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Couptaji don't try to hide anything, we know about who r brown sepoys. 1 billion Indians, 17% global population will not leave them, hound them by hook or crook. India doesn't have any burden for climate. There r many countries in the world.
Obviously we cant beat China on manufacturing but from the UNDP report we have pulled about 40 cr Indians from poverty over 15 years. And that is with our broken manufacturing system. The laggard states are ones with high population and illiteracy , which means that we cant just expect services to rise there. We need some sort of manufacturing and blue collar jobs in these regions. Labour policy of India needs to be improved , this govt needs to grow a spine and pass it in parliament.
Exactly, 42% of our population is still employed in agricultiure, we need to pull them into manufacturing. Plus, its a golden opportunity to become a part of the supply chains gloabally. We are just slighlty ahead of countries like vietnam in world trade despite the fact that they are 10 times smaller than us in gdp. We need to increase our contribution in world trade
Who told you services is only for educated? Everything from watchman, to cook, to hotel staff, to beautician, to gardener, to barber, to computer repair etc are all services. We haven't pulled out anybody with manufacturing. Manufacturing remains low, and going down as % of GDP. India can never become a manufacturing power. Because of our land labor laws. And because we don't have the societal structure for it. Meanwhile smaller countries like Vietnam are talking all manufacturing jobs that are leaving China. Why isn't India able to take advantage? Despite a 'nationalist' govt who wants to make in India.
What if we gave more importance to manufacturing??the semiconductor chip crisis would've happened the same way coz the world believed smthng will happen a certain way and actual scenario was diff,no one could've stopped this
You are right but India have only 4% world's clean water... manufacturing requires a lot of water we can not waste our water for producing industrial products for other on the other hand China have 7% world's clean water with same population as India
Those 16 words aside. Why is this guy so hellbent on scuttling efforts to generate employment in India? Why is he hellbent on making India into a Philippines - A country with a permanent underclass that emigrates to take up low paying jobs abroad? What kind of classicism does he internalize within him to say something like India does not need industrial capacity to manufacture things? Or that poor do no deserve a shot at gainful employment?
@@anurag78670 Services maane tujhe paisa chahiye, paise ke bina tu qualify nahi ho sakta hai Services job ke liye. IT industry 135 crore log ko thodhi absorb kar sakta hai. 10 saal aur 25% per year growth ke bawajut IT industry barely 20 lakh ko kaam de sakha. Baki logon rozgar dena hai toh tujhe manufacturing, textiles, value added agriculture (packaged masala, paneer tikka masala etc.) chahiye. Ek manufacturing rozgar ke liye tujhe jyada qualification nahi chahiye. Dhung ka timely salary milta aur us rozgar mein tera upskill hona chance hai, usse 'gainful employment' kehte hai. Manufacturing nahi hai toh, baki jo bina rozgar baithe hai, unne permanently freebies dekhe rakna padega. Dosri baat, jinko rozgar nahi hai, un log chindi degree karid ke pardesi mein safai karmachari bante hai. In short, Manufacturing ke bina Bharat ke garib hamesha garib rahegi aur jin log ke pass pardes jaane ki paisa hai un log kush rahege. Isiliye jo Raghuram Rajan kah raha hai, woh bahut haanikarak hai.
1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way? 2. MODI govt is in power, and focused on manufacturing with 'make in India' push And we are ranked 107 in hunger index. 80% of the poverty increase during corona was in India. Who is keeping India poor? - Modi or Rajan? Why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who these people got another chance to blame and abuse? Here are some facts: Modi launched Make in India in September 2014. It has been 8 years. In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas. In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%. The lowest under congress was still higher than highest under this govt. Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
It’s a joke to suggest that all 140 crore people can get service industry jobs. A large economy needs to diversified, and a large population should not limit itself to one industry alone. As someone said “RR has predicted 6 out of the last 2 recessions accurately” 😂😂😂
Country should focus on their strength, because that will give u more power compare with other , service industry is still very small in India in Economic terms compare with other other countries,
You don't watch a clarification video also fully. It's the western nations, who don't want their manufacturing going from China to India. Which he says is not good for global economy. Listening skills are dead and we have more haters than intellectuals.
Only time he was right when predicted DOSA and IDLI prices and hogging lime light. So manufacturing of strategic products should be outsourced and one should only become service coolies of world
If India doesn't manufacture goods, somebody else will. And India will continue to import these items leading to a great import bill. The logic is flawed. USA & Europe have the highest per-capita emissions, and the sacrifice is expected from developing countries to limit manufacturing and energy use. This is climate injustice.
Kindly explain with proofs in which episodes he was critical and what exactly government has done. As a business owner, government support for manufacturing was almost Nil...
If it were a suggestion in good spirit, it shouldn't have started with "World can't let India". He could've simply said that we should prioritize services over manufacturing. Shekhar is simply covering up his friend's Naked Butt. We need manufacturing especially due to its ability to employ large numbers.
There is a difference between the world can't afford and world can't let. The former is what he said verbatim and that is what he meant that the world and its climate/environment can't afford that.
don't take him lightly. he is a US stooge. whatever he is saying reflect what US want for us. US want us to remain low income country and remain dependent on them.
@@Rabindra_ Yes, anyone we disagree with has to be a stooge for another country. Its not like in the history of mankind people have had a difference of opinion without being a puppet of someone else.
@Manish- To be honest, at world stage, nobody cares of India. RR is a patriot & so he has spoken about India due to his roots. Canada which is 1/30th of India in population makes half our GDP. 😂
That is exactly what’s being explained. You need to care about trade deficit.. not just import reduction.. that is better served by an export surplus, and it is not necessary that surplus has to come from manufacturing.. it could come from services.. services are 63% of global gdp
@@prajwalshetty9809 oh so you want us to keep on importing 100s billion dollar of items when we can build the same in india and export it too....if don't take advantage of this time then others will look at Vietnam.....why specifically India should not increase its manufacturing prowess
@@prajwalshetty9809 Services are built on manufacturing. India will be dependent on other countries and will remain weak if we don't manufacture things. Of course we don't need to manufacture everything. But key things like Semiconductor, IC, Chips, Mobiles & TVs, Defense, Solar Modules & Cells, API etc. Also India is not really gonna follow China's path because even if our manufacturing has increased it's not as much as china. Services specially IT sector still dominate our economy.
@@prajwalshetty9809 this kind of mentallity has kept us out of loop.... sorry agenda and hidden anger against India growth in industrial bas and merchandise export is quite clear...... services and manufacturing both has to grow
If enough employment is not created in India, then there would be tremendous amount if social unrest, especially amongst the younger Indians. Service Sector is extremely important, but this needs to be supplemented with Manufacturing Sector.
India needs both services and manufacturing especially the latter which can absorb semi skilled labour. Services cannot be the sole breadwinner for nation. Everyone is not good with computers, communication skills which is a requirement of services sector.
Even if everyone was good with computers or other soft skills needed for services, the sector isn't big enough to accommodate everyone. Nevertheless, I don't think he suggested a lock, stock, and barrel abandonment of manufacturing. However, he needs to understand that there are many other countries that already going the China way. Vietnam, Malaysia, Bangladesh, and even Pakistan are following or trying for a similar template. In fact, India has barely taken any steps to become a manufacturing behemoth.
@Hesh Abcd Service jobs will automatically increase with increase in manufacturing jobs. My point was we should focus on manufacturing and industrialisation. We are still a non industrialised country. Shame!!
Nobody is stopping you from manufacturing. In fact govt has been trying hard since 2014 (with make in India, various schemes, PLI), but no result. Why?
@@karankapoor2701 both are at par. But Raghuram has Green Card so he is a global citizen and can push India to margins anytime he wants to or his masters want to. Washington DC will protect him always. Nirmala has no where to go other than India. If India sinks so does she. Having said that she is a not good FM.
At times, the climate change debate can become QUIXOTIC and INSENSITIVE to stakeholders. As humans, we don't look for "equilibrium" but rather "Nash equilibrium". People cannot be treated like commodities. Not everyone is made for "services". It will also create an OVERSUPPLY in the Services market and hurt wages.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants. If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption). On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
Basically he is saying india should remain a consumer fr the world. And help his western masters and china gain wealth and jobs. And protect our environment. Why don't he first donate his house to plant trees
India needs manufacturing as much as India needs service to export , manufacturing is for low skilled workers and that is what India needs now to move loads of people from poverty
you mean low skilled workers will make Iphones and consumer electronics....these are high skilled workers who will make this things.....and whatever India has achieved in the last 75 years is from the services sector
@@arnabkundu114 manufacturing is not only about making iPhones and consumers electronics we have so many areas to work around and that’s where we need to focus, I don’t deny service is not required but we still have a lot of workforce that depends upon manufacturing
@@Deb_deCoder abe chutiya most manufacturing jobs which are high value manufacturing like in the automobile sector, pharma sector, consumer electronics, defence sector, drone manufacturing, which are high value which can bring a lot of dollars into the country like dollars flow in the country through the IT services sector need really high skilled well educated workers . even FMCG sector need educated skilled workers. Ke nirbodh seita bojhai jache
@@arnabkundu114 koekta bade jekono manufacturing industry te ektu kaj sekhalei besirvag manush sei kaj korte pare.. kintu service industry te Kaj korte gele min 5 yrs otar jnye lege thakte hy.. that's why in service industry employees are need to be very highly skilled.. bojha galo gordh*v
Frankly, SG has wasted an episode attempting to clarify views of an individual who doesn’t matter much in the context of a large nation like India. India can’t get better without manufacturing. At the same time it should not become a manufacturing dependent economy like China did. Nor can it ignore its agriculture to ensure food safety. It needs all three. Period!
SG sir, with all due respects to your pointers, I disagree with many Rajan's viewpoints. India needs to be more resilient at home, the benefits we get by forever importing high tech goods and exporting our valuable man power is not sustainable, globalization is not a magic pill that will solve the problems of developing countries. We should build maximum food security, and we should have enough manufacturing capabilities in long run.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants. If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption). On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
Globalization is already so deeply entrenched that you cannot support our population without it. We're way way way beyond the ability to choose globalization.
@@ThePrintIndia I too didn't find your arguments convincing. I haven't seen RR speech but saying India shouldn't manufacture because it will be bad for climate change is just bananas. Should the whole world just stop manufacturing and move to services? That would be perfect for the climate. Also not all manufacturing is of cheap products. If Turkey can make Bayrakhtar drones why not India? India will be stuck in the middle income trap without advanced manufacturing capabilities.
1. India needs manufacturing in a big way to find employment for its youth. So India has no other option. For RRR to suggest anything otherwise is obviously unacceptable for us. Strange that Shkhar has come out to defend this man. If India does not manufacture and if world requires it, some one else will produce, if not India. So in this sense, what RRR says is nonsense. India has pledged to be zero carbon by 2070 and it is working hard on this. India is anyway doing well in services anyway and will continue to do so, whether we have advice from RRR or not. 2. Advanced countries must share technology and funds with the South for it to achieve carbon neutrality. This obligation is always not talked enough.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants. If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American. On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
This is media house sold out to congress and leftists. Why are you surprised? Same people kept India poor for 60 years. British and congress policies are both responsible for Indias poverty.
The guys who criticize manufacturing shouldn't be using the same manufactured items, which in their sense caused harm to planet Earth in any part of the world. Doesn't matter India alone. Will they do it? Everything that is a necessity, luxury to mankind has damaged the environment in one way or other. Will they be willing to give it up. We have to worry about our planet, but when others don't do it, then why should we be holding back and achieve nothing??
I think the issue is not what Raghuraman is saying but the last part … “…even if it were open to it.”. Even if this is not the intention, it gives the impression that the world should prevent India from doing it and that is what most people will not like and I believe that is the primary reason for the negative reaction from Indians.
We should content with selling Chines goods . Let Vietnam ,Malaysia ,Indonesia and China etc do all the manufacturing and we only sell there products . He has problems with India manufacturing .So Govt do nothing and do servicing for other countries . He is enjoying in US but what about unemployed youths .
China's manufacturing is NOT all low quality. Chinese company's sell their highest quality products to the riches countries. Inversely, their cheaper, lower quality products go to developing nations. In the US, where I live, the reputation of Chinese products is high - of course in most products you can't even determine what percentage of components are Made In China. It's safe to assume that most of the components are Made In China.
Even after I hear the whole context, the things which he did not say are still true. Indirectly he is saying let China remain the manufacturing hub. Why not india take up both. Get services and manufacturing… he wants China to continue as the factory of the world , doesn’t matter if they allow true globalization where others benefit or not. This is a thing for which he needs to be called out for and is good if people are calling him out
OK, then please answer one thing for me: 1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way? 2. MODI govt is in power, and focused on manufacturing with 'make in India' push So why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who you got another chance to blame and abuse?
@@Learningram Modi launched Make in India in September 2014. It has been 8 years. In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas. In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%. The lowest under congress was still higher than highest under this govt. Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
@@mrgyani We have made a lot of progress you d1ck. We are manufacturing 1 billion phones, we have started the ground work for SC fab manufacturing as well. We are now proudly exporting defense equipment. India was beset with credit crunch, piling NPAs, etc. to be able to start manufacturing eight years ago. If you never touched manufacturing in 70 years, it cannot be kick started the next year. It takes time to build manufacturing, starting with logistics, infra development, etc. IDIOT!! Has no sense of what reality is, just keep blabbering....
don't take him lightly. he is a US stooge. whatever he is saying reflect what US want for us. US want us to remain low income country and remain dependent on them.
India ranked 115 out of 187 countries in per capita carbon footprint. China is responsible for 28% of Carbon emissions and India 7%. Hence India has lot of margin left to increase industrialisation. In that case China's contribution will decrease and the equilibrium will be maintained.This loby has other vested interests. Moreover who cares for RR speeches.We are eager to listen your wisdom on other more relevant issues.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants. If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption). On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
@@PK-tt5kk 1 sq kilometers produces 1 gw solar energy. Mh has 300000 sq km, if Maharashtra state allocates just 1 percent of the land, I.e. 3000 sq km for solar, it will produce 3000 gw of electricity. We would be in the leagues of US and China
@Suvesh Mukherjee - Grow up dude. We have so much Sun, Ocean & wind energy. We could have transitioned to renewable energy 40 years back. Please stop sling at West & help Ambanis the richest person in the world. India ranks 110 out of 124 country in poverty index. India ranks 129th out of 184 countries in per capita income (the standard of people life). There is nothing proud to be loser or be a beggar. Please Note - I have built a wind turbine for 10 lakhs in 2007 which generates 0.25 MW & is still Operational from 2007. Had I done this in a different country, my work would have been respected & grown further to add meaning to the society.
Services-led export works linearly with manpower. While it many look like a good opportunity for jobs, it will soon turn out to be inefficient. Manufacturing is definitely required. We can have environment-friendly manufacturing using Industry 4.0.
Interview with RaGa has confirmed everyone in India that RR is an intellectually dishonest person. Alll the points in his speech are mentioned by many economists earlier nothing new in that.
Sir, Raghuramji is World class Economist. However, he could not Control the Quantum of NPA created by Indian Banks. As a common man, this was the fair expectation from him.
I know climate change is an important topic. . Each and every country which is developed and also China haven't cared about climate change while they were on a path of development. They ignored everything and looked only for the development of their country and their people. But when the turn of India comes even some people who belong to India are also complaining about how Indians should live in poverty without developing for others to live well. Nice good thoughts. If such people will come to power then why do we need enemies?
So true we should reject these fakes and ngo we need development world can go in that path India's green energy is India's future trees can save us and all pollution can be curbed scientifically ...... it's our right we become manufacturing hub with iT tech hub with green energy etc.
The same people who want India to remain poor have no hesitation in migrating to a developed country, and being a part of the folks who are polluting the environment at a 100X rate.
@@SkpalTube They want India to remain poor so that they can make money through NGOs and all Big Bindi walis. Its poverty porn and poverty sale. RR is a crook and scam on the league of Nirav Modi Robert Vadra and Malya
I still don't see how his words are misinterpreted. As.per this cut the clutter also, Mr Rajan is saying focus on service not manufacturing like China. That too for the reason it's more environmentally damaging. Which is stupid. We don't need to become factory of the world like china, but we still need to boost manufacturing manifold. And of course services will keep up the growth path.
No we need to compete in manufacturing become manufacturing hub which areas can provide 250 million poor improve lifestyle of citizens IT hub as it's limitations in work force it's critical to grow and develop both and green energy is not option but only option
India's greatest resources are it's people and sunlight,if we could effectively use both we can be a economical power house. Hope by the end of this century our nation will be the most sought after destination for education ( from primary level to PHD level) and for medical treatment both preventive and cure
@@Madame702 lol its 2022 and US is becoming a joke by 2028 china wud takeover US and US dollar becoming toilet paper on its way its not unipolar world of 20th century but multipolar world
Chidambaram's chela the so called economist and NPA(scam) master should be wondering how India is achieving this growth? Under him as RBI governor this growth would have been impossible.
Absolutely right on the point of India doesn't need to follow China's path. India doesn't need to be manufacturing hub for the world. But it needs to be one which can provide jobs for the 700m youth. India just has tooo many young people who needs job. And only manufacturing can solve that.
And who exactly will buy the end product of these manufacturing setups if India is not going to compete China in its current share of world trade? How long then these employment last?
@@person1858 SG still is one of the best journalists. He has his biases and has no clue on how bad the mainstream media like WaPo, Nytimes, etc. are. He takes their word like a word of law.
9 mins and kuch samajh nahi aaya kya bolna chaahate hai aap. Please cut the clutter. Rajan made a very stupid one sided statement and Shekhar is trying to justify it. The arguments being made: If India go heavy on mfg it will contribute more to pollution and so it should go on carbon light service industry. Both, the expert and analyst totally ignored following info/arguments: 1. EV: Both says India is not rich in minerals required to make an EV-battery, and an EV will create lot of pollution. I agree with point on Cobalt-Li, but what about India adopting-evaluating multiple options: a. Green H2 b. EV batteries : IOCL-Phinery-AL-O2 battery, RIL-Faradion-Sodium-ion, RIL-LEP batteries, Nyobolt-Niobium oxide 2. India is moving fast on Renewable energy to reduce its carbon footprint: Solar, Hydro, Wind. What about this ? 3. 02-Aug-22 ET article on Bangladesh outshine India: where UN decided to remove from its list of least developed nations. Shekhar i think you also did a session on this, the argument made was that BD focused more on low skills job - textile making and bring mass of its population out of poverty, where as India focused on niche technology -service industry and could make fewer rich. a. Note Mfg is always bigger employment generator 4. What about nation security ? I just read an article on MC where the author says EU has loaned its security to USA, it was thriving on cheap energy form Russia and access to China market ? a. If India also depends on only Service for the sake of carbon footprint, how will it ensure its security? I expect both educated people RR, SG to give a overall pic while making such big statements rather than contextual scenario.
The initial thing he said is not refuted. India as a service economy will be a consumer economy which will not produce. It will also be dependent on externalities unlike in manufacturing where it can work on the domestic market too. This is BS.
China blocked alloy export for F-35s , that's just one example of a weaponizing manufacturing base. RR's idea can work in an ideal world but we don't live in an ideal world
No Aravind, you don't understand America allowed China to sell the alloy to them so the could make money. The US have the mines they don't really need China for the metals.
@@Madame702 just an example, you dont have to dwell deep into that. My point is we are not living in an ideal world & better to be at least somewhat self sufficient in manufacturing
@@aravindc102 No Aravind you will have some manufacturing but now that Globalization is collapsing don't expect to make the kind of money that China made. India also never participated in the American Globalization so don't expect India to do so now. Even now India doesn't want South Korea and Canada to join the Quad. So India is very anti Globalization.
@@Madame702 It's not about making money by exports but to rather reduce import dependence which is huge . Also, South Korea in quad has nothing to do with globalization which primarily pertains to Economics whereas Quad is a quasi military alliance
SG sir, weather world likes or not, we have to do what's best for our own people. Bringing our poor out of poverty should be the goal one to 100, in max possible environment friendly way. Irrespective of how globalized that plan is or not.
It's not a good argument. Rather it is a joke. We have missed the industrial revolution and so we don't have the required percentage of manufacturing as per the economics.this is a opportunity which is provided where we should increase the percentage of manufacturing sector in our GDP to get going. I think SG need to keep out of the areas where is not strong. This is a wrong direction given by SG
A diversified economy makes far more sense than reliance on just one industry like services. India is also transitioning to renewable sources of energy, so why is RR concerned about the climate change angle vis-a-vie India?
It appears both are blabbering... SG is good for covering Pak and Raghuram is good for the world of old colonial power structure. Guys read the recent opinions of George Soros on Russia Ukraine war.
He is a Left liberal journalist who after 2014 changed a bit and started "considering" the pov of non-left, he is not neutral,its just that he tolerates non-left as they are in power. Before 2014 he was in bed with khan mkt gang and won't even listen to non-left.
Senseless argument & an episode on it. If the global south (India atleast) is such populous and can just service sector offer employment? Service sector is more volatile compared to manufacturing. One can easily shift to another country for services but shifting to another for commodities takes decades.
We should not limit our economic decision to just academia. We should do whatever it takes to pull out our huge human resources out of poverty by keeping in consideration of the environmental impact. We just have to maintain the equilibrium.
Sekhar ji, Raghuram's comment on India services led growth is misplaced, I believe that India has to be manufacturing-based and then only it will achieve the kind of growth it's aspiring for. Remote Services need people interaction, it has a major language barrier, that's why you will see India only exports services to English speaking countries. India cannot start services exports to non-English, speaking countries so effectively if we don't move to manufacturing of tangible goods, we will never achieve employment for the masses. In services opportunity lies at inbound heath care (medical tourism) to south asia and African markets . These are big employment, generators given our low cost . (For every bed a hospital needs 4 direct staff.)
No Saha, you cannot be a manufacturing power, because one it is to expense to move things by Road. You would need to use the sea or have good rivers to make it very inexpensive to move things from place to place.
@@Badbadderbaddest Yes, let look at the supply chain to make your "Smart Phone" shall we Saha S. It took supply chains from a 150 countries to make your "Smart Phone" Saha S. And four different Asian countries with the right labor pricing to make it so affordable.
@@Badbadderbaddest Also the micro-chip in your laptop 85% of all "Silicon" used to make micro-chips comes from one mine in North Carolina, that in United States of America. So China or India cannot become a micro-chip manufacturing without the blessing of the United States.
The economists like Raghuram Rajan with their ideas are killing the countries like India, their ideas are good for them to get Nobel prize but in real world these ideas are shit, service industry needs lot of skilled workers and in India Indians are not that skilled on the other hand if we do skill all the ppl, most of the service industry depends on the economy of how western countries economy do cause most of the service we provide and our revenue depends on the western countries economy. With our given population the only way to move forward is creating more manufacturing jobs, this is where our country lags in providing proper infrastructure and establishing proper system to cater these industries. With the given fact that we have large population and we need to be independent to cater the needs of people by creating our manufacturing industries. Climate change n all are good for these ppl to make statement in international forums but in reality they are devastating for the country like India
if all of us switch to EVs, we will consume all the rare earth minerals in 1.5 generations, let that sink in. Even though some of drive only 10K KM a year, we will all consume same lithium in a year. And no way to recycle the batteries, cars, solar panels, wind turbines, just no way.
SG, Pl do an episode on whether the experts should give lectures on just one aspect of any problem such as climate change. What happens if what is good for climate change is bad for Indian economy? What do we do with such advice? Incidentally not clear how if India replaces Chinese manufacturing it will be bad for climate change.
The majority of the population has an IQ of a factory floor worker. We need large scale manufacturing to provide jobs for them. Not everyone can sustain themselves in a service economy. The service economy is customer driven. If people don't have money to buy then who will they sell it to.
Didn't need a CTC to defend him because nobody misunderstood his altruistic thoughts. But what people are saying is he opposes manufacturing inside the room, then he will come out and rue jobless growth. His hypocrisy.... in short.
how is climate change affected if something is manufactured in China India or South East Asia? It's all the same from the perspective of climate change. so we need to snatch manufacturing from China before others in South east asia.
true but we can't just rely on service or manufacturing we need to start developing advanced industries so that in next 20 or 30 years we can have something more to offer and sell on world market. Like britain gave industrial revolution , america gave computer and internet revolution , china has a strong AI, macine learning expertise and capacity to build fast and world class infrastructure. we to need to invest highly in our universities and research and development we can't compete only on our human resourse in the coming future we need to compete on technology and expertise.
I mostly agree on what Shekhar Gupta says, however if environment was the only concern, why can’t we talk Nuclear? Even for running computers you need to burn Coal for generating electricity. People will say you can do it with renewables. But the kind of population we have, it’s hard to match using Renewables. One also has to be cognizant about the fact that Manufacturing is strategically important for us. Take for example Vande Bharat Express or Train 18, these are the kind of projects will not just shape our country but also medium and small economies in Africa, South East Asia and even some of the developed nations. They don’t have good enough railways. Our proposition is cost, within $20 million you can get one train. If some central african republic or south east asian country doesn’t have good enough railways and has a nominal GDP say $50 billion. By spending merely $300 to $400million you can get good quality railways which runs at a speed of 180kmph. Which is more than enough to add into their productivity. Take for example Armenia, they started deals with us by buying crucial defence equipment which costs way less compared to any other exporter. Now defence, tomorrow Railways, may be 5G. Same goes even for most North African countries. You can’t have so much migration. If there is any country that can give cost effective, production surplus, export led manufacturing, it’s India. RR made a point about the environment, however not suitable for Indian context. Atleast, developing and developed nations can talk nuclear, because it is expensive, environmentally safe and enabler for new growth engine. People forget the amount of energy is required to run full blast 5G and 6 G services. What will you do in that case? Will you burn more coal??
*3 takeaways from this video:* 1. Shekhar Gupta hates nationalists to the core. In this entire video, he keeps dissing at them, mocking/taunting them. Proponent of coup theory taunting lecturing others about facts, is the biggest joke of the century. This guy has been wrong about all of his political assessments so far (from coup to Modi's ascent) but still lectures others with full confidence. 2. After spending the entire video desperately trying to spin Raghuram Rajan's words, he says that I am not trying to defend anyone. The main problem with Raghuram's comment is that India is targeting to become a major exporter in manufactured goods. India is hoping to do this with the help of foreign investments. Raghuram Rajan is making a direct call to the world for not investing in Indian manufacturing sector. India is already a major player in services, so his comments on services as a consolation prize are of no real use. They are just done as a garb to give opportunity to dalaals in the media to try and present his comment as more balanced. 3. Never support this toxic propaganda channel.
Exactly. This is one of the reasons why I am not willing to take subscription. What's the point of making a 20+ apology for an erstwhile RBI governor who the elected govt deemed unfit for his post. And I am glad Raghuram Ranjan was shown the door. We don't need him. Gosh! He'll drown the country.
Sir, I admire your style of presenting a lot. I like it because you use common sense and logic to explain things, which for some reason is a rare occurrence in media today. No bias, no attempt to cater to anyone's likes or dislikes, just pure facts. That's what journalism should be about. Wish I could work with you.
Yeah i would agree with you debate standards have gotten low but earlier only a select few would debate now everyone can and i like to believe slowly standards will also improve
Thanks Sekharji for the episode. But, one thing it bothers me is manufacturing of goods is a necessity.whether it is manufactured in China or in India or any other country, carbon emissions and climate impact is going to be the same irrespective of the country of manufacturer. Further, there are many services which are associated with manufacturing. If we do not have manufacturing, we are going to miss out on those services as well. Also, post Covid and post Russia Ukrain war, the need for being self sufficient in certain sectors like Defence has become very essential for a large country like India. Hence, India has no other option but to go in a big way for manufacturing.
Actually, if India is producing lots of manufactured goods that would otherwise be imported, that would tend to reduce overall greenhouse gas emissions, because you wouldn't be transporting those manufactured goods around the world to get to India. Now, it may be that another nation produce items much more efficiently (with much less greenhouse gas emission/item) than India. In that case the boost in efficiency may offset the emissions from transporting those goods to India.
I don't understand the debate of deglobalization when supply chains of a single product is distributed across countries. Also I would want India to have its own manufacturing first rather services as it provides jobs, jobs which our rural agricultural workers could do easily and understand too and earn better income from farming. I would not want Indians to burn and destroy their TV sets or other products which are manufactured in China. Services are important too but they are the third stage. We have this JOBLESS growth because our services sector are far better developed than manufacturing. So just because of CLIMATE CHANGE we should not let the people of our country suffer.
1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way? 2. MODI govt is in power, and focused on manufacturing with 'make in India' push So why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who these people got another chance to blame and abuse? Here are some facts: Modi launched Make in India in September 2014. It has been 8 years. In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas. In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%. The lowest under congress was still higher than highest under this govt. Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
@@mrgyani it is not about Modi or congress. The reforms which were taken in 1991 were mostly in services sector. We as a country have focused thoroughly on it. And don't look at the smaller picture. GDP gives you value, services sector will always remain high because the product created are of higher value than manufacturing. Manufacturing has grown throughout the years since independence. And for the Congress vs Modi debate I personally don't hold congress in high regards. They are just self serving masters, they did not make a single worthwhile plan to revive manufacturing in their ten years, At least this government took the initiative of make in India which has started showing some progress Increasing manufacturing is not easy, and we cannot rely on foreign firms to set up their manufacturing plants here, if India has to increase its manufacturing its people have to take those initiatives.
If India makes things that China makes , the "WORLD" wont say ""NO , THIS IS INDIA . I CANT AFFORD INDIA MAKING THINGS FOR ME" !!! By the way does Print draw on facts always ? You just missed a fact here too when you referred to Chinese manufacturing as mostly low cost and low quality . I am sure you are aware that China makes apple phones - the world best brand and thousands of other top class brands for the world . India's services on the other hand have mostly been at low end because what we give is generic non IP based . So there is a case - a very strong case -- a very very strong case for Indian to be the next China. If we have to find jobs , we have to make things in India - from condoms, bikinis, and sex toys to lasers, superconductors, semiconductors, and nuclear reactors to steel, cement, automobiles, and trains. Every damn think ! For an economist to say the world can't afford another China is dumb. The world is not an "entity". It does not decide nor does it think which country should make what. People need things and they buy from countries that make them. The world buys from China because China makes for them.
You sermonised for 25mnts but failed to integrate India’s need for manufacturing independence as a strategic need and then critique RR. This kind of disjointed timing done in isolation of the reality is wishful thinking.
Reminds me 2013 quote by Mr Modi when he was asked about Gujarat riots and he said `if a puppy comes under the wheels of your car, you would feel sad`. And then amount of havoc created by the Indian media was a news riot. So, our media is doing it for a while. Coming back to to Mr Rajan’s comment, we are yet to arrive on a same page on nuclear issue, climate change is a far cry.
What people say about Rajan is perfectly correct - He knows very little about India and it's economy. He presided over the banking scam by not implementing NPA norms... This chap thinks he is a genius and keeps commenting on any and every subject. Latest is his advising India to concentrate on services sector and desist from focussing on Manufacturing. This man thinks that if India focussed on Manufacturing ,it will lose out on Services sector. This clearly shows his ignorance of the Service sector and Manufacturing sectors so also the talent pool in India. What this mahagysni doesn't know is that the skills required for service sector and Manufacturing sector are quite different and India has the talent pool to handle both sectors simultaneously.. He is also a stooge of Congress party .. Why do you bring such pundits on to your show ?
Looks like even the librus and their master have accepted that Modi is slowing but steadily turning India into a manufacturing hub and thus this desperation. Shows how much credibility Jumla party scamgress itself had by having such a person as rbi chief.
Kaunsa manufacturing hub bhai,Make in India ki bakwaas karne se kuch nahi hota...... Unemployment badh kaise rhaa hai agar manufacturing badh rahi hai?
@@akshayagrawal5114 Now WhatsApp enthusiasts knows more than experts. Smartphone, electronics, cars, motorcycles, textiles, iron, steel, Pharma etc are being manufactured at record pace in India. India recently overtook Vietnam as second largest phone manufacturer and with PLI scheme it's gonna get even more. So keep your eyes closed but it won't change facts.
If you are really looking for "fact based" debate then view the IMP speech of RR together with his recent essays and media articles criticizing PLI [ where he used totally flaky but different arguments ] ... Sad to see the levels to which people like RR are willing to stoop to try and stay relevant
When agendas and ideologies take precedence over rationality, even the best are not left unsullied. SG wants to believe in the righteousness of RR, but the plain fact is even after reading the entire speech, there's no justification as to why shouldn't India industrialise. If he is really pure at heart then he's a bad economist. And if he's a good economist, he's definitely not being honest.
No abhinav dwivedi, it isn't that India shouldn't industrialize. That is the wrong question. The question is can India industrialize? So look at the countries around the world to answer that question.
So "Geography" determines what you can and can't do. If your country has good farmland it has a lot babies so it has a big population. If you country has oil and natural gas lots of minerals it can industrialize. But you see India doesn't have a lot of oil, coal, and natural gas. It doesn't have rivers that allow for cheap transportation of goods. So it very expense to move products by road.
Rivers to help move products. Roads so expensive to move products that it was cheaper for the British to have a suit made in England and transport to India than it was to move 100 tons of grain 70 miles in India.
@@meow14115 Ok, please but just understand you have been trying to be a manufacturing country since Nehru was Prime Minister. It hasn't really worked has it.
Service sector serves other departments. If you don't increase manufacturing and other sectors, how can service sector grow after certain level? I don't agree at all with his views.
Your not going to be able increase your manufacturing Pankaj, you cannot enter into the American market. Americans will not allow you to become the next China.
@@Madame702 America is important. But America is not the only important when you are in a time where whole new markets are opening and developing. Secondly, not everything is easy to manufacture by a country by keeping all parameters like cost, quality, time etc in check. Hence, you need other partners like India.
@@pankkaj.sharrma You see the deal that America made with China was that they offshored their manufacturing to China, America then invested in China to build factories and the sent the products back to America that is how China got rich.
@@pankkaj.sharrma But Pankaj Sharma that deal is not on table for India. America will not open it markets to you it will not spend to build factories in India. It will not give you it technology why? Because America wanted to split China away from Soviet Union.
Even with the context the outrage is justified As this proposition assume a perfect globalized world which far from reality. PS why all the experts at global stage tend to say exactly opposite of what back in home policy makers do.
We've increased defence exports by 300+% since 2015. Brought 40cr people out of poverty in the last 15 years. Our exports are at an all time high thanks to make in India. We have produced unicorns by scores thanks to start up India. We're the 5th largest economy now. The investments under PLI scheme will do wonders in the decade to come. That's not it, we are currently constructing national infra projects like dedicated freight corridors, Delhi-Mumbai industrial corridor, rapid rail transit, making expressways at a record speed everyday. The point with people like Rajan is that their words hold sway over the international community. They can malign India's image and undermine all the progress that we've made in order to further their leftist propaganda and serve their paymasters.
Problem with R Rajan is that he has lost credibility. Once you lose that, the public will draw their own conclusions thus opening up the field for his opponents to take advantage. So how ever you might try, it is not going to help. It is a poor attempt at communication for a lost cause Mr. Gupta. You wasted your episode I am sorry to say!
Mr. Raghuram Rajan is one of the advisors to the Tamilnadu Government since May 2021 - I have not seen any change - except that the present state government has increased the electricity charges and Property Tax by more than 100%. The Present TN Government is also deep in debt and is dependent upon the income from sale of liquor which the leaders of present dispensation promised to abolish once they are in power. We need more light on this!
I think What Mr.Rajan tried to say was that "Manufacturing sector alone isn't the panacea for all the problems of India and manufacturing sector is needed to grow to cater Indian demands but not in the hope of becoming another china." He also has a point.
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Couptaji don't try to hide anything, we know about who r brown sepoys. 1 billion Indians, 17% global population will not leave them, hound them by hook or crook. India doesn't have any burden for climate. There r many countries in the world.
There is a factual error in this video. There is no reference to bicycle in Raghuram Rajan's book "Saving capitalism from capitalists"
Obviously we cant beat China on manufacturing but from the UNDP report we have pulled about 40 cr Indians from poverty over 15 years. And that is with our broken manufacturing system. The laggard states are ones with high population and illiteracy , which means that we cant just expect services to rise there. We need some sort of manufacturing and blue collar jobs in these regions. Labour policy of India needs to be improved , this govt needs to grow a spine and pass it in parliament.
Exactly, 42% of our population is still employed in agricultiure, we need to pull them into manufacturing. Plus, its a golden opportunity to become a part of the supply chains gloabally. We are just slighlty ahead of countries like vietnam in world trade despite the fact that they are 10 times smaller than us in gdp. We need to increase our contribution in world trade
Absolutely true
Agree with you absolutely
Blue collar is needed everywhere
Who told you services is only for educated? Everything from watchman, to cook, to hotel staff, to beautician, to gardener, to barber, to computer repair etc are all services.
We haven't pulled out anybody with manufacturing. Manufacturing remains low, and going down as % of GDP.
India can never become a manufacturing power. Because of our land labor laws. And because we don't have the societal structure for it.
Meanwhile smaller countries like Vietnam are talking all manufacturing jobs that are leaving China. Why isn't India able to take advantage? Despite a 'nationalist' govt who wants to make in India.
Recently semiconductor chip crisis has taught us an important lesson of importance of manufacturing
What if we gave more importance to manufacturing??the semiconductor chip crisis would've happened the same way coz the world believed smthng will happen a certain way and actual scenario was diff,no one could've stopped this
You are right but India have only 4% world's clean water... manufacturing requires a lot of water we can not waste our water for producing industrial products for other on the other hand China have 7% world's clean water with same population as India
Those 16 words aside.
Why is this guy so hellbent on scuttling efforts to generate employment in India? Why is he hellbent on making India into a Philippines - A country with a permanent underclass that emigrates to take up low paying jobs abroad? What kind of classicism does he internalize within him to say something like India does not need industrial capacity to manufacture things? Or that poor do no deserve a shot at gainful employment?
bhai thoda heavy ho gaya kuch smj nhi aaya
When agendas and ideologies take precedence over rationality, even the best are not left unsullied.
@@anurag78670 Services maane tujhe paisa chahiye, paise ke bina tu qualify nahi ho sakta hai Services job ke liye. IT industry 135 crore log ko thodhi absorb kar sakta hai. 10 saal aur 25% per year growth ke bawajut IT industry barely 20 lakh ko kaam de sakha. Baki logon rozgar dena hai toh tujhe manufacturing, textiles, value added agriculture (packaged masala, paneer tikka masala etc.) chahiye. Ek manufacturing rozgar ke liye tujhe jyada qualification nahi chahiye. Dhung ka timely salary milta aur us rozgar mein tera upskill hona chance hai, usse 'gainful employment' kehte hai.
Manufacturing nahi hai toh, baki jo bina rozgar baithe hai, unne permanently freebies dekhe rakna padega. Dosri baat, jinko rozgar nahi hai, un log chindi degree karid ke pardesi mein safai karmachari bante hai.
In short, Manufacturing ke bina Bharat ke garib hamesha garib rahegi aur jin log ke pass pardes jaane ki paisa hai un log kush rahege.
Isiliye jo Raghuram Rajan kah raha hai, woh bahut haanikarak hai.
Because RRR like Shekhar Gupta is working for US interest not us. US want us to remain low income County so remian dependent on the.
1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way?
2. MODI govt is in power, and focused on manufacturing with 'make in India' push
And we are ranked 107 in hunger index. 80% of the poverty increase during corona was in India.
Who is keeping India poor? - Modi or Rajan?
Why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who these people got another chance to blame and abuse?
Here are some facts:
Modi launched Make in India in September 2014. It has been 8 years.
In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas.
In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%.
The lowest under congress was still higher than highest under this govt.
Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
It’s a joke to suggest that all 140 crore people can get service industry jobs. A large economy needs to diversified, and a large population should not limit itself to one industry alone. As someone said “RR has predicted 6 out of the last 2 recessions accurately” 😂😂😂
never in the entire video he suggested to give all 140 crore people service job
Ever since he was kicked out, he has been on a rout to predict doomsday!
Country should focus on their strength, because that will give u more power compare with other , service industry is still very small in India in Economic terms compare with other other countries,
So you're joining the party of "let's open our mouths without reading/watching donkeys"
You don't watch a clarification video also fully. It's the western nations, who don't want their manufacturing going from China to India. Which he says is not good for global economy. Listening skills are dead and we have more haters than intellectuals.
Raghuram Rajan might be a Pundit or an expert but definitely not a Professional. His ideology comes in the way of his economics.
He is a brown sepoy. He knows he is lying but he is propagating western country's interest in keeping India low income country and dependent
Lol the irony..
Only time he was right when predicted DOSA and IDLI prices and hogging lime light.
So manufacturing of strategic products should be outsourced and one should only become service coolies of world
He is Congress man through and through. And wants to derail Indias growth.
Jai Hinduja. Just now to your superior US Raj.
If India doesn't manufacture goods, somebody else will. And India will continue to import these items leading to a great import bill. The logic is flawed. USA & Europe have the highest per-capita emissions, and the sacrifice is expected from developing countries to limit manufacturing and energy use. This is climate injustice.
Raghuram rajan is a cia agent
He was so critical of Indian government policies during the pandemic. We would have been in deep trouble if we followed his advice.
Kindly explain with proofs in which episodes he was critical and what exactly government has done. As a business owner, government support for manufacturing was almost Nil...
@@abhiwins123
The guy's probably talking about Raghuram Rajan, and by your response it looks like you're speaking about Shekhar.
@@ayush885 yep, was thinking about Shekar
Did anyone ask his opinion?
And they'd have given the nobel piss prize
If it were a suggestion in good spirit, it shouldn't have started with "World can't let India".
He could've simply said that we should prioritize services over manufacturing.
Shekhar is simply covering up his friend's Naked Butt.
We need manufacturing especially due to its ability to employ large numbers.
There is a difference between the world can't afford and world can't let. The former is what he said verbatim and that is what he meant that the world and its climate/environment can't afford that.
don't take him lightly.
he is a US stooge. whatever he is saying reflect what US want for us. US want us to remain low income country and remain dependent on them.
Why can't he ? He has given similar lectures to the west too - on interest rates etc.
@@Rabindra_ Yes, anyone we disagree with has to be a stooge for another country. Its not like in the history of mankind people have had a difference of opinion without being a puppet of someone else.
@Manish- To be honest, at world stage, nobody cares of India. RR is a patriot & so he has spoken about India due to his roots. Canada which is 1/30th of India in population makes half our GDP. 😂
How our import bills will come down if we don't excel in manufacturing
That is exactly what’s being explained. You need to care about trade deficit.. not just import reduction.. that is better served by an export surplus, and it is not necessary that surplus has to come from manufacturing.. it could come from services.. services are 63% of global gdp
@@prajwalshetty9809 services are for skilled and educated labour. Cannot be the only arrow in our arsenal
@@prajwalshetty9809 oh so you want us to keep on importing 100s billion dollar of items when we can build the same in india and export it too....if don't take advantage of this time then others will look at Vietnam.....why specifically India should not increase its manufacturing prowess
@@prajwalshetty9809 Services are built on manufacturing. India will be dependent on other countries and will remain weak if we don't manufacture things. Of course we don't need to manufacture everything. But key things like Semiconductor, IC, Chips, Mobiles & TVs, Defense, Solar Modules & Cells, API etc. Also India is not really gonna follow China's path because even if our manufacturing has increased it's not as much as china. Services specially IT sector still dominate our economy.
@@prajwalshetty9809 this kind of mentallity has kept us out of loop.... sorry agenda and hidden anger against India growth in industrial bas and merchandise export is quite clear...... services and manufacturing both has to grow
If enough employment is not created in India, then there would be tremendous amount if social unrest, especially amongst the younger Indians. Service Sector is extremely important, but this needs to be supplemented with Manufacturing Sector.
Ballance is important. But producing crap is not sustainable.
And without services not much you can produce
India needs both services and manufacturing especially the latter which can absorb semi skilled labour. Services cannot be the sole breadwinner for nation. Everyone is not good with computers, communication skills which is a requirement of services sector.
No we need more manufacturing jobs. we already have enough service sector jobs.
Even if everyone was good with computers or other soft skills needed for services, the sector isn't big enough to accommodate everyone. Nevertheless, I don't think he suggested a lock, stock, and barrel abandonment of manufacturing. However, he needs to understand that there are many other countries that already going the China way. Vietnam, Malaysia, Bangladesh, and even Pakistan are following or trying for a similar template. In fact, India has barely taken any steps to become a manufacturing behemoth.
@Hesh Abcd Service jobs will automatically increase with increase in manufacturing jobs.
My point was we should focus on manufacturing and industrialisation. We are still a non industrialised country. Shame!!
service sector is not independent of primary and manufacturing sector. both provide a base for service sector in the economy
Nobody is stopping you from manufacturing. In fact govt has been trying hard since 2014 (with make in India, various schemes, PLI), but no result. Why?
How this type of person was appointed to such a top post in India .
Only God can have saved India .
Haan tumhe rakhna chahiye tha !
Poor RR, his 30 minute speech needed another 30 minute defense from a public relations pro😂
And still people know that the idea of only doing services is a joke.
Essentially RR wants India to become a Kerala and fulfill the British vision of a clerical class spread across all Indians.
Finally Raghu Ram is showing what sort of economist he is. 🤣🤣🤣
Better than the current joke of a FM we have rn
@@karankapoor2701 both are at par. But Raghuram has Green Card so he is a global citizen and can push India to margins anytime he wants to or his masters want to. Washington DC will protect him always.
Nirmala has no where to go other than India. If India sinks so does she. Having said that she is a not good FM.
Raghu Ram is a US asset not an Indian asset.
@@karankapoor2701 Better than you fool.
Raghu sounds more like an environmental activist than an economist
At times, the climate change debate can become QUIXOTIC and INSENSITIVE to stakeholders. As humans, we don't look for "equilibrium" but rather "Nash equilibrium". People cannot be treated like commodities. Not everyone is made for "services". It will also create an OVERSUPPLY in the Services market and hurt wages.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants.
If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption).
On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
Sir can you elaborate on Nash equilibrium,not able to follow
@@sarojpandey1026 could you clarify what's 'Nash'
Thank you for watching ThePrint's channel, Sankalp. Do head to our website for the quickest updates & some fine insights from experts- Shekhar
@@srinivasanr1565 nash equilibrium is about how 2 conflicting parties can benefit equally without changing their initial condition.
Basically he is saying india should remain a consumer fr the world. And help his western masters and china gain wealth and jobs. And protect our environment.
Why don't he first donate his house to plant trees
Services are more value adding
Manufacturing needs the support of government policies while services grows on its own through the private sector
India needs manufacturing as much as India needs service to export , manufacturing is for low skilled workers and that is what India needs now to move loads of people from poverty
you mean low skilled workers will make Iphones and consumer electronics....these are high skilled workers who will make this things.....and whatever India has achieved in the last 75 years is from the services sector
@@arnabkundu114 manufacturing is not only about making iPhones and consumers electronics we have so many areas to work around and that’s where we need to focus, I don’t deny service is not required but we still have a lot of workforce that depends upon manufacturing
@@arnabkundu114 Sal* bangali hye eto nirbodh ! Sudhu iPhone ar electronics niye manufacturing sector !!
@@Deb_deCoder abe chutiya most manufacturing jobs which are high value manufacturing like in the automobile sector, pharma sector, consumer electronics, defence sector, drone manufacturing, which are high value which can bring a lot of dollars into the country like dollars flow in the country through the IT services sector need really high skilled well educated workers . even FMCG sector need educated skilled workers. Ke nirbodh seita bojhai jache
@@arnabkundu114 koekta bade jekono manufacturing industry te ektu kaj sekhalei besirvag manush sei kaj korte pare.. kintu service industry te Kaj korte gele min 5 yrs otar jnye lege thakte hy.. that's why in service industry employees are need to be very highly skilled.. bojha galo gordh*v
Frankly, SG has wasted an episode attempting to clarify views of an individual who doesn’t matter much in the context of a large nation like India. India can’t get better without manufacturing. At the same time it should not become a manufacturing dependent economy like China did. Nor can it ignore its agriculture to ensure food safety. It needs all three. Period!
SG sir, with all due respects to your pointers, I disagree with many Rajan's viewpoints. India needs to be more resilient at home, the benefits we get by forever importing high tech goods and exporting our valuable man power is not sustainable, globalization is not a magic pill that will solve the problems of developing countries. We should build maximum food security, and we should have enough manufacturing capabilities in long run.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants.
If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption).
On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
Globalization is already so deeply entrenched that you cannot support our population without it. We're way way way beyond the ability to choose globalization.
Dear Suneel, SG is dulla , Sir is a misnomer for him
Dear Suneel, thank you for your response. I respect different opinions and viewpoints. Have a great day! - Shekhar
@@ThePrintIndia I too didn't find your arguments convincing. I haven't seen RR speech but saying India shouldn't manufacture because it will be bad for climate change is just bananas. Should the whole world just stop manufacturing and move to services? That would be perfect for the climate. Also not all manufacturing is of cheap products. If Turkey can make Bayrakhtar drones why not India? India will be stuck in the middle income trap without advanced manufacturing capabilities.
1. India needs manufacturing in a big way to find employment for its youth. So India has no other option. For RRR to suggest anything otherwise is obviously unacceptable for us. Strange that Shkhar has come out to defend this man. If India does not manufacture and if world requires it, some one else will produce, if not India. So in this sense, what RRR says is nonsense. India has pledged to be zero carbon by 2070 and it is working hard on this. India is anyway doing well in services anyway and will continue to do so, whether we have advice from RRR or not. 2. Advanced countries must share technology and funds with the South for it to achieve carbon neutrality. This obligation is always not talked enough.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants.
If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American.
On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
@@PK-tt5kk Bhai, we got your message about Solar energy. Can you please stop copy pasting it everywhere and spamming the page?
@@PK-tt5kk now come out of ur dream
This is media house sold out to congress and leftists. Why are you surprised? Same people kept India poor for 60 years. British and congress policies are both responsible for Indias poverty.
@@PK-tt5kk very true 👍solar is a good alternative.. like they use it in desert of Las Vegas
The guys who criticize manufacturing shouldn't be using the same manufactured items, which in their sense caused harm to planet Earth in any part of the world. Doesn't matter India alone. Will they do it? Everything that is a necessity, luxury to mankind has damaged the environment in one way or other. Will they be willing to give it up. We have to worry about our planet, but when others don't do it, then why should we be holding back and achieve nothing??
I think the issue is not what Raghuraman is saying but the last part … “…even if it were open to it.”. Even if this is not the intention, it gives the impression that the world should prevent India from doing it and that is what most people will not like and I believe that is the primary reason for the negative reaction from Indians.
We should content with selling Chines goods . Let Vietnam ,Malaysia ,Indonesia and China etc do all the manufacturing and we only sell there products . He has problems with India manufacturing .So Govt do nothing and do servicing for other countries .
He is enjoying in US but what about unemployed youths .
China's manufacturing is NOT all low quality. Chinese company's sell their highest quality products to the riches countries. Inversely, their cheaper, lower quality products go to developing nations. In the US, where I live, the reputation of Chinese products is high - of course in most products you can't even determine what percentage of components are Made In China. It's safe to assume that most of the components are Made In China.
Even after I hear the whole context, the things which he did not say are still true. Indirectly he is saying let China remain the manufacturing hub. Why not india take up both. Get services and manufacturing… he wants China to continue as the factory of the world , doesn’t matter if they allow true globalization where others benefit or not. This is a thing for which he needs to be called out for and is good if people are calling him out
He is a CCP agent. Simple. No need to listen to his nonsense. SG wants to put perfume over RR's smelly hide.
His predictions are just like blind arrows
OK, then please answer one thing for me:
1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way?
2. MODI govt is in power, and focused on manufacturing with 'make in India' push
So why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who you got another chance to blame and abuse?
@@Learningram Modi launched Make in India in September 2014. It has been 8 years.
In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas.
In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%.
The lowest under congress was still higher than highest under this govt.
Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
@@mrgyani We have made a lot of progress you d1ck. We are manufacturing 1 billion phones, we have started the ground work for SC fab manufacturing as well. We are now proudly exporting defense equipment. India was beset with credit crunch, piling NPAs, etc. to be able to start manufacturing eight years ago. If you never touched manufacturing in 70 years, it cannot be kick started the next year. It takes time to build manufacturing, starting with logistics, infra development, etc. IDIOT!! Has no sense of what reality is, just keep blabbering....
I don't know why but Raghuram Rajan is 60% economist and 40% politician.
I love how these ppl save eachothers back .. when is the last time SG made a video to save some one from back clash .. more of a PR video
don't take him lightly.
he is a US stooge. whatever he is saying reflect what US want for us. US want us to remain low income country and remain dependent on them.
where will you sell services, if there are not traditional manufacturing jobs
India ranked 115 out of 187 countries in per capita carbon footprint. China is responsible for 28% of Carbon emissions and India 7%. Hence India has lot of margin left to increase industrialisation. In that case China's contribution will decrease and the equilibrium will be maintained.This loby has other vested interests. Moreover who cares for RR speeches.We are eager to listen your wisdom on other more relevant issues.
All this doesnt matter. Today solar energy is the cheapest way to generate electricity & within this decade solar panels + batter storage/green hydrogen will be cheaper than even coal power plants.
If we cover just 1/3 of Rajasthan with solar panels, we will have enough electricity that every Indian can live like an American (i.e. same energy consumption).
On top of that Imagine the amount of savings we will have not paying 100's of Billions in importing crude oil.
@@PK-tt5kk 1 sq kilometers produces 1 gw solar energy. Mh has 300000 sq km, if Maharashtra state allocates just 1 percent of the land, I.e. 3000 sq km for solar, it will produce 3000 gw of electricity. We would be in the leagues of US and China
@Suvesh Mukherjee - Grow up dude. We have so much Sun, Ocean & wind energy. We could have transitioned to renewable energy 40 years back. Please stop sling at West & help Ambanis the richest person in the world. India ranks 110 out of 124 country in poverty index. India ranks 129th out of 184 countries in per capita income (the standard of people life). There is nothing proud to be loser or be a beggar. Please Note -
I have built a wind turbine for 10 lakhs in 2007 which generates 0.25 MW & is still
Operational from 2007. Had I done this in a different country, my work would have been respected & grown further to add meaning to the society.
India needs to manufacture to fulfill its own needs! And why can't it take on next gen(clean) manufacturing?
CTC was supposed to declutter, not opinion thrusting. I sincerely hope it sticks to the job.
Services-led export works linearly with manpower. While it many look like a good opportunity for jobs, it will soon turn out to be inefficient. Manufacturing is definitely required. We can have environment-friendly manufacturing using Industry 4.0.
Interview with RaGa has confirmed everyone in India that RR is an intellectually dishonest person.
Alll the points in his speech are mentioned by many economists earlier nothing new in that.
It's not about him being dishonest.
the point is why is RRR saying this?? and why Shekha Gupta defending him??
Sir,
Raghuramji is World class Economist.
However, he could not Control the Quantum of NPA created by Indian Banks.
As a common man, this was the fair
expectation from him.
Mr.. Gupta seems to be self appointed solicitor for Mr. Rajan
No both work for US. US intrest is their interest. US want to keep India low income country and dependent on them
Outrage on twitter? I thought that was it's only job.
I know climate change is an important topic.
.
Each and every country which is developed and also China haven't cared about climate change while they were on a path of development. They ignored everything and looked only for the development of their country and their people. But when the turn of India comes even some people who belong to India are also complaining about how Indians should live in poverty without developing for others to live well. Nice good thoughts. If such people will come to power then why do we need enemies?
So true we should reject these fakes and ngo we need development world can go in that path
India's green energy is India's future trees can save us and all pollution can be curbed scientifically ...... it's our right we become manufacturing hub with iT tech hub with green energy etc.
Climate Change is a farce.
The same people who want India to remain poor have no hesitation in migrating to a developed country, and being a part of the folks who are polluting the environment at a 100X rate.
@@SkpalTube They want India to remain poor so that they can make money through NGOs and all Big Bindi walis. Its poverty porn and poverty sale. RR is a crook and scam on the league of Nirav Modi Robert Vadra and Malya
Climate change is a tool to fool the gullible.
How can such a educated person dont understant that services cant give job to a wast population of india...we need manufacturing which china has
I still don't see how his words are misinterpreted. As.per this cut the clutter also, Mr Rajan is saying focus on service not manufacturing like China. That too for the reason it's more environmentally damaging. Which is stupid. We don't need to become factory of the world like china, but we still need to boost manufacturing manifold. And of course services will keep up the growth path.
No we need to compete in manufacturing become manufacturing hub which areas can provide 250 million poor improve lifestyle of citizens IT hub as it's limitations in work force it's critical to grow and develop both and green energy is not option but only option
Keep buying condoms from China to control population.
Service produces much better quality jobs
India's greatest resources are it's people and sunlight,if we could effectively use both we can be a economical power house. Hope by the end of this century our nation will be the most sought after destination for education ( from primary level to PHD level) and for medical treatment both preventive and cure
No Kg, America will not allow it.
@@Madame702 then we will move away from ah me rica
@@Madame702 lol its 2022 and US is becoming a joke by 2028 china wud takeover US and US dollar becoming toilet paper on its way its not unipolar world of 20th century but multipolar world
In my school day some of the influential fathers sons would be given extra marks to pass even though they have failed. This CTC reminds me of that.
😂😂😂
🤣🤣🤣🤣👍
I miss those school days
Exactly, just because someone genius said something we take them without scrutiny on face value. Which is extremely dangerous.
Chidambaram's chela the so called economist and NPA(scam) master should be wondering how India is achieving this growth? Under him as RBI governor this growth would have been impossible.
Absolutely right on the point of India doesn't need to follow China's path. India doesn't need to be manufacturing hub for the world. But it needs to be one which can provide jobs for the 700m youth. India just has tooo many young people who needs job. And only manufacturing can solve that.
And who exactly will buy the end product of these manufacturing setups if India is not going to compete China in its current share of world trade? How long then these employment last?
For me the greatest achievement of Modi govt till date is that he never listened to these so called economists who live on the US East Coast.
👍👍👍
man , he said exactly what everyone is blaming him for. SG you are just adding more clutter. when people are telling you who they are, believe them.
True colour of RR. When things started to happen in India all their tactics failed, now he want to play the Climate card.
I have only one word for both SG & RR
"BRUH"
SG thinks that vaccines stop the spread of COVID. That is straight up misinformation. It just reduces the severity of the COVID.
one word - shit
CIA assets they are
Exactly. Im so glad people are seeing through this shit.
@@person1858 SG still is one of the best journalists. He has his biases and has no clue on how bad the mainstream media like WaPo, Nytimes, etc. are. He takes their word like a word of law.
9 mins and kuch samajh nahi aaya kya bolna chaahate hai aap. Please cut the clutter.
Rajan made a very stupid one sided statement and Shekhar is trying to justify it. The arguments being made: If India go heavy on mfg it will contribute more to pollution and so it should go on carbon light service industry.
Both, the expert and analyst totally ignored following info/arguments:
1. EV: Both says India is not rich in minerals required to make an EV-battery, and an EV will create lot of pollution. I agree with point on Cobalt-Li, but what about India adopting-evaluating multiple options:
a. Green H2
b. EV batteries : IOCL-Phinery-AL-O2 battery, RIL-Faradion-Sodium-ion, RIL-LEP batteries, Nyobolt-Niobium oxide
2. India is moving fast on Renewable energy to reduce its carbon footprint: Solar, Hydro, Wind. What about this ?
3. 02-Aug-22 ET article on Bangladesh outshine India: where UN decided to remove from its list of least developed nations. Shekhar i think you also did a session on this, the argument made was that BD focused more on low skills job - textile making and bring mass of its population out of poverty, where as India focused on niche technology -service industry and could make fewer rich.
a. Note Mfg is always bigger employment generator
4. What about nation security ? I just read an article on MC where the author says EU has loaned its security to USA, it was thriving on cheap energy form Russia and access to China market ?
a. If India also depends on only Service for the sake of carbon footprint, how will it ensure its security?
I expect both educated people RR, SG to give a overall pic while making such big statements rather than contextual scenario.
The initial thing he said is not refuted. India as a service economy will be a consumer economy which will not produce. It will also be dependent on externalities unlike in manufacturing where it can work on the domestic market too.
This is BS.
China blocked alloy export for F-35s , that's just one example of a weaponizing manufacturing base.
RR's idea can work in an ideal world but we don't live in an ideal world
No Aravind, you don't understand America allowed China to sell the alloy to them so the could make money. The US have the mines they don't really need China for the metals.
@@Madame702 just an example, you dont have to dwell deep into that.
My point is we are not living in an ideal world & better to be at least somewhat self sufficient in manufacturing
@@aravindc102 No Aravind you will have some manufacturing but now that Globalization is collapsing don't expect to make the kind of money that China made. India also never participated in the American Globalization so don't expect India to do so now. Even now India doesn't want South Korea and Canada to join the Quad. So India is very anti Globalization.
@@Madame702 It's not about making money by exports but to rather reduce import dependence which is huge .
Also, South Korea in quad has nothing to do with globalization which primarily pertains to Economics whereas Quad is a quasi military alliance
@@aravindc102 You Indians don't know your history, worse you don't know what British did.
SG sir, weather world likes or not, we have to do what's best for our own people. Bringing our poor out of poverty should be the goal one to 100, in max possible environment friendly way. Irrespective of how globalized that plan is or not.
Yes we should do like that.how much un employment we have today.voh ac room mey baitke kuch bhi Bodega.
It's not a good argument. Rather it is a joke. We have missed the industrial revolution and so we don't have the required percentage of manufacturing as per the economics.this is a opportunity which is provided where we should increase the percentage of manufacturing sector in our GDP to get going.
I think SG need to keep out of the areas where is not strong.
This is a wrong direction given by SG
All her majesty's slave should leave & serve her..let IND live her own..
Raguram Rajan is the Suella Braveman of India.
A diversified economy makes far more sense than reliance on just one industry like services. India is also transitioning to renewable sources of energy, so why is RR concerned about the climate change angle vis-a-vie India?
It appears both are blabbering... SG is good for covering Pak and Raghuram is good for the world of old colonial power structure. Guys read the recent opinions of George Soros on Russia Ukraine war.
And here we have SG trying to save RR’s behind.
He is a Left liberal journalist who after 2014 changed a bit and started "considering" the pov of non-left, he is not neutral,its just that he tolerates non-left as they are in power. Before 2014 he was in bed with khan mkt gang and won't even listen to non-left.
Senseless argument & an episode on it. If the global south (India atleast) is such populous and can just service sector offer employment? Service sector is more volatile compared to manufacturing. One can easily shift to another country for services but shifting to another for commodities takes decades.
Justifying brethren.. another Suella Braverman loving thy motherland..
We should not limit our economic decision to just academia. We should do whatever it takes to pull out our huge human resources out of poverty by keeping in consideration of the environmental impact. We just have to maintain the equilibrium.
Sekhar ji, Raghuram's comment on India services led growth is misplaced, I believe that India has to be manufacturing-based and then only it will achieve the kind of growth it's aspiring for.
Remote Services need people interaction, it has a major language barrier, that's why you will see India only exports services to English speaking countries. India cannot start services exports to non-English, speaking countries so effectively if we don't move to manufacturing of tangible goods, we will never achieve employment for the masses.
In services opportunity lies at inbound heath care (medical tourism) to south asia and African markets . These are big employment, generators given our low cost . (For every bed a hospital needs 4 direct staff.)
No Saha, you cannot be a manufacturing power, because one it is to expense to move things by Road. You would need to use the sea or have good rivers to make it very inexpensive to move things from place to place.
@@Madame702 Sir, all the products we buy have travelled from China or USA. The puja ganesh to my the chips on my laptop.
@@Badbadderbaddest Yes, let look at the supply chain to make your "Smart Phone" shall we Saha S. It took supply chains from a 150 countries to make your "Smart Phone" Saha S. And four different Asian countries with the right labor pricing to make it so affordable.
@@Badbadderbaddest Also the micro-chip in your laptop 85% of all "Silicon" used to make micro-chips comes from one mine in North Carolina, that in United States of America. So China or India cannot become a micro-chip manufacturing without the blessing of the United States.
@@Madame702 so why cant India be in the middle of the same supply chain and not at the end?
The economists like Raghuram Rajan with their ideas are killing the countries like India, their ideas are good for them to get Nobel prize but in real world these ideas are shit, service industry needs lot of skilled workers and in India Indians are not that skilled on the other hand if we do skill all the ppl, most of the service industry depends on the economy of how western countries economy do cause most of the service we provide and our revenue depends on the western countries economy.
With our given population the only way to move forward is creating more manufacturing jobs, this is where our country lags in providing proper infrastructure and establishing proper system to cater these industries.
With the given fact that we have large population and we need to be independent to cater the needs of people by creating our manufacturing industries.
Climate change n all are good for these ppl to make statement in international forums but in reality they are devastating for the country like India
Audio seems to be missing
if all of us switch to EVs, we will consume all the rare earth minerals in 1.5 generations, let that sink in. Even though some of drive only 10K KM a year, we will all consume same lithium in a year. And no way to recycle the batteries, cars, solar panels, wind turbines, just no way.
SG, Pl do an episode on whether the experts should give lectures on just one aspect of any problem such as climate change. What happens if what is good for climate change is bad for Indian economy? What do we do with such advice? Incidentally not clear how if India replaces Chinese manufacturing it will be bad for climate change.
The majority of the population has an IQ of a factory floor worker. We need large scale manufacturing to provide jobs for them. Not everyone can sustain themselves in a service economy. The service economy is customer driven. If people don't have money to buy then who will they sell it to.
Didn't need a CTC to defend him because nobody misunderstood his altruistic thoughts. But what people are saying is he opposes manufacturing inside the room, then he will come out and rue jobless growth. His hypocrisy.... in short.
SG needs to spray perfume on RR's turd. this CTC is basically that.
how is climate change affected if something is manufactured in China India or South East Asia?
It's all the same from the perspective of climate change.
so we need to snatch manufacturing from China before others in South east asia.
true but we can't just rely on service or manufacturing we need to start developing advanced industries so that in next 20 or 30 years we can have something more to offer and sell on world market. Like britain gave industrial revolution , america gave computer and internet revolution , china has a strong AI, macine learning expertise and capacity to build fast and world class infrastructure.
we to need to invest highly in our universities and research and development we can't compete only on our human resourse in the coming future we need to compete on technology and expertise.
On high tech side, work is ongoing but main priority right now is absorbing the current technology available to create manufacturing base.
He says this and then he gose on to saying we are having job less growth bloody Hippocrates
I like the way you narrate the news shekar ji
I mostly agree on what Shekhar Gupta says, however if environment was the only concern, why can’t we talk Nuclear? Even for running computers you need to burn Coal for generating electricity. People will say you can do it with renewables. But the kind of population we have, it’s hard to match using Renewables. One also has to be cognizant about the fact that Manufacturing is strategically important for us. Take for example Vande Bharat Express or Train 18, these are the kind of projects will not just shape our country but also medium and small economies in Africa, South East Asia and even some of the developed nations. They don’t have good enough railways. Our proposition is cost, within $20 million you can get one train. If some central african republic or south east asian country doesn’t have good enough railways and has a nominal GDP say $50 billion. By spending merely $300 to $400million you can get good quality railways which runs at a speed of 180kmph. Which is more than enough to add into their productivity. Take for example Armenia, they started deals with us by buying crucial defence equipment which costs way less compared to any other exporter. Now defence, tomorrow Railways, may be 5G. Same goes even for most North African countries. You can’t have so much migration. If there is any country that can give cost effective, production surplus, export led manufacturing, it’s India. RR made a point about the environment, however not suitable for Indian context. Atleast, developing and developed nations can talk nuclear, because it is expensive, environmentally safe and enabler for new growth engine. People forget the amount of energy is required to run full blast 5G and 6 G services. What will you do in that case? Will you burn more coal??
*3 takeaways from this video:*
1. Shekhar Gupta hates nationalists to the core. In this entire video, he keeps dissing at them, mocking/taunting them. Proponent of coup theory taunting lecturing others about facts, is the biggest joke of the century. This guy has been wrong about all of his political assessments so far (from coup to Modi's ascent) but still lectures others with full confidence.
2. After spending the entire video desperately trying to spin Raghuram Rajan's words, he says that I am not trying to defend anyone. The main problem with Raghuram's comment is that India is targeting to become a major exporter in manufactured goods. India is hoping to do this with the help of foreign investments. Raghuram Rajan is making a direct call to the world for not investing in Indian manufacturing sector. India is already a major player in services, so his comments on services as a consolation prize are of no real use. They are just done as a garb to give opportunity to dalaals in the media to try and present his comment as more balanced.
3. Never support this toxic propaganda channel.
Exactly. This is one of the reasons why I am not willing to take subscription. What's the point of making a 20+ apology for an erstwhile RBI governor who the elected govt deemed unfit for his post. And I am glad Raghuram Ranjan was shown the door. We don't need him. Gosh! He'll drown the country.
Implement clean manufacturing technologies instead of avoiding manufacturing altogether.
Sir, I admire your style of presenting a lot. I like it because you use common sense and logic to explain things, which for some reason is a rare occurrence in media today. No bias, no attempt to cater to anyone's likes or dislikes, just pure facts. That's what journalism should be about. Wish I could work with you.
Just tell them you are a left liberal or congress supporter. Your chances will spike up
Yeah i would agree with you debate standards have gotten low but earlier only a select few would debate now everyone can and i like to believe slowly standards will also improve
Thanks Sekharji for the episode. But, one thing it bothers me is manufacturing of goods is a necessity.whether it is manufactured in China or in India or any other country, carbon emissions and climate impact is going to be the same irrespective of the country of manufacturer.
Further, there are many services which are associated with manufacturing. If we do not have manufacturing, we are going to miss out on those services as well.
Also, post Covid and post Russia Ukrain war, the need for being self sufficient in certain sectors like Defence has become very essential for a large country like India. Hence, India has no other option but to go in a big way for manufacturing.
Actually, if India is producing lots of manufactured goods that would otherwise be imported, that would tend to reduce overall greenhouse gas emissions, because you wouldn't be transporting those manufactured goods around the world to get to India. Now, it may be that another nation produce items much more efficiently (with much less greenhouse gas emission/item) than India. In that case the boost in efficiency may offset the emissions from transporting those goods to India.
Solution of Raghuram Rajan is nothing new. $ 100 billion was promised in 2015 Paris Agreement and that is still pending.
I don't understand the debate of deglobalization when supply chains of a single product is distributed across countries.
Also I would want India to have its own manufacturing first rather services as it provides jobs, jobs which our rural agricultural workers could do easily and understand too and earn better income from farming. I would not want Indians to burn and destroy their TV sets or other products which are manufactured in China.
Services are important too but they are the third stage. We have this JOBLESS growth because our services sector are far better developed than manufacturing.
So just because of CLIMATE CHANGE we should not let the people of our country suffer.
Nailed it
1. Rajan is nowhere in power today. Is he stopping India from manufacturing in any way?
2. MODI govt is in power, and focused on manufacturing with 'make in India' push
So why aren't we still not making any progress? Why is manufacturing, exports as % of GDP going down? Who is to blame, nationalist Modi who is in power? Or Rajan who these people got another chance to blame and abuse?
Here are some facts:
Modi launched Make in India in September 2014. It has been 8 years.
In that time, manufacturing has only GONE DOWN steadily. It is a continuous decline graph. If only you could improve manufacturing with jumlas.
In fact our highest point in manufacturing was in 1995 when it was 18% (of GDP) under congress. Since then it has been only going down. And it fell off a cliff under this govt, reaching as low as 13%.
The lowest under congress was still higher than highest under this govt.
Even smaller countries like Vietnam are taking away the manufacturing jobs coming from China's loss. Why?
@@mrgyani it is not about Modi or congress. The reforms which were taken in 1991 were mostly in services sector. We as a country have focused thoroughly on it.
And don't look at the smaller picture. GDP gives you value, services sector will always remain high because the product created are of higher value than manufacturing. Manufacturing has grown throughout the years since independence.
And for the Congress vs Modi debate I personally don't hold congress in high regards. They are just self serving masters, they did not make a single worthwhile plan to revive manufacturing in their ten years, At least this government took the initiative of make in India which has started showing some progress
Increasing manufacturing is not easy, and we cannot rely on foreign firms to set up their manufacturing plants here, if India has to increase its manufacturing its people have to take those initiatives.
And these people were appointed by the Congress Government as the RBI governor and then they think why people don't vote for us. 😂
If India makes things that China makes , the "WORLD" wont say ""NO , THIS IS INDIA . I CANT AFFORD INDIA MAKING THINGS FOR ME" !!!
By the way does Print draw on facts always ? You just missed a fact here too when you referred to Chinese manufacturing as mostly low cost and low quality . I am sure you are aware that China makes apple phones - the world best brand and thousands of other top class brands for the world . India's services on the other hand have mostly been at low end because what we give is generic non IP based .
So there is a case - a very strong case -- a very very strong case for Indian to be the next China. If we have to find jobs , we have to make things in India - from condoms, bikinis, and sex toys to lasers, superconductors, semiconductors, and nuclear reactors to steel, cement, automobiles, and trains. Every damn think !
For an economist to say the world can't afford another China is dumb. The world is not an "entity". It does not decide nor does it think which country should make what. People need things and they buy from countries that make them. The world buys from China because China makes for them.
You sermonised for 25mnts but failed to integrate India’s need for manufacturing independence as a strategic need and then critique RR. This kind of disjointed timing done in isolation of the reality is wishful thinking.
Reminds me 2013 quote by Mr Modi when he was asked about Gujarat riots and he said `if a puppy comes under the wheels of your car, you would feel sad`. And then amount of havoc created by the Indian media was a news riot. So, our media is doing it for a while. Coming back to to Mr Rajan’s comment, we are yet to arrive on a same page on nuclear issue, climate change is a far cry.
What people say about Rajan is perfectly correct - He knows very little about India and it's economy.
He presided over the banking scam by not implementing NPA norms...
This chap thinks he is a genius and keeps commenting on any and every subject.
Latest is his advising India to concentrate on services sector and desist from focussing on Manufacturing.
This man thinks that if India focussed on Manufacturing ,it will lose out on Services sector.
This clearly shows his ignorance of the Service sector and Manufacturing sectors so also the talent pool in India.
What this mahagysni doesn't know is that the skills required for service sector and Manufacturing sector are quite different and India has the talent pool to handle both sectors simultaneously..
He is also a stooge of Congress party ..
Why do you bring such pundits on to your show ?
Looks like even the librus and their master have accepted that Modi is slowing but steadily turning India into a manufacturing hub and thus this desperation. Shows how much credibility Jumla party scamgress itself had by having such a person as rbi chief.
Watch the video ignoramus. Its talking exactly of people like you who jump the gun reading a headline
Kaunsa manufacturing hub bhai,Make in India ki bakwaas karne se kuch nahi hota...... Unemployment badh kaise rhaa hai agar manufacturing badh rahi hai?
@@akshayagrawal5114 Now WhatsApp enthusiasts knows more than experts. Smartphone, electronics, cars, motorcycles, textiles, iron, steel, Pharma etc are being manufactured at record pace in India. India recently overtook Vietnam as second largest phone manufacturer and with PLI scheme it's gonna get even more. So keep your eyes closed but it won't change facts.
If you are really looking for "fact based" debate then view the IMP speech of RR together with his recent essays and media articles criticizing PLI [ where he used totally flaky but different arguments ] ... Sad to see the levels to which people like RR are willing to stoop to try and stay relevant
When agendas and ideologies take precedence over rationality, even the best are not left unsullied.
SG wants to believe in the righteousness of RR, but the plain fact is even after reading the entire speech, there's no justification as to why shouldn't India industrialise.
If he is really pure at heart then he's a bad economist. And if he's a good economist, he's definitely not being honest.
No abhinav dwivedi, it isn't that India shouldn't industrialize. That is the wrong question. The question is can India industrialize? So look at the countries around the world to answer that question.
So "Geography" determines what you can and can't do. If your country has good farmland it has a lot babies so it has a big population. If you country has oil and natural gas lots of minerals it can industrialize. But you see India doesn't have a lot of oil, coal, and natural gas. It doesn't have rivers that allow for cheap transportation of goods. So it very expense to move products by road.
Rivers to help move products. Roads so expensive to move products that it was cheaper for the British to have a suit made in England and transport to India than it was to move 100 tons of grain 70 miles in India.
@@Madame702 your comment is so stupid , that i had to delete everything.
🤓
@@meow14115 Ok, please but just understand you have been trying to be a manufacturing country since Nehru was Prime Minister. It hasn't really worked has it.
Service sector serves other departments. If you don't increase manufacturing and other sectors, how can service sector grow after certain level?
I don't agree at all with his views.
Your not going to be able increase your manufacturing Pankaj, you cannot enter into the American market. Americans will not allow you to become the next China.
@@Madame702 America is important. But America is not the only important when you are in a time where whole new markets are opening and developing.
Secondly, not everything is easy to manufacture by a country by keeping all parameters like cost, quality, time etc in check. Hence, you need other partners like India.
@@pankkaj.sharrma You don't understand Pankaj look add up all the economies of BRICS you will see doesn't even come close to America economy.
@@pankkaj.sharrma You see the deal that America made with China was that they offshored their manufacturing to China, America then invested in China to build factories and the sent the products back to America that is how China got rich.
@@pankkaj.sharrma But Pankaj Sharma that deal is not on table for India. America will not open it markets to you it will not spend to build factories in India. It will not give you it technology why? Because America wanted to split China away from Soviet Union.
Even with the context the outrage is justified
As this proposition assume a perfect globalized world which far from reality.
PS why all the experts at global stage tend to say exactly opposite of what back in home policy makers do.
Rajan is turning himself into a public embarrassment. What a dolt.
We've increased defence exports by 300+% since 2015. Brought 40cr people out of poverty in the last 15 years. Our exports are at an all time high thanks to make in India. We have produced unicorns by scores thanks to start up India. We're the 5th largest economy now. The investments under PLI scheme will do wonders in the decade to come.
That's not it, we are currently constructing national infra projects like dedicated freight corridors, Delhi-Mumbai industrial corridor, rapid rail transit, making expressways at a record speed everyday.
The point with people like Rajan is that their words hold sway over the international community. They can malign India's image and undermine all the progress that we've made in order to further their leftist propaganda and serve their paymasters.
Problem with R Rajan is that he has lost credibility. Once you lose that, the public will draw their own conclusions thus opening up the field for his opponents to take advantage. So how ever you might try, it is not going to help. It is a poor attempt at communication for a lost cause Mr. Gupta. You wasted your episode I am sorry to say!
For volume take membership 🤣😂😂
Lol
Mr. Raghuram Rajan is one of the advisors to the Tamilnadu Government since May 2021 - I have not seen any change - except that the present state government has increased the electricity charges and Property Tax by more than 100%. The Present TN Government is also deep in debt and is dependent upon the income from sale of liquor which the leaders of present dispensation promised to abolish once they are in power. We need more light on this!
Big sigh to SG and his buddy RR smh
Many times I feel that your Captions and videos help our enemies, the point I am trying to tell that are you living on our enemies money.
I think What Mr.Rajan tried to say was that "Manufacturing sector alone isn't the panacea for all the problems of India and manufacturing sector is needed to grow to cater Indian demands but not in the hope of becoming another china."
He also has a point.