I feel our country can progress only if the public services do their job. I need to mention my experience as i felt this is one of the reason why India is still struggling to progress though we have all the resources and weathe but we are still developing country. For registering a marriage it's only less than Rs.10, but we have to pay 200 rupees to the public servants to get it done. Bribing is there in all parts of the world, but not for doing their job. ONly in India we have to pay extra to get our job done. WHy? Our main progress in the last 10 yrs in the software boom. If US and UK closes the market, then we are finished. We need to find how we can change this. Becasue of our culture , language differences we are never united, Sadly.
I dont think INDIA INC will be in trouble a lot. If we look at the past, even though we were being dumped up by US norms and regulations of not to try neuclear weapons our local companies still showed a big growth.. so i think if this happens, it will be good for india, to becomre more DOLLAR independent trading country...
RE:50-50
by Sathish N on Dec 10, 2007 06:12 PM Permalink
If US economy tanks, dollar will depreciate. $1 could be below 30 rupees. This will hit the IT/ITES sector which has been the reason for recent India growth story. IT/ITES sector could layoff employees and/or cut salaries. This will in turn reduce consumer spending including real estate coming down. Lot of folks who bought houses at high price could get hit because their salary is reduced. The whole thing could have a spiral effect. Ofcourse there will a small section of people who will benefit from the real estate price reduction provided they weather the salary reduction storm. Let us hope this doesn't happen and some good innovation spurs our economy.
RE:STOP DEPENDING ON US
by NARENDER RAWAT on Dec 11, 2007 04:42 AM Permalink
Can you give me a valid reason why US/EU will put locks to India? If you don't have any thoughts then please keep your mouth shut.
Is it right to comment on Us.After all free speech and democracy originated from US.
Point1 -US is a very large economy.Even if it slows a bit,it is still single largest consumer. eg if a fat person eating 3 icecreams slows to 2 icecreams.The point is the person is still eating more than others.However if the $ value falls,the money value falls,increasing level of competition in pricing.Which in turn depend on cost.Fuel and oil is part of cost.
In a way it would be good if US slows from pollution and global warming point of view.Imagine if each human in the world has aspirations to consume in the same manner Us does,the world resources would deplict at a faster rate.
About credit and mortgage losses .It depends how much hit a country can take.Simply write it off.This depends on the advantage a country has in terms of resources,military and other strengths.
Point 2 -What about oil booming economies flushed with funds.r
is anybody who could discuss about improving our country? give some rock solid tips and tricks to all of us(indians). lets we all try and work towards our safety and countries growth.... shall we show the world that we are not dependent on anybody...?
RE:any expert around..?
by manish singh on Dec 10, 2007 05:53 PM Permalink
do research,develope own product,spread industry towards rural area,distribute wealth evenly,more importantly educate people and control population(if nedded forcefully)
RE:any expert around..?
by NARENDER RAWAT on Dec 11, 2007 04:47 AM Permalink
I beleive everyone knows at the time of NUCLEAR EXPERIMENT there was a ban that US possessed to India but did anything happened? Simply NO it proves INDIA is not dependent on any other COUNTRY. Other countries will cut their own costs rather then cutting India Resources because India has the most BRAINS in the world. If all Indians come back to INDIA then it will be like a BLACKOUT for other countries. It is always a two way transaction.
it is inevetable to say that us ecomy will not effect the inidan economy,the extant of effect is to be seen in the coming time.we shoul be prepared to face the same,should not close our eyes.
take the case of Mysore - a small city with no prospect of attracting floating business traffic.
Since, the last one and half year, the politicians have played a cruel trick. They have announced large ( about 15) companies mostly software, setting up shop. And an Airport, which they said would be over in 9 to 12 months.
And to top it, an announcement that some 1500 acres near srirangapatna - coming up for industry.
With the result even the retired small house gentleman became a realestate broker and prices went north.
People do not even realize that there are around 40000 govt. approved alloted sites laying vacant in one large colony alone.
With this in background large tracks of land were bought up by Land Mafia - (read unscrupulus builders and developers). These lands were sold as sites at high prices of Rs. 600 per sqft. With no prospect of improvement nor living conditions in these private layouts for the next 10 yrs. Minimum.
So, who is orchestrating this.
The political parties. And land mafia - usually brothers of Politicians.
Why was the MUDA commissioner changed within a day of Mr. Yedi occupying his seat ?
Why is the BJP not asking their own man.
JD(S) has simply become the den of land grabbers .
Who are they cheating ?
Their own country.
Now what is the position ? No registration going on. No sales of sites. More than 5 lakh empty sites around Mysore. Greedy people with money have blocked development of regular layouts for around 15 kms around Mysor
what I understand by recession is the trading, manufacturing, selling, pricing activities...if that slows down in US, how couldit effect India...It would effect India only if consumption of Indian products (including IT sector, BPO service sector, financial sector etc.) takes a back seat in US - however, there could be some corrective measures from the US government in reducing / bargaining the import cost of US which would affect our foreign exchange inflow to some extent. Indian stock market never has a direct link with production/profit of any company - it is sentiment driven always..which would give some boost to the common man in reduction of real estate property prices etc.
RE:US is ready to beat us. Beware, like the Left.
by Sachidanand Shetty on Dec 15, 2007 05:58 PM Permalink
China is worst than US, No one is belive in China other than Indain Commies like you.
last time, when US went into recession, it was Boom time for Indian IT Sector as more and more projects got outsourced bcoz of cost cutting measures in US. it works reverse. if recession in US, its good time in India. Offcourse, Share markets are sentiment driven, hence some volatility will be felt. but in long run, if US Slows done, impact on India will be less. chances are more wherein Indian Chinese other emerging markets can actually help in pulling out US from Recession or getting into Recssion.
RE:thats not fact !!!
by Naveen Bhutani on Dec 10, 2007 06:41 PM Permalink
There are already reports of 20 lakh jobs in textile sector which are about to be lost in India as a result of US dollar losing against the Indian Rupee. The US is losing against other currencies because it's economic outlook does not look very positive at this time. Indian economy is not just about the IT sector, there are other industries involved too which stand to lose as a result of a US economic slowdown
