Instability in the Indian economy

US and India to boost defense and technology cooperation as China threat grows | CNN

 

shootings? one of the primary elements of their 1996 agreements is that guns or explosives would not be permitted near the borders to prevent excalation beyond hand to hand combat.

 

Only tangentially related. But dropping this here…
Hindu mobs, enraged by conversions, attack Christians in India

Speaks to hoe far they still have to go culturally to get to first world status. Not that ewe are perfect in this regard.

 

losses of over $110B so far. SOunds like DT run type of business where they had small private office with inexperienced, but licensed, auditors rubber stamping anything the company gave them. short dude is crushing them. smaller investors in India are livid..

India's Adani crisis spills over into street protests as losses top $110 bln | Reuters

NEW DELHI, Feb 6 (Reuters) - The crisis engulfing the Adani Group intensified on Monday as hundreds of members of India's opposition parties took to the streets to press for a probe into allegations by a U.S. short-seller against the conglomerate which triggered its market rout.

Shares in billionaire Gautam Adani's companies have been in free-fall since a Jan. 24 critical report by Hindenberg Research, with group cumulative market losses now topping $110 billion, sparking fears of wider financial contagion.

 

The protests from the opposition party aren’t because a business is failing, it’s because the government (and close friend Modi) invested heavily in it and are losing billions. This is one of the reasons, when people talk India being a world economic power, they should pause.
Poor oversight, far too much interaction between the private and public sectors…not nearly enough independent media to probe such things (journalists who question the powerful there often end up like their Mexican counterparts), and a relatively immature stock sector with a less educated investing class.
Long term, this might spur some reforms though, which is a good thing. Short term this is a massive embarrassment for their government, private sector and their publicly stated goals.

 

To further the point about journalists there. Really surprising this doesn't get more press here.

India among most dangerous countries for journalists, says media watchdog Reporters Without Borders

 

Good read on the issues facing a India’s democracy under Modi.

Opinion | The World’s Biggest Democracy Is Jettisoning Freedom and Tolerance

 

Boeing lands massive Air India order, but still loses out to Airbus
Hopefully, this is one of many business pacts between the US and India and also hopefully this rejuvenates Air India which was one of the premier airlines in the world in the 60s. A classic story of how government interference and takeover of the airlines in the 1970s reduced it to a joke. One of the better decisions by the current Modi government is to return it to the private sector to Tata industries. Tata was the original founder of Air India and its owner Ratan Tata is one of the most respected and loved businessmen in India. His group bought Jaguar Land Rover in 2008. Here’s a fascinating story of Air India.
Air India: The iconic maharajah returns home

 

This Modi dude is a bad dude. He’s what we can expect if DeSatan ever gains the White House

BBC India offices searched by income tax officials

 

Leave it to Goldman Sachs to state that India's economy will surpass the U.S. by 2075. G.S. also recently made claims that the Chinese economy was doing well as it was going down in flames. It seems like G.S. will believe anything any foreign government tells them--they're extremely gullible. G.S. is sticking to its guns that China's economy will surpass the U.S. in the next few years, even though their economy is retreating rapidly.

I just find it hard to make those kind of predictions for any country that has as many infrastructure problems as India has. The last time I was driving around India, I noted that the cars and trucks had to share the road with motorcycles, scooters, tuk-tuks, bicycles, pedestrians, dogs, cows, 10'-deep potholes, and areas flooded 15-18" deep. And that's in the capital, less than a mile from the presidential palace. India also seems to have some trust issues, based on the amount of security almost everywhere (the hotel x-rays your luggage every time you enter the hotel with it).

And logically, it isn't likely that India and China can share the top two spots. India is taking a lot of jobs from China right now. It's a zero-sum game: when one wins, the other loses. And other countries like Vietnam, Thailand, and Malaysia are looking to take jobs from both of these countries.

India to surpass US to become world's second-largest economy by 2075: Goldman Sachs (yahoo.com)