Indian Economy

[eastern_bhartiya]

If people understood these,

It mostly stems from the socio-economic disparity between the migrant workers and the local population. It cannot be tackled through effective law enforcement. It is not a political issue either.



Labor market's situation effects every bidder.

I have closely observed these "bids" and the profit margins are so large that even at > 10% cost escalation due to project and inventory mismanagement these companies still manage to make good profits. If these guys are so concerned about price escalation, why not start with their own pay checks?

We cannot promote labor exploitation under the garb of "inflation control". If such argument holds then let us freeze the compensation at every level in every business/trade. Why stop at salaries, let us cap the service charges and other consumable prices.

Programs like MNREGA have a very positive impact in Purvanchal and Northern Bihar (places which are the primary sources of migrant labor). It did not only ensured employment close to home, it also made sure that the money spent by the benefactors added into the local economies. Similar government programs have reduced the problems stemming from the extreme poverty prevalent in these regions.

You got the argument wrong, people have issue with mnrega being a persistent thing, when in reality it should have been a stop-gap solution for an issue that is much bigger. coming purvanchal it isn't all rosy here, people are still going to other states. No serious industry there, which makes the whole work close to home thing just a talking point.

Second thing local economics don't work in isolation, if the region remains unproductive then it means local economy hasn't being used to full potential. Unproductiveness unfortunately is a big issue and mnrega is like w life support system that is keeping a patient just alive, sure it can do that for as long we want, but eventually we should aim to improve condition of the patient To the point where life support system is no longer required.

Nobody wants to abolish mnrega without a overall massive development of that region, issue is political class doesn't want to go beyond hand-outs. It is what frustrates people.

 

[DingDong]

You got the argument wrong, people have issue with mnrega being a persistent thing, when in reality it should have been a stop-gap solution for an issue that is much bigger. coming purvanchal it isn't all rosy here, people are still going to other states. No serious industry there, which makes the whole work close to home thing just a talking point.

Second thing local economics don't work in isolation, if the region remains unproductive then it means local economy hasn't being used to full potential. Unproductiveness unfortunately is a big issue and mnrega is like w life support system that is keeping a patient just alive, sure it can do that for as long we want, but eventually we should aim to improve condition of the patient To the point where life support system is no longer required.

Nobody wants to abolish mnrega without a overall massive development of that region, issue is political class doesn't want to go beyond hand-outs. It is what frustrates people.

I have witnessed the transformation with my own eyes.

During the COVID when millions of daily wagers returned back home (many were forced), the local governments feared large-scale economic distress and unrest. Thankfully, the government programs like MNREGA came to the rescue. MNREGA is not a zero-output program, it has resulted in improved rural and semi-urban infrastructure, indirectly promoting further economic development.

Many of the benefactors decided to stay back and run local businesses instead of migrating for jobs, further contributing into the local economies.

People can give "whatever" reason, but if you scratch the surface a bit, you will find that the real pain for these businesses is the lack of access to the cheap and exploitable labor. This access cannot be provided at the cost of human dignity.

Being a welfare state, the government cannot leave people at the mercy of the "natural selection process".

 

[ezsasa]

Labor market's situation effects every bidder.

I have closely observed these "bids" and the profit margins are so large that even at > 10% cost escalation due to project and inventory mismanagement these companies still manage to make good profits. If these guys are so concerned about price escalation, why not start with their own pay checks?

We cannot promote labor exploitation under the garb of "inflation control". If such argument holds then let us freeze the compensation at every level in every business/trade. Why stop at salaries, let us cap the service charges and other consumable prices.

Programs like MNREGA have a very positive impact in Purvanchal and Northern Bihar (places which are the primary sources of migrant labor). It did not only ensured employment close to home, it also made sure that the money spent by the benefactors added into the local economies. Similar government programs have reduced the problems stemming from the extreme poverty prevalent in these regions.

mine is not a argument for or against.
nobody needs to sacrifice anything, every body involved can earn more than before, consumers will pay a little more, that's about it.

 

[eastern_bhartiya]

I have witnessed the transformation with my own eyes.

During the COVID when millions of daily wagers returned back home (many were forced), the local governments feared large-scale economic distress and unrest. Thankfully, the government programs like MNREGA came to the rescue. MNREGA is not a zero-output program, it has resulted in improved rural and semi-urban infrastructure, indirectly promoting further economic development.

Many of the benefactors decided to stay back and run local businesses instead of migrating for jobs, further contributing into the local economies.

People can give "whatever" reason, but if you scratch the surface a bit, you will find that the real pain for these businesses is the lack of access to the cheap and exploitable labor. This access cannot be provided at the cost of human dignity.

Being a welfare state, the government cannot leave people at the mercy of the "natural selection proces

Again, nobody wants to take away their dignity issue here is slow development is regards to rest of the country. As long as there is more oppertunity in other states people will continue to migrate.

What are we doing to ensure that they aren't dependent on mnrega forever ? If 4 people are doing something that can be done by 1 person that a machine then in logn-term that's a waste of 3 people and alot of time.

 

[DingDong]

mine is not a argument for or against.
nobody needs to sacrifice anything, every body involved can earn more than before, consumers will pay a little more, that's about it.

The real issue is a lack of access to the migrant workers which forced these businesses to hire the locals.

Now, these local laborers unlike the migrant ones have been "resisting" the exploitative practices which had become a norm at these workplaces. The reason being, unlike the migrants the locals can easily muster political and social backing if required. Just look at the recent labor unrest in Karnataka, Tamilnadu, Haryana, and Maharashtra.

These business just want the good old days to return. At what cost?

Again, nobody wants to take away their dignity issue here is slow development is regards to rest of the country. As long as there is more oppertunity in other states people will continue to migrate.

What are we doing to ensure that they aren't dependent on mnrega forever ?

The migration has not stopped. But it has reduced significantly to the extent that the so-called "industrialized" states are feeling the pinch. A lot of things are being done to improve the local economies. MNREGA was just a building block, and it has done it's job.

And yes, these government efforts are closely linked with the issues like extreme poverty and human dignity.

 

[ezsasa]

The real issue is a lack of access to the migrant workers which forced these businesses to hire the locals.

Now, these local laborers unlike the migrant ones have been "resisting" the exploitative practices which had become a norm at these workplaces. The reason being, unlike the migrants the locals can easily muster political and social backing if required. Just look at the recent labor unrest in Karnataka, Tamilnadu, Haryana, and Maharashtra.

These business just want the good old days to return. At what cost?

business wallahs will figure something out, like they always do.

 

[eastern_bhartiya]

The real issue is a lack of access to the migrant workers which forced these businesses to hire the locals.

Now, these local laborers unlike the migrant ones have been "resisting" the exploitative practices which had become a norm at these workplaces. The reason being, unlike the migrants the locals can easily muster political and social backing if required. Just look at the recent labor unrest in Karnataka, Tamilnadu, Haryana, and Maharashtra.

These business just want the good old days to return. At what cost?



The migration has not stopped. But it has reduced significantly to the extent that the so-called "industrialized" states are feeling the pinch. A lot of things are being done to improve the local economies. MNREGA was just a building block, and it has done it's job.

And yes, these government efforts are closely linked with the issues like extreme poverty and human dignity.

Well the the way to reduce labour exploitation us again : make labour costly for good reason.

Nobody is fan of l&t here, conversation was about mgnrega and overall condition of places like bihar and purvanchal

 

[DingDong]

Well the the way to reduce labour exploitation us again : make labour costly for good reason.

Nobody is fan of l&t here, conversation was about mgnrega and overall condition of places like bihar and purvanchal

The situation has improved significantly in the recent years (past 10 years). The change is clearly visible to the naked eyes. There is a reason behind significant reduction in inter-state migrations. MNREGA is not the only reason.

business wallahs will figure something out, like they always do.

Looking at the manner in which these old hogs have been whining and complaining, I am not very hopeful. They are not ready to reform.

Just read the recent statements by these "industry leaders" on the topics like "AI" and "industrial research". They are still in the jugaad mode. That is how they prospered, that is how they want to run their businesses while they are in control.

Old habits die hard.

 

[eastern_bhartiya]

The situation has improved significantly in the recent years (past 10 years). The change is clearly visible to the naked eyes. There is a reason behind significant reduction in inter-state migrations. MNREGA is not the only reason.



Looking at the manner in which these old hogs have been whining and complaining, I am not very hopeful. They are not ready to reform.

Just read the recent statements by these "industry leaders" on the topics like "AI" and "industrial research". They are still in the jugaad mode. That is how they prospered, that is how they want to run their businesses while they are in control.

Old habits die hard.

Your last part is spot on, untill new generation of management and policy makers are in charge we're stuck with basically 1980s mindset.

 

[ArjunMK1A]

What has happened to these people? Who is feeding them these weird ideas?

View attachment 24956

View attachment 24957

Problem is too much of SOP for an Rural People when these people have a chance of contributing in building nation in a more productive manner.

Objective is to build an pool of skilled workers who can be employable. Something China achieved which results in large skilled worker pool.


Because at present seeing the E-SHRAM Portal about 15 Crore people working in Agriculture as of Feb 2025.

https://eshram.gov.in//dashboard

Compared to Agriculture other sectors simply small. Since Construction and Apparel are major opportunities but skill pool is small.

But L&T founder gave an superficial fact, since lot of work with respect to Skilling up still outdated and need this mega companies support. Eg. TATA is doing an skill up program with Assam Gov for OSAT facility. Upgrading ITI from TATA inputs. These things were available in Automobile sector. If construction sector brings similar things, this will improve HR availability.

 

[sameer]

Volkswagen's $1.4 billion India tax tussle rekindles foreign investor fears

India's tax demand of $1.4 billion from Volkswagen, following 12 years of investigation, raises concerns for foreign investors in India. Despite Prime Minister Modi's efforts to attract investment, prolonged tax disputes may deter companies, as seen with automakers facing billions in disputed taxes.

economictimes.indiatimes.com

 

[eastern_bhartiya]

Volkswagen's $1.4 billion India tax tussle rekindles foreign investor fears

India's tax demand of $1.4 billion from Volkswagen, following 12 years of investigation, raises concerns for foreign investors in India. Despite Prime Minister Modi's efforts to attract investment, prolonged tax disputes may deter companies, as seen with automakers facing billions in disputed taxes.

economictimes.indiatimes.com

Muh foreign investment

 

[DingDong]

Problem is too much of SOP for an Rural People when these people have a chance of contributing in building nation in a more productive manner.

Objective is to build an pool of skilled workers who can be employable. Something China achieved which results in large skilled worker pool.


Because at present seeing the E-SHRAM Portal about 15 Crore people working in Agriculture as of Feb 2025.

View attachment 24994

https://eshram.gov.in//dashboard

Compared to Agriculture other sectors simply small. Since Construction and Apparel are major opportunities but skill pool is small.

But L&T founder gave an superficial fact, since lot of work with respect to Skilling up still outdated and need this mega companies support. Eg. TATA is doing an skill up program with Assam Gov for OSAT facility. Upgrading ITI from TATA inputs. These things were available in Automobile sector. If construction sector brings similar things, this will improve HR availability.

The whole criticism of the government projects like MNREGA stems from the idea that the poor people are devoid of aspirations, once they achieve a certain degree of social security and financial comfort they will refuse to work.

Nothing can be more devoid of truth. In fact, it is extreme poverty that kills a person's aspirations. Extreme poverty is like a bottomless pit.

The boomers of Indian industry are angry because the new generation of employees are refusing to sacrifice themselves for the sake their employers.

As far as skill development is concerned, just look at the manner in which many IT companies are trying to ride the LLM bandwagon (stopped hiring the freshers) and failing miserably.

India's business owners' attitude towards expansion and innovation is radically different compared to west and China. There lies the real problem. Remember Micromax? Despite several years of monopoly, the company refused to innovate and perished.

 

[ezsasa]

Compared to Agriculture other sectors simply small. Since Construction and Apparel are major opportunities but skill pool is small.

But L&T founder gave an superficial fact, since lot of work with respect to Skilling up still outdated and need this mega companies support. Eg. TATA is doing an skill up program with Assam Gov for OSAT facility. Upgrading ITI from TATA inputs. These things were available in Automobile sector. If construction sector brings similar things, this will improve HR availability.

oct 2024
===

L&T offers free training programme to tackle workforce shortage​

L&T offers free training programme to tackle workforce shortage

Larsen & Toubro (L&T) is struggling to fill its free training seats despite an urgent need for skilled blue-collar workers. The company is offering free training

content.techgig.com

 

[DingDong]

oct 2024
===

L&T offers free training programme to tackle workforce shortage​

L&T offers free training programme to tackle workforce shortage

Larsen & Toubro (L&T) is struggling to fill its free training seats despite an urgent need for skilled blue-collar workers. The company is offering free training

content.techgig.com

Should have collaborated with the existing ITIs. Besides, what should the trainees expect to achieve after completion of the "free" training?

Where is the incentive here? If this kind of up-skilling fails to improve peoples' earning why would they spend time even if it is offered for free?

 

[sameer]

Good interview about deregulation from the CEA


View: https://www.youtube.com/watch?v=JfEdM5F9wsw

 

[Blademaster]

Muh foreign investment

Hit piece paid by Volkswagen trying to get out of its tax obligations. Volkswagen didn't stop investing in America after being hit with the largest corporation fines at that time. India need to stand firm on its ground and hold VW responsible for the taxes it owes to India.