India's GDP: Whose GDP Is It Really? with Rathin Roy | How India's Economy Works | The Core Report https://www.youtube.com/watch?v=e4UVuOPSM0w Rathin Roy about India's economic growth and challenges, the country's economic transformation, the need for inclusive development, the growing disconnect between the masses and the growth process
the impact of big tech companies like Google and Meta on market competition in India and the recent antitrust ruling against google. They explore how these giants dominate industries through data extraction, stifling innovation and harming suppliers, the need for new regulations to address anti-competitive behavior, the role of digital gatekeepers in shaping the future of the digital economy and much more. https://www.thecore.in/podcasts/big-techs-hidden-costs-and-power-with-payal-malik-632547
https://www.rediff.com/money/column/rathin-roy-the-threats-to-indias-prosperity/20240722.htm These are less 'jobs' than low-paid activities. The contemporary Indian economy is one where:
45 per cent of the labour force works in agriculture.
The share of manufacturing in GDP has fallen to 13 per cent.
800 million people need subsidised food.
Over 100 million people between the ages of 18 and 35 are neither in education nor actively looking for employment.
All the problems of poor countries -- poverty, malnutrition, poor education, ill health, third-rate housing, difficult public transport, poor sanitation -- persisted, even as the rich enjoy globally opulent lifestyles.
These are failed economies, in contrast to the handful -- Ireland, Japan, South Korea, Taiwan, China -- where universal access to basic needs and prosperity became available to all as these countries grew richer.
India has only recently become a middle-income country.
My hope has always been that India will join the minority of nations that will secure a successful development transformation.
But looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure.
There is still scope to remedy these matters, but this will require structural change.