India's population has aged faster than expected while its economic growth has slowed over the last decade. This raises the obvious questions: Will India get old before it gets rich? Is India getting poorer relative to its peers in the emerging markets?
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| India's Population Aging. Source: Semafor |
As India's birth rate declines rapidly, the proportion of people age 60 and over is rising in the general population. This is particularly true of the southern states like Kerala and Tamil Nadu. Meanwhile, the expected demographic dividend from the youth bulge in the country has yet to materialize. High youth unemployment is threatening to cause serious social instability in the world's most populous country. It is also causing a massive brain drain.
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| India's GDP Per Capita Compared to Emerging Markets Average. Source: IMF |
India is losing its best and brightest to the West, particularly to the United States, at an increasingly rapid pace. A 2023 study of the 1,000 top scorers in the 2010 entrance exams to the Indian Institutes of Technology (IIT) — a network of prestigious institutions of higher learning based in 23 Indian cities — revealed the scale of the problem. Around 36% migrated abroad, and of the top 100 scorers, 62% left the country, according to a report in the science journal Nature. Nearly two-thirds of those leaving India are highly educated, having received academic or vocational training. This is the highest for any country, according to the Organization for Economic Co-operation and Development.
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| Annual Population Growth Rapidly Falling Across India. Source: Semafor |
India has the lowest GDP per capita among the 5 BRICS nations. The country's GDP growth rate is much slower than the average for emerging markets. It means that India is becoming poorer relative to the rest of the developing world.
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| GDP Per Capita Map 2024. Source: IMF |
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| India's GDP Per Capita is Very Low. Source: BBC |
The north-side geographic divide in India is growing. The southern five of India’s 28 states (Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana) contain 20% of the population and contribute 31% of the GDP, according to The Economist magazine. Among startups, 46% of tech “unicorns” are southerners, particularly from Bangalore. The five southern states provide 66% of the it-services industry’s exports. The latest craze is for “global capability centers”, where multinationals assemble their global auditors, lawyers, designers, architects and other professionals: 79% of these hubs are in the south.
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| Indian Parliament Seats Based on Current Population. Source: National Herald |
There has always been a north-south divide in India in terms of population and wealth. The south has been wealthier and less populous than the north. But the political power is still concentrated in the poorer and more populous northern states. This situation serves Prime Minister Narendra Modi and his BJP party well. But it also creates significant resentment in southern states.
In his book "The Raisina Model", British Lord Meghand Desai says that India's breakup can not be ruled out. Specifically, he points to three issues that could lead to it:
1. Cow protection squads are killing Muslims and jeopardizing their livelihoods. The current agitation about beef eating and gau raksha is in the Hindi belt just an excuse for attacking Muslims blatantly. As most slaughterhouses in UP are Muslim-owned, owners and employees of these places are prime targets.
2. India has still not fashioned a narrative about its nationhood which can satisfy all. The two rival narratives—secular and Hindu nation—are both centered in the Hindi belt extending to Gujarat and Maharashtra at the most. This area comprises 51% of the total population and around 45% of the Muslims in India.
3. India has avoided equal treatment of unequal units. Representation in the Rajya Sabha (Upper House of Parliament) is proportional to population size. The larger states dominate both Houses of Parliament. It would be difficult for small states to object, much less initiate reform. In future, small states could unite to present their case for better treatment.
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47 comments:
Riaz Sb.,
Comparing China with India, Francis Fujiyama wrote that unity is the natural form of China, it gets disintegrated then gets united. Whereas disintegration is the natural form of India, it gets united for a while then disintegrates.
G. Ali
Haven't I seen multiple articles on this exact same subject on this blog barely months ago? Or is it a deja vu? I am aware that you tend to view emigration from India as "brain drain" and signs of an economy in crisis, while the same from Pakistan is seen as "export of manpower" and "reaping demographic dividend", but it would be a welcome change if you were to write more frequently about the same economic and demographic issues confronting Pakistan. Like I said in an earlier comment in one of those articles, the so-called "demographic dividend" of a young population can very well turn into a "demographic disaster" for a country if it continues be mired in recurring economic crises and political instability. By the looks of it, despite having a smaller and younger population, Pakistan faces a far greater challenge in attracting foreign investment and generating jobs for its people due to the cycle of political instability, economic crisis and rising militant attacks.
"In his book "The Raisina Model", British Lord Meghand Desai says that India's breakup can not be ruled out."
We have heard this fantasy before. I know that Pakistanis have been predicting - and hoping for - India's breakup for the past 75 years (and I wouldn't really blame them for wishing it considering the history of mutual animosity between the two countries), but let me say that it is unlikely to transpire any time soon due to one oft-overlooked factor: democracy. As much imperfect as it may seem, the Indian political system and elections have always acted as a pressure relief valve for social and political tensions. India is far more diverse than Pakistan linguistically, culturally and politically and the faultlines are plenty, but the country is still in one piece and is no closer to breaking up than it was 75 years ago.
Also, despite the "south" often being depicted as a distinct bloc, the fact is that southern states are themselves very diverse linguistically and culturally, and has many disputes between themselves (especially in river water sharing) that would prevent them from putting up a united front against the "north". Its funny really, that when I - a native Malayalam speaker from Kerala - travelled to various places in neighbouring Karnataka, I often had to resort to the use of my rudimentary Hindi at shops as I could neither understand Kannada nor read their script. It is a similar situation with the other southern states as well, despite all of them speaking the Dravidian family of languages. This linguistic conundrum and cultural diversity is a reality here in the south, and actually makes any chance of their secession (the so-called "Dravidistan") very remote.
That said, the growing gulf between the development and demographic realities of the "north" and the "south" is a fact, and the upcoming delimitation of Parliament seats based on the new census data is only going to weaken the political clout of the "south" further unless it were redressed in some other manner (though the said delimitation is welcome in addressing one long-standing fault of Indian political system by guaranteeing a minimum political representation of women through reservation of one-third of seats in both the Parliament and state legislatures). Perhaps the problem could be addressed by reforming the upper house of the Parliament to ensure greater representation of the southern states, or by guaranteeing a more fairer distribution of tax revenues and national budget. Indian political system isn't set as a monolithic bloc. It is fluid, and there is plenty of room for such reforms through consensus.
Also, this last point reminds me about an interesting subject I often encounter in my readings in DAWN - the famous 18th amendment of Pakistani constitution, and how the extent of provincial autonomy guaranteed by it compares to that in India.
"We have heard this fantasy before.".
... same can be said about Indians. Any hickup in Pakistan's situation or
economic condition and some Indian writers an article about Pakistan 's demise or that it should merge back with India. Just wondering if you ever criticized them?
Hello to all members of this blog.
Many Indians specially those who beat their chest and feel proud about their economic growth must know and realize that it is not just GDP or economic growth that matters, it is in fact the GDP per capita that matters most.
India is already rich, while it is still the youngest. With 700 billion reserves, a stable economy, and the highest growth rate in the world. According to the World Bank report, it is the only country with zero probability of recession. Mind about Pakistan and how fast it is sinking. In the next five years, you will be torn into five pieces and none of the pieces will have Pakistan as its name. Pakistan will cease to exist and become a vassal nation of other powers. As it is, it is ruled by the IMF, China and other donor nations who dictate what should be the prices of tomatoes and petrol in Pakistan.
India getting disintegrated is a fantasy. However, it can indeed get old before getting "rich" or in other words, it can get middle income trapped just like Turkey, Malaysia and probably China did.
I highly recommend Raghuram Rajan's latest book about economic challenges (and his solutions).
Mr. Sanjeev
Your comments actually reflect your prejudism and grudges which your extremist and arrogant Indians hold for Pakistan. Pls come out of your fantasy world. Pakistan is not Sri Lanka, Nepal or Bangladesh.
Inorder to disintegrate Pakistan your army, navy and airforce needs guys, confidence and determination which they are seriously lacking.
Your own retired Indian generals, majors and other military officials have said in an interview which they gave on a podcast to Indian hosts that Indian Army can't take POK( Pakistan Occupied Kashmir) by force from Pakistan.According to him, the only option left for India is to have a dialogue and table talk with Pakistani authorities in order to regain POK.
Recently a Pakistani airforce chief said that mashallah PAF( Pakistan Airforce) is 14 years ahead of IAF( Indian Airforce). As soon as PAF chief said this, Indian media started crying and started showing concern about it.
Mr. sanjeev
Before coming here and showing your biases and hated for Pakistan and before underestimating Pakistan. Pls go and check the interview of another retired Indian officer or general who gave an interview in the podcast. He says that India can't afford to have a conventional war with Pakistan forget about nuclear confrontation.
He further said that they as Indians must look at the condition of India as their is huge poverty in India, many villages in India don't have safe and clean drinking water for its people. He further said that out of 100% of the drinking water that is available in India at the moment, only 4℅of that water is suitable and clean enough for drinking. He further said that look at the conditions of most of the schools in India and also see how much unemployment is their in India. These were the words of your own retire Indian officer or general when he gave interviee on a podcast.
And you Indians very arrogantly and confidently talk about your huge foreign exchange reserves and economic growth?
What is the use and benefit of having such huge foreign exchange reserves and economic growth if common people in India are not benefiting from it and are instead mostly suffering?
Mr. sanjeev
Out of total 100℅ of the population in India which is over 1 billion. At least 80 ℅ population of India gets 5 KG of wheat (ata).
In GLOBAL POVERTY index, India has a share of 33℅ which is the highest share any country has in this index.
Perhaps you are referring to India's "Godi media"? They are sensationalist and have zero credibility. I do not watch them, and isn't even worth any criticism as they are nothing more than paid stooges of Modi govt.
I wouldn't say Pakistan is anywhere close to disintegration, nor will I call it a "failed state" like Indian media usually does. But by the looks of it, Pakistan is grappling with a far greater crisis - an "existential crisis", "polycrisis" or "perfect storm", as some Pakistani columnists call it – than anything India faces at present. It doesn't look like merely a "hiccup" that will pass away anytime soon.
Mr. Sanjeev
This is the same World Bank from which Indian government requested ( indirectly begged) million of dollars so that Indian government of BJP could improve and fix its countries problems of sanitation.
And pls know that according to TOI( Times of India) reports, since last 60 years, India has received highest amount of economic aid from America.
Their are total 10 countries in the world which received highest amount of aid from America and India is ranked at the top in that list at number 1.
Japan is the biggest donar to India.
Mr. sanjeev
Pakistan is not a ship or a boat that would sink in the sea and neither it is floating on the sea. Yes problems are their in Pakistan but pls note that Pakistan is are resilient people and they know how to cope with such issues and how to survive.
Sanjeev,
There is an English saying that you can fool some of the people some of the time but you can't fool all the people all the time. Who ever came up with it never met an Indian. When it comes to Pakistan, you guys can be fooled all the time. That is what your leaders, your media and pundits have been telling you for seventy plus years but you never learn. Nehru in 1940s had predicted that Pakistan will come knocking on India's door in less than 50 years, well guess what?
As far as having $700 billion is concerned, well India's suicide rate went up by over 25% between 2019 & 2022 and quarter of them were day wagers. I am sure they died happily that they may not have food to feed their families but at least the country has $700 billion in reserves.
Now I wait for Vineet to see if he goes after you for your stupid comments or shows the typical Indian double standard.
G. Ali
@G. Ali, We have the history of Pakistan splitting into two in 1971 over the imposition of Urdu and denial of political rights to East Bengalis, but when was the last time you heard about the modern Indian republic disintegrating or facing threat of disintegration? For all its faults and failings, Indian democracy and political system is more resilient than you assume and provides enough room for India's diversity to coexist.
"India" has always been linguistically and culturally diverse and politically divided like Europe was, but just as in the case of Europe there were strong undercurrents of cultural links and shared identities as well. If some kind uniformity has not been forced on Pakistanis by its ruling class, the case of Pakistan would be similar as well, if only in a smaller scale. After all, what historical, cultural or political identity unites a "nation" of Punjabis, Sindhis, Balochis and Pakhtuns? Religion? East Bengal broke away because they valued their "Bengali" ethnic and linguistic identity more than any forced unity of religion. Modern Bangladesh is a defined by a shared identity of ethnicity and language, but neither India nor Pakistan are such.
I know that there is a general perception (and a misconception) that China is somehow a more homogeneous nation compared to India. China's case is actually a forced "homogeneity" that has been imposed by its rulers. For instance, most of the so-called Chinese "dialects" are in fact distinct and mutually unintelligible. By our definition, these Chinese "dialects" would be called "languages". If Indian govt were to borrow Chinese terminology, India would at most have one or two languages - Hindi "dialects" spoken in the north and Dravidian "dialects" spoken in the south, except that these "dialects" would be mostly mutually unintelligible and distinct languages. Furthermore, the Chinese government imposed Standard Mandarin as the only medium of instruction in schools and actively discouraged other regional languages, while in India many of the states have retained their local vernacular languages as their official languages and medium of instruction in schools. (That said, there is however some concern of "Hindi" swallowing up many native languages in the northern states due to official apathy.)
Suffice to say, had modern India imposed linguitsic, cultural and political uniformity on its population (by imposing Hindi like the way Pakistan imposed Urdu or Chinese imposed Standard Mandarin, for example) it would have appeared more "homogenous".
Salam Sir Ali
Very good and excellent reply, I have actually read comments of many Indians on YouTube channels and on Facebook groups where they actually brag about their economic growth.
One should ask these Indians that if the economy of India is performing as good as the indian media and Indian government claims then why the unemployment is high in India? According to labour participation rate reports, India has more unemployment than Pakistan and other neighbouring countries. Also India has much more poverty than Pakistan and other developing countries.
Their is huge shortage of clean drinking water in India.
One should ask these emotional and arrogant Indians that since BJP came into government, what have they done for India and for the people of India?
Salam Sir Ali
Another important fact, Indian government claims to have one of the fastest growing economy in the world. Pls ask these Indians that if this is true than why doesn't the BJP government releases the data of unemployment in the country?
Why did the chief economic advisor of PM Modi resigned few years ago?
Sir Ali and other Pakistanis of this blog.
Actually these Indians think that Pakistanis lack knowledge and are ignorant. They don't even know that their are several great and learned Pakistanis who know about the economic facts and realities of India but unfortunately they mostly reside outside Pakistan.
Pakistan’s Top Talent Is Leaving the Country in Record Numbers
https://www.bloomberg.com/news/features/2024-10-31/pakistan-s-brightest-leave-at-record-pace-with-high-cost-of-living-pkr-drop?embedded-checkout=true
Economic hardship has pushed skilled workers to move abroad, hollowing out banks, hospitals and multinational companies.
One million skilled workers — doctors, engineers, accountants and managers, among others — left Pakistan over the past three years alone, according to a government tally. That makes Pakistan one of the top 10 countries for emigration.
Asad Ejaz Butt is one of Pakistan’s best and brightest. After completing graduate studies in Canada, the economist returned home with a drive to contribute to his home country and its development.
Yet prestigious jobs working under two finance ministers weren’t enough to pay the bills. Over the past few years, as Pakistan’s inflation outranked any other nation in Asia, Butt couldn’t afford basic necessities, including rent. So he left his highly coveted government job and moved back to North America — to buy time and complete another advanced degree.
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https://youtu.be/YAeOOpk0OEI?si=thP0nkD0AL5l-ZwU
A growing number of skilled workers are leaving Pakistan, seeking opportunities abroad as their country faces one of Asia’s highest inflation rates, rising food and energy prices and a devalued currency.
To address the dire economic situation, the government has implemented unpopular reforms, including raising corporate tax rates and utility prices. These measures are part of Pakistan’s latest $7 billion loan deal with the International Monetary Fund, aimed at averting national bankruptcy.
But the result of all this has been an increasing number of would-be taxpayers emigrating to wealthier nations. So what does that mean for the country’s economic and political prospects?
Doesn't that apply to your patron state? Have you checked their per capita lately?
Slightly off-topic, but it would seem that despite the "success" in securing yet another IMF bailout and achieving some measure of economic stabilization, even Pakistan's "friendly" and "brotherly" partners aren't too enthusiastic about investing in Pakistan at the moment. The Pakistani FO may be "perplexed" that the Chinese ambassador chose to air his concerns openly, but his public comments raise the question about the tense conversations that has been happening behind the facade of unwavering friendship and eternal brotherhood.
FO perplexed by concerns over security of Chinese
https://www.dawn.com/news/1869028/fo-perplexed-by-concerns-over-security-of-chinese
Chasing investment
https://www.dawn.com/news/1868832
Seeking investment
https://www.dawn.com/news/1869044/seeking-investment
Meanwhile, I do not know what exactly were the drivers behind the recent agreement between India and China to pull back troops from contested areas in Ladakh and resume patrols, but with a slowdown in both the Indian and Chinese economies and with China facing the looming prospect of new tariff barriers in the Western markets, there is hopefully a mutual desire to normalize trade relations and investment, push territorial disputes to the background and rebuild trust - which is really the sensible way forward for India-Pakistan relations as well, instead of hurting each other through endless proxy conflicts over a 75-year old territorial dispute.
Hello Sir Zen
Their is no 100℅ surety that India will disintegrate but their are greater chances for it to happen. Future is actually is in the hands of Almighty.
As per the Organisation for Economic Co-operation and Development [OECD], “In terms of magnitude of the high-skilled diaspora in the OECD area, India takes the lead, with over 3 million tertiary-educated migrants, followed by China [2 million] and the Philippines [1.8 million].”
The findings were published in OECD Social, Employment and Migration Working Papers No. 239. The data refers to 2015/16.
https://www.y-axis.com/news/india-produces-highest-number-highly-educated-migrants/
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This chart shows where the world's highly educated migrants come from
https://www.weforum.org/stories/2020/12/where-do-highly-educated-migrants-come-from/#:~:text=For%20India%2C%20which%20topped%20the,the%20OECD%20%E2%80%93%20or%202.25%20million.
OECD data reveals that there are around 120 million migrants living in OECD member countries. 30 to 35 percent of these migrants are considered highly educated, meaning they have received vocational or academic training. Among the most common birth countries for highly educated migrants, these shares are a lot higher, however.
For India, which topped the list as of 2015/16 with more than three million highly educated migrants in the OECD, the share of those considered of high education status was nearly 65 percent. China had a rate of 48.6 percent highly educated migrants in the OECD – or 2.25 million.
The Philippines come in rank 3, behind the world’s two biggest countries and ahead of a list of OECD nations, naturally trading highly educated personnel back and forth with each other, especially within Europe. 53.3 percent of Filipino immigrants to the OECD are considered highly educated, which brings the total to almost 1.9 million for a country of just over 100 million inhabitants. In a paper on the Philippines, the International Labor Organization finds that many of those high skilled migrants - to OECD countries and elsewhere – were health care professionals, especially nurses. Because of the coronavirus pandemic, the Philippines government has put a stop to this brain drain at least temporarily by capping the deployment of newly hired nurses at 5,000 per year.
Around half of Filipino migrants in the OECD chose the United States, forming one of the most important migration corridors identified by the OECD, behind Mexican and Indian immigration to the United States and ahead of Polish immigration to Germany.
Vineeth.
First of all no one has time to long articles. And as they say if you can't explain it in a few words than you don't understand it.
"Godi media" didn't grow in a vacuum, it has 70+ years of history behind it. On the larger issues you are all peas in a pod. The same crap about "undercurrent of cultural links". So please enlighten us what is common between a Kashmiri pundits and a Kerala Christian or a Punjabi Sardar and a Naga. In most cases they communicate in English.
Btw, obviously you don't know much about either Pakistan or about Muslim culture of South Asia. Urdu was/is a common language of a large number of South Asian Muslims. I have met Bangladeshis who speak perfect Urdu. Few months ago a met a Muslim family from Indian state of TN who told me that everyone in his area speaks Urdu. There is a reason three of the greatest Urdu poets of 20th century (Iqbal, Faiz and Faraz) were all non Urdu speakers.
G Ali.
@G Ali,
Linguistically and culturally, there is very little in common between Kashmiri Pundits, Kerala Christians and Punjabi Sikhs (Naga areas were added to "India" by the British), which was pretty much the case of Punjabis, Sindhis, Baloch and Pakhtuns before Pakistani rulers imposed a "homogeneity" through Urdu inorder to build an idea of Pakistani nationhood. How many among the common Muslims in the four Pakistani provinces spoke or understood Urdu before independence? (I am not speaking of the educated elite.) The differences between the four corners of India would be naturally greater since it is 4 times larger by land area and 6 times by population.
I come from a southern state (Kerala) where 25% of its population is Muslim, and very few of them speak or understand Hindi/Urdu here. The reason is that Islam arrived here over the sea via Arab merchants (just as in the case of Indonesia and Malaysia) rather an invasions by Muslim dynasties from the north. As a result, Urdu and Persian have no cultural or religious significance for Kerala's Muslims - only Arabic does. For their everyday speech, they speak regional dialects of Malayalam language just like their Hindu and Christian counterparts. On the other hand, the other south Indian states have been invaded and ruled by various Urdu/Persian speaking Muslim dynasties like the Deccan sultanates at various times. So, its not surprising that some (but not all) of the Muslims in those states speak Urdu/Hindustani.
Secondly, if you say that Bangladeshis understand "Urdu", then most of the Hindus in the northern India speak and understand "Urdu" as well. There is a reason why linguists consider Hindi and Urdu to be variants (or registers) of the same language - Hindustani - and why Bollywood movies seem to be popular in Pakistan. Hindi/Urdu/Hindustani is an Indo-Aryan language that developed from Sauraseni Prakrit, and its verbs and grammar are derived from that language, while a large number of its nouns were imported from Persian and Sanskrit. The Persianised variant came to be called "Urdu" and the Sanskritised variant came to be referred to as "Hindi". While the heavily Persianised "Standard Urdu" and the heavily Sanskritised "Standard Hindi" may have lower mutual intelligibility, their vernacular versions can be easily understood by speakers on both sides of the border.
So, how do you know that the "Urdu" that you say Bangladeshis understand is not actually the "Bollywood Hindustani" that were popularized by the movies? Even Muslim Bangladeshis natively speak Bengali (which is a heavily Sanskritized language) as their native tongue, just like their Bengali Hindu counterparts. If Urdu was so popular among Bangladeshi Muslims, why did they revolt when Pakistani regimes tried to impose Urdu as the national language on them?
Fourth, as for my rather long comment above, I was trying to explain why the chances of India's southern states seceding are remote, due to their internal squabbles and cultural/linguistic differences. If you do not have the time or attention span to read them, it certainly isn't my fault. I prefer to explain things in detail.
Salam Sir
On 1 hand it seems like a bad news if skilled, educated and talented Pakistanis leave Pakistan for better life and opportunities abroad but if we look at other side of the coin, we will come to know that these Pakistanis who are going abroad will actually add to the diaspora and when they will work abroad and contribute in the development of there foreign countries, they will inshallah improve the image of Pakistan and Pakistanis in those countries and this way foreigners will come to know that Pakistanis can be beneficial for their countries if they are qualified, skilled and educated enough to work their and contribute in their countries development. Also these Pakistanis living abroad will send remittance back home which will increase the foreign exchange reserves of the country.
Weakness In India's Economy Is Showing In Quarterly Corporate Earnings - Bloomberg
https://www.bloomberg.com/news/articles/2024-11-04/india-market-buzz-bulls-grapple-with-blizzard-of-downgrades
It's raining earnings downgrades as economy slows
Read more at: https://www.ndtvprofit.com/markets/india-inc-faces-mounting-earnings-downgrades-as-growth-slowdown-weighs
This is the highest proportion since early 2020, when the Covid-19 pandemic upended economic activity for months. Jefferies now forecasts that the earnings of Nifty companies will grow at just 10% in the year ending March.
India Inc. Faces Mounting Earnings Downgrades As Growth Slowdown Weighs Jefferies has cut fiscal 2025 earnings estimates for over 60% of the 98 companies it covers which reported second quarter earnings.
Global brokerage firm Jefferies has cut fiscal 2025 earnings estimates for over 60% of the 98 companies it covers which reported second quarter earnings. This is so far the highest downgrade ratio since early 2020, Jefferies said in a note on Oct. 30. "Above normal rains and weak government spending has impacted earnings outcomes," Jefferies said. A clear trend should emerge in the December quarter
For the 98 September 2024 quarter results that Jefferies analysed from their coverage universe, earnings downgrades (63%) were more than earnings upgrades (32%). Meaningful earnings per share downgrades were seen in most cement, oil & lending financials, mid-caps, auto and consumer staples players, it said.
The rising downgrades come as a result of a slowing economy with companies facing severe pressure from weakening urban demand. In recent post-earnings commentaries, heads of these companies have rued the slowing consumption of essentials such as food and shampoo to cars and bikes. Contrary to the Reserve Bank of India's optimistic forecast, Nomura Global Markets Research believes that India's economy
"This is probably the worst earnings cycle that we have seen going into Diwali in a long, long time," according to Rahul Arora, chief executive officer at Nirmal Bang Institutional Equities "What is very evident is that the rural economy is in a mess." Hindustan Unilever Ltd. coming with 2–3% volume growth, a low number from two-wheeler manufacturers, and even certain consumer discretionary company
Veneeth,
1: First of all my issue with long replies has nothing to do with attention span but has everything to do with my allergies to BS.
2: "Linguistically and culturally, there is very little in common between Kashmiri Pundits, Kerala Christians...".
I thought they have "undercurrent of cultural links".
So which is it, they have cultural links or not?
3: If Bengalis had learned Urdu from Bollywood movies, they would sing Hindi songs not recite poetry of Ahmed Faraz. Any way, Rekhta.com is an Indian website that has everything to do with Urdu. There is a list on it of Bengali Urdu poets. So, your point about "Urdu being imposed" on Pakistanis is as much a bonkers as the previous point.
G. Ali
Ahmed,
I agree. But it is not their fault but they are victims of over 75+ years of propaganda.
G. Ali
Foreign investors fear India’s stock market boom may be over
International investors pull out more than $10bn from Indian stocks as indices record largest fall since March 2020
https://www.ft.com/content/d7ba1339-5326-4265-a360-04574a9239c0
Foreign investors pulled more than $10bn out of Indian stocks in October, the biggest monthly exodus since the start of the coronavirus pandemic, on growing concerns that the market’s huge bull run may finally be coming to an end as the economy slows. India’s two main share indices last month posted their worst monthly losses since March 2020 while the rupee fell close to a record low against the US dollar, as international interest cools in what was one of the hottest global markets. Investors increasingly fear that Indian shares, which have more than tripled since March 2020, could now struggle in the face of weak corporate earnings, signs of an economic slowdown and moves by the central bank to curb exuberant retail lending.
“It’s a pretty classic cyclical economic downturn in India,” said Saurabh Mukherjea, chief investment officer at Marcellus Investment Managers in Mumbai. “The question is if it’s a few quarters or a more prolonged affair,” said Mukherjea. He has been buying defensive stocks in sectors such as information technology and pharmaceuticals, which he believes will perform in “times of uncertainty”. Investors have also sold down their positions to brace for volatility around the US elections and to free up money to chase the recent stimulus-driven rally in Chinese shares. Following October’s outflow, net inflows from foreign investors for this year have dropped to just $2bn, according to stock exchange data. Even as money was still coming in earlier this year, foreign ownership of India’s stock market dropped to a 12-year low amid an Indian retail investor frenzy for shares. A warning sign came in August with data showing that Indian GDP grew 6.7 per cent in the three months to June, its slowest rate in five quarters. India’s “growth glass looks half-empty”, said Nomura economists last month. After hitting a series of record highs this year, the Nifty 50 index of blue-chip Indian stocks fell 6.2 per cent in October. The Sensex meanwhile fell 5.8 per cent, its worst month since March 2020. Even so, the MSCI India trades at 24 times forward earnings, just ahead of the roughly 23 times for the US’s S&P 500 index.
Also driving stocks lower is a wide swath of Indian industry reporting sluggish earnings, with misses so far exceeding earnings beats, according to Goldman Sachs, whose analysts have lowered their rating on the country’s equities from “overweight” to “neutral”.
“We track the extent of downgrades on earnings. What we are seeing in India is fairly intense. Even [some] consumer staples are missing numbers,” said Sunil Tirumalai, chief emerging markets strategist at UBS. Data has indicated consumer confidence is slowing; Indian vehicle sales have dipped in recent months, while bellwethers such as Hindustan Unilever, the seller of Dove soap and Cornetto ice cream, had “muted” industry-wide demand growth, chief financial officer Ritesh Tiwari told analysts. An inflection point for the glut of Indian companies coming to market in 2024 came with the highly symbolic $3.3bn listing of Hyundai’s Indian business on local stock bourses in October. Asia’s largest float this year was poorly received by retail investors, who were put off by its elevated valuation and an industry-wide vehicle sales slowdown. Executives at Citigroup, one of Hyundai’s Indian bookrunners, nevertheless defended the listing and played down fears of a wider downturn. “A temporary softness of one season or two months is not necessarily determining what our view on the outlook is for 2025,” Rahul Saraf, head of India investment banking at Citi, told reporters last month. Other “large” clients are “very keen” to explore an Indian IPO, he added. “I think they’re actually encouraged with the listing of Hyundai [rather] than being discouraged.”
4: "(I am not speaking of the educated elite.)".
Why? Most uneducated people in the world can't speak English, does that mean English is not an international language? Does that mean English is not the lingua franca of international diplomacy, trade and science and technology?
G. Ali
@G Ali,
Kindly bear with me while I explain. If I were to compare a Kashmiri Pandit, Punjabi Hindu, Bengali Hindu and a Malayali (Kerala) Hindu, there are obvious shared cultural/religious links between them - like similar religious beliefs and festivals - though linguistically they may be very different. But if I were to compare to compare the Kashmiri Pandit, Punjabi Sikh and Kerala Christian, such links would become more tenuous, though the Kashmiri Pandit can be considered closer to the Punjabi Sikh (or even a Punjabi Muslim) linguistically - and to an extent perhaps even culturally - than either of them are to a Kerala Christian. As a Kerala Hindu, I am bonded by a shared language with a Kerala Muslim and a Kerala Christian, and by a shared religious background with a Kashmiri Hindu and a Bengali Hindu. Between the two identities - language and religion - I would rate the linguistic identity to be far more stronger, which I'm sure was the case when Bengali Muslims chose to separate from Pakistan as well.
Now to explain the "Indian" identity. If one were to look at the example of Europe, the "European" cultural identity that existed from the time of the Middle Ages was founded on the idea of "Christendom" and the shared legacy of Roman rule. The idea of an "India" (or "Bharat") in the subcontinent that existed since ancient times was similar in conception. Even when the subcontinent was divided between various kingdoms and dynasties there was a free movement of people and cultural influences across this land, and even the ancient Greeks and Romans have always regarded "India" as a distinct cultural realm like Persia or China.
An excellent illustration of this cultural link that transcended languages and kingdoms of the subcontinent in those times is the case of the famous 8th century Hindu philosopher Adi Shankara who was born in Kerala in the south, and who travelled on foot across the kingdoms of the subcontinent to spread his philosophical idea of "Advaita Vedanta" - engaging in debates with scholars from rival philosophical schools including Buddhists and Jains, and establishing four monasteries (mathas) at the four corners of "India" - Badri (Uttarakhand, North), Shringeri (Karnataka, South), Puri (Odisha, East), Dwarka (Gujarat, West) - all of which still stand with an unbroken succession of pontiffs. It is that shared cultural heritage and history that defined "India". Culturally and linguistically, that "India" extends from Punjab and Sindh in the West to Bengal and Assam in the East, and from Kashmir valley and the Himalayas in the North to Kerala and Tamil Nadu in the South.
Now you can enlighten me what exactly is the identity of "Pakistan". Is it Urdu? Urdu is not native to any of the regions of present-day Pakistan. Is it Islam? If so, does the "Pakistani" identity then extent to Muslims of India and Bangladesh as well? If not, on what foundation does "Pakistani" identity define only those residing in Punjab, Sindh, Balochistan and KP?
Your assertion that since you happened to meet a Bangladeshi overseas who loved and recited Urdu poetry, Urdu must then define South Asian Muslim identity is quite amusing. I do not how many Muslims in Pakistan, India or Bangladesh can recite Urdu poetry, but I haven't met any Muslim in my state who could speak Urdu (unless what you refer to as "Urdu" includes Hindi/Hindustani spoken in northern India as well). Besides, I do not like this idea of tagging any language with religion for the simple reason that religions do not create languages. Both Arabic and Persian languages predate Islam, and while Arabic is a semitic language, Persian is an Indo-European and Aryan (Indo-Iranian) language related to Sanskrit. So when Shauraseni Prakrit developed into Hindustani dialects with the infusion of Persian or Sanskrit nouns, where did religion come in and how did "Urdu" end up being the language that defined the Muslim identity in South Asia?
There is no question that the Indian economy is facing a slowdown (though it is nowhere near crisis levels at present), and everyone outside of Modi govt and its cheerleading media would acknowledge it. But since you seem to be posting a torrent of articles about India's growth slowdown and struggles to generate employment, I hope you would provide equal coverage of the even greater challenges that Pakistan currently face in kickstarting industrial growth, attracting foreign investment and generating employment for its population while constrained by the straitjacket of IMF programs.
Vineeth,
So on Sunday it was "undercurrent of cultural links". On Monday there was
Linguistically and culturally, there is very little in common between Kashmiri Pundits, Kerala Christians...". On Tuesday we have shared "cultural/religious links" because in ancient times there was an idea of "Bharat" and someone a thousand years ago travelled from Kerala to north.
So, do you think Italians and Chinese have an "underlying" cultural links because Marco Polo travelled back and forth, not to mention they both eat spaghetti/Chou mein. How about West Africa and Indonesia? Ibn Batuta travelled between both.
The fact that Punjabi Sardar is completely different from a Tamil Iyer in cultural, linguistic and edible habits but you think they have "shared cultural/religious links". Amazing.
As far as Urdu is concerned, your statement the it was imposed on Pakistanis has no merit. I gave you the website that has list of Urdu poets from Bengal but I guess you are more interested in giving lectures than listening to others.
G. Ali
Just wondering if you give same advice to Indians when they write against Pakistan?
G Ali.
Dear Sir
Pls check the latest news, according to some Indian news sources, as soon as Trump takes over the seat of presidency in America, he and his administration has decided to report 10 00,000 Indians from America who are living illegally their and those whose documentations are incomplete.
As you might be knowing how strict Trump administration is in dealing all these illegal immigrants who are living in America and he is more concerned about the Americans who are jobless.
It is a good decision by President Trump and his administration and these Indians who are living illegally in America deserve this.
Sir don't you think now is the right time that high profile and highly educated Pakistani Americans including you must try to persuade this new government of America and should try to take them under their confidence and let him and his government know that how Pakistani Americans who are qualified in their respective fields have contributed in the progress and development of America?
Don't you think Sir that Pakistani Americans must form their lobbies while keeping aside all their pre conceived notions, political affiliation, differences that they have with their own people and must work together in unity to promote the national interest of the country in America and in other countries?
Sir these Pakistani Americans should try to convince the American administration that Pakistan doesn't actually need aid but it needs investment in various sectors specially in the sector of IT.
Dear Sir
I have a bad news, for the last few months I have been trying to inform through your blog that Indians are penetrating the American political system and their lobbies are actively working in America and in other countries.
Pls check the latest news as soon as Trump takes over the seat of Presidency in America, he will make Mike Waltz advisor his new national security advisor and he is pro Indian.
Do Pakistani Americans even know what he will do in the future as soon as he becomes the President of America? Pakistani media is beating the drum that as soon as Trump becomes President of America, he will do something to release Imran Khan from Jail.
When will these hopeless and emotional Pakistanis understand the political game that is being played?
India's middle class tightens its belt, squeezed by food inflation
https://www.reuters.com/world/india/indias-middle-class-tightens-its-belt-squeezed-by-food-inflation-2024-11-13/
Urban consumption hits two-year low, index shows
Inflation at 14-month high; food inflation in double-digits
Middle class frustration impacts Modi's election performance
Fast-food chains report sales declines
CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.
Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.
Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.
"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.
"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."
Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.
While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.
They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.
Dear Sir
Since last few days all I see is that Pakistani media specially news channels are crying and discussing about why Indian cricket team is not coming to Pakistan to play champions Trophy.
Sir is cricket really that important in the life of common people of Pakistan that media in Pakistan is giving so much emphasis to this issue?
My other question is that how much the media and news channels of Pakistan have talked about the appointment of Mike Waltz as the new NSA( National Security Advisor) of America who is pro Indian?
Is Pakistani media even aware about this new appointment?
CNBC’s Inside India newsletter: India’s growing wealth divide
https://www.cnbc.com/2024/11/15/cnbcs-inside-india-newsletter-indias-growing-wealth-divide.html
India’s growing affluent population and their outsized influence on the nation’s growth story is becoming the envy of many major markets.
The nation’s ultra-wealthy population — or people with at least $30 million — rose to 13,263 people in 2023, a 6.1% jump from the year before, data from Knight Frank shows. This number is slated to surge 50.1% between 2023 and 2028, making it the fastest growth rate for UHNWIs in the world, the same report stated.
These individuals are subtly driving India’s economic progress through their consumption patterns and investment behaviors.
Beyond the hype and expectation of growth, however, is the challenge of widening economic inequality.
The top 1% of income earners in India accounted for an unprecedented 22.6% of the overall income generated in the country between 2022 and 2023, a study by the World Inequality Lab (WLI) revealed. India’s metric is one of the highest in the world — surpassing levels in the United States and emerging markets like Brazil and South Africa.
There has been significant fluctuations in the statistic over the last eight decades. The nation’s top earners previously held just over 20% in the 1930s when India was under British rule. That share dropped during World War II to just over 10% for the most part between the 1940s and 1960s before plunging to 6.1% in 1982. It subsequently edged up gradually to hit 15.1% at the turn of the century.
India’s income gap (which is the difference in wages earned between different demographic) comes alongside a worsening wealth divide too.
The top 1% of India’s wealthy controlled 40.1% of the nation’s wealth between 2022 and 2023, the same WLI study showed. This is a considerable jump from the 12.9% they held back in 1961 when the researchers began their analysis.
The rise in India’s income and wealth inequality is not a result of the poor getting poorer, Sumedha Dasgupta, senior analyst at the Economist Intelligence Unit (EIU) flags.
Instead, the phenomenon comes as the “rich are getting much richer at a faster rate,” she told CNBC’s Inside India.
“India has over 300 billionaires, which is something that you would hardly consider possible for an emerging economy, [with] a strong growth rate, but also a track record of a very large population of poor people. So this has exacerbated the rich-poor divide,” she added.
India’s 3 household groups
A more pressing issue brought on by India’s wealth and income divide is the emergence of different categories of households with distinct standards of living.
Venture capital firm Blume Ventures categorizes Indian households into three groups based on their per capita income.
The first group, or India 1, as the firm calls it, captures the “consuming class.” Around 30 million households, or 120 million individuals, who have the disposable income to invest and purchase goods and services beyond necessities come under this category. They account for $800 billion or 60% of India’s total consumption.
The second group, or India 2, is made up of around 70 million households of relatively lower income from an “aspirant class” and are “heavy consumers and reluctant payers,” Blume Ventures noted in its Indus Valley Annual Report 2024. Individuals in this group include helpers and security guards.
The last group, or India 3, captures those who don’t “have the kind of income to be able to spend anything on discretionary goods,” the venture capital firm noted. These individuals have a per capita income of around $1,000 — similar to that in sub-Saharan Africa. Around 205 million households or a billion people fall into this group.
Meanwhile, research from non-governmental organization Oxfam shows that 63 million Indians are pushed into poverty annually because of health care costs. That translates to around two Indians becoming impoverished every second, solely on the basis of the cost of health care, the research said.
CNBC’s Inside India newsletter: India’s growing wealth divide
https://www.cnbc.com/2024/11/15/cnbcs-inside-india-newsletter-indias-growing-wealth-divide.html
In terms of wage growth, Oxfam notes that it would take a minimum wage worker in rural India 941 years to earn what a top executive at a leading Indian garment company earns in a year.
Unequal education opportunities
The EIU’s Dasgupta attributes India’s vicious wealth and income gap cycle in large part to mismatched education opportunities.
“Widespread access to education is not something that is very easily accessible for a very large proportion of Indians. This is because of a significant reliance on government funded education, the quality of which has just been sub par and poor,” she noted.
Private schools — which is an option for children from households with a monthly income of around 30,000-50,000 Indian rupees ($355 to $592) — would typically offer a better quality of primary and secondary education.
Conversely, government schools — which are free or charge a nominal fee in the foundational years — can be plagued with issues such as “missing teachers or under qualified teachers, inadequate infrastructure and a generally lower quality of education imparted,” Dasgupta explained.
There is “no incentive for a parent in a rural area to put their child in the educational system for 13-14 years. Parents want their children to work and contribute to the household and are simply not sure of what kind of income that child will be able to provide later based on the education they received,” she argued.
Access to schooling — public or private — ensures that India’s children are educated and also have least one meal, something which they may otherwise not have. Poor access to foundational education impacts productivity, employability and even the standard of health — particularly among those in the lower income per capita tiers — in the long term.
India’s poorer residents typically seek employment in low-skilled roles like agriculture and construction or as laborers, and typically face difficulty getting employed in higher skilled roles in manufacturing or even services.
Going forward, Dasgupta’s suggestion is for more resources to be ploughed into improving primary educational standards as well as enrollment and completion rates.
Signs of a focus on education are already visible with the Department of School Education and Literacy being allocated 734.98 billion Indian rupees in the recent national budget. Albeit a mere 6.6% of the total budget allocation, this is the highest amount ever allocated to the department.
What else is needed?
Besides improving its education, experts have called for other measures such as more taxes on India’s super-rich and greater focus on creating job opportunities to improve the labor force participation.
So far, the country does not have a wealth tax but has other measures such as higher income tax rates for the wealthy, capital gains tax, and surcharges for high-income individuals. Responses from a recent survey by the Earth4All initiative and Global Commons Alliance indicated that 74% of those polled in India were in favor of a tax on the super-rich.
Still, a more pertinent remedy for India would be to foster more avenues for growth, by attracting investments from both domestic and private investors, Shumita Deveshwar, chief India economist at TS Lombard, suggests.
“India is the fast-growing economy relative to other emerging markets and is making global investors sit up and take notice but FDI [foreign direct investment] inflows slowed to a 5-year low in FY24,” she told CNBC’s Inside India.
While FDI flows were up 48% year-on-year in the first quarter of 2025 between April to June, the economist cautioned of the “risk that these flows can be lumpy and are not yet supported by a strong recovery in domestic private investment.”
In India, one of the world’s most polyglot countries, the government wants more than a billion people to embrace Hindi. One scholar thinks that would be a loss.
By Samanth Subramanian
https://www.newyorker.com/magazine/2024/11/25/should-a-country-speak-a-single-language
Since 2014, when the Bharatiya Janata Party (B.J.P.) came to power, it has made the future of Indian languages even more uncertain. In addition to its well-known Hindu fanaticism, the B.J.P. wishes to foist Hindi on the nation, a synthetic marriage that would clothe India in a monolingual monoculture. Across northern and central India, roughly three hundred million people speak, as their first language, the standardized Hindi that the B.J.P. holds dear—but, this being India, that leaves more than a billion who don’t. Even so, the government tried to make Hindi a mandatory language in schools until fierce opposition forced a rollback. The country’s Department of Official Language, which promotes the use of Hindi, has had its budget nearly tripled in the past decade, to about fifteen million dollars. A parliamentary committee recently urged that Hindi be a prerequisite for government employment, raising the possibility that such jobs might become the preserve of people from the B.J.P.’s Hindi-speaking heartland. Three years ago, India’s Home Minister called Hindi the “foundation of our cultural consciousness and national unity”—a message that he put out in a tweet written only in Hindi.
In India, where language scaffolds culture and identity, this pressure affects daily life. On social media, people routinely bristle at encountering Hindi in their non-Hindi-speaking states—on bank documents, income-tax forms, railway signboards, cooking-gas cylinders, or the milestones on national highways. Two years ago, a man set himself on fire in Tamil Nadu to protest the imposition of Hindi. In Karnataka, the state where he lives, Devy sees a simmering resentment of Hindi-speaking arrivals from the north.
The B.J.P. believes that India can cohere only if its identity is fashioned around a single language. For Devy, India’s identity is, in fact, its polyglot nature. In ancient and medieval sources, he finds earnest embraces of this abundance: the Mahabharata as a treasury of tales from many languages; the Buddhist king Ashoka’s edicts etched in stone across the land in four scripts; the lingua francas of the Deccan sultanates. The coexistence of languages, he thinks, has long allowed Indians to “accept many gods, many worlds”—an indispensable trait for a country so sprawling and kaleidoscopic. Preserving languages, protecting them from being bullied out of existence, is thus a matter of national importance, Devy said. He designed the P.L.S.I. to insure “that the languages that were off the record are now on the record.”
----------------
By the time (literary scholar Ganesh) Devy was born, Indian leaders had begun to regard language as an existential dilemma. This was a fresh, unstable country, already rent by strife between Hindus and Muslims; to mismanage the linguistic question would be to risk splintering India altogether. Mahatma Gandhi, fearing India wouldn’t hold without a national language, proposed that it be Hindustani, which encompasses both Hindi and the very similar Urdu of many Indian Muslims. (In the history of new nations, Gandhi’s concern is not an uncommon one.
---------
During his time in Vadodara, Devy had seen, up close, the rise of an ugly, intolerant Hindu fundamentalism. On the street one night, he encountered a Hindu mob hunting for Muslims to harm; he sent them in the wrong direction.
Salam Sir
How are you? I hope you and your team of this blog are doing well, Sir I have something important to tell you about. As you might be knowing there in coming Jan of 2025,Trump will take over the seat of Presidency of America, I think before the start of Jan, Mr. Trump and Mr. Joe Biden must have had a secret meeting with each other where Mr. Biden might have told Mr. Trump about how the religious minorities are suffering in India at the hands of these Indian government which is dominated by BJP.
I just saw a video on YouTube in which Mr. Trump himself clearly said in front of the audience in America that :
" INDIA IS AN ABUSER, PM MODI OF INDIA IS A VERY GOOD FRIEND OF MINE, BUT INDIANS IN AMERICA HAVE INFLUENCE AND THEY ARE USING THEIR INFLUENCE AGAINST US, THEY ARE SITTING AT THE TOP AND ARE GAME PLAYERS ".
Sir can you imagine these words are coming out of the speech of Mr. Trump who was having good and positive notions about India?
Sir don't you think that Pakistani Americans and those Pakistanis in America who have some interaction, relations and influence in the politics of America must contact this new administration that is being set up under President Trump and must explain them about how India can be a threat not just to Pakistan and to the Muslims and other religious minorities in India but it can be a threat to this region?
Dear Sir
Asalam Aalikum
Another news, Kash Patel has been appointed as a new director of FBI by President Trump and he has praised him for his performance .
Sir don't the Pakistani Americans see what exactly is happening in American politics?
How will America have good relations with Pakistan by having pro Indian officials in his administration?
Pls check this :
https://www.cbsnews.com/news/trump-to-name-kash-patel-as-fbi-director/
Maheshwer Peri
@maheshperi
India's per capita income is $2800.
Excluding Ambani and Adani, it drops to $2700.
Excluding the top 10 individuals, it is $2500.
Exclude the top 200, it is $2150.
Exclude the top 1%, it drops to $1730.
Exclude the top 5%, it sinks to $1130 (per capita income of sub-Saharan Africa).
https://x.com/maheshperi/status/1863578477267722616
IIM graduate startup CEO says 2,000 richest families own 18% of India’s wealth: ‘This is insane’ | Trending - Hindustan Times
https://www.hindustantimes.com/trending/iim-graduate-startup-ceo-says-2-000-richest-families-own-18-of-india-s-wealth-this-is-insane-101736132025805.html
The founder and CEO of Bombay Shaving Company reflected on India’s wealth inequality in a LinkedIn post, calling the gap between the rich and poor “insane.” In his critique of modern work culture, Shantanu Deshpande said economic inequality forces people into jobs they dislike. He said that the majority of Indians work not for job satisfaction but for survival.
Deshpande also claimed that 2,000 families own 18% of India’s wealth while paying only 1.8% of taxes. He said that these families are guilty of promoting the idea that hard work will lead to success because it serves their end goal. HT.com could not independently verify this data.
“Most people don't like their jobs”
“One of the tragic and late realizations I've had is - most people don't like their jobs,” the CEO of Bombay Shaving Company wrote in his LinkedIn post.
“If everyone in India was given sustenance money and financial security their current jobs give them, 99% won't show up to work the next day.”
Deshpande theorised that this dislike for work permeates class and sectors - whether it is gig workers or government employees or professionals in “fun and employee friendly startups” like his very own, most people would quit if they did not have to earn a living.
“Work is a majboori to provide for spouse, children, elderly parents, dependent siblings,” he wrote.
Questioning the inequity
Shantanu Deshpande further said that for centuries, it has been considered normal to tear people away from their families from morning to night, ostensibly to provide for these very families.
More and more, however, he has found himself questioning the logic of such a work culture.
“To usurp someone away from their homes and families all day from morning to night, sometimes for days and weeks, with a hanging carrot of a paycheck - we just assume it's alright to do that cos that's what's been happening for 250+ years.
“That's how nations have been built. So we do it. But increasingly I've found myself questioning the inequity of this,” the founder and CEO wrote on LinkedIn.
Deshpande highlighted the wealth disparity that exists within India.
On the question of wealth inequality, he provided some “insane” statistics. Deshpande said that 18% of national wealth is concentrated among the country’s 2,000 richest families.
He admitted that he was not too sure about the accuracy of the numbers but said that these families definitely don’t pay even 1.8% of taxes.
“2000 families in India own 18% of our national wealth. That's just INSANE. Not sure of the numbers but they definitely do not pay even 1.8% of the taxes,” the IIM graduate founder reflected.
“These families and other 'equity builders' like me (v v miniscule version haha) are guilty of peddling a 'work hard and climb up' narrative because it's self serving of course, but also what other option is there? We don't know any other way,” he added.
World of Statistics
@stats_feed
Poverty rate of South Asian countries
At $2.15/day for extreme poverty:
🇦🇫 Afghanistan: 54.5%
🇧🇩 Bangladesh: 5.01%
🇧🇹 Bhutan: 0%
🇨🇳 China: 0%
🇮🇳 India: 12.92%
🇲🇲 Myanmar: 1.99%
🇳🇵 Nepal: 0.37%
🇵🇰 Pakistan: 4.93%
🇱🇰 Sri Lanka: 0.96%
At $3.65/day for lower middle income:
🇦🇫 Afghanistan: -
🇧🇩 Bangladesh: 30.03%
🇧🇹 Bhutan: 0.47%
🇨🇳 China: 0.05%
🇮🇳 India: 44.05%
🇲🇲 Myanmar: 19.65%
🇳🇵 Nepal: 7.5%
🇵🇰 Pakistan: 39.84%
🇱🇰 Sri Lanka: 11.3%
At $6.85/day for upper middle income:
🇦🇫 Afghanistan: 99.9%
🇧🇩 Bangladesh: 74.1%
🇧🇹 Bhutan: 8.45%
🇨🇳 China: 17.03%
🇮🇳 India: 81.76%
🇲🇲 Myanmar: 68.2%
🇳🇵 Nepal: 44.07%
🇵🇰 Pakistan: 84.53%
🇱🇰 Sri Lanka: 49.35%
Source: World Bank
https://x.com/stats_feed/status/1876275565683978395
https://blogs.worldbank.org/en/opendata/a-higher-standard-of-poverty-in-a-changing-world--the-world-bank
Salam Sir and team of this blog.
Sir I have some bad news for Indians, since last several years I have seen Indian trolls coming on newspages of Pakistan on Facebook and on YouTube channels of Pakistan and bragging about their achievements in economy,education, science, technology and etc
But according to some Indian sources their is a huge reduction in the number of Indian students who are being hired in the companies of USA and West specially those Indian students who have graduated from universities of America.
Following are the details :
Indian students graduating from these America universities have this much acceptance in US organizations and companies for job.
Harvard ----3. 6℅
Columbia -----3. 85℅
Yale ------3. 7℅
Brown -----5. 2℅
And the list goes on, this percentage after each university actually shows the level of acceptance of Indian students who graduate from these top and prestigious universities of America at various companies and organizations in America.
The question arises how valid is the claim of Indian government and Indian media about becoming a super power in the world or even a regional power of Asia?
Sir the other question is that majority of these Indian students who actually graduate from these American universities who are not able to get jobs in these companies in America, is this happening because of the recent political issues which has made India look bad in the eyes of Western people after when the Sikh activist who was assassinated recently in Canada and few other incidents that happened with India in these countries or this rejection of Indian students is actually justified based on their level of competency and skills which they actually have after graduating from these universities?
I am sure these American companies must not be rejecting majority of these Indian students because of recent political issues and development but this rejection must be based on merit .
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