[V.Narayan]

Put together this chart based on World Bank data on the progression of India's GDP in $ billion showing how long it took us to get to the first half trillion, then the first trillion, then the second trillion and so on. Not shown in the chart but the estimate for FY2022-23 is $3.4 trillion odd. My guess is the 4th trillion will most likely be crossed in FY2025-26 acts of God and man notwithstanding.

Those who see the glass half empty may say but...low per capita GDP...inequality, ....poverty, .... young migrating. To that I'd say Rome wasn't built in a day and last 22 years we've largely only seen growth and a whole generation has come of under 40 who have no recollection of where we started from, the handicaps with which we started in 1947 or even in 1991. Sure we want these indicators to improve and I am confident they will happen step by step. Our per capita GDP got to the first 1000 $ in 2009-10 {$1097 per capita} over six decades after independence. The $2000 mark was breached 10 years later in 2019-20 at $ 2047. Given the significant slowing of population it is likely we'll cross the $3000 mark by ~FY2027-28.

[RaghuVis]

Those doubting our hopes and aspirations need to watch this video!

As a famous economist recently said "Ignore India at your own risk!"

https://youtu.be/45PrXujlQCo

[Samurai]

Myntra is a 15 year old e-commerce company that has never made profit. Are they generating value for the customers? Yes, my wife a big fan, she regularly buys from Myntra.

https://the-ken.com/the-nutgraf/mynt...ssing-margins/

Recent news: Myntra revenue rises 45% to Rs 3,501 crore, losses widen 40%.

I guess we should just say thank you to these businesses that sell at a loss and keep customers happy. I always say no to customers who want stuff below cost. If you can't sell above cost ever, it is not a business. Maybe we call it private fiscal spending.

[SmartCat]

Originally Posted by Samurai

Maybe we call it private fiscal spending.

Startup founders giving presentation to investors:

[ValarMorghulis]

I think most of these VC funded companies burn cash only on the hope of being acquired by a mega company.
-Flipkart was a loss-making venture in its entire existence till it was acquired by Walmart.
-BlinkIt was a loss-making venture till was acquired by Zomato.
-Junglee was a loss-making venture until it was acquired by Amazon India.

VCs fund these in the hopes of cashing out during an acquisition.

[tsk1979]

I find this VC stuff so odd.

In the the world when magic was not real and there were no unicorns, if you sold stuff at a loss so your competitors went out of business, MRTP act and its replacement competition act of 2002 would make you land in soup.

But in today's fairy land its perfectly okay to sell at loss to driver out the competition. Like what we so in the taxi aggregators world.

It is so strange, that because its an "app" it does not have to follow the law of the land.

[PGA]

Originally Posted by V.Narayan

... young migrating.

IMHO this is quite a big issue with economic and social ramifications and hasn't been discussed adequately in the media.

More than 7.5 lakh students are heading out of the country every year for 'higher studies', an euphemism actually.

Along with them goes out substantial money, multiplying 7.5 lakh with 25 lakh ( conservative cost of a course expenditure abroad) works out a pretty big number. If I look at Punjab which is exporting 2.25 lakh students out of this 7.5 lakh, this money if ploughed into the local economy can have a good enough an impact. I may not be too off the mark if I say that one of the reason for lagging economic indicators of Punjab could be this craze for going abroad transcending social and economic strata of the society. Famed Punjabi entrepreneurial spirit has evaporated in this city that I live in, you rarely come across a youngster willing to stick his neck out, everyone is either marking his time to go abroad or sitting on laurels of his or her forefathers. If we look back in the history and try to analyse the reasons, whats happening in the Punjab may well happen at any other place in the country. Primarily its economics that drives this scenario.

[trippytragopan]

Originally Posted by V.Narayan

it is likely we'll cross the $3000 mark by ~FY2027-28.

Sure, we'll cross this mark, and more such milestones, but there are more pressing problems – like empowering financial regulators and institutions – that may trigger Hindenburg-like episodes in future and drag down the speed of growth.

[one-77]

Originally Posted by tsk1979

I find this VC stuff so odd.

In the the world when magic was not real and there were no unicorns, if you sold stuff at a loss so your competitors went out of business, MRTP act and its replacement competition act of 2002 would make you land in soup.

But in today's fairy land its perfectly okay to sell at loss to driver out the competition. Like what we so in the taxi aggregators world.

It is so strange, that because its an "app" it does not have to follow the law of the land.

If these “Acts” indeed had tooth or were put to use in any meaningful way, Jio wouldn’t be a thing now.

The regulators were looking the other way then Reliance practically killed all other telecom operators and later internet service providers using their “free” services, which have since then become a monopoly and driven up prices.


So much for a country “multiplying” it’s GDP every few years.

[The Rationalist]

No point crying about students going abroad for higher education. The quality of education can't be compared to the best universities abroad. There is no motivation to become a teacher in India. Here the teachers are not valued and paid, then how will be there good teachers? I have found average students excel after getting quality education abroad and brilliant students rot after getting trained here. If I have the money, I will send my kids abroad without blinking an eyelid.

[one-77]

Originally Posted by The Rationalist

There is no motivation to become a teacher in India. Here the teachers are not valued and paid, then how will be there good teachers?

Well, college/ university teachers are paid over ₹2.5 lac a month as per UGC norms and are mandated to teach only 14 hours a week, as they get senior. Plus have 5 day weeks, two month summer vacations, and 10 day term breaks. Plus they get huge retirement benefits and pensions.

This is a way better deal than most engineers, doctors etc who work in the private sector in the country have.

The pay in premier institutions is much higher.

So lack of financial incentive surely isn’t the reason the quality of teaching, and education in general, is so bad.

[saket77]

Originally Posted by one-77

Well, college/ university teachers are paid over ₹2.5 lac a month as per UGC norms and are mandated to teach only 14 hours a week, as they get senior. Plus have 5 day weeks, two month summer vacations, and 10 day term breaks. Plus they get huge retirement benefits and pensions.

This is a way better deal than most engineers, doctors etc who work in the private sector in the country have.

The pay in premier institutions is much higher.

So lack of financial incentive surely isn’t the reason the quality of teaching, and education in general, is so bad.

Well, can the same be said for most of the private schools, even the premier ones? And the amount of work for 6 days a week, and more work after working hours with strict leave policies? The example you have quoted is also true but most of these universities and institutions are also preferring outsourced teachers to whom they have to pay a small fraction of money compared to that of old regular ones with no other facilities. They are also expected to complete other administrative and clerical work which the highly paid regular teachers are being spared of. I tell you, a big chunk of educational institutions are worse than corporate these days. I speak from first hand experience.

[tsk1979]

Originally Posted by one-77

Well, college/ university teachers are paid over ₹2.5 lac a month as per UGC norms and are mandated to teach only 14 hours a week, as they get senior. Plus have 5 day weeks, two month summer vacations, and 10 day term breaks. Plus they get huge retirement benefits and pensions.

This is a way better deal than most engineers, doctors etc who work in the private sector in the country have.

The pay in premier institutions is much higher.

So lack of financial incentive surely isn’t the reason the quality of teaching, and education in general, is so bad.

Not really. 10 lakh students compete for 5000 seats in premier institutes. So you are talking about teachers who cater to the top 5% of students. If you take top 5% doctors or private sector employees in the tech industry, they would make more money

[The Rationalist]

Originally Posted by one-77

Well, college/ university teachers are paid over ₹2.5 lac a month as per UGC norms and are mandated to teach only 14 hours a week, as they get senior. Plus have 5 day weeks, two month summer vacations, and 10 day term breaks. Plus they get huge retirement benefits and pensions.
The pay in premier institutions is much higher.
So lack of financial incentive surely isn’t the reason the quality of teaching, and education in general, is so bad.

The pay of teachers in schools are very low. You are speaking about maybe less than 1% of teachers of this country. Becoming a university teacher is not a realistic proposition for those who are planning to take up teaching profession. In aided colleges, the money one has to cough up is upwards of ₹50 lakhs to get a lecturer job.

Unless you start paying top dollar from the lower school level, there won't be a generational change in the society. Creating couple of Sundar Pichai's or similar kind is not what we want. The methods of teaching in our system is too outdated. My sister was Gold medalist in her Post graduate class in India, when she went to North America, she was having a tough in her first semester as the learning was entirely different! Unless we overhaul the educational system, the students will end up disillusioned by end of school/college years. I see kids aged 17 to 22 asking parents what to do for a career. They are asking parents for what to do for next 40 years! If the education system can't make you think/decide about what to do in life, it's a useless one.

[one-77]

What I mean is that the educational system itself needs a full revamp. From primary school is postgraduate and doctoral level education.

Teachers at all levels need to be paid well, but high salaries alone won’t help. If that were the case, government institutions should be having the top teachers and churn out the best students. I believe salaries (and continuity of job itself) should be performance based.

Unfortunately, the reforms that are taking place in the medical education sector (I technically am an Assistant Professor at a medical college myself, though being a “super specialist”, I am not directly involved in teaching undergrad students), are not often in keeping with global trends, and are in several ways regressive (trying to push in unscientific methods and thoughts into modern medicine).