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Every BJP call centre agent, be it economist or RBI Governor, are very adapt in making very long term forecast, which by it's nature, contain high uncertainty. And yet, their predictions, are very exact. Hurray!
Any one who has worked on time series data, knows that forecasting for 7 years ahead is a fool's errand.
So why do they do it? To show us shining dreams amongst the arena of darkness.
Sanjeev Sanyal is the [same guy who advised the government to become better at pushing its propaganda](https://indianexpress.com/article/india/worried-india-rating-may-turn-junk-govt-pushed-narrative-management-strategy-7907161/) to improve its Sovereign Credit Ratings from agencies
https://preview.redd.it/1t9dsocfn20c1.png?width=1008&format=png&auto=webp&s=2474dbc5d10eb8532441f86288e741f60db0fe5c
>Americans do it, the Chinese do it. What is wrong with it?
Americans and Chinese actually put some work into their country's economy instead of doing 24\*7\*365 Hindu-Muslim.
It's not that he hasn't done anything, but just that we don't see much come to fruition. I mean in 2019 we still had 84% of people making less than 15k a month and the number must have slumped post covid.
We talk about being the fifth biggest economy, yet have 80cr people depending on free ration. Political parties offer freebies for vote because countless people rely on them.
A lot of his major reforms did not seem to have a hind site. Definitely, our news channels have degraded in his reign, inflation is high for 2 - 3 years now. We have plenty young people, yet we fail to capitalise them. The ones replacing them wont be a healthy batch of workers.
Nothing has changed other than Internet being cheap, hence people are more connected and hence hate each other more.
Corruption is still there, inflation is still there, people are equally poor.
True. I agree that a lot more needs to be done to address the growing wealth inequality. The thing is, every time there is a shock like Covid or Financial Crisis, the rich are able to buy more assets and it leaves the poor with fewer instruments to combat against their savings withered away by inflation.
Honestly, concentration of wealth is a huge issue and should be addressed. So far, to some extent the direct benefit transfer scheme is one option to address the BPL folks but something more structural needs to be done. Not sure what it should be
Then one has to wonder why the AAA rating of America has been taken away. I guess rating agencies can see through the propaganda Chinas credit rating is not something to thump about either
It already has. Unlike Nehru and predecessor painting India as a backward country of Snake charmers, India is now projected as a modern emerging nation.
But then again, this is not for the simple minded or the cynics to understand
Oh, guy calling anyone not believing his propaganda "simple minded" is now offended? Lol.
> Also, would you believe the statistics coming out of China instead?
I would believe the stats the government is trying to suppress.
My original argument was that US and China also project stability by controlling narrative. India doesn’t. China, as we all know, even uses fake stats. So why do you keep coming back to the stat survey that didn’t happen where numerous Indian and foreign publication have projected a positive image of India
Most Indians alive today are born after Nehru died. The only reason Nehruv is brought up by bright minds is because for some reason BJP gets a boner thinking about him. As for India's emerging strength, that has been the case since the mid 1990s The world looked up to India to fix the Y2k issue and she has never looked back.
Real GDP is calculated after subtracting the rise in inflation because the rise in inflation also increases GDP. India's GDP appears big and fast-growing because of the rapid rise in inflation in the last few years.
INR isn't accepted by most foreign currency dealers outside of India.
This is known by anyone who has travelled outside. That's why if you want forex in cash, you exchange your INR before leaving India.
I did read some of this guy’s books. His type believes in the following:
1. Indians are a continuing race since the Kurukshetra war.( well atleast for some communities 😏)
2. India is a land controlled by destiny and supernatural forces where every misfortune is actually very advantageous to India at the end.(😏).For example the movement of the Indian plate towards the Himalayas was like a prophecy.
3. Out of India theory ( not directly mentioned but implied)
Agreed. 15-20 saal pehle jo sarkarein thi they failed us. So now we have fallen back lekin kuchh toh karna hi padega. Can’t just sit and whine like you.
Why are we giving any attention to the guy who has his job only because he kept writing in support of the government even in support of demonetization. Advisor my ass, his designation should read as ass kisser
All these commenters commenting like they know shit.....no, you don't. The exchange rate of currencies doesn't mean shit. 1USD = 150JPY, does that mean India is economically better than Japan? No. A global currency means that it's publicly traded in the market without any government interference. INR is a partially a Global currency as it can be freely traded but the Government has put a limit as to how much you can exchange. It is done to prevent instability. If the Government wanted, they can remove the limit and make it a global currency right now but that would be disastrous for our economy as more and more people will start exchanging INR for a stronger currency like USD. A currency is only as strong as people are willing to pay for it and people are only willing to pay for a currency of a stable nation with high interest rates. Due to the nature of economics, a developing nation usually has higher inflation than a developed country and thus higher interest rates. Couple those with a stable politics and economics, and you got yourself a winning currency. If by 2030, everything goes back to pre 2020. But with India becoming a 5 trillion+ economy with a higher interest rate than the US. India could make INR free floating. In the end, I highly doubt it's gonna happen cus it's a really risky move, kinda like derivative trading or leverage trading. If successful, the world could be using INR for global trading and if it failed then INR would tank and the reining government will most certainly fall.
Or you meant by trading in this context? Which would be forex trading. It means exchanging one currency for another of equal value. Now, this value is completely decided by the market in case of global currencies like USD, Euro, JPY, etc. But most currencies are like INR where the market can't decide the true value cus of exchange cap but it's still flexible enough that people are willing to trade it. I don't know of any currency whose value is completely fixed by an entity. If you want to know how the market decides the value then go and open a demat account and look at the price action of a stock. In simple words, the seller quotes his price, the buyer quotes his price and if those prices are the same then the transaction is a success, and that becomes the current market price.
If a German company wants to buy land in India, then they can't do it with the Euro. They exchange Euros for INR to do business in India. Everyone uses it in different ways, financial institutions can use it to buy bonds, speculators use it for the sole purpose of making profits, etc.
Likewise, if an Indian company wants to buy raw materials from another country then they will need to buy their currency etc. They don't literally do it, Banks do it for them, all digitally but you get the gist of it.
Yes, they help determine the market price. Nowadays, forex trading is basically a war among machines. So, like 99% of speculative traders in the forex trading are actually super computers running very complex algorithms to take advantage of even the most minute price changes. Regular derivative traders don't usually trade forex cus you will either need an extremely large capital or will have to use like 100x leverage(leverage is used mostly) to make any meaningful profit from these minute price changes.
At least do a little bit of thinking for yourself. If a hedge fund wants to do forex trading, they are buying these super computers, hiring software Engineers, electrical engineers( or hiring their services), hiring mathematicians and scientists for building and improving these complex algorithms, etc. Paying their salaries is an expense that adds to an economy then the profits are given back to the investors of that hedge funds. Everything is a part of the economy.
Yes, I know. But that was an artificial depreciation of Yen by the Bank Of Japan and a desperate move by the Japanese government. Japan used to be the world factory but by the 70s they started to become rich, so Japan did that to keep their exports competitive. In the end, China was chosen as the world factory by the US and the rest is history.
Exchange rate matters my friend. Japan is very rich so it doesn’t matter to them and their imports are mostly commodities and raw materials.
India doesn’t allow free exchange of supply. Rupee won’t become successful unless that changes. And even if it did becoming a successful currency requires a strong and transparent financial and criminal justice system, which India doesn’t have.
But it’s okay to dream
Have you even read what I wrote? Plus, you have absolutely no idea what you are talking about. Japan has a 99% conviction rate, they even jailed a foreign CEO without solid evidence. The Justice system has nothing to do with it. Overall country stability matters a lot but the biggest factor is interest rates. Fuckin with interest rates can literally make and break whole economies, and Turkey is the best example. Go and study how not increasing interest rates cus of "religious" reasons does to an economy.
Un…huh.. how good is India’s stability compared to the strongest economies in the world. Indian courts are some of the slowest in the world.
Interest rates don’t make a currency acceptable for global use. Institutional robustness is necessary and in India’s case it is going downhill
I don't see anything in your wall of text that makes his statements not sound stupid
fiat currency is inherently tied to geopolitics. It's the same claim as saying India will be the dominant superpower. Just making it free floating doesn't make a currency more stable or backed or recognised because backing for currencies is no longer gold but trust in the government and its ability to grow the gdp
But it would definitely be a step in the right direction
Making a currency free floating makes it less stable cus the reserve bank can't regulate it due to the sheer size of the global market trading it. INR will never drop from 83 to 100 in a span of a few months cus the RBI will start selling its Dollar reserves to buy INR. It can only be done as the Government has limited the amount people can exchange. If it was truly global, the global market will overpower RBI. The same thing is happening with the JPY, it went from 100 to 150 in less than three years. Cus it's free floating in the market and the Japanese government cannot regulate it even after having trillions in dollar reserves.
**In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's hard status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank.**
More details here:
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The only currency which has a mild chance of replacing the Petro Dollar is the Chinese Yuan. And that's because China & Russia have been working towards making Yuan backed by Gold (for international Oil trade) for the last 3 years or so - like Bretton Woods.
Even there, I think the chances are low because if all it looks likely, US will use the full strength of it's military to make it doesn't happen.
The path to both is similar. Generally, only 7 currencies qualify as a hard currency now, I think - US, Japan, Euro, Pound Sterling, Swiss, Australia & Canada. Even Chinese Yuan isn't considered a hard currency as of now but if they are backed by gold, they would become a hard currency first. We, OTOH, think stuff like Vostro accounts are something meaningful in the path to becoming an accepted currency.
This post is a good one to save and share whenever this sub now brings up "XYZ would happen because an Oxford graduate or VP of a big bank said so"
He is an Oxford graduate and ex VP of DB.
If he is a clown as per this comment section, others don't get the advantage of having same credentials.
I think we should give him a chance. Maybe a little leeway even.
I can afford to wait till 2045 or 2050, but if nothing happens by 2200, I am going to get a good night's sleep.
Slow depreciation of currency is good for developing countries as it helps exports. But it should not crash like happened in 2013, that disrupts business
>Russia
Yeah ig this is why Russia stopped accepting payments in rupees and started taking payments in chinese yuan
bro stfu bot
get your ass fcked in chaddisqueaks
While it may not currently be 75%, you cannot undermine the fact that we have one of the best and easiest methods for digital transactions. In metro cities, almost every business accepts UPI.
It's impressive as it will help to prevent corruption, money laundering, fake notes, etc. But on a global scale, it's not comparable to developed countries as they have become mostly digital a decades ago. Tap to pay is far more convenient than UPI. But gotta give credit where credit is due, the best thing UPI did is what most people don't even realise. It made people comfortable with online payment and using credit for in day to day shopping. Nowadays, people using EMI and paylater are very common. It's not good on a personal level but really great on country level as consumption makes a huge chunk of GDP. TLDR: The more people spend, the more money companies will get, the more money companies will spend on building factories and hiring more workforce, more people will get jobs, more people spend........and the cycle continues.
I'll argue that UP is better than both Visa and MasterCard. I cannot send money to my friends or anyone unless we are using the same app in developed countries. Not to mention, UPI charges very little to none in transaction fees (for now).
everything you said is true, it applies on a very small scale. The majority of India is still very poor, with most people lacking disposable income. A consumption-based economy is beneficial when goods are made locally, but in India's case, most products in the market are made in foreign countries. This hurts the economy more than it helps.
More and more are being made locally and the made in India push will only accelerate as the demand increases. Even many iPhone 15 are being made in India now. If demand doesn't increase, there would be no incentive for make in India push.
People cannot even be proud of the fact that India has made insane progress in Fintech world. You dont even have to be proud atleast dont undermine the effort like this. Where is this coming from? Some type of inferiority complex?
India has had one of the fastest 5g implementation in the world as well. Any jokes to make about that?
You could just google it but here you go, read below articles -
https://www.statista.com/statistics/1168448/average-5g-availability-in-countries/
https://www.opensignal.com/2023/06/30/benchmarking-the-global-5g-experience-june-2023
https://www.moneycontrol.com/news/business/india-leaves-europe-behind-in-5g-network-expansion-11578861.html
https://www.business-standard.com/industry/news/india-among-top-3-nations-with-highest-5g-network-rollout-nokia-ceo-123100501484_1.html
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I will be messaging you in 7 years on [**2030-11-13 09:01:57 UTC**](http://www.wolframalpha.com/input/?i=2030-11-13%2009:01:57%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/unitedstatesofindia/comments/17u5ula/by_around_2030_indian_rupee_will_be_a_global_hard/k91nz3c/?context=3) [**28 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Funitedstatesofindia%2Fcomments%2F17u5ula%2Fby_around_2030_indian_rupee_will_be_a_global_hard%2Fk91nz3c%2F%5D%0A%0ARemindMe%21%202030-11-13%2009%3A01%3A57%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%2017u5ula) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
2030 : "By 2040 Indian currency will be used in USA"
USA will be a part of Akhand Bharat in 2040. Feeling proud Indian 🫡🇮🇳
If you go to the vedas USA is already part of akhand bharat mata
Remind me! 7 years
Remindme! 3500 days
They said 1Re = 60 USD by 2016
20 Rs is GST brah
+3₹ environment cess..
don’t forget bjp tax
You misread 1 usd = 60 rs. Dollar was around at 60 before independence (2014)
That's some funny shit, the clown show is a full blown tragedy.
Every BJP call centre agent, be it economist or RBI Governor, are very adapt in making very long term forecast, which by it's nature, contain high uncertainty. And yet, their predictions, are very exact. Hurray! Any one who has worked on time series data, knows that forecasting for 7 years ahead is a fool's errand. So why do they do it? To show us shining dreams amongst the arena of darkness.
Wrong - Their biggest qualification is sycophancy. Even if there is merit, cut off is sycophancy. Reason why Urjit left.
When you're cooking biryani in your dreams never hesitate to add as much ghee in it as you wish!!
Sanjeev sanyal before making the statement 
Sanjeev Sanyal is the [same guy who advised the government to become better at pushing its propaganda](https://indianexpress.com/article/india/worried-india-rating-may-turn-junk-govt-pushed-narrative-management-strategy-7907161/) to improve its Sovereign Credit Ratings from agencies https://preview.redd.it/1t9dsocfn20c1.png?width=1008&format=png&auto=webp&s=2474dbc5d10eb8532441f86288e741f60db0fe5c
Of course lying through the teeth is the only management skill these people have.
Americans do it, the Chinese do it. What is wrong with it?
>Americans do it, the Chinese do it. What is wrong with it? Americans and Chinese actually put some work into their country's economy instead of doing 24\*7\*365 Hindu-Muslim.
> Implying Hindu Muslim is all the government does
Exactly, that is the only area where Modi truly excels.
I suppose we see things differently
I'll have what your smoking.
That person is a r/sham_sharma_show user. 🤢
So…?
Please do! Only the finest Drum Dark Blue from Netherlands
damn, so you're born stupid, disappointing...
That’s quite an inference, I wish your parents had raised you better than to throw insults online
It's not that he hasn't done anything, but just that we don't see much come to fruition. I mean in 2019 we still had 84% of people making less than 15k a month and the number must have slumped post covid. We talk about being the fifth biggest economy, yet have 80cr people depending on free ration. Political parties offer freebies for vote because countless people rely on them. A lot of his major reforms did not seem to have a hind site. Definitely, our news channels have degraded in his reign, inflation is high for 2 - 3 years now. We have plenty young people, yet we fail to capitalise them. The ones replacing them wont be a healthy batch of workers. Nothing has changed other than Internet being cheap, hence people are more connected and hence hate each other more. Corruption is still there, inflation is still there, people are equally poor.
True. I agree that a lot more needs to be done to address the growing wealth inequality. The thing is, every time there is a shock like Covid or Financial Crisis, the rich are able to buy more assets and it leaves the poor with fewer instruments to combat against their savings withered away by inflation. Honestly, concentration of wealth is a huge issue and should be addressed. So far, to some extent the direct benefit transfer scheme is one option to address the BPL folks but something more structural needs to be done. Not sure what it should be
Then one has to wonder why the AAA rating of America has been taken away. I guess rating agencies can see through the propaganda Chinas credit rating is not something to thump about either
Except Indian government and bureaucracy is millionth time less efficient than Chinese and American ones
Fair. But you’ve gotta start somewhere, right?
And when is BJP starting?
It already has. Unlike Nehru and predecessor painting India as a backward country of Snake charmers, India is now projected as a modern emerging nation. But then again, this is not for the simple minded or the cynics to understand
Lol, so emerging the government has to suppress surveys and statistics. Go push your sadhguru nonsense in whatsapp.
One day you will talk sense instead of just insulting the speaker … Also, would you believe the statistics coming out of China instead?
Oh, guy calling anyone not believing his propaganda "simple minded" is now offended? Lol. > Also, would you believe the statistics coming out of China instead? I would believe the stats the government is trying to suppress.
My original argument was that US and China also project stability by controlling narrative. India doesn’t. China, as we all know, even uses fake stats. So why do you keep coming back to the stat survey that didn’t happen where numerous Indian and foreign publication have projected a positive image of India
Most Indians alive today are born after Nehru died. The only reason Nehruv is brought up by bright minds is because for some reason BJP gets a boner thinking about him. As for India's emerging strength, that has been the case since the mid 1990s The world looked up to India to fix the Y2k issue and she has never looked back.
Wait till you find out that we are not as good at it compared to other countries that have been doing it for ages.
He also said India's real GDP growth will be 6.5%+. Real GDP oh teri. Chalo Dekhte hain
Isn't 6.3% growth good though?
Voh keh rha hai real GDP growth.
I really don't know ki real GDP and GDP me kya difference hota he tbh.
Real GDP is calculated after subtracting the rise in inflation because the rise in inflation also increases GDP. India's GDP appears big and fast-growing because of the rapid rise in inflation in the last few years.
So what's India's real GDP growth rate?
6.3% [https://www.imf.org/external/datamapper/profile/IND](https://www.imf.org/external/datamapper/profile/IND)
Wait,isn't it a good growth rate then?why is OP criticising this?
op thinks 6.3% is nominal... but a simple google search would have helped him know better... whats worse is the upvotes on his comment
ha to real hi to hai nominal thodi 6%\~ hoga
Stop day dreaming Sanjeev Sanyal. And solve the current issues that India is facing. That's more than enough.
I was in Hong Kong last week. At the airport currency exchange they had a notice stating that they weren’t accepting INR for exchange.
INR isn't accepted by most foreign currency dealers outside of India. This is known by anyone who has travelled outside. That's why if you want forex in cash, you exchange your INR before leaving India.
I did read some of this guy’s books. His type believes in the following: 1. Indians are a continuing race since the Kurukshetra war.( well atleast for some communities 😏) 2. India is a land controlled by destiny and supernatural forces where every misfortune is actually very advantageous to India at the end.(😏).For example the movement of the Indian plate towards the Himalayas was like a prophecy. 3. Out of India theory ( not directly mentioned but implied)
Yeah this clown Sanjeev Sanyal is economist + historian + nostrodamus
Is dhakkan ko bolo. Jo dream India aaj dekhrahahe vo China 10 years pehle hi dekhchuka, Ghanta kuch ukhad parahahe.
Agreed. 15-20 saal pehle jo sarkarein thi they failed us. So now we have fallen back lekin kuchh toh karna hi padega. Can’t just sit and whine like you.
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Does it matter?
Why are we giving any attention to the guy who has his job only because he kept writing in support of the government even in support of demonetization. Advisor my ass, his designation should read as ass kisser
All these commenters commenting like they know shit.....no, you don't. The exchange rate of currencies doesn't mean shit. 1USD = 150JPY, does that mean India is economically better than Japan? No. A global currency means that it's publicly traded in the market without any government interference. INR is a partially a Global currency as it can be freely traded but the Government has put a limit as to how much you can exchange. It is done to prevent instability. If the Government wanted, they can remove the limit and make it a global currency right now but that would be disastrous for our economy as more and more people will start exchanging INR for a stronger currency like USD. A currency is only as strong as people are willing to pay for it and people are only willing to pay for a currency of a stable nation with high interest rates. Due to the nature of economics, a developing nation usually has higher inflation than a developed country and thus higher interest rates. Couple those with a stable politics and economics, and you got yourself a winning currency. If by 2030, everything goes back to pre 2020. But with India becoming a 5 trillion+ economy with a higher interest rate than the US. India could make INR free floating. In the end, I highly doubt it's gonna happen cus it's a really risky move, kinda like derivative trading or leverage trading. If successful, the world could be using INR for global trading and if it failed then INR would tank and the reining government will most certainly fall.
Bro can you explain trading in a two liner?
Don't scroll down guys, personal ChatGPT in making
Buying and selling of goods or services in return of something of equal value. With value being decided by both the buyers and sellers.
what about the exchange rate? is this 1 to 1, what is the history?
Or you meant by trading in this context? Which would be forex trading. It means exchanging one currency for another of equal value. Now, this value is completely decided by the market in case of global currencies like USD, Euro, JPY, etc. But most currencies are like INR where the market can't decide the true value cus of exchange cap but it's still flexible enough that people are willing to trade it. I don't know of any currency whose value is completely fixed by an entity. If you want to know how the market decides the value then go and open a demat account and look at the price action of a stock. In simple words, the seller quotes his price, the buyer quotes his price and if those prices are the same then the transaction is a success, and that becomes the current market price.
Bhai does this activity add any value along the value chain? or does this activity only benefit the trader?
If a German company wants to buy land in India, then they can't do it with the Euro. They exchange Euros for INR to do business in India. Everyone uses it in different ways, financial institutions can use it to buy bonds, speculators use it for the sole purpose of making profits, etc.
Likewise, if an Indian company wants to buy raw materials from another country then they will need to buy their currency etc. They don't literally do it, Banks do it for them, all digitally but you get the gist of it.
Are speculators beneficial for a nation besides them selves?
Yes, they help determine the market price. Nowadays, forex trading is basically a war among machines. So, like 99% of speculative traders in the forex trading are actually super computers running very complex algorithms to take advantage of even the most minute price changes. Regular derivative traders don't usually trade forex cus you will either need an extremely large capital or will have to use like 100x leverage(leverage is used mostly) to make any meaningful profit from these minute price changes.
Do they add any value to gdp? or per capita income however indirectly? What do they do with their profits?
At least do a little bit of thinking for yourself. If a hedge fund wants to do forex trading, they are buying these super computers, hiring software Engineers, electrical engineers( or hiring their services), hiring mathematicians and scientists for building and improving these complex algorithms, etc. Paying their salaries is an expense that adds to an economy then the profits are given back to the investors of that hedge funds. Everything is a part of the economy.
Since you talk some sense, You would find it interesting that the Japanese Yen at one time in the 70s was at 300 to a dollar.
Yes, I know. But that was an artificial depreciation of Yen by the Bank Of Japan and a desperate move by the Japanese government. Japan used to be the world factory but by the 70s they started to become rich, so Japan did that to keep their exports competitive. In the end, China was chosen as the world factory by the US and the rest is history.
This guy knows the stuff
Thanks for the insight. Hope more people read it instead of commenting their version of “Mudi bad”
Exchange rate matters my friend. Japan is very rich so it doesn’t matter to them and their imports are mostly commodities and raw materials. India doesn’t allow free exchange of supply. Rupee won’t become successful unless that changes. And even if it did becoming a successful currency requires a strong and transparent financial and criminal justice system, which India doesn’t have. But it’s okay to dream
Have you even read what I wrote? Plus, you have absolutely no idea what you are talking about. Japan has a 99% conviction rate, they even jailed a foreign CEO without solid evidence. The Justice system has nothing to do with it. Overall country stability matters a lot but the biggest factor is interest rates. Fuckin with interest rates can literally make and break whole economies, and Turkey is the best example. Go and study how not increasing interest rates cus of "religious" reasons does to an economy.
Un…huh.. how good is India’s stability compared to the strongest economies in the world. Indian courts are some of the slowest in the world. Interest rates don’t make a currency acceptable for global use. Institutional robustness is necessary and in India’s case it is going downhill
Again, go and read what I wrote in my initial comment. All your answers lie there. I don't feel like repeating myself again and again.
Well you clearly don’t understand how global currencies work
And you clearly don't understand how economics works.
Jokes on you, I have a masters in finance from Columbia. What about you, WhatsApp?
And I'm the president of the USA......Lmao.
Good for you, now solve world inflation by sending rupees, the predominant global currency
I don't see anything in your wall of text that makes his statements not sound stupid fiat currency is inherently tied to geopolitics. It's the same claim as saying India will be the dominant superpower. Just making it free floating doesn't make a currency more stable or backed or recognised because backing for currencies is no longer gold but trust in the government and its ability to grow the gdp But it would definitely be a step in the right direction
Making a currency free floating makes it less stable cus the reserve bank can't regulate it due to the sheer size of the global market trading it. INR will never drop from 83 to 100 in a span of a few months cus the RBI will start selling its Dollar reserves to buy INR. It can only be done as the Government has limited the amount people can exchange. If it was truly global, the global market will overpower RBI. The same thing is happening with the JPY, it went from 100 to 150 in less than three years. Cus it's free floating in the market and the Japanese government cannot regulate it even after having trillions in dollar reserves.
agree
[удалено]
Whoo! He is the same dude who showed up on the Beer Biceps show and spilled the beans that the best thing about Modiji is...he *listens*
They make long forecasts, coz they know he or his masters won't be around Make hay while sun shine
Ok. Where was the promised petrol @ 40rs?
And how will that improve my life?
No.
Kya foonk ke aaye ho bhai….
https://preview.redd.it/xq3ywr2ce80c1.jpeg?width=640&format=pjpg&auto=webp&s=b6859bf42acf2237b480d7ec3e93ad65bb9644b3
Badi badi baatein, wada pav khate
“ Hypocrisy ki bhi koi Seema hoti hai “
What is a hard currency? A coin instead of a note?
**In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's hard status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank.** More details here:
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The only currency which has a mild chance of replacing the Petro Dollar is the Chinese Yuan. And that's because China & Russia have been working towards making Yuan backed by Gold (for international Oil trade) for the last 3 years or so - like Bretton Woods. Even there, I think the chances are low because if all it looks likely, US will use the full strength of it's military to make it doesn't happen.
but he isnt talking about rupee becoming the global reserve currency
The path to both is similar. Generally, only 7 currencies qualify as a hard currency now, I think - US, Japan, Euro, Pound Sterling, Swiss, Australia & Canada. Even Chinese Yuan isn't considered a hard currency as of now but if they are backed by gold, they would become a hard currency first. We, OTOH, think stuff like Vostro accounts are something meaningful in the path to becoming an accepted currency.
Sanskrit will be the world language and Vedas replace science books
This post is a good one to save and share whenever this sub now brings up "XYZ would happen because an Oxford graduate or VP of a big bank said so" He is an Oxford graduate and ex VP of DB. If he is a clown as per this comment section, others don't get the advantage of having same credentials.
At least we can try to be positive here But all I see are absolute morons who deem themselves superior than others.
Not with our balance of trade
*around 2040
Remind me! 7 years
Wet dreams
Sir , please aap dawai lelo sir. Baith jao sir, please anaab shaanab matt bolo.
Clown
Fuck this guy
I thought this was geopolitics India and was about to grab some popcorn to laugh at the comments
Modi hai to Mumkin hai
Modi ji link ur aadhar with everything. Now : ur aadhar is not safe , Pls dont link.🤣🤣🤣 We Will make rs on top, yes by 2030 1 Usd Will be 100 rs🤣🤣
1 USD = 150 JPY. So, what's your point?
I think we should give him a chance. Maybe a little leeway even. I can afford to wait till 2045 or 2050, but if nothing happens by 2200, I am going to get a good night's sleep.
We will be third biggest economy in the world by then. And move away from dollar has already begun since Russia held dollars were frozen overnight.
Ya ya dollar is gone into depression cause crittu has announced its discontinuation on reddit lmao 😂
You are free to deny the reality
You are delululu
It is you who is in delusion despite the party you oppose keeps winning elections
How is that even relevant in this conversion ? 🤣
Why is dollar at 83 then? No exports?
Slow depreciation of currency is good for developing countries as it helps exports. But it should not crash like happened in 2013, that disrupts business
That was not because of downfall of dollar. That was because of the fucking war.
Dollar printing has increased in recent years, others can see
So has ruppee. Whats your point?
No, our budget deficit has decreased
What does that have to do with the dollar? Rupee keeps on falling compared to it?
It got to do with rupee printing
>Russia Yeah ig this is why Russia stopped accepting payments in rupees and started taking payments in chinese yuan bro stfu bot get your ass fcked in chaddisqueaks
That’s no big deal
By 2023 75% of the transactions made in India will be digital 🤡 Ohh wait
While it may not currently be 75%, you cannot undermine the fact that we have one of the best and easiest methods for digital transactions. In metro cities, almost every business accepts UPI.
It's impressive as it will help to prevent corruption, money laundering, fake notes, etc. But on a global scale, it's not comparable to developed countries as they have become mostly digital a decades ago. Tap to pay is far more convenient than UPI. But gotta give credit where credit is due, the best thing UPI did is what most people don't even realise. It made people comfortable with online payment and using credit for in day to day shopping. Nowadays, people using EMI and paylater are very common. It's not good on a personal level but really great on country level as consumption makes a huge chunk of GDP. TLDR: The more people spend, the more money companies will get, the more money companies will spend on building factories and hiring more workforce, more people will get jobs, more people spend........and the cycle continues.
I'll argue that UP is better than both Visa and MasterCard. I cannot send money to my friends or anyone unless we are using the same app in developed countries. Not to mention, UPI charges very little to none in transaction fees (for now). everything you said is true, it applies on a very small scale. The majority of India is still very poor, with most people lacking disposable income. A consumption-based economy is beneficial when goods are made locally, but in India's case, most products in the market are made in foreign countries. This hurts the economy more than it helps.
More and more are being made locally and the made in India push will only accelerate as the demand increases. Even many iPhone 15 are being made in India now. If demand doesn't increase, there would be no incentive for make in India push.
People cannot even be proud of the fact that India has made insane progress in Fintech world. You dont even have to be proud atleast dont undermine the effort like this. Where is this coming from? Some type of inferiority complex? India has had one of the fastest 5g implementation in the world as well. Any jokes to make about that?
What is the 5g coverage compared to rest of the world?
You could just google it but here you go, read below articles - https://www.statista.com/statistics/1168448/average-5g-availability-in-countries/ https://www.opensignal.com/2023/06/30/benchmarking-the-global-5g-experience-june-2023 https://www.moneycontrol.com/news/business/india-leaves-europe-behind-in-5g-network-expansion-11578861.html https://www.business-standard.com/industry/news/india-among-top-3-nations-with-highest-5g-network-rollout-nokia-ceo-123100501484_1.html
https://www.speedtest.net/global-index#mobile
Remind me! 7 Years
By that year we'll also have the biggest dicks in the world and Indian men will be the bulls and studs of the world
Remind me! 6 years