A lot of people are very optimistic about India's prospects for the future - but there seem to be some very significant problems which will not be easy to address.
India's GDP per capita is only around $1,800. The average household income is only about $8,600. GDP growth is already below 10%, and seems to be slowing even further. 750m of India's 1.25bn people are not in the labour force - and of the 500m in the labour force, hundreds of millions of them work in jobs which will be automatable within a decade or two - Westerners won't be using sweatshop workers in India to make their T-shirts and low-quality electronics when robots can produce superior goods in North America for an even lower price.
More than 60% of Indians don't even have *access* to a toilet (http://indianexpress.com/article/india/india-news-india/india-has-60-4-per-cent-people-without-access-to-toilet-study/) - let alone their own toilet - and the average IQ of Indians is about 82 (IQ and Global Inequality - Richard Lynn).
This doesn't look good. So why are people so optimistic about India?
industrializing a shithole, investors looking for china 2.0
reality is that this will not happen until a chinese economic collapse to force a lot of companies to move
>>1361155
But is industrialising India really going to be possible? The problems seem to be very bad; potentially unresolvable. How do you industrialise such a populous country with such a low average IQ? At least in China, the average IQ is around 100 - and the starting condition was not as low as that of India.
>>1361155
And of course, China didn't have over 1.25bn people when industrialisation started.
>>1361132
People saw how successful China has been and just assumed the same would happen to India. I doubt India will come anywhere near that kinda of success, though. Ignoring their public sanitation problems, they're still struggling to shed the baggage of the caste system and have an enormous skills shortage. Their government also hasn't shown any signs of being capable of dealing with these issues. Say what you will about China's government, but at least they get shit done.
>>1361132
India's biggest boom industry will be toilets.
>>1361165
How smart do you have to be to work in a foundry?
>>1361185
I would imagine 90 would be around the bare minimum for that.
Foundries will be automated quite soon anyway.
>>1361174
All miming aside, is there really much point in bothering to provide them with basic sanitation at this point? It looks like it's going to be a total disaster; like they'll all just die from starvation or something once we no longer need to buy cheap shit from them because we've got robots.
>>1361405
memeing*
>>1361165
These Chinese under authoritarian government are a huge asset. They can be controlled and directed.
India is just one gigantic fucking mess, and I doubt they will ever attain what China has.
>>1361408
No one would have understood if you didn't correct it, thank you famalam.
You know all of those businesses that moved their manufacturing to China? They're pivoting to India right now. India's markets are more open to direct investment. You do the math.
>>1361432
That's because India allows them to dump their waste by products directly into the river
Even China has limits on what it will allow for slave labor and pollution. India just says fuck it and anything goes.
Is this thread fucking infested with China shills or something?
>>1361132
the bullish case is that it is the worlds largest democracy, etc, and as a democracy, they will eventually get their shit together and make it an easier place to do business. this seems like wishful thinking to me.
i work at an investment management firm, and i fucking hate india.
an institutional investor has to have a license/permit to invest in india. some countries require it - it is usually pretty simple - brazil is totally fucked up, but all you need are some forms and signatures from your local consul (which is usually in the back room of a bodega or tire shop or something).
india, though, makes you wait fucking ages and tens of thousands of dollars to get a foreign institutional investor license for india. the corruption is so pervasive and extends to every layer of society.
no other country comes close in terms of making it difficult for people to invest millions or billions of dollars. it will remain totally fucked until they are no longer a society of small time and big time grifters.
the problem with the "democracy" thesis is that the parties are not especially competitive on policies or ideas - it's all ethnic/religious nonsense. their elections look more like elections in nigeria than an actual, functioning country.
>>1361169
Yeah this is true, although, China learned real quick by the 70s-80s that the Maoist Communism wasn't going to work in the long run and they ended up becoming a capitalist economy run by a communist government. India however, is still running in some parts of their society with ancient BCE-era caste systems and social behaviors which is a pretty big issue to work through unlike in China.
>>1361443
Found the dirty squatting Indian
