No space for another export-led China: Raghuram Rajan

confuzzled dude wrote:http://indianexpress.com/article/business/economy/make-in-india-should-not-merely-focus-on-manufacturing-raghuram-rajan/

Did he call Modiji an idiot (or a copycat)?!

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:http://indianexpress.com/article/business/economy/make-in-india-should-not-merely-focus-on-manufacturing-raghuram-rajan/

Did he call Modiji an idiot (or a copycat)?!

Same thing was said about the SE which was trying to copy the Japs. Chinese were told the same thing when they tried to copy Singapore in the 80s. Agree..there is no space for another one, but each one replaces the previous one for most part.

Besides, to depend on the Indian market - which clamors for phoren made items, one has to control and tax the imports. That is not possible with WTO running the world. The mistake was/is to allow China to be a member as a "developING" nation with all the benefits of a vastly underdeveloped country. Now, that is unheard of and should be reevaluated.

P.S. he probably called Madam Mohan Singh ji an idiot or preparing to rejoin U of Chicago next Fall.

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:http://indianexpress.com/article/business/economy/make-in-india-should-not-merely-focus-on-manufacturing-raghuram-rajan/

Did he call Modiji an idiot (or a copycat)?!

Same thing was said about the SE which was trying to copy the Japs. Chinese were told the same thing when they tried to copy Singapore in the 80s. Agree..there is no space for another one, but each one replaces the previous one for most part.

Besides, to depend on the Indian market - which clamors for phoren made items, one has to control and tax the imports. That is not possible with WTO running the world. The mistake was/is to allow China to be a member as a "developING" nation with all the benefits of a vastly underdeveloped country. Now, that is unheard of and should be reevaluated.

P.S. he probably called Madam Mohan Singh ji an idiot or preparing to rejoin U of Chicago next Fall.

He was right on the money about mindless pandering to FDI in any sector with no-concern for safeguarding nation's interest or future; this sell-out to foreign corporations is not a long term solution.

Vakavaka Pakapaka wrote:Modi is not doing what CD is suggesting. Rajan is not criticizing Modi either; he is simply saying that making FOR India should be a significant component in the development agenda. Modi doesn't disagree with that. As Uppili points out, the average Indian is now conscious of quality and will buy imported stuff if the locals can't provide.   

Modi wants to simplify the tax system, improve the infrastructure, expand power generation and distribution, and make it easy to do business in India, etc. All these are helpful in making FOR India as well.

When CBN was putting a lot of emphasis on IT, many in India thought that he was not doing much for local business and people. Now we know how IT has generated a lot of revenue and transformed the mindset of everyone in India.

Just have some patience (and diminish your hatred for Modi and CBN). India is changing. You don't want to be left behind or out.

Soon, people will throw crap at Sonia and Pappu if they say, Garibi Hatao. Digvijaya will be abandoned by Amrita and no female lawyer will seek Abhishek Manu Singhvi's help for promotions. Laloo will attend to his cows, Nitish will be forgotten, Mamata will be treated for mental problems, Mulayam will go to Varanasi and do a bhajan at Viswanatha temple. K'nidhi will die a disappointed man, your young friend Jagan will have decades to regret his bad behavior and Maya will hug her elephant statues and cry when Dalit youth abandon her.

Propagandhi711 wrote:spinning what rajan said as a dig at modi's policies requires some seriously creative lateral thinking. and lack of comprehension/interpretation skills. comrade blog-o-intellectual has both in spades

confuzzled dude wrote:

Propagandhi711 wrote:spinning what rajan said as a dig at modi's policies requires some seriously creative lateral thinking. and lack of comprehension/interpretation skills. comrade blog-o-intellectual has both in spades

of course, of course, ignoramuses like me have been waiting for our resident economist Amartya Rajan's expert opinion on this matter. Now that he did India & SuCH are in very good shape.

Hellsangel wrote:

confuzzled dude wrote:

Propagandhi711 wrote:spinning what rajan said as a dig at modi's policies requires some seriously creative lateral thinking. and lack of comprehension/interpretation skills. comrade blog-o-intellectual has both in spades

of course, of course, ignoramuses like me have been waiting for our resident economist Amartya Rajan's expert opinion on this matter. Now that he did India & SuCH are in very good shape.

I don't know about that. But you sure overdosed on some of this.

confuzzled dude wrote:

Hellsangel wrote:

confuzzled dude wrote:

Propagandhi711 wrote:spinning what rajan said as a dig at modi's policies requires some seriously creative lateral thinking. and lack of comprehension/interpretation skills. comrade blog-o-intellectual has both in spades

of course, of course, ignoramuses like me have been waiting for our resident economist Amartya Rajan's expert opinion on this matter. Now that he did India & SuCH are in very good shape.

I don't know about that. But you sure overdosed on some of this.

Of course, you wouldn't. You also wouldn't have anything to say about that severe case of inferiority complex sufferer who often feels the need to let everyone know that he is superior to others.

Hellsangel wrote:

confuzzled dude wrote:

Hellsangel wrote:

confuzzled dude wrote:

Propagandhi711 wrote:spinning what rajan said as a dig at modi's policies requires some seriously creative lateral thinking. and lack of comprehension/interpretation skills. comrade blog-o-intellectual has both in spades

of course, of course, ignoramuses like me have been waiting for our resident economist Amartya Rajan's expert opinion on this matter. Now that he did India & SuCH are in very good shape.

I don't know about that. But you sure overdosed on some of this.

Of course, you wouldn't. You also wouldn't have anything to say about that severe case of inferiority complex sufferer who often feels the need to let everyone know that he is superior to others.

If you are trying to take a dig at DUT, he never claimed any superiority. But if you feel inferior to him and feel the need to lash out, knock yourself out.

confuzzled dude wrote:

Hellsangel wrote:

confuzzled dude wrote:

Hellsangel wrote:

confuzzled dude wrote:
of course, of course, ignoramuses like me have been waiting for our resident economist Amartya Rajan's expert opinion on this matter. Now that he did India & SuCH are in very good shape.

I don't know about that. But you sure overdosed on some of this.

Of course, you wouldn't. You also wouldn't have anything to say about that severe case of inferiority complex sufferer who often feels the need to let everyone know that he is superior to others.

If you are trying to take a dig at DUT, he never claimed any superiority. But if you feel inferior to him and feel the need to lash out, knock yourself out.

Of course! of course! just as you never gossip.

After more than three months since its official announcement, the ‘Make in India’ initiative has failed to provide any concrete push to India’s manufacturing or exports.

Presentations made by various ministries to the Prime Minister and Finance Minister were not encouraging. It sounded like a pre-budget presentation that each ministry makes to the finance minister.

It was the same old recipe of asking for tax breaks or concessions to boost manufacturing. For increasing defence production rather than being thankful of government’s effort for indigenisation the ministry has asked for a tax holiday. Besides hiking FDI limit in defence sector there is a demand to give financial incentives to make India attractive for big defence companies.

Oil ministry proposed a development cess should be levied to help the oil sector. Import duty on steel is being proposed to be increased to help local steel industries. It was proposed that steel should be excluded from free trade agreements. To boost exports of precious metals, like gold, it was proposed that import duty on them could be reduced.

If this is what the government calls ‘Make in India’ incentives, they are nothing but repackaging of old ideas. There is no out of the box thinking or a genuine long term vision by any of the ministries in their proposal. Tax breaks and concessions are the oldest trick in town of incentivising a sector.

If ‘Make in India’ has to be a success industry has to have the visibility that their produce is sold in the market. With global economies not showing any signs of picking up the market will have to be created in India itself.