S Jaishankar On Why India Missed Manufacturing Targets & The Current “National Mood”
Вставка
- Опубліковано 12 тра 2024
- #sjaishankar #externalaffairsminister #modisarkar #election2024 #worldproduction
External Affairs Minister S Jaishankar goes candid with his opinion on why India missed the manufacturing opportunity. Addressing an event in Mumbai, the minister squarely put the blame on “mistake of the past” saying how could the manufacturing sector flourish if there was no infrastructure, no human capital and no credit support from banks. According to the minister, the Modi Govt has, in the past 10 years, built a foundation for a strong manufacturing sector. He reiterated that India was ready for a production push and took a swipe at Congress MP Rahul Gandhi and former RBI Governor Raghuram Rajan, who he said believed that India is incapable of manufacturing. “The national mood is,” he said, “that we will build and compete globally”.
-----------------------
Thank You for watching! Do not forget to Like | Comment | Share
-----------------------
About the channel
Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others.
Follow us at:
Website: www.businesstoday.in
WhatsApp: whatsapp.com/channel/0029Va4Hd309hXFCqY62yD2I
Facebook: / businesstoday
twitter: / business_today
Instagram: / business_today
Sir u need to find a very deserving successor for yourself, India needs you , your kind of talent ...always !!
Very difficult indeed.
😂😂😂
Thank you Jaishankar for calling out of the mistakes or gross lack of governance of the past regimes.
Congress... Rahul and raguram....shall be annihilated..
India is missing its targets because we are too busy in Modi-worship
Yeah to much talk and not enough action so far.. I mean China are also making big moves but are not advertising it.
Modi himself is the doer and has the intent to get it done there are others both in government and private sectors who are getting things done. India will once be a superpower only the process will take time..
I am a fan of Jaishankar. He has changed India's personality in the diplomatic circles around the world. He has also been a career diplomat for decades and a Secretary of the External Affairs ministry before retirement. When he critizes India for the lapses in manufacuring, will he share the blame for the lapses in external affairs in the past - before 2014? Modi and BJp certainly brought the readiness to follow a different tune. That is how he could be different after 2014.
The discussion is on manufacturing. We exported raw material to our colonial masters. Value addition within the nation was low. We were an agrarian economy. Most people were too poor to afford modern goods and services. Take any industry except textiles and transportation, the demand within the counry was far below global scale. In manufacturing scale was everything. We had the policy of control on capacity. If any one established a plant i can only be meeting sanctioned / licensed capacity. Any one improving the productivity and extracting more yield from the same investment can not translate tha into production. They will be issued a notice and ahuled up for exceeding sancioned capaciy. This was socialism. Government, wanted to regulate growth in a planned way and ensure excess capacity is not built. Inefficiency was OK, but market should not get disturbed by competition. Thus productivity and incentive for be a more competitive company were killed. The anxiey was to let any aproved and licensed company to enjoy a market to their planned level.
Nehru era was about self sufficiency and developing a public secor to serve domains where the private would not dare to go. If we look at the spate of new public sector undertakings that came up after independence, one can appreciate how much dependent the british left us. So many irrigation projects and power generation projects were set up at that time. Though modern politicians critize Nehru for foreign policy and defence preparedness, he was a great PM from the development perspective. Indira Gandhi spent her time esablishing her personal stranle hold on the party and government. She also addressed the defense related weakness, and balancing global politics while following non alignament. Industrial growth was still siffled by licensing. Perhaps she let favouritism etc to take a priority. Atleast she surrounded herself with coteries and they did it. Rajiv Gandhi perhaps saw the modern world as an airline pilot. He may have been embarassed with the backwardness of the naion. He encouraged communication, and electronics. He was also given to populism. It was VP singh who made some bold oves, and Narasimha Rao who encouraged liberalism in economy. Soon after he dynasty rushed in to take control and while employing the celebrity FM of the liberalization era, literally stopped further liberalization. God knows where they were heading.
So many cooks followed so many recipes. We now look like a western restaurent in India with Indian cooks. Modi seems to want Indian restaurents in India with Indian cooks. But global successis in setting up an Indian restaurent with Indian cooks outside India.
1 first smartphone was introduced in 2007, just 7 year before modi became pm. chinese phone(xiaomi oppo vivo ) dominated the phone market share after 3 years.\
2 Xiaomi factory was introduced to india in 2014 by modi, still india doesn't have any global phone brand like xiaomi,oppo vivo, oneplus. which china achieved in 3 years
3 india is still importing huge texile and steel from china but export iron ore and cotton to china, why is india still importing basic products from china.
4 first bullet train started in 2015, supposed to lanuch to 2022, but posponed to 2028, china built 40000 lm bullet train in the same period.
5 india started boycott china movement in 2020, but imports from china skyrokects by year.
6 india and china start ev and solar panel research at the same time, around 2014. See the gap now.
7. Large scale of he electric industry and smartphone were start around 2014, before that, internet is very slow, and smartphone always stuck, china achieved world dominance in that time period
8. India failed to let china go back to pre april 2020 position, and failed to retaliate china though china, china become india's largest trade partner this year
Conclusion, in the previous ten years, compared with china, modi's tenure is 100% failure
Standard rulebook - blame the previous government, say that you believe India. But don't state any actual evidence of steps being taken. I really like him but this answer was a non-answer.
So what do you expect in democracy
Seriously it is easy to blame the previous regime someone else will come tomorrow and they will also do the same.
I'm tired of excuses.
Even Worlds learns from S. jaishankar 🚩Bharat Ratan
We are doing well were the volumes are low like space or drones. We need to do well where Volumes are very high and the things that need good quality at Industrial scale.
❤ Dr. Jaishakar's no nonsense replies!
Filled with boo sheet!
True, ten years is not enough to fix all the messes of the last 50+ years
superpower india 2023
#111 in Hunger index
#161 in Freedom Press index
#126 in Happy index
#139 in GDP per capita
#134 in HDI index
#148 in Women, Peace And Security Index
#1 pollution
10% earn
Does anyone believe in India on indexes which put countries like Pakistan which is on the verge of bankruptcy above India in hunger index or democracy
In China there is dictatorship
@ChinaRedMan People have no choice in China to choose leaders because there is dictatorship
@@toughtomeper capita income is the fact. so, stop ignoring the real problem
Fake indices, these are not real data 😅😅😅
No matter how eloquent your speech is , the ground remains the same. One swallow cannot call a spring nor can swallows create spring.
Moye Moye 😁😁
Best articulator ever
you have enough people, but not enough skilled labor
It's okay to dream on.....
Manufacturing house to who when they are not properly resided in multistoriez
😎😎. 😎☠️
India has to become a manufacturing hub to have a viksit Bharat. For this you should have all round development to lure large business houses to set up manufacturing in India.
Infrastructure , manufacturing, jobs must to improve .
What about the reservation...
It has hampered progress
What about caste system
Why reservation is given to some people and some people not,tell me
Tolles Video.
Besten Dank!
Rahul Gandhi 2 mahine me sab theek kar dega
Ji Bhai. Wo Hanuman banega😂
Report says the congress government had a better success rate in getting more FDI. Through creating SEZs with BOOT model of operation they transformed india into a IT industrial hub that created millions of jobs. What industrial transformation or a new industrial hub is created in the last 10 years??
BJP always talks about the past, tomorrow someone else will come and they will also blame this regime for losing the bus.
Jainshankar always blaming the past government is enough. Please try to resolve and find a solution to compete with Chinese companies in manufacturing. For doing that there are so many internal issues which are to be addressed very seriously and these internal issues like education systems quality, reservations, corruption, biased approach towards states by centre, freebies distribution without proper wealth creation etc which actually government never even dare or even tries to address.
People have the right to know why we failed in manufacturing despite having talents both entrepreneurial and technological. Manufacturing is the largest employer any where in the world.
Therefore, those responsible must be answerable.
What about caste system
@@supersayaaain if you want to include there are many issues that we can't even think of. The list is huge.
@@Thammy2019 so u want to keep the caste with you but want to remove caste reservation for others.
@@supersayaaain I am very sorry for your ignorance. Did I told you I will keep caste with me. I am just saying that reservations are hampering our growth and development. Reservations should be based on merit but not caste or anything for a country to grow. I know it is impossible to eliminate reservations in india, but I am telling with any doubt these reservations are destroying india.
You can what we are doing education sector, rnd what gdp ratio more less than this nation even modi gov nothing improved education and rnd
Sir, since 29 years we have been hearing the same rhetoric from your govt .........but still the share of manufacturing in GDP has not gone up !!!! Keep talking and blaming others. They worked on services, it and look we are a global leader in these sectors.
People say don't use india made vaccine...but now some face the problem from western made vaccine😂.
JAI SHRI-SHANKAR.....How do you manufacture when the producer has to pay 28 percent tax.????...I'm an Indian abroad I import stuff from China and not India....Because the same product I get at a way lesser price.....India will never be a producer....only service provider for LIFE..
That's your vision of world which they or many Indians don't share!
You will can them delusional and all sorts of personal attacks but will be just your bias.
Your wish where u want to buy or not buy from, but calling that it will never a producer requires You bracket the statement under opinion
Evey nation has own core competencies and availability of resources. So no one needs to copy others formula and intrests. Bharat culture doesn't prefer looting and cheating other. For growing fast these are required. All invasions ,colonisation, engulfing aren't acceptable in Bharat culture. Shri Ram returning Lanka to Ravan brother Vibhisan and never tried to make it part of ayodhya kingdoms against principalities of wars.. It's against Bharat culture .
Laughable ! What happened to Kingdom Sikkim and NW corner of Nepal ?
Sir please reduce tax.
There is a syndrome I have observed in industry. A new boss would come from outside on recruitment or from across the company on internal transfer. Iniially he would not know much of what is going on or what should be changed. Wih a change of guard many views which are contrarian to earlier thinking would get aired by the subordinaes hoping for their views to be heard. After 2 years one can hear the new boss boast how hings were in doldrums when he took over, and how he turned things around. The prime focus will be on what he did and how ritical or important what he did were. The narrative is more likely to be how bad things were earlier. This happens with governance as well. Jaishankar is beginning to punch outside external affairs. He is now commenting on how defense sector worked.
There is only one minister in India, which is Narendra Modi and the only department is the Prime Minister's office. Business community likes to pretend that everything is alright in India
@@gauravtejpal8901 you may be mistaken. I merely recalled some old memories. Modiji is doing well.
In case you are confused. I am happy with the change Modi brought in. I was able to appreciate Nehru to some extent. Global situation is constantly changing / evolving. Different governments picked some policy and were trapped with the consequences. I will not attribute everything to malignant though. One may also consider they may have been naive or scared.
Read the stupid views of Raghuram Rajan in FT yesterday that summarises Khangress' slave mentality
Are you an economist?
Still he cannot explain why Indian manufacturers are lacking competence after 10 years of BJP government
India is a failed state
Despite having the most populous population in the world, India does not create any jobs for the millions of young job seekers who enter the workforce every year.
The South Asian country's working-age population stands at more than 900 million, according to 2021 data from the Organization for Economic Co-operation and Development (OECD). According to the Indian government, this number is expected to reach more than 1 billion over the next decade.
Everything becomes a burden if policy makers do not create enough jobs. Data shows that more and more Indians are not even looking for work, given the lack of opportunities and low wages.
India's labor force participation rate, an estimate of the active workforce and people looking for work, stands at 46%, among the lowest in the world, according to 2021 data from the World Bank. For comparison, China and the United States (US) reached 68% and 61% respectively in the same year.
For women, the numbers are even more concerning. India's female labor participation rate of just 19% in 2021 was the lowest in the world, down from about 26% in 2005, according to World Bank data.
"India is sitting on a time bomb. There will be social unrest if it cannot create enough jobs in a relatively short time," said professor of organizational behavior at the Indian School of Business, Chandrasekhar Sripada, to CNN International, reported on Wednesday (18/1 /2023).
The Center for Monitoring Indian Economy (CMIE) noted that India's unemployment in December stood at 8.3%. This is far compared to countries like the US which recorded unemployment at 3.5%.
Lack of high-quality education is one of the biggest reasons behind India's unemployment crisis. This is because Indian institutions emphasize 'rote learning' over 'creative thinking'.
As a result of a combination of poor education and a lack of jobs, thousands of Indian college graduates, including those with doctorates, end up applying for menial jobs such as office boy, which pay less than US$ 300 (Rp. 4.5 million) per month.
According to recent Indian government data, more than 90% of India's workforce is employed in the agricultural and informal sectors.
Without planning and the public sector, the manufacturing industry cannot be developed. it is the defect of Modis economics
Blame Lutyens politicians. Can’t seem to understand why you blame Modi.
Basant Maheshwari who will say I don’t want to hear Jai Shanker’s economic views. But the scoundrel keeps vomitting anti BJP slogans in every video.
what u did for last 10 years please tell its not good to blame for the past which cnt be bought back
Just blame game
Vote for NDA
I ironic. Just finished talking to the usa president he says other ways. And. You espxtme. To. Tolerate
Ye v pagal ho chuka h....10 saal ho chuke h fir v ye rona dhona ki pichli govt ne kuch nhi kiya
Not just 10 years they are in power 16 years of last 26 years
Are you kidding me?
LOL LOL LOL
But importing 100billion $ of goods from China. Jaishankar should correct himself.
China is not your enemy.
China's strategy is Win-Win Cooperation.
They can help India to grow. But first, you must stop treating them as your enemy.
But if you notice the nature of imports from China, it has changed a lot, India used to import a lot of finished goods but now we import mostly components which are then assembled or converted into finished products in India
@@MetaView7😂😂😂 this is what happened when you don't able to compete with them try to adjust with that.
This kid doesn't know what rubbish he is talking.
Gyaan pelte raho kaam mt krooo
Company kaun kholega Tu ya Govt?
kaam ho toh raha hai..
Pappu ke pujariye Adha dimaak se hi sochega
@@AIGMateYT bhaktard do u know that how many beaurocratic hurdles one has to pass to setup a factory in inddia?
@adolft_official hello chamcha.. do know what the rank of ease of economic index was before 2014 was? It was 130+.. by 2020, our rank upgraded to 63. Then, UN stopped making that list post covid. Anyway.. but u believe in congress, the father of license raj, which could not reduce beaurocratic hurdles for companies for 60 years, over bjp which actually removed tons or red tapes, rapidly increasing digital and logistics infrastructure for companies to florist better... how dumb r u?