki duniya ..Loot ki duniya, Aise Ha Ra Mi Yo ki duniya
@@DS-xb1zy Just go and see even plastic mugs are imported from china?? There is no rocket science in making such products ..just see the trade balance b.w India and China before and after 2008 ..
Then we have to think why India does not attract talent, why working class professionals do better abroad than in India. Does any politician care about them?
Keeps quoting China, what was he himself doing with his fav UPA govt when China was turning their fate around? Aiding them?
The idea of controlling the main components of a business works only if you can find cheaper labour elsewhere (apple's example that he gave), if Americans had cheaper labour than china would they still approach Foxconn? Manufacturing provides jobs to the lowest sections of society and above, esp when labour as cheap as it is in India. Understanding your country's situation is also important. Economist my ass.😅
Also, we know we have issues in terms of quality, but that can be managed with experience in the industry. Chennai for example is now a hub for automotive industry, it happened with time, the extra push this government is giving is relevant, the first steps are necessary. And who says we don't have great products, goto Africa, South America, south east asia and see which bikes they're using. All that came from Indian automobile industry. It takes time.
He's right upto a point.Its a poor reflection on our society that a poor country that needs to spend a lot more on education, science and sports to build its future is instead sqandering resources on bollywood, tollywood and such nonsense.
How much did this ex governor field for education health and all when Khan gress was i power for a decade
Whether its working or not. We will make it work
Some points were really good from Mr Rajan
bro what good points? hes saying to not prioritize manufacturing because Chicago people are looking for people who can service them and indians are good in this?
is india not good at manufacturing? to create own products and set up assembly chain else where?
look at mahindra for example their tractors are best sellers in Africa because the africans want japaneese durability and chineese type cheap price which they are getting from mahindra products
his shit talking of foxconns valuation is bullshit to say the least
steve jobs created iPhone and macintosh because he was surrounded by his manufacturing peers and love for creation not for servicing other people
you create products because you want to build not for the sake of money
I am appalled that he was indias rbi governor for 10 years
if UPA had did 10% of work bjp did in 2014-2024 india would've already been 5t economy by now but ALAS
Hard work beats talent when talent doesn’t work hard. Rajan doesn’t have a vision to look beyond his economic knowledge. Stay away from these kind of people. Being cautious is one thing, but this is looser mindset,and not growth mindset.
Waiting for IT Cell comments
What to do habitual shit guy come on time and every time
Can he influence the Opposition parties who are indulging in even more wasteful and destructive vote - catching populist propositions in the states in which they have electoral opportunities?
Government while doing so many policy changes, along the way it tends to make some mistakes but what matters is if they find any problem with the Newly framed policy they are actively getting feedback’s and take back what they actually feel not right immediately which is a sign of growth mindset and is good for India…
What a amazing way of saying smthing imp so easily...
I got to knw about now frm this show....
i feel sad even after 75 years of independence such ppl are still batting for the west .. sheer hatred for Bharat ..they always want " Tum s aala Ghulam ka ghulam rahega" (lagaan movie)
This guy is a living proof that academicians do not make good policy makers. There is a big gap between theory and practice.
If made in india is hype then indira gandhi started the first hype namely garibi hatao in 1971- 72 and still we are poor after more than 53 years. 60 years of constant fooling.
The points which Rajan is making is very important which almost 99% crowd will dismiss saying that he is a congressi. He said India is putting more effort for something which has less value and the point about a single Indian product not dominating global markets. These are all facts but instead of listening to these facts the products of our zero critical thinking based education will brand him a congressi, anti national, socialist and bla bla blah! India not spending enough on R&D(which culture Modi government has continued)he also talks about. Are these not facts?? Remarkable how people get triggered by facts!!
he is a congressi and that is a fact! what kind of a loser would follow RaGa
R&D needs a lot of infrastructure, platform and investment which takes longer time, you may not see the results, but still hate Modi
Is it enough to be in the service industry? Without manufacturing as its foundation, can the service industry withstand world economic risks? Let’s use a Chinese proverb as an example: China: I ate 5 pieces of bread and I was full. India: I can eat the fifth piece of bread directly and still feel full.
Sorus signs his pension🐍
If a claimed Pro congress person says truth then also it’s a truth. We should fix that.
Shame on ex governor to be toing the anti national congress' line
The government and its advisers are several steps ahead of RR, who I had high hopes for but turned out to be a wet blanket.
Indeed
Point of changing policy on whims is valid. Other things which he mentioned is work progress it’s not like will happen overnight.
I won't agree with this... Manufacturing is super important for India. I would say services/ip development is so important, it may create few thousands of jobs, but Manufacturing super important for India it creates, not thousands but creates lakhs of jobs. Remember India is a very big country in the world in terms of population, we need a very very big push in Manufacturing in India. This is a very very urgent transformation what India has to do right now.....
Very nice video 📹 👍 👌
The man who placed india in Fragile 5.. now can only speak these poor words for our nation.
He is a legend, exactly underatands the problems in IT industry, not sure if modi govt any has intellectual to atleast understand such issues.
Ranveer a few of these kind of people u invite u will loose a substantial chunk of ur subscribers
He is a negative man. One can not leave attempts to achieve something big because os fear of failure. Now Rajan walks with RAGA and now Rajan is product of CIT and not IIT. CIT means Congress Institute of Technology.
Only educated and people who don't stick to a particular party will see what he's saying. Well said Rajan sir. WhatsApp University graduates of BJP don't know that manufacturing is already being automated on vast scale. Even if the entire manufacturing industry shifted to India, it won't employ that many people as it did in China. Plus , due to AI and robotics, we are going to see mass production of products , so cheap that even China couldn't have anticipated. So basically, manufacturing jobs are not going to be economically viable anymore. Infact, according to CNBC, American media giant, future of factories isn't huge factory in China or elsewhere, but small automated factories here and there, like even in New York, LA, London , Paris making products near and at much cheaper prices than ever thought before. It's also going to friendshoring where US friendly countries will get part of manufacturing, and near shoring where countries like Mexico, Canada and Brazil will benefit. So it's clear that India will not get all the factories for atleast 10-20 years. The only way forward isto be early adopter of AI and sitting at the front row. Like China did by sitting at the throne of manufacturing. And now China knows that where is the future. US Europe knows where is the future. And India knows it too. But we are busy running toward a bus of manufacturing, that many countries are getting rid off
Yeah because a person who is a Congress party man and act as if he is not in party can only easoly decive people.
Bullshit
Hello first of all he is a congress party man. So there is a huge bias in his statement. People like you are just blind enough to think he is apolitical. Don't you know he is from Congress
I have a lot of respect for your channel. Why bring this individual? This person is hippocratic and not a pro-india individual. Why ask him anything? He is responsible to pushing manufacturing back by making trade non-viable with the rupee. He is a pro west individual and wants to peddle a incompetent India narrative. He should be held responsible for pushing India back, he is no better than the British
Ofcourse some of his points make sense that's why he's chosen by THEM (I don't know who) to advertise this defeatist mindset inside Indians that we are incompetent. Only self hating individual thinks like this.
Asking question stop dramabaji.
😂😂
All time big hypocrite on your show.
What credibility he has? What is his bio..A woke and broke from foreign funded and Maino sponsored. When you have substance you don't need patronage of politicians to get fame.
Rajan works for wall street jews!
and globalists such as Soros, rothchildes, etc.
Why this joker coming around the elections...
india dosent need US settled governor, he will work anti india and as per US directions, indians can understand better now, what is agenda of these rajan like US settled interfering in india RBI, go back hypocrities lke rajan go back dont do bak bak
Muh mast banata hai ran veer Tatiana aayi ho jaise
I don't want to waste a minute of mine on hearing this bullshit guest who is proved wrong every time. Why did you invite this nonsense? Came here just to write this comment and unlike video. Sorry Ranveer!
My thoughts, Indian intellectuals are leaving country because of three reasons 1) Poor working conditions 2) Government policies/poor judiciary system 3)less exposure and less salary, if we work on these points we can bring back our indian intellectuals and they can rebuild our country's growth. Five sectors are important for government focus 1) quality education at affordable cost 2) quality health care at affordable cost 3) improving our infrastructure rail, road, air and sea, 4) scope of improving our Manufacturing segment 5) creating more start-ups that service the world, not just our country. Create a environment where we bring out entrepreneur's from college's and universities, rather than producing job seekers into the market.
He talk so much rubbish. Learn to walk first.
This man Rajan is always busy spreading his own narrative and agenda!...he is not good to the country!.... therefore he should not be giving advices!
Example of apple he gave:
Apple like company should be made in india
And manufacturing should be outsourced
Why not both in our country,
We have talent and skills to create such things and cheaper labour too
About automobile:
Tata and mahindra cars are giving tough fight to korean and japnese brands
Yes they dont have global positioning like japs and koreans
But it will take time.
Tata and mahindra have wide spectrum of automobile manufacturing like cars, truck,tractors,buses etc.
To built premium category cars for tata and mahindra will take some time,but not much as they already have designer ventures in Euro.
Play your strength beyond your capabilities for growth
"You cant wish for both strong character and easy life,Price of each is other"
15:27 Just listen to ranveer previous podcast with Venky B,About indian diaspora he spoke reality which is as recent as today.
Clearly he is outdated in terms of knowledge
Conclusion: Dont fall for this guy, what he speaks is outdated.
This congress man will only find faults in every move by current govt. It is waste of listening to this kind of politically biased people