Economy Of India Quotes

As an entrepreneur in India put it: 'Indians have learned from painful experience that the state does not work on behalf of the people. More often than not, it works on behalf of itself.

Hindutava's nationalism ignores the rationalist traditions of India, a country in which some of the earliest steps in algebra, geometry, and astronomy were taken, where the decimal system emerged, where early philosophy — secular as well as religious — achieved exceptional sophistication, where people invented games like chess, pioneered sex education, and began the first systematic study of political economy. The Hindu militant chooses instead to present India — explicitly or implicitly — as a country of unquestioning idolaters, delirious fanatics, belligerent devotees, and religious murderers

India is becoming a large middle income country, too complex and varied to be controlled centrally. The government will need to withdraw from occupying the commanding heights of the economy, confining itself to providing public goods and the governing framework, and leaving economic activity to the people.

In 1775 Asia accounted for 80 per cent of the world economy. The combined economies of India and China alone represented two-thirds of global production. In comparison, Europe was an economic dwarf.3

Deep and liquid markets in a country’s domestic economy are the essential shock absorbers through which the perilous waters of international financial integration can be navigated.

I will make India 20 trillion economy

At the beginning of the eighteenth century, as the British economic historian Angus Maddison has demonstrated, India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent. The reason was simple: India was governed for the benefit of Britain. Britain’s rise for 200 years was financed by its depredations in India.

I thought there might be some grand design I did not understand, but the government’s policy clearly was not working, because India was still poor. I was determined to learn more, so I became interested in economics. This book is another unintended consequence of the government’s policies.

Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don't need to impress people I don't like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don't have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won't last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don't have to seem them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world.

By 2060, India’s economy is projected to be larger than China’s because of its greater population growth. India is forecast to produce about one-quarter of world GDP from 2040 through the rest of this century.

Slow, static populations can afford slow, static economies. We can’t.

Somehow, India needs to make Indians think Rocket Singh is more likely than Guru.

In fact our ideas for the Indian economy have in recent years become more ghettoized than ever.

The Romans knew about India, but were unaware of the Far East until the first century BC when silk began to reach the Mediterranean through the Parthian Empire which ruled in ancient Iran.

In 1775 Asia accounted for 80 per cent of the world economy. The combined economies of India and China alone represented two-thirds of global production. In comparison, Europe was an economic dwarf.

When Kenya became independent in the early 1960s, it was at the same economic level as South Korea. But Kenya took the socialist road and South Korea took the capitalist road. Today South Korea is many times richer than Kenya. Sure, there are important cultural differences between the two countries. But we can also verify the superiority of capitalism to socialism by comparing South Korea with North Korea. Same people, same culture. Yet North Korea remains desperately poor while South Korea is a comparatively rich country. India suffered the same fate as other socialist nations—it had a stagnant economy, and indeed for nearly half a century India was symbolized by the “begging bowl.

The country was passing through turbulent times. British Raj was on its last legs. The World War had sucked the juice out of the British economy. Britain neither had the resources nor the will to hold on to a country the size of India. Sensing the British weakness and lack of resources to rule, different leagues of Indians sniffed different destinies in the air following the imminent exit of the British: a long stretch of Nehru Raj, Hindu Raj extending from Kashmir to Kerala not seen since Emperor Ashoka in third-century BCE before the emperor himself renounced Hinduism and turned a non-violent Buddhist, a Muslim-majority state carved out of two shoulders of India with a necklace-like corridor running through her bosom along Grand Trunk Road, balkanisation of the country with princes ruling the roost, and total chaos. From August 1946 onwards, chaos appeared to be the most likely destiny as it spurted in Bengal, Bihar, and United Provinces, ending in the carnage of minority communities at every place. The predicament of British government was how to cut their losses and run without many British casualties before the inevitable chaos spread to the whole country. The predicament of Muhammad Ali Jinnah, the leader of the Muslim League, was how to achieve his dream of Muslim-majority Pakistan carved out of India before his imminent demise from tuberculosis he suffered from, about which—apart from his doctor—only a handful of his closest relations and friends knew about. The predicament of Jawaharlal Nehru, the heir apparent of the Congress Party anointed by Gandhiji, was how to attain independence of the country followed by Nehru Raj while Gandhiji, a frail 77-year-old at the time, was still alive, for God only knew who would be the leader of the party once Gandhiji’s soul and his moral authority were dispatched to heaven, and Nehru couldn’t possibly leave the crucial decision in the hands of a God he didn’t particularly believe in. Time was of the essence to all the three.

Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don’t have to see them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world.

The failure of India's public institutions to keep pace with the dramatic political, economic and social transformations under way has led to severe gaps in governance. The end result of this disjuncture has been a proliferation of grand corruption - a malaise made up of a diverse array of regulatory, extractive, and political rent-seeking activities.

Customs inspectors could not stop the export of software through telephone lines; labour inspectors could not stop software engineers from talking to customers in America at night; excise inspectors could not harass the IT firms because the government did not levy tax on services. Much like Gurgaon, India’s knowledge economy literally grew at night when the government slept.

The old imperialism had the ‘advantage’ that the leading metropolitan power of the time, Britain, could keep its economy open to the goods of the then newly-industrializing countries, without getting indebted (on the contrary it became the largest capital exporter in the years before the First World War). For at least four decades up to 1928, India had the second largest export surplus in the world (second only to the USA); and this despite the imports of goods that caused domestic de-industrialization. But this export surplus was entirely appropriated by Britain not only to pay for its current account deficit with continental Europe, North America and regions of recent European settlement, but also to allow it to export capital to these regions.

The brahminic Hindus treat even the books written by Dalitbahujans as untouchable. Historically, not only the Dalit body but also books written by Dalit and OBC scholars remained untouchable. That was the reason why untouchability has been imposed on Ambedkar’s theoretical writings for a long time in India. Intellectual untouchability was/is more dangerous than physical untouchability.

The right to issue unlimited quantities of anonymously tradable shares, along with the institution of a liquid market for them, created something new: corporations with power so immense, it dwarfed that of their countries of origin, and could be deployed in faraway places assiduously to exploit people and resources. Shareholding and well-governed share markets fired up history, separating ownership from the rest of the East India Company’s activities unleashed a fluid, irresistible force. Unchecked, the East India Company grew more powerful than the British state, answerable only to its shareholders. At home, its bureaucracy corrupted and largely controlled Her majesty’s government. Abroad, its 200,000-strong private army oversaw the destruction of well-functioning economies in Asia and a number of Pacific islands and ensured the systematic exploitation of their peoples.

Weather patterns in the Pacific were not human-driven, but the futures market in Chicago was. The world had shifted so rapidly from subsistence agriculture to a market economy that price fluctuations sent ripples throughout the system, destabilizing entire regions. Traders could now set off starvation halfway across the world with the touch of a telegraph key, sucking up grain supplies in India or the Dakotas and sending them to Europe, where prices were high. It was the dawn of “price famines.”174

China has some obvious advantages. It’s the one government that, at least for now, can afford to spend huge amounts of money to create unnecessary jobs to avoid political unrest. China’s historic successes suggest this might be the one country that can find a way to adjust, and the aging of its population could be a plus as the country needs fewer jobs in coming years than rival India. We all better hope so, because, month by month, the entire global economy is becoming more dependent on China’s continued stability and growth.

The Western world order has – in its post-1945 idiom – placed a high premium on democracy within nation-states while attaching zero importance to democracy at the global level. As a global order, it has been anti-democratic and highly authoritarian. The emergence of China as the globally dominant nation is very unlikely to usher in a new kind of democratic global governance, but the rise of developing nations like India, Brazil and Russia, along with China, will bring, in a rough and ready way, a far more democratic global economy.

Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties. Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group. In politics, the tail can wag the dog. This can have profound effects on the economy.

When India and China - historically two of the poorest nations in the world - began to make fundamental changes in their economic policies in the late 20th century, their economies began to grow dramatically. It is estimated that about 20 million people in India emerged from homelessness in the course of a decade. In China, the number of people living on a dollar or less a day fell from 374 million in 1990, a third of the country's total population, to 128 million, in 2004, which is equivalent to just 10 percent of a population in China. increase. In other words, nearly 250 million Chinese began to live better as a result of a change in economic policy.

The death knell for silver's monetary role was the end of the Franco-Prussian war, when Germany extracted an indemnity of £200 million in gold from France and used it to switch to a gold standard. With Germany now joining Britain, France, Holland, Switzerland, Belgium, and others on a gold standard, the monetary pendulum had swung decisively in favor of gold, leading to individuals and nations worldwide who used silver to witness a progressive loss of their purchasing power and a stronger incentive to shift to gold. India finally switched from silver to gold in 1898, while China and Hong Kong were the last economies in the world to abandon the silver standard in 1935.

13 million Indians will join the workforce every year from now till 2030. They know their prospects aren’t good. Here’s why: in the years from 1972 to 1983—not celebrated as a time of overwhelming prosperity—the total number of jobs in the economy nevertheless grew 2.3 per cent a year. In the years between liberalization in 1991 and today, jobs have grown at an average of only 1.6 per cent a year. But, if these young people have to be absorbed, then jobs must grow at least 3 per cent a year—almost twice the rate at which they have since liberalization. This is simply not happening. In other words, one out of every two youngsters who starts looking for a job next year won’t find one.

And that’s when it got ugly. Many of the colder countries were what you used to call “First World.” One of the delegates from a prewar “developing” country suggested, rather hotly, that maybe this was their punishment for raping and pillaging the “victim nations of the south.” Maybe, he said, by keeping the “white hegemony” distracted with their own problems, the undead invasion might allow the rest of the world to develop “without imperialist intervention.” Maybe the living dead had brought more than just devastation to the world. Maybe in the end, they had brought justice for the future. Now, my people have little love for the northern gringos, and my family suffered enough under Pinochet to make that animosity personal, but there comes a point where private emotions must give way to objective facts. How could there be a “white hegemony” when the most dynamic prewar economies were China and India, and the largest wartime economy was unquestionably Cuba? How could you call the colder countries a northern issue when so many people were just barely surviving in the Himalayas, or the Andes of my own Chile? No, this man, and those who agreed with him, weren’t talking about justice for the future. They just wanted revenge for the past. [Sighs.] After all we’d been through, we still couldn’t take our heads from out of our asses or our hands from around each other’s throats.

Idealistic socialists in the West usually will tell you that 'socialism' is anything other than what actual socialist governments have achieved in the real world. What is important to keep in mind is that socialism is not a particular set of political conditions, but a specific kind of economic arrangement. Socialism is not identical with left-wing politics, and socialism is not confined to the Left. The various kinds of political systems that have arisen from socialist economies, from Soviet authoritarianism to India’s 'license raj,' are in no small part responses to the inadequacies and contradictions inherent in socialist systems of production and distribution—systems that seek to ignore or to subvert the laws of economics.

His reading habit was so varied that in his early teens, he was reading both Maxim Gorky’s Mother and the detective thrillers (Jasoosi Duniya) of Ibn-e-Safi. The detective thrillers—be it Indian or American pulp fiction—were a big favourite for their fast action, tight plots and economies of expression. He remembers the novels of Ibn-e-Safi for their fascinating characters with memorable names. ‘Ibn-e-Safi was a master at naming his characters. All of us who read him remember those names . . . There was a Chinese villain, his name was Sing Hi. There was a Portuguese villain called Garson . . . an Englishman who had come to India and was into yoga . . . was called Gerald Shastri.’ This technique of giving catchy names to characters would stay with him. The wide range of reading not only gave him the sensitivity with which progressive writers approached their subjects but also a very good sense of plot and speaking styles. Here, it would be apt to quote a paragraph from Ibn-e-Safi’s detective novel, House of Fear—featuring his eccentric detective, Imran. The conversation takes place just outside a nightclub: ‘So, young man. So now you have also starred frequenting these places?’ ‘Yes. I often come by to pay Flush,’ Imran said respectfully. ‘Flush! Oh, so now you play Flush . . .’ ‘Yes, yes. I feel like it when I am a bit drunk . . .’ ‘Oh! So you have also started drinking?’ ‘What can I say? I swear I’ve never drunk alone. Frequently I find hookers who do not agree to anything without a drink . . .’ This scene would find a real-life parallel as well as a fictional one in Javed’s life later. Javed

Today Hindu revivalists, pious Muslims, Japanese nationalists and Chinese communists may declare their adherence to very different values and goals, but they have all come to believe that economic growth is the key to realising their disparate goals. Thus in 2014 the devout Hindu Narendra Modi was elected prime minister of India thanks largely to his success in boosting economic growth in his home state of Gujarat, and to the widely held view that only he could reinvigorate the sluggish national economy. Analogous views have kept the Islamist Recep Tayyip Erdoğan in power in Turkey since 2003. The name of his party – the Justice and Development Party – highlights its commitment to economic development, and the Erdoğan government has indeed managed to maintain impressive growth rates for more than a decade.

Men trained under Dr Keate and similar pedagogues made our England what it is, and extended the blessings of our civilisation to the benighted heathen in India and Africa. I do not wish to belittle this achievement, and I am not sure that it would have been possible by any other method with the same economy of effort. Its products, owing to a certain Spartan toughness and to a complete incapacity for intellectual doubt, acquired the qualities needed by an imperial race among the backward peoples. They were able to pass on the stern rule to which they had been subjected in youth, and to avoid the realisation that what they supposed to be their education had starved the intelligence and the emotions in order to strengthen the will. In America a similar result was achieved by Puritanism while it remained vigorous.

Today Hindu revivalists, pious Muslims, Japanese nationalists and Chinese communists may declare their adherence to very different values and goals, but they have all come to believe that economic growth is the key to realising their disparate goals. Thus in 2014 the devout Hindu Narendra Modi was elected prime minister of India thanks largely to his success in boosting economic growth in his home state of Gujarat, and to the widely held view that only he could reinvigorate the sluggish national economy. Analogous views have kept the Islamist Recep Tayyip Erdoğan in power in Turkey since 2003. The name of his party – the Justice and Development Party – highlights its commitment to economic development, and the Erdoğan government has indeed managed to maintain impressive growth rates for more than a decade. Japan’s prime minister, the nationalist Shinzō Abe, came to office in 2012 pledging to jolt the Japanese economy out of two decades of stagnation. His aggressive and somewhat unusual measures to achieve this have been nicknamed Abenomics. Meanwhile in neighbouring China the Communist Party still pays lip service to traditional Marxist–Leninist ideals, but in practice is guided by Deng Xiaoping’s famous maxims that ‘development is the only hard truth’ and that ‘it doesn’t matter if a cat is black or white, so long as it catches mice’. Which means, in plain language: do whatever it takes to promote economic growth, even if Marx and Lenin wouldn’t have been happy with it. In Singapore, as befits that no-nonsense city-state, they pursue this line of thinking even further, and peg ministerial salaries to the national GDP. When the Singaporean economy grows, government ministers get a raise, as if that is what their jobs are all about.2

If we talked about crimes like these and why they are so common, we’d have to talk about what kinds of profound change this society, or this nation, or nearly every nation needs. If we talked about it, we’d be talking about masculinity, or male roles, or maybe patriarchy, and we don’t talk much about that. Instead, we hear that American men commit murder- suicides—at the rate of about twelve a week—because the economy is bad, though they also do it when the economy is good; or that those men in India murdered the bus rider because the poor resent the rich, while other rapes in India are explained by how the rich exploit the poor; and then there are those ever-popular explanations: mental problems and intoxicants—and for jocks, head injuries. The latest spin is that lead exposure was responsible for a lot of our violence, except that both genders are exposed and one commits most of the violence.

Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don’t need to impress people I don’t like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don’t have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won’t last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don’t have to see them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world.

When Ayatollah Khamenei needs to make a crucial decision about the Iranian economy, he will not be able to find the necessary answer in the Quran, because seventh-century Arabs knew very little about the problems and opportunities of modern industrial economies and global financial markets. So he, or his aides, must turn to Karl Marx, Milton Friedman, Friedrich Hayek, and the modern science of economics to get answers. Having made up his mind to raise interest rates, lower taxes, privatize government monopolies, or sign an international tariff agreement, Khamenei can then use his religious knowledge and authority to wrap the scientific answer in the garb of this or that Quranic verse and present it to the masses as the will of Allah. But the garb matters little. When you compare the economic policies of Shiite Iran, Sunni Saudi Arabia, Jewish Israel, Hindu India, and Christian America, you just don’t see that much of a difference.

Too many countries now rely on food imports, and self-sufficiency in all raw materials is impossible even for the largest countries because no country possesses sufficient reserves of all minerals needed by its economy. The UK and Japan import more food than they produce, China does not have all the iron ore it needs for its blast furnaces, the US buys many rare earth metals (from lanthanum to yttrium), and India is chronically short of crude oil.[91] The inherent advantages of mass-scale manufacturing preclude companies from assembling mobile phones in every city in which they are purchased. And millions of people will still try to see iconic distant places before they die.[92] Moreover, instant reversals are not practical, and rapid disruptions could come only with high costs attached. For example, the global supply of consumer electronics would suffer enormously if Shenzhen suddenly ceased to function as the world’s most important manufacturing hub of portable devices.

To begin with, even though the rich countries have low average protection, they tend to disproportionately protect products that poor countries export, especially garments and textiles. This means that, when exporting to a rich country market, poor countries face higher tariffs than other rich countries. An Oxfam report points out that 'The overall import tax rate for the USA is 1.6 percent. That rate rises steeply for a large number of developing countries: average import taxes range from around four per cent for India and Peru, to seven per cent for Nicaragua, and as much as 14-15 percent for Bangladesh, Cambodia and Nepal. As a result, in 2002, India paid more tariffs to the US government than Britain did, despite the fact that the size of its economy was less than one-third that of the UK. Even more strikingly, in the same year, Bangladesh paid almost as much in tariffs to the US government as France, despite the fact that the size of its economy was only 3% that of France.

I also worried about her morale. During Linda’s first season working for Amazon, she had seen up close the vast volume of crap Americans were buying and felt disgusted. That experience had planted a seed of disenchantment. After she left the warehouse, it continued to grow. When she had downsized from a large RV to a minuscule trailer, Linda had also been reading about minimalism and the tiny house movement. She had done a lot of thinking about consumer culture and about how much garbage people cram into their short lives. I wondered where all those thoughts would lead. Linda was still grappling with them. Weeks later, after starting work in Kentucky, she would post the following message on Facebook and also text it directly to me: Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don’t need to impress people I don’t like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don’t have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won’t last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don’t have to see them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world. After sending that, she continued: Radical I know, but this is what goes through my head when I’m at work. There is nothing in that warehouse of substance. It enslaved the buyers who use their credit to purchase that shit. Keeps them in jobs they hate to pay their debts. It’s really depressing to be there. Linda added that she was coping

Bollywood's economic workings are more mysterious. It still exists in what was known as the informal and high-risk sector of the Indian economy. Banks rarely invest in Bollywood, where moneylenders are rampant, demanding up to 35 percent interest. The big corporate houses seem no less keen to stay away from filmmaking. A senior executive with the Tatas, one of India's prominent business families, told me, "We went into Bollywood, made one film, lost a lot of money, and got out of it fast," adding that "the place works in ways we couldn't begin to explain to our shareholders." Since only six or seven of the two hundred films made each year earn a profit, the industry has generated little capital of its own. The great studios of the early years of the industry are now defunct. It is outsiders- regular moneylenders, small and big businessmen, real estate people, and, sometimes, mafia dons- who continue to finance new films, and their turnover, given the losses, is rapid. Their motives are mixed: sex, glamour, money laundering, and, more optimistically, profit. They rarely have much to do with the desire to make original, or even competent, films.

We hear all this talk about integrating the world economically, but there is an argument to be made for not integrating the world economically. Because what is corporate globalization? It isn't as if the entire world is intermeshed with each other. It's not like India and Thailand or India and Korea or India and Turkey are connected. It's more like America is the hub of this huge cultural and economic airline system. It's the nodal point. Everyone has to be connected through America, and to some extent Europe. When powers at the hub of the global economy decide that you have to be X or Y, then if you're part of that network, you have to do it. You don't have the independence of being nonaligned in some way, politically or culturally or economically. If America goes down, then everybody goes down. If tomorrow the United States decides that it wants these call center jobs back, then overnight this billion-dollar industry will collapse in India. It's important for countries to develop a certain degree of economic self-sufficiency. Just in a theoretical sense, it's important for everybody not to have their arms wrapped around each other or their fingers wrapped around each others' throats at all times, in all kinds of ways.

THE GLOBE | Unlocking the Wealth in Rural Markets Mamta Kapur, Sanjay Dawar, and Vineet R. Ahuja | 151 words In India and other large emerging economies, rural markets hold great promise for boosting corporate earnings. Companies that sell in the countryside, however, face poor infrastructure, widely dispersed customers, and other challenges. To better understand the obstacles and how to overcome them, the authors—researchers with Accenture—conducted extensive surveys and interviews with Indian business leaders in multiple industries. Their three-year study revealed several successful strategies for increasing revenues and profits in rural markets: Start with a good distribution plan. The most effective approaches are multipronged—for example, adding extra layers to existing networks and engaging local partners to create new ones. Mine data to identify prospective customers. Combining site visits, market surveys, and GIS mapping can help companies discover new buyers. Forge tight bonds with channel partners. It pays to spend time and money helping distributors and retailers improve their operations. Create durable ties with customers. Companies can build loyalty by addressing customers’ welfare and winning the trust of community leaders.

With China and Russia, the ideological contrast is clearer. Putin, the commandant of a petro-state that also happens to be, given its geography, one of the few nations on Earth likely to benefit from continued warming, sees basically no benefit to constraining carbon emissions or greening the economy—Russia’s or the world’s. Xi, now the leader-for-life of the planet’s rising superpower, seems to feel mutual obligations to the country’s growing prosperity and to the health and security of its people—of whom, it’s worth remembering, it has so many. In the wake of Trump, China has become a much more emphatic—or at least louder—green energy leader. But the incentives do not necessarily suggest it will make good on that rhetoric. In 2018, an illuminating study was published comparing how much a country was likely to be burdened by the economic impacts of climate change to its responsibility for global warming, measured by carbon emissions. The fate of India showcased the moral logic of climate change at its most grotesque: expected to be, by far, the world’s most hard-hit country, shouldering nearly twice as much of the burden as the next nation, India’s share of climate burden was four times as high as its share of climate guilt. China is in the opposite situation, its share of guilt four times as high as its share of the burden. Which, unfortunately, means it may be tempted to slow-walk its green energy revolution. The United States, the study found, presented a case of eerie karmic balance: its expected climate damages matching almost precisely its share of global carbon emissions. Not to say either share is small; in fact, of all the nations in the world, the U.S. was predicted to be hit second hardest.

HISTORICAL NOTE There are no nuclear power stations in Belarus. Of the functioning stations in the territory of the former USSR, the ones closest to Belarus are of the old Soviet-designed RBMK type. To the north, the Ignalinsk station, to the east, the Smolensk station, and to the south, Chernobyl. On April 26, 1986, at 1:23:58, a series of explosions destroyed the reactor in the building that housed Energy Block #4 of the Chernobyl Nuclear Power Station. The catastrophe at Chernobyl became the largest technological disaster of the twentieth century. For tiny Belarus (population: 10 million), it was a national disaster. During the Second World War, the Nazis destroyed 619 Belarussian villages along with their inhabitants. As a result of Chernobyl, the country lost 485 villages and settlements. Of these, 70 have been forever buried underground. During the war, one out of every four Belarussians was killed; today, one out of every five Belarussians lives on contaminated land. This amounts to 2.1 million people, of whom 700,000 are children. Among the demographic factors responsible for the depopulation of Belarus, radiation is number one. In the Gomel and Mogilev regions, which suffered the most from Chernobyl, mortality rates exceed birth rates by 20%. As a result of the accident, 50 million Ci of radionuclides were released into the atmosphere. Seventy percent of these descended on Belarus; fully 23% of its territory is contaminated by cesium-137 radionuclides with a density of over 1 Ci/km2. Ukraine on the other hand has 4.8% of its territory contaminated, and Russia, 0.5%. The area of arable land with a density of more than 1 Ci/km2 is over 18 million hectares; 2.4 thousand hectares have been taken out of the agricultural economy. Belarus is a land of forests. But 26% of all forests and a large part of all marshes near the rivers Pripyat, Dniepr, and Sozh are considered part of the radioactive zone. As a result of the perpetual presence of small doses of radiation, the number of people with cancer, mental retardation, neurological disorders, and genetic mutations increases with each year. —“Chernobyl.” Belaruskaya entsiklopedia On April 29, 1986, instruments recorded high levels of radiation in Poland, Germany, Austria, and Romania. On April 30, in Switzerland and northern Italy. On May 1 and 2, in France, Belgium, the Netherlands, Great Britain, and northern Greece. On May 3, in Israel, Kuwait, and Turkey. . . . Gaseous airborne particles traveled around the globe: on May 2 they were registered in Japan, on May 5 in India, on May 5 and 6 in the U.S. and Canada. It took less than a week for Chernobyl to become a problem for the entire world. —“The Consequences of the Chernobyl Accident in Belarus.” Minsk, Sakharov International College on Radioecology The fourth reactor, now known as the Cover, still holds about twenty tons of nuclear fuel in its lead-and-metal core. No one knows what is happening with it. The sarcophagus was well made, uniquely constructed, and the design engineers from St. Petersburg should probably be proud. But it was constructed in absentia, the plates were put together with the aid of robots and helicopters, and as a result there are fissures. According to some figures, there are now over 200 square meters of spaces and cracks, and radioactive particles continue to escape through them . . . Might the sarcophagus collapse? No one can answer that question, since it’s still impossible to reach many of the connections and constructions in order to see if they’re sturdy. But everyone knows that if the Cover were to collapse, the consequences would be even more dire than they were in 1986. —Ogonyok magazine, No. 17, April 1996

Except then a local high school journalism class decided to investigate the story. Not having attended Columbia Journalism School, the young scribes were unaware of the prohibition on committing journalism that reflects poorly on Third World immigrants. Thanks to the teenagers’ reporting, it was discovered that Reddy had become a multimillionaire by using H-1B visas to bring in slave labor from his native India. Dozens of Indian slaves were working in his buildings and at his restaurant. Apparently, some of those “brainy” high-tech workers America so desperately needs include busboys and janitors. And concubines. The pubescent girls Reddy brought in on H-1B visas were not his nieces: They were his concubines, purchased from their parents in India when they were twelve years old. The sixty-four-year-old Reddy flew the girls to America so he could have sex with them—often several of them at once. (We can only hope this is not why Mark Zuckerberg is so keen on H-1B visas.) The third roommate—the crying girl—had escaped the carbon monoxide poisoning only because she had been at Reddy’s house having sex with him, which, judging by the looks of him, might be worse than death. As soon as a translator other than Reddy was found, she admitted that “the primary purpose for her to enter the U.S. was to continue to have sex with Reddy.” The day her roommates arrived from India, she was forced to watch as the old, balding immigrant had sex with both underage girls at once.3 She also said her dead roommate had been pregnant with Reddy’s child. That could not be confirmed by the court because Reddy had already cremated the girl, in the Hindu tradition—even though her parents were Christian. In all, Reddy had brought seven underage girls to the United States for sex—smuggled in by his brother and sister-in-law, who lied to immigration authorities by posing as the girls’ parents.4 Reddy’s “high-tech” workers were just doing the slavery Americans won’t do. No really—we’ve tried getting American slaves! We’ve advertised for slaves at all the local high schools and didn’t get a single taker. We even posted flyers at the grade schools, asking for prepubescent girls to have sex with Reddy. Nothing. Not even on Craigslist. Reddy’s slaves and concubines were considered “untouchables” in India, treated as “subhuman”—“so low that they are not even considered part of Hinduism’s caste system,” as the Los Angeles Times explained. To put it in layman’s terms, in India they’re considered lower than a Kardashian. According to the Indian American magazine India Currents: “Modern slavery is on display every day in India: children forced to beg, young girls recruited into brothels, and men in debt bondage toiling away in agricultural fields.” More than half of the estimated 20.9 million slaves worldwide live in Asia.5 Thanks to American immigration policies, slavery is making a comeback in the United States! A San Francisco couple “active in the Indian community” bought a slave from a New Delhi recruiter to clean house for them, took away her passport when she arrived, and refused to let her call her family or leave their home.6 In New York, Indian immigrants Varsha and Mahender Sabhnani were convicted in 2006 of bringing in two Indonesian illegal aliens as slaves to be domestics in their Long Island, New York, home.7 In addition to helping reintroduce slavery to America, Reddy sends millions of dollars out of the country in order to build monuments to himself in India. “The more money Reddy made in the States,” the Los Angeles Times chirped, “the more good he seemed to do in his hometown.” That’s great for India, but what is America getting out of this model immigrant? Slavery: Check. Sickening caste system: Check. Purchasing twelve-year-old girls for sex: Check. Draining millions of dollars from the American economy: Check. Smuggling half-dead sex slaves out of his slums in rolled-up carpets right under the nose of the Berkeley police: Priceless.

Bitcoin is not a currency. Bitcoin is the internet of money. As a technology, it can bring economic inclusion and empowerment to billions of people in the world. I’ll give you one example of a specific application that is going to fundamentally change the lives of more than a billion people in the next five to ten years. ​ Every day, an immigrant somewhere cashes their paycheck and stands in line to wire 50 percent of that paycheck back to their home country to feed their extended family. Here in the US, 60 million people have no bank accounts, yet they cash their paychecks and send them abroad. Overall in the world, $550 billion is transmitted every year as remittances from first-world countries. Much of that money is sent to five major destinations: Mexico, India, the Philippines, Indonesia, and China. In some of these places, remittances represent up to 40 percent of the local economy. Sitting on top of that flow of $550 billion are companies like Western Union, and they take, on average, a cut of 9 percent of every single one of these transactions out of the pockets of the poorest people of the world. Imagine what happens when one day one of these immigrants figures out they can do the same thing with bitcoin — not for 15 percent, not 10 percent, not 5 percent, but for 5 cents. Not a percentage; a flat fee. What happens when they can do that? They can, right now. There is a startup company that is handling remittances between the US and the Philippines. They’re doing a few million dollars right now, but they’re going to start growing. There’s $500 billion sitting behind that dam. When you’re an immigrant and you can change your financial future by not paying 9 percent to send money home, imagine what happens if every month, instead of sending 91 dollars home, you send 100 dollars home. That makes a difference. There are a billion people, right now, with access to the internet and feature phones who could use bitcoin as an international wire-transfer service.

Think about it,” Obama said to us on the flight over. “The Republican Party is the only major party in the world that doesn’t even acknowledge that climate change is happening.” He was leaning over the seats where Susan and I sat. We chuckled. “Even the National Front believes in climate change,” I said, referring to the far-right party in France. “No, think about it,” he said. “That’s where it all began. Once you convince yourself that something like that isn’t true, then…” His voice trailed off, and he walked out of the room. For six years, Obama had been working to build what would become the Paris agreement, piece by piece. Because Congress wouldn’t act, he had to promote clean energy, and regulate fuel efficiency and emissions through executive action. With dozens of other nations, he made climate change an issue in our bilateral relationship, helping design their commitments. At international conferences, U.S. diplomats filled in the details of a framework. Since the breakthrough with China, and throughout 2015, things had been falling into place. When we got to Paris, the main holdout was India. We were scheduled to meet with India’s prime minister, Narendra Modi. Obama and a group of us waited outside the meeting room, when the Indian delegation showed up in advance of Modi. By all accounts, the Indian negotiators had been the most difficult. Obama asked to talk to them, and for the next twenty minutes, he stood in a hallway having an animated argument with two Indian men. I stood off to the side, glancing at my BlackBerry, while he went on about solar power. One guy from our climate team came over to me. “I can’t believe he’s doing this,” he whispered. “These guys are impossible.” “Are you kidding?” I said. “It’s an argument about science. He loves this.” Modi came around the corner with a look of concern on his face, wondering what his negotiators were arguing with Obama about. We moved into the meeting room, and a dynamic became clear. Modi’s team, which represented the institutional perspective of the Indian government, did not want to do what is necessary to reach an agreement. Modi, who had ambitions to be a transformative leader of India, and a person of global stature, was torn. This is one reason why we had done the deal with China; if India was alone, it was going to be hard for Modi to stay out. For nearly an hour, Modi kept underscoring the fact that he had three hundred million people with no electricity, and coal was the cheapest way to grow the Indian economy; he cared about the environment, but he had to worry about a lot of people mired in poverty. Obama went through arguments about a solar initiative we were building, the market shifts that would lower the price of clean energy. But he still hadn’t addressed a lingering sense of unfairness, the fact that nations like the United States had developed with coal, and were now demanding that India avoid doing the same thing. “Look,” Obama finally said, “I get that it’s unfair. I’m African American.” Modi smiled knowingly and looked down at his hands. He looked genuinely pained. “I know what it’s like to be in a system that’s unfair,” he went on. “I know what it’s like to start behind and to be asked to do more, to act like the injustice didn’t happen. But I can’t let that shape my choices, and neither should you.” I’d never heard him talk to another leader in quite that way. Modi seemed to appreciate it. He looked up and nodded.

Indian Express (Indian Express) - Clip This Article at Location 721 | Added on Sunday, 30 November 2014 20:28:42 Fifth column: Hope and audacity Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Tavleen Singh | 807 words At the end of six months of the Modi sarkar are we seeing signs that it is confusing efficiency with reform? I ask the question because so far there is no sign of real reform in any area of governance. And, because some of Narendra Modi’s most ardent supporters are now beginning to get worried. Last week I met a man who dedicated a whole year to helping Modi become Prime Minister and he seemed despondent. When I asked how he thought the government was doing, he said he would answer in the words of the management guru Peter Drucker, “There is nothing quite so useless as doing with great efficiency something that should not be done at all.” We can certainly not fault this government on efficiency. Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. The Prime Minister’s Office hums with more noise and activity than we have seen in a decade but, despite this, there are no signs of the policy changes that are vital if we are to see real reform. The Planning Commission has been abolished but there are many, many other leftovers from socialist times that must go. Do we need a Ministry of Information & Broadcasting in an age when the Internet has made propaganda futile? Do we need a meddlesome University Grants Commission? Do we need the government to continue wasting our money on a hopeless airline and badly run hotels? We do not. What we do need is for the government to make policies that will convince investors that India is a safe bet once more. We do not need a new government that simply implements more efficiently bad policies that it inherited from the last government. It was because of those policies that investors fled and the economy stopped growing. Unless this changes through better policies, the jobs that the Prime Minister promises young people at election rallies will not come. So far signals are so mixed that investors continue to shy away. The Finance Minister promises to end tax terrorism but in the next breath orders tax inspectors to go forth in search of black money. Vodafone has been given temporary relief by the courts but the retroactive tax remains valid. And, although we hear that the government has grandiose plans to improve the decrepit transport systems, power stations and ports it inherited, it continues to refuse to pay those who have to build them. The infrastructure industry is owed more than Rs 1.5 lakh continued... crore in government dues and this has crippled major companies. No amount of efficiency in announcing new projects will make a difference unless old dues are cleared. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Does he know that a police check is required even if you just want to get a few pages added to your passport? Does he know how hard it is to do routine things like registering property? Does he know that no amount of efficiency will improve healthcare services that are broken? No amount of efficiency will improve educational services that have long been in terminal decline because of bad policies and interfering officials. At the same time, the licence raj that strangles private investment in schools and colleges remains in place. Modi’s popularity with ordinary people has increased since he became Prime Minister, as we saw from his rallies in Kashmir last week, but it will not la

The development-minded prime minister is looking for foreign capital and technology to boost India’s economy. China’s stock of direct investment of $400m in India is derisory—less than that of Belgium. Talk fills the Indian press of a 250-fold increase, to $100 billion in just a few years.

Somehow no really terrible Western ideas like, say, witch-burning or communism ever get mentioned, though they seem just as plausibly the products of Judaeo-Christian culture as the spirit of capitalism. In any case, while culture may instil norms, institutions create incentives. Britons versed in much the same culture behaved very differently depending on whether they emigrated to New England or worked for the East India Company in Bengal. In the former case we find inclusive institutions, in the latter extractive ones.

What economists and political scientists today call the “rational choice of individuals,” but what Smith called “the individual pursuit of happiness,” leads according to this view in a mechanical way to general welfare. As Alexander Pope in his Essay on Man put it: “true Self Love and Social are the same.” While this is the foundation of liberal capitalism, Marx’s dialectical materialism is not different in its selection of the economy as the prime mover. In this way the economy becomes the most important purpose of society. Fortunately, the economy has laws of causation, or, at least, that is what economists would like us to believe. Statistics are gathered to provide an objectified view of reality that enables social engineering. The individual and the collective are simultaneously put in an economic framework that is secular not in the sense that it is nonreligious, since individuals can rationally pursue religious ends, but in the sense that a God-given order of society has been replaced by an order that is constantly produced by homo economicus” (p. 41).

India Version 2.0 was now up and running. Indians championed their nation as a global superpower, expounding its potential to overtake everyone as the fastest-growing economy. Yet for all its advances and progression, this was still a country where, in a village in Orissa, a 2-year-old boy could be married off to a dog called Jyoti to ward off evil spirits and ease the bad omen of his rotting tooth.

The vision of 100% electronic cash has already been bounced around for many years but few people truly see this as a 2020 reality. In a workshop in India, it was highlighted that ‘people will always need cash for the black economy and in many countries that is significant’. In

What's your economic forecast for 2015? The world's improving. The U.S. economy is going to grow a little faster than last year, though probably a little weaker in the first quarter. Europe's going to be incrementally better, because they've fixed their banking crisis. They've benefited from a very weakened euro. And then you have economies like India, which was stagnating at around 5-ish percent GDP growth a year ago, and now they're going to receive the benefit of lower oil prices. That's going to add at least 1 percent to India's GDP. Prime Minister Narendra Modi's reforms will probably add 1 or 2 percent more growth to overcome all the weakness in China.

The nature of the moment is familiar but bears repeating: whether or not industrialized countries begin deeply cutting our emissions this decade will determine whether we can expect the same from rapidly developing nations like China and India next decade. That, in turn, will determine whether or not humanity can stay within a collective carbon budget that will give us a decent chance of keeping warming below levels that our own governments have agreed are unacceptably dangerous. In other words, we don’t have another couple of decades to talk about the changes we want while being satisfied with the occasional incremental victory. This set of hard facts calls for strategy, clear deadlines, dogged focus—all of which are sorely missing from most progressive movements at the moment. Even more importantly, the climate moment offers an overarching narrative in which everything from the fight for good jobs to justice for migrants to reparations for historical wrongs like slavery and colonialism can all become part of the grand project of building a nontoxic, shockproof economy before it’s too late.

The Lima merchant's correspondent in Mexico City was Simon Vaez de Sevilla.16 Vaez de Sevilla had associates in Manila (who provided him with Asian commodities), Oaxaca (who provided him with cochineal), and Guatemala (who provided him with cacao and tobacco).17 All these goods were thus made available to the Lima merchant and were regularly sent down to Peru along the Pacific route or through Cartagena de Indias. Bautista Perez also depended on a number of suppliers-Diego Rodriguez de Lisboa, Enrique de Andrade, and Agustin Perez-in Lisbon and Seville to send him a range of European goods for sale in Lima and throughout Peru. Each of these suppliers had his own network of associates and correspondents on whom he, in turn, relied for provisioning. Given their location in what were two of the great European entrepots of the time, these Lisbon- and Seville-based merchants were often able to purchase on the spot the goods requested by Bautista Perez. They simply had to make the necessary arrangements with local brokers and merchants who specialized in bringing textiles and manufactured goods from the wider European economy (see Figure 4.1).18

Human society cannot remain immune to the dominant values—of competitiveness and aggression, greed and covetousness—required by a ‘successful’ industrial economy.

Interestingly, Jockey’s first attempt to enter India wasn’t with the Genomals. It was with Associated Apparels in 1962. Through the 1960s, many foreign innerwear brands were launched in India. Associated Apparels introduced the then world-famous Maidenform bras (owned today by Hanes) and tied up with Jockey to launch Jockey underwear in 1962. The international brand, Lovable, entered India in 1966 through a licensing deal and became a huge success. Along with it entered the brand Daisy Dee, through a subsidiary of Lovable, followed by Feelings. In 1971, Maxwell Industries launched VIP-branded innerwear for men in the economy segment, catching the attention of the discerning public with an advertisement featuring a Bollywood actor. In 1973, however, Jockey decided to leave India after the Indian government used the Foreign Exchange Regulation Act (FERA) to force multinational companies to dilute their ownership in their Indian ventures to 40 per cent. After Jockey exited India, its competitors flourished. Associated Apparels continued to focus on mid-premium innerwear during the 1980s and was successful in establishing themselves as a dominant player in the mid-premium innerwear segment through Liberty (men) and Libertina (women). Maxwell Industries, during the 1980s, launched the brand, Frenchie, to cater to the mid-premium innerwear segment. In 1985, Rupa & Co. emerged in the innerwear market, offering products across categories, including men, women and kids, and became one of the biggest manufacturers and sellers of innerwear in India. The success of Rupa was followed by many other domestic brands in the 1980s and ’90s, including Amul, Lux Cozi and Dollar in the men’s category, while Neva, Bodycare, Softy, Lady Care, Little Lacy, Red Rose, Sonari, Feather Line, etc., were the key players in the lingerie market. Then came the liberalization of 1991. With the regulatory hurdles to enter India removed, Jockey decided to return to India. And this time, it chose the right partners.

In 2004, India was doing extraordinarily well. The middle class had begun to look to the West for its reference points. Foreign companies rushed to invest in the economy. Commentators removed the old hyphenation of India-Pakistan and began a new one: India-China.

This is how we tend to learn about world history: as discrete civilizations that developed on their own over time. Now imagine a different kind of museum, one organized solely by era. You could stroll through a gallery, for example, and see a Roman silver denarius coin, a bronze coin from China’s Han dynasty, and a punch-marked coin from India’s Mauryan Empire. You would see right away that three major civilizations were going through remarkably similar changes at roughly the same time, despite the vast distance between them: each had become an empire, and each was running an economy based upon coin currency.

GOI News, a pioneer in the field of India News, provides updates and information related to Government of India and Prime Minister Narendra Modi, Business News, Economy News etc.

Digital Economy In India Is Among The Top 7 Modern Social Transfromation and Wealth Creation Opportunity Since Industrial Revolution In Europe In 1740

The impact of the internet on economic development is shifting in two important directions. First, given the aging population and near-saturated market penetration in the advanced economies, most of the expansion of the internet related market will take place in developing countries like Pakistan, India, and Bangladesh. Secondly, the globalization of the internet is expected to increase the share of developing countries in the internet economy presenting a historic opportunity for the young and poor in Pakistan to improve their economic condition.

If we’d got the economy on the right track, nothing else would have mattered in 2014. It wasn’t corruption or scams, it was the economy which destroyed us in the general elections.

The saturated Chinese market — more than 800 million people there use smartphones, according to IDC — means fewer new buyers, and a slowing economy means less spending. So Chinese companies are turning to India, trying to catch a $14.5 billion market on the way up.

Well, there are ways and ways of getting your hands on the small shareholder’s cash. Consider Suzuki’s way: it takes a large amount of money out of Maruti Suzuki and sends it to itself in Japan—but not as a dividend, which all the minority shareholders would have to examine and agree with, but as ‘royalty’ for using the Suzuki name. You think anyone still buys a Maruti car because of the Suzuki name? Maybe one or two people—enough to justify Rs 2454 crore going off to Japan in 2012–13? Thought not. Just to rub it in, do note that the amount that Suzuki ‘earned’ from the rights to its storied name in India was more than the conglomerate’s entire profits for that year in Japan, Rs 2402 crore. For that matter, the royalty was also higher than Maruti’s own profits, of Rs 2392 crore. One begins to suspect that the company is overpaying.

The era of the Privatization of Everything has made the Indian economy one of the fastest growing in the world. However, as with any good old-fashioned colony, one of its main exports is its minerals. India’s new megacorporations, Tatas, Jindals, Essar, Reliance, Sterlite, are those that have managed to muscle their way to the head of the spigot that is spewing money extracted from deep inside the earth.9 It’s a dream come true for businessmen—to be able to sell what they don’t have to buy.

Yet India’s economy looks rather less handsome in one regard: the finances of many of its companies and the public-sector banks that fund them are in rotten shape.

This is the kind of corruption we understand, the corruption of the petty clerk writ large, and so this is the kind of corruption we look for. This is the kind of guilt we expect and understand: personal, targeted, involving suitcases. We really need suitcases.

The combination of internal controls and international protectionism gave India a distorted economy, underproductive and grossly inefficient, making too few goods, of too low a quality, at too high a price. The resultant stagnation led to snide comments about what Indian economist Raj Krishna called the “Hindu rate of growth,” which averaged some 3.5 percent in the first three decades after independence (or, to be more exact, between 1950 and 1980) when other countries in Southeast Asia were growing at 8 to 15 percent or even more.

Indian companies also had clear and numerous weaknesses. The most important ones were the inability to separate ownership from management; a lack of focus and business strategy; a short-term approach to business, leading to an absence of investment in employees and in product development; insensitivity to the customer, largely because of uncompetitive markets, but resulting in weak marketing skills; an indifference to technology; and, lastly, poor teamwork. Many of these weaknesses were the result of a closed economy.

Aditya told me that he produced staple fiber in Thailand from pulp that he bought in Canada. He sent the fiber to his factory in Indonesia for converting to yarn. He exported the yarn to Belgium, where it was made into carpets, and finally, the carpet was exported to Canada. “Here is Aditya Birla,” I thought, “an Indian, and yet India does not figure in this global value-added chain.” It did not because India had closed its economy. By closing it, it denied its citizens the chance to participate in the enormous expansion in global trade in the second half of the twentieth century. It denied its people jobs, technology, knowledge, and new ways of organizing. Thus, it deliberately suppressed economic growth.

Millions of Nepalese have swelled the armies of cheap mobile labour that drive the global economy, serving in Indian brothels, Thai and Malaysian sweatshops, the mansions of oil sheikhs in the Gulf, and, most recently, the war zones of Iraq. Many more have migrated internally, often from the hills to the subtropical Tarai region on the long border with India. The Tarai produces most of the country's food and cash crops and accommodates half of its population. On its flat alluvial land, where malaria was only recently eradicated, the Buddha was born twenty-five hundred years ago; it is also where a generation of displaced Nepalese began to dream of revolution.

Changes in population growth and productivity growth can require decades to take effect, but clearly they can affect countries’ economic growth rates. In the 20th century, the U.S. surpassed Europe as an economic power. Then Japan seemed to sprint forward in the 1970s and 1980s, threatening to take over the world, until the late ’80s, when it fell back into negligible growth. The emerging markets—and especially China—were the site of rapid growth over the last few decades, and while their growth is slower at the moment, they may well outgrow the developed world in the next few decades. India has human resources that can make it a rapid-growth economy if it can increase its efficiency and reduce corruption. And frontier nations like Nigeria and Bangladesh stand behind the emerging nations, waiting for their turn as rapid growers.

On the subcontinent, Pakistan has passed the point where solar power is cheaper than a lot of electricity that comes from diesel generators,and India is upping its target from 20 to 33 gigawatts to be installed by 2020

In playwriting there is a conception known as “Chekhov’s gun”: if there is rifle hanging above the mantelpiece in Act One, it’s going to be fired at someone by the end of Act Five. In the regulatory, enforcement and legal landscape around loan recoveries in India over last decade, the unused rifle usually disappears by Act Three, hence not credible since all stakeholders know about the preordained vanishing act. Investment in policy and regulatory integrity requires staying the course there is no other way.

India's political economy is replete with tales of how things did not happen. The lament is preceded by the ubiquitous 'if only', about how solutions were thought of but the ideas did not translate into action.

Deprived of their direct ties with Central Asia -- and with it their access to Turkish slaves, mercenaries and war horses -- the later Ghaznavids lost their wider, imperial vision an acquired the character of a regional, North Indian state. They were certainly not seen as menacing aliens who might have posed a civilzational threat to Indian culture. Contemporary Sanskrit inscriptions refer to the Ghaznavids not as Muslims but as 'turushkas' (Turks), an ethnic term, or as 'hammiras', a Sanskritized rendering of 'amir' (Arabic for commander), an official title. For their part, in the eleventh and twelfth centuries Ghaznavid rulers in India issued coins from Lahore bearing the same legends that had appeared on those of their Indian predecessors, the Hindu Shahi dynasty (c.850-1002). These included Śiva's bull Nandi and the Sanskrit phrase 'śri samanta deva' (Honourable Chief Commander) inscribed in Devanagari script. Such measures point to the later Ghaznavids' investment in establishing cultural and monetary continuity with North Indian kingsdoms. Moreover, despite the dynasty's rhetoric about defending Sunni Islam, religion posed no bar to military recruitment, as Indians had always been prominent in Ghaznavid armies. In 1033 Mahmud of Ghazni gave the command of his army stationed in Lahore to a Hindu general, and in Ghazni itself Indian military contingents had their own commanders, inhabited their own quarter of the city, and were generally considered more reliable soldiers than the Turks. Crucially, the Ghaznavids brought to the Punjab the entire gamut of Persianate institutions and practices that would define the political economy of much of India for centuries to come. Inherited from the creative ferment of tenth-century Khurasan and Central Asia under the Samanid rulers of Bukhara, these included: the elaboration of a ranked and salaried bureaucracy tied to the state's land revenue and military systems; the institution of elite, or military, slavery; an elaboration of the office of 'sultan'; the courtly patronage of Persian arts, crafts and literature; and a tradition of spiritually powerful holy men, or Sufis, whose relations with royal power were ambivalent, to say the least.

But the Company, far from helping Mir Jafar, was actively engaged in undermining the economy which sustained him, so helping wring the neck of the Bengali goose which had been laying such astonishing golden eggs. After Plassey, unregulated private English traders began fanning out across Bengal, taking over markets and asserting their authority in a way that had been impossible for them before the Revolution. By 1762, at least thirty-three of these private businesses had set themselves up in more than 400 new British trading posts around the province.

The collapse of solidarity and security for many western European working people after the 1970s was compounded by the postwar flood of Third World immigrants into western Europe. When times were good, the immigrants were welcome to do the dirty jobs that the national labor force now spurned. When Europeans began to face long-term structural unemployment for the first time since the Great Depression, however, immigrants became unwelcome. Moreover, European immigration had changed. Whereas earlier immigrants had come from southern or eastern Europe and differed only slightly from their new hosts (with the notable and significant exception of Jews from eastern Europe in the 1880s and the 1930s), the new immigrants came from former colonial territories: North and sub-Saharan Africa, the Caribbean, India, Pakistan, and Turkey. And whereas earlier immigrants (some Jews again excepted) had tended to assimilate quickly and disappear, the new immigrants often clung to visibly different customs and religions. Europeans had to learn to coexist with permanent African, Indian, and Islamic communities that flaunted their separate identities. The immigrant threat was not only economic and social. The immigrants were seen increasingly as undermining national identity with their alien customs, languages, and religions. A global youth culture, mostly marketed by Americans and often associated with black performers, did to local cultural traditions what the global economy had done to local smokestack industry. Anti-immigrant resentment was pay dirt for radical Right movements in western Europe after the 1970s. It was the main force behind the British National Front. The most successful of them—Jean-Marie Le Pen’s Front National in France and Jörg Haider’s Freiheitspartei in Austria—were almost entirely devoted to exploiting anti-immigrant fears, fighting multiculturalism and an alleged immigrant criminal propensity, and proposing the expulsion of the alien poor.

For most of the Middle Ages, the economic nerve center of the world economy and the source of its most dramatic financial innovations was neither China nor India, but the West, which, from the perspective of the rest of the world, meant the world of Islam.

India has the highest number of young people in the world. When they become employed, the country's financial health wil be improved dramatically.

economists like Sachs view reality from a sanitary thirty-thousand-foot distance, not at a grassroots level where social entrepreneurs sweat over spreadsheets. The amazing gains in global poverty alleviation are primarily the result of mushroom explosions in the economies of India and China. Very little change has taken place in sub-Saharan Africa or Latin America.

The year prior, in an attempt to expand mobile banking and demonetize the country’s gray-market economy, India recalled 86 percent of its cash.

India will become 3 trillion dollar economy in 5 years

These initiatives established the first direct contacts between Chinese civilization and the urbanized kingdoms of ancient Transoxiana, Afghanistan, India and Iran. This was the origin of the Central Asian Silk Routes which created an unprecedented growth in international commerce that enhanced and enriched distant regimes, including Rome.

The impressive performance of the Indian economy in the 2004-08 period and its ability to withstand the immediate impact of the Lehmann collapse contributed to India’s global standing and to Dr Singh’s global image. Leaving the London G-20 summit in April 2009, President Barack Obama went to Germany where a young school student asked him which politician he admired. Obama’s instant reply was that among existing world leaders he admired Dr Singh of India the most.

I believe that women in rural India needs right tools on the right time for accelerating the growth of economy.

Welcome to the Haryana tenders website! Tenders info is regarded as one of the most reliable sources for Haryana tenders knowledge across all industries, authorities, municipalities, public and private tenders. Haryana is India's fifth most prosperous state in terms of per capita income. IT, manufacturing, agriculture, and the dairy industry are all significant contributors to the state's economy.

Africa, I believe, is embarking upon an era of sharp divergences in which China will play a huge role in specific national outcomes—for better and for worse, perhaps even dramatically, depending on the country. Places endowed with stable governments, with elites that are accountable and responsive to the needs of their fellow citizens, and with relatively healthy institutions, will put themselves in a position to thrive on the strength of robust Chinese demand for their exports and fast-growing investment from China and from a range of other emerging economic powers, including Brazil, Turkey, India, and Vietnam. Inevitably, most of these African countries will be democracies. Other nations, whether venal dictatorships, states rendered dysfunctional by war, and even some fragile democracies—places where institutions remain too weak or corrupted—will sell off their mineral resources to China and other bidders, and squander what is in effect a one-time chance to convert underground riches into aboveground wealth by investing in their own citizens and creating new kinds of economic activity beyond today’s simple extraction. The proposition at work here couldn’t be more straightforward. The timeline for resource depletion in many African countries is running in tandem with the timeline for the continent’s unprecedented demographic explosion. At current rates, in the next forty years, most African states will have twice the number of people they count now. By that same time, their presently known reserves of minerals like iron, bauxite, copper, cobalt, uranium, gold, and more, will be largely depleted. Those who have diversified their economies and invested in their citizens, particularly in education and health, will have a shot at prosperity. Those that haven’t, stand to become hellish places, barely viable, if viable at all.

The combined economies of India and China alone represented two-thirds of global production. In comparison, Europe was an economic dwarf.3

Indeed, in many agricultural regions — including northern China, southern India (as well as the Punjab), Mexico, the western United States, parts of the Middle East, and elsewhere — water may be much more of a constraint to future food production than land, crop yield potential, or most other factors. Developing and distributing technologies and practices that improve water management is critical to sustaining the food production capability we now have, much less increasing it for the future. Water-short Israel is a front-runner in making its agricultural economy more water-efficient. Its current agricultural output could probably not have been achieved without steady advances in water management — including highly efficient drip irrigation, automated systems that apply water only when crops need it, and the setting of water allocations based on predetermined optimum water applications for each crop. The nation’s success is notable: between 1951 and 1990, Israeli farmers reduced the amount of water applied to each hectare of cropland by 36 percent. This allowed the irrigated area to more than triple with only a doubling of irrigation water use.37 Whether

India, under Mughal Emperor Aurangzeb, accounts for 27 per cent of the world economy.

the British economic historian Angus Maddison has demonstrated, India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent.

Se estimează că în anul 2025 în China vor exista 219 orașe cu peste un milion de locuitori, în comparație cu 35 în întreaga Europă. 319 Creșterea Chinei a afectat aproape întregul mapamond. China se îmbuibă cu minerale și terenuri în Africa, Mongolia, America Latină și Australia. Datorită prețului redus al mâinii de lucru în China, Occidentul a primit o avalanșă uriașă de produse ieftine, ceea ce contribuie la punerea pe butuci a firmelor de aici. În consecință, China are un portofoliu uriaș de exporturi cu care, după cum evidențiază scriitorul Jonathan Fenby, ,,ar putea achiziționa întreaga Italie sau acoperi întreaga datorie a Portugaliei, Irlandei, Greciei și Spaniei din 2011, plus valoarea firmelor Google, Apple, IBM și Microsoft, la care se adaugă toate proprietățile imobiliare din Manhattan și Washington DC, plus cele mai valoroase 50 de francize sportive din lume“. 320 În 2010, China a avut un excedent comercial față de Statele Unite egal cu 273 miliarde de dolari. În istorie nu a existat niciodată o situație importantă în care o putere economică subiacentă să nu sufere o mutație similară, devenind o mare putere în plan politic și, în general, militar. Țările pot deține în prealabil pentru o vreme dominația datorită unei armate exagerate și avansate din punct de vedere tehnic, după ce avantajul ei economic a intrat pe pantă descendentă. Regatul Unit al Marii Britanii și al Irlandei de Nord a trecut prin acest proces la începutul secolului XX. America trece acum prin această etapă. Costurile acesteia sunt însă ridicate: energia și avuția care puteau fi folosite pentru întărirea unei economii sunt cheltuite pe angajamente externe. Economia americană este în continuare de patru ori mai mare decât a Chinei, dar ratele de creștere ale Chinei recuperează din handicap într-un ritm impresionant. Studii recente au arătat că în 2020 China ar putea depăși Statele Unite, iar 30 de ani mai târziu ar putea avea o economie dublă ca dimensiune față de cea a Statelor Unite. 321 Prin urmare, puterea Chinei va aduce o schimbare enormă în lume. Liderii chinezi pretind în continuare suveranitatea asupra Taiwanului, precum și asupra unor mici insule din Marea Chinei de Sud, și refuză să recunoască protestele din țară sau din Tibet privind abuzurile la adresa drepturilor omului. Dimensiunea din ce în ce mai mare a flotei militare chinezești a produs un val de neliniște în regiune, din Australia și Filipine până în Vietnam și în India. Conducătorii comuniști ai Chinei, care în prezent nu mai alcătuiesc un front la fel de unit ca odinioară, se confruntă cu cele mai mari probleme pe plan intern, fiind nevoiți să asigure o creștere ridicată și constantă pentru a păstra

In the 1970s, Mumbai (then Bombay) was a whirl of motion, noise and colour. A million kirana stores lined the streets (this hasn’t changed much), with honking Ambassador cars, trolley buses and autos jockeying with cycles for space on the narrow roads. There was music, art, literature. People with big ideas and hopes for the future. Then, as now, the city was a crucible for a young entrepreneur with a dream. As a boy, I soaked in every aspect of vibrant Mumbai like my life depended on it. Back then, India was much more a manufacturing and agricultural economy, and I paid special attention to the economics of business—how family businesses

the Altered States Economy totals out to roughly $4 trillion a year. That’s a sizable chunk of our income that we annually tithe to the Church of the Ecstatic. We spend more on this than we do on maternity care, humanitarian aid, and K–12 education combined.” It’s larger than the gross national product of Britain, India, or Russia. And to really put this in perspective, it’s twice as many dollars as there are known galaxies in the entire