* HOW WE SEE INDIAN ECONOMY IN CURRENT SCENARIO
9/3/2013 5:59 PM: Abhishek: Guys New subject – “How you see Indian Economy in current scene.” 9/3/2013 6:00 PM: Abhishek: “Worse to Threatening – How and in what manners” or
9/3/2013 6:00 PM: Abhishek: “Opportunity – How and Which sense”.
9/3/2013 6:01 PM: Abhishek: I am expecting everyone input. Thanks
9/3/2013 8:26 PM: Chetash: Indian Economy is on a Toss.
Dollar is appreciating like Anything.
GDP is a big problem.
Sensex, Reporate, Foreign Reserve, Hedging all is not under control.
9/3/2013 8:27 PM: Chetash: Politics here plays an important role as v r hearing that everything is preplanned. Elections are on d way so before Elections come everything will b on track.
9/3/2013 8:28 PM: Chetash: Another Ray of Hope is newly Appointed Governor- Mr. Raghuram Rajeevan…Too Smart, well experienced nd dynamic…Everyone is hoping to bring Economy in a good shape.
9/3/2013 8:29 PM: Chetash: Meanwhile Hello Mr. Vinit….Chetash from Ahmedabad…
9/3/2013 8:33 PM: Abhishek: Chetash, pls let’s try to stick with main question. That may help us in contributing in country success.
9/3/2013 8:35 PM: Chetash: Abhishekshekbhai…..As I stated where Economy is heading, factors behind that and A Ray of Hope.
9/3/2013 8:37 PM: Chetash: Also as a part Liquidity has been controlled in the Market and also FDI are no more wud b investing in our Market.
9/3/2013 8:37 PM: Abhishek: How u see this condition ‘a worse/Threat’ or ‘An opportunity’ and How you see that
9/3/2013 8:40 PM: Chetash: I think it wud b as one sees – It could be an opportunity for many and many will see as a Threat…
9/3/2013 8:40 PM: Abhishek: What u see share that, and how
9/3/2013 8:41 PM: Chetash: In 2003 – There was d same situation but post that there was time when everyone capitalized…It is like a Bell- Curve and we r right now on the Top…Once this get over there will b good time ahead.
9/3/2013 8:43 PM: Chetash: Currently Cash is d king in this kind of Market…D one who has excess Cash will see this as a opportunity… Especially in terms of Sensex and Currency market.
9/3/2013 8:43 PM: Abhishek: Understand, but a specific question need specific answer. So make ur thoughts and share.
9/3/2013 8:44 PM: Abhishek: So u think if a business lack cash, dead for now.
9/3/2013 8:53 PM: Abhishek: Chetash- go ahead u always put points, which help ownself and others to see these critically.
9/3/2013 9:15 PM: Chetash: No if Business lack Cash they will not b dead — Point here is they will lack White Money nd to avail the same they will have to incur more cost , As they will bear more cost they will pass the same to suppliers nd to end to Customers like us.
9/3/2013 9:18 PM: Abhishek: So do u see this is a good time or bad time for businessman.
9/3/2013 9:23 PM: Chetash: Businessman are facing Bad time where there is competition… Like I know one Businessman who has monopoly in his Business is having good time.
9/3/2013 9:32 PM: Rajeev: Looking at current situation it can be look forward as short term and long term
9/3/2013 9:33 PM: Rajeev: Short term would be 3 to 5 yr
9/3/2013 9:36 PM: Rajeev: Short term seems to be worst and a major threat for Indian economy
9/3/2013 9:37 PM: Rajeev: As I do not see any positive sign or hope in shorter term
9/3/2013 9:38 PM: Rajeev: Except good mansion this yr
9/3/2013 9:38 PM: Rajeev: Except good mansoon this year
9/3/2013 9:41 PM: Rajeev: But that single factor cannot be considered strong enough to push economy on required level
9/3/2013 9:46 PM: Abhishek: Would v define short term 3-5 yrs
9/3/2013 9:48 PM: Abhishek: And do u really think it will 3-5 yrs to see improvement
9/3/2013 9:57 PM: Rajeev: Yes
9/3/2013 9:58 PM: Rajeev: It would take minimum this much tenure to come up above the curve
9/3/2013 9:59 PM: Rajeev: Till that time it’s going to be worst
9/3/2013 10:36 PM: Abhishek: And just curious what made u think so?
9/3/2013 10:38 PM: Rajeev: Resin being current account deficit, for which recently some majors has been taken to cover up
9/3/2013 10:39 PM: Rajeev: But its huge will take longer to cover up and further it will require not action from regulatory
9/3/2013 10:40 PM: Abhishek: Yeah we have deficit but how it’s estimated to cover that in 3 yrs?
9/3/2013 10:41 PM: Rajeev: It will not be covered in 3 year but surely come down to a required level based upon current action plan if same continues
9/3/2013 10:45 PM: Abhishek: Frankly V r not doing bad if v just compare with previous yrs.
9/3/2013 10:46 PM: Abhishek: V all r thinking as it seems and people are carrying.
9/3/2013 10:47 PM: Abhishek: This is really a good time “Country Economic correction”
9/3/2013 10:48 PM: Abhishek: Which is called “Detox”
9/3/2013 10:51 PM: Abhishek: Correction is different from Economic trouble.
9/3/2013 10:51 PM: Abhishek: There r several reasons for same.
9/3/2013 10:52 PM: Abhishek: I strongly believe this is an Opportunity time, and just requiring to Plan.
9/3/2013 10:53 PM: Abhishek: A true businessman never see a bad time to business but he/she change plans.
9/3/2013 10:53 PM: Abhishek: Let’s have Shail and Nalin opinion before it gets a big tail.
9/4/2013 12:37 AM: Nalin: India is divided into two parts…90% of population is not aware about any economic slowdown or boom..
9/4/2013 12:37 AM: Abhishek: Agree
9/4/2013 12:38 AM: Nalin: city like jodhpur don’t know whether there is any crisis in the world…they r indifferent in both situation….
9/4/2013 12:40 AM: Nalin: only metro cities people generally understand….and got horrified or happy…in these situations..
9/4/2013 12:43 AM: Nalin: For individual e.g….I will horrified in crisis as chances of job loss and happy in boom…expecting more bonus…
9/4/2013 12:44 AM: Nalin: So we need to see how metro and non metro people r different..
9/4/2013 12:47 AM: Nalin: For e.g….I m in metro..during boom I have borrowed beyond my capacity..expecting I will get same pace of bonus and increment..now during crisis I m in panic….
9/4/2013 12:49 AM: Nalin: So I m into crisis and responsible..
9/4/2013 12:49 AM: Nalin: Same rule apply for country and econony..
9/4/2013 12:50 AM: Abhishek: Perectly, u understood well.
9/4/2013 12:50 AM: Abhishek: So this is the ground touching time not breaking.
9/4/2013 12:51 AM: Nalin: U r my guru..
9/4/2013 12:51 AM: Abhishek: V can’t upset for the things we hype abt.
9/4/2013 12:52 AM: Abhishek: FII’s works like Credit cards- a toxic leverage
9/4/2013 4:53 PM: Vinit: To me current situation is a wake up call and it can go in either direction depending on what measures are made.
9/4/2013 4:55 PM: Vinit: The economy growth has come under 5% compared to 8-9% few years back. It is falling consistently.
9/4/2013 4:56 PM: Abhishek: Yes
9/4/2013 4:57 PM: Vinit: Probably the big question is what india has got to offer to rest of the world
9/4/2013 4:57 PM: Abhishek: Frankly our industrial prod (incl Service sectors) are not upto 7-9 range.
9/4/2013 4:58 PM: Abhishek: It needs lots of infra devlopments inside country (not only physical but by Monetary+Fiscal policies.
9/4/2013 4:59 PM: Abhishek: France kind of country gets a high chunk of Forex out of Tourism, on the other hand v r scarring Foreign visitors with frequent insecurities.
9/4/2013 5:00 PM: Abhishek: Curruption is very close to urge.
9/4/2013 5:01 PM: Abhishek: Lot of, v used to be 2nd biggest mfg in the world. Definately several yrs back
9/4/2013 5:01 PM: Abhishek: Remember Krishi pradhan desh
9/4/2013 5:06 PM: Vinit: It will be difficult to attract foreign investment for several reason
9/4/2013 5:07 PM: Vinit: US economy is improving
9/4/2013 5:08 PM: Abhishek: Frankly several cos r interested (not true for Investors), but our Policies and their frequent changes beat them hard against their wishes.
9/4/2013 5:08 PM: Vinit: Other countries like brazil have potential for better economy growth and will attract investment
9/4/2013 5:08 PM: Vinit: That is true.
9/4/2013 5:09 PM: Abhishek: US Eco- growth rate couldn’t high in long term yeild than going to big populated growing mkt
9/4/2013 5:09 PM: Abhishek: Brazil – bigger trouble than India actually.
9/4/2013 5:09 PM: Abhishek: If v compare last 5 yrs
9/4/2013 5:13 PM: Vinit: Brazil has got new oil field and is leading in biofuel too. These are some good things to have.
9/4/2013 5:14 PM: Abhishek: Yup – pretty self reliance, which v lack big time.
9/4/2013 5:15 PM: Abhishek: High Ethanol producer and user too- for a long time.
9/4/2013 5:28 PM: Vinit: Also indian service sector e.g. software would also be challenged if not soon then in long term as other developing nations are picking up including china and they would be much cheaper
9/4/2013 5:33 PM: Vinit: Government certainly has the responsibility but common man needs to realize that not many low hanging fruits are left and they need to work harder to compete at global level.
9/4/2013 5:34 PM: Abhishek: Agree
9/4/2013 5:34 PM: Abhishek: Common man can contribute in several ways.
9/4/2013 5:35 PM: Abhishek: V could have a separte discussion on this.
9/4/2013 5:40 PM: Vinit: In short term we need to bring clarity in terms of what are our strengths and are we doing everything to make it clear to the whole world so that it helps them to make investment decision
9/4/2013 6:05 PM: Abhishek: Our Fiscal and Monetary policies need lot of updation and be consistent with long term plans.
9/4/2013 6:06 PM: Abhishek: One goal with different ways in action
9/4/2013 6:08 PM: Abhishek: Alternate Engery sources; Attractive Foreign policy (not at the cost of Western slavery), Better infrs and promote local mfg, Better security + Promote toursim (even Weddings)
9/4/2013 6:43 PM: +91 96 24 733099: Tax reforms should be completed ASAP as per study if GST/DTC get implemented soon it will give clarity on laws which may attract fresh investment.
9/4/2013 6:44 PM: Abhishek: One aspect definately
9/4/2013 6:46 PM: +91 96 24 733099: Due to US sanction india has rupee settlement process with IRAN, this process was initiated when there is no choice, we can implement similar process with other country which will save immense Foreign Currency.
9/4/2013 6:56 PM: +91 96 24 733099: FDI is one time inflow country should focus on exports which geneates multiple times, more incentive scheme should be liberlused….In india SEZ was not successful country should refesigned the policy and government should take the resppnsibility for land acquisition and dealing with NGO and othes and single window clearance process…These SEZ will not only generates the Foreign currency but also good amount of Employment…SEZ is also one factor for china growth story.
9/4/2013 7:26 PM: Abhishek: Agree, V shouldn’t understand the power of FDI or any kind of foreign investment; We need those. It’s a well saying “A business is not run on Own money”
9/4/2013 7:27 PM: Abhishek: In other sense “Equity is the expensive source of funding”
9/4/2013 7:29 PM: Abhishek: V need all possible sources to leverage us, and advance our growth in bigger exposure.
9/4/2013 7:31 PM: Abhishek: China growth is a Communist growth, where country has grown much, but Citizens are still suffering with basic human rights. So it couldn’t be an example of growth by process.
9/4/2013 7:32 PM: Abhishek: People have been adoring US, not becoz this is a rich country or things r free, but this is a land of freedom and opportunity.
9/4/2013 7:35 PM: Abhishek: I see more doers in US than India. The biggest constraint we r just happy by talking abt problems. But changes must be coming from others. And this “Others” was never found.
9/4/2013 7:42 PM: Rajeev: Somewhere I feel confidence of our own people
9/4/2013 7:51 PM: Chetash: GM…Self Production should be encouraged and all Businessman shud b motivated for local production rather than Exports.
9/4/2013 7:52 PM: Chetash: Self Production rather than exports hv several benefits
9/4/2013 7:52 PM: Chetash: 1. Employment will increase.
9/4/2013 7:52 PM: Chetash: 2. Cost will reduce.
9/4/2013 7:53 PM: Chetash: Another point i will like to bring into notice is Hand to Hand Supply…
9/4/2013 7:55 PM: +91 96 24 733099: Indian Economy needs many things to improve, what i hv responded how to tackle the CAD crisis…. we don’t have FC to pay the dues and imports….
9/4/2013 7:56 PM: Abhishek: Again this is not the bad time, rather serious time to plan in all aspects.
9/4/2013 8:05 PM: +91 96 24 733099: China may be communist and fact is that people living standard has imprived as compare to 1978 when they open its economy….Communist is not always wrong…We hv big democarcy but achivement is not so encouraging…. i think indian political system should be changed i.e. Basic education for MP and minister, presently we r selecting MP, new system should allow cityzen to choose the person who should handle the particular ministerial portfolio….many other clear political system will boost the confidence in ‘AAM Admi’ and business groups…..
9/4/2013 8:13 PM: Chetash: Apart from that I will be also pointing out to a word call ” LAWS”…. Like in Dubai Laws shud b well defined and result oriented…It shud anyhow cannot be settled off against Money.
9/4/2013 8:14 PM: Chetash: Each and Every aspect/parameter is somewhere or another connected to Economy.
9/4/2013 8:51 PM: Abhishek: Tht’s very different Chetash, I believe u r aware abt Gulf law. Law should be result oriented but not tht physical.
9/4/2013 8:53 PM: Abhishek: China – the improvment you are talking abt is not that as you are saying. There r lot of things in China remain same as it was several yrs back.
9/4/2013 8:54 PM: Abhishek: For that v need to go deep and put together all the available info (though China doesn’t let go their internal affairs news out that easily)
9/4/2013 8:54 PM: +91 96 24 733099: Agreed policy consistency is big thing investnent, this is key for capital protection..further in china this is due to one party one policy.
9/4/2013 8:55 PM: Abhishek: A normal Chinese is not that free as any other normal country man.
9/4/2013 8:55 PM: Abhishek: An example could be put through here – Olympics in China –
9/4/2013 8:57 PM: Abhishek: The inaugration celebration- Participents were asked to wear diapers as they were not allowed to even take a break to Pee for two days.
9/4/2013 8:57 PM: Abhishek: Chinese are not allowed to visit several parts in China (in their own country).
9/4/2013 8:58 PM: Abhishek: V need to self independent in mfg, energy but not the way China did.
9/4/2013 8:58 PM: Abhishek: V need to develop small business.
9/4/2013 8:58 PM: +91 96 24 733099: There may be some bad thing in china we should focus on good thing which we can implement in our country.
9/4/2013 8:59 PM: Abhishek: Open lot more fields for businessman.
9/4/2013 8:59 PM: Abhishek: Wht’s good in China?
9/4/2013 9:00 PM: Abhishek: The real matter how you achieve ur success.
9/4/2013 9:00 PM: +91 96 24 733099: Surplus forex, stable forex prices, low cost manufactring
9/4/2013 9:01 PM: Abhishek: A person could be rich with all means, but is it worth to get a success on human/values cost. Same thing apply to country growth.
9/4/2013 9:01 PM: Abhishek: How they got surplus Forex – at wht cost? Take a pause and think abt it.
9/4/2013 9:02 PM: Abhishek: Do u know their labor condition in those mfg sectors.
9/4/2013 9:02 PM: Abhishek: Things r worse than wht v think.
9/4/2013 9:03 PM: Abhishek: Meet Chinese outside China and understand this more accurately.
9/4/2013 9:04 PM: Abhishek: China is a bad example. Though on some aspect Brazil, Indonesia, Swiss are the better examples
9/4/2013 9:06 PM: Abhishek: Still not a one to one comparison by looking at the size of population we have.
9/4/2013 9:07 PM: Abhishek: I believe v all can contribute to our dream country, firstly always make ur own thoughts than follow others and than definately u do wht is right irrespective of the consequences.
9/4/2013 9:09 PM: Abhishek: I know few people u made tht difference, and I wish they inspire ownself to keep tht going.
9/4/2013 9:09 PM: Abhishek: Chetash is one of them.
9/5/2013 9:44 AM: Chetash: why is china so ahead as they themselves nd whole world uses items made in china.
9/5/2013 9:45 AM: Chetash: change comes from within
9/5/2013 9:47 AM: Chetash: Hard but not impossible
9/5/2013 9:47 AM: Chetash: I think dis is rootcause behind Global economy.
9/5/2013 9:48 AM: +91 96 24 733099: At one side we are discussing about how to encourage FDI and now FDI came we are discussing don’t use the product of foreign entity, if we are looking for excessive price than let the govt. fix up the pricing as they are doing pharma/medical.
If we are looking for banning the foreign product than we should not look for foreign product as well.
9/5/2013 9:49 AM: Chetash: Shailbhai – I m not saying to Ban , I m saying not to use.
9/5/2013 9:52 AM: Chetash: Price fixing by govt can be thought of.
9/5/2013 9:53 AM: +91 96 24 733099: than why foeign entity will invest, if these kind of stand taken by other countries against indian product than how indian will create its presence globally.
9/5/2013 9:54 AM: Chetash: As China did …It will take time a bit difficult but not impossible..
9/5/2013 10:18 AM: Abhishek: Kind of agree with Shail in all practical sense; Frankly noone could follow China and mostly shouldn’t follow China pattern.
9/5/2013 10:18 AM: Abhishek: In Globalization, things get free to trade, and customers take advantage of competition.
9/5/2013 10:19 AM: Abhishek: V will not be competitive unless we get toughest competitions.
9/5/2013 10:19 AM: Chetash: We cant follow China but atleast we can learn from them ….an art….
9/5/2013 10:21 AM: Abhishek: There is art, but a Hitler process to focus on country than people. Anyone could try that (success take more than that though), but the question is “AT WHAT COST”.
9/5/2013 10:22 AM: Chetash: Y i m saying is dis has direct relationship to Employment—Good Standard of living—-Backed by our own manufacturing—–No need to worry for Forex rates—-Import payments.
9/5/2013 10:22 AM: Chetash: We will stand by our own..
9/5/2013 10:22 AM: Abhishek: Frankly u wouldn’t be like to be Chinese. U may like their food (at least Indo style), but wht abt Eyes, will u go for sugery?
9/5/2013 10:24 AM: Abhishek: We have a big population and our service sector has a singificant role in our growth and giving us some respect in world. So we need all means to succeed. A portfolio is the smart thing, than investing in our own business.
9/5/2013 10:25 AM: Chetash: Bhai–I am just saying all is abt a minset…i m nt at all saying to becum a Chinese.. But atlest can learn out from them.
9/5/2013 10:25 AM: Abhishek: U r right, our self independence in mfg and Energy is most imp.
9/5/2013 10:26 AM: Chetash: Completely
9/5/2013 10:26 AM: Abhishek: If u wish to learn, First and biggest step – choose a right Guru.
9/5/2013 10:27 AM: Abhishek: Else all efforts take u to bigger irreversible problem.
9/5/2013 10:28 AM: Chetash: Half work done is a problem…Yeah….Agreed…
9/5/2013 10:28 AM: Abhishek: There are few books out there state abt prospective problems in China – some biggest issue which could lead to “Tanashai” easily and destruction.
9/5/2013 10:28 AM: Chetash: Guide me if i m wrong or gng in wrong direction.
9/5/2013 10:29 AM: Abhishek: I always like that u think, which common man lacks (they just say as they heard).
9/5/2013 10:30 AM: Abhishek: India used to be a Guru for Society, Maths, Innovation etc.
9/5/2013 10:31 AM: Abhishek: V just need to refocus by all means.
9/5/2013 10:31 AM: Abhishek: And again a commonman can make a lot of difference. And let’s do that.
9/5/2013 5:07 PM: Abhishek: Good thought guys whosoever involved.