Indian Economy : News,Discussions & Updates

One aspect that I would like to touch upon is about the youth potential as @Falcon @_Anonymous_ mentioned.

Reproduction rates are not going have any rapid decline for a good 2-4 decades, large amount of educated youth will face immense competition in the job market, and a significant portion of this chunk will migrate to other countries. If our industrial/service and government sector will not be able to keep up with employment, why not make it easier for our youth to find employment in other countries and craft our diplomatic mechanisms to do exactly that. MoU's specifically associated with large import orders of providing employment to certain number of (Skilled/Semi-Skilled/Unskilled) jobs similar to the offset clause type requirements. If that's not feasible at least creating the right mechanisms and channels for employment in other countries through vetted individuals.

Also with the huge amount of PIO's around the world, maybe it's time to look at dual citizenship for PIO. NRI/PIO can be a great source for FDI for the domestic market, providing dual citizenship on the basis of at least property ownership in India will create demand in the real estate market, direct taxes from NRI/PIO on the income made in India will increase tax revenues and create even stronger engagement with the home country.
 
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Milspec said:
One aspect that I would like to touch upon is about the youth potential as @Falcon @_Anonymous_ mentioned.

Reproduction rates are not going have any rapid decline for a good 2-4 decades, large amount of educated youth will face immense competition in the job market, and a significant portion of this chunk will migrate to other countries. If our industrial/service and government sector will not be able to keep up with employment, why not make it easier for our youth to find employment in other countries and craft our diplomatic mechanisms to do exactly that. MoU's specifically associated with large import orders of providing employment to certain number of (Skilled/Semi-Skilled/Unskilled) jobs similar to the offset clause type requirements. If that's not feasible at least creating the right mechanisms and channels for employment in other countries through vetted individuals.

Also with the huge amount of PIO's around the world, maybe it's time to look at dual citizenship for PIO. NRI/PIO can be a great source for FDI for the domestic market, providing dual citizenship on the basis of at least property ownership in India will create demand in the real estate market, direct taxes from NRI/PIO on the income made in India will increase tax revenues and create even stronger engagement with the home country.
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From reports I've read that's precisely the sticking point in India signing the RCEP. There's no forward movement on the ASEAN & China on the services sector. Look at the FTA's we've signed individually with Thailand, Malaysia & collectively with ASEAN. It's been more of a one way street. There's still no forward movement for us w.r.t to the services sector.
 
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Milspec said:
One aspect that I would like to touch upon is about the youth potential as @Falcon @_Anonymous_ mentioned.

Reproduction rates are not going have any rapid decline for a good 2-4 decades, large amount of educated youth will face immense competition in the job market, and a significant portion of this chunk will migrate to other countries. If our industrial/service and government sector will not be able to keep up with employment, why not make it easier for our youth to find employment in other countries and craft our diplomatic mechanisms to do exactly that. MoU's specifically associated with large import orders of providing employment to certain number of (Skilled/Semi-Skilled/Unskilled) jobs similar to the offset clause type requirements. If that's not feasible at least creating the right mechanisms and channels for employment in other countries through vetted individuals.

Also with the huge amount of PIO's around the world, maybe it's time to look at dual citizenship for PIO. NRI/PIO can be a great source for FDI for the domestic market, providing dual citizenship on the basis of at least property ownership in India will create demand in the real estate market, direct taxes from NRI/PIO on the income made in India will increase tax revenues and create even stronger engagement with the home country.
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Phoren countries don't want to do that. Even for Mode 4, which is just temporary migration with no room for permanent residency, there are objections.
 
Butter Chicken said:
India, Saudi Aramco agree to partner on $44 billion refinery-petchem project

NEW DELHI (Reuters) - Saudi Aramco and a consortium of Indian state refiners agreed to build a mega refinery and petrochemical project on India’s west coast for an estimated $44 billion, oil officials at the signing of an initial agreement said on Wednesday.

Top executives of Saudi Aramco and India’s Ratnagiri Refinery & Petrochemicals (RRPL) - a joint venture of Indian Oil Corp (IOC.NS), Hindustan Petroleum Corp (HPCL.NS) and Bharat Petroleum Corp (BPCL.NS) - signed a memorandum of understanding to take equal stakes in the project in Maharashtra state.

The project includes a 1.2 million-barrel-per-day (bpd) refinery integrated with petrochemical facilities with a total capacity of 18 million tonnes per year, the officials said on the sidelines of the International Energy Forum.

Saudi Aramco will supply at least 50 percent of the crude to be processed at the planned refinery, officials said.

Saudi’s petrochemical company SABIC is also keen to invest in a cracker and other facilities in India, he said.
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https://twitter.com/x/status/1177591392740098049
 
_Anonymous_ said:
India may cut duties on 80% of Chinese imports under RCEP
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I am no good at economics but this sounds like such a bad idea. We had a trade deal with Japan that caused a large trade deficit, ditto for South Korea and ASEAN. We also have a large trade deficit with the Chinese. Now we have this. The RCEP in all due probability increase the trade deficit even more.
Why even get a FTA with them ? Somebody please explain this to me. What do we get in return ? and how sure are we that the Chinese, of all people, will keep their commitments ?
 
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