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Reverse Brain Drain to Developing Economies

Discussion in 'World Economy' started by santosh, Apr 12, 2014.

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  1. santosh

    santosh Major SENIOR MEMBER

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    @Averageamerican

    NRI grooms no longer in demand
    Oct 23, 2012

    The charm of the NRI groom is fading in the marriage market as overseas economies continue to be unstable. :coffee:

    Indian brides, it seems, are paying attention to what the song, "Pardesiyon Se Naa Ankhiyaan Milana", preaches. Girls from NRI families too, are humming "Yeh Mera India". It's India shining for both when it comes to seeking life partners, as Indian and NRI girls want matches in India. Now, while 50% of Indians as well as NRIs discreetly mention in their wedding profiles on matchmaking portals that they are not interested in an NRI match, the remaining 50% don't put 'NRI' as even one of the options in the preferences. :facepalm:

    Gourav Rakshit from a wedding portal says, "During recession in 2008 and 2009, 60% of the people registering on our portal mentioned 'no NRI grooms'. In 2011, after America was stripped of its AAA rating and many NRIs returned home looking for jobs, this year too, 50% have mentioned they don't want NRI grooms." Rakshit adds that things have gotten worse as even NRI girls are now looking for India-based grooms. "Many NRI families seeking a match for their daughters too have mentioned they don't want an NRI groom," he says. :facepalm:

    Faced with declining salaries and job cuts, an increasing number of NRIs is moving to India. The Doshi family in New Jersey is one such. Their daughter, Hetal, who is married to an IT professional, recently shifted to India after her husband lost his job. Her parents have now decided to look for an Indian groom for their younger daughter, Shikha. Her father, Jigen Doshi, told us, "Many NRIs are shifting to India. Western economies are unstable."

    Murugavel Janakiraman, founder and CEO of another wedding portal, says, "With the Indian economy booming, Indian grooms are looking as attractive as the NRI ones. Indian brides are realising that professionals in India are as smart, qualified and well-paid as their NRI counterparts."

    Says Anushree Pal, who is looking for a groom for her 26-year-old daughter, "After 9/11 and other terror attacks around the world, there have been so many reports where Indians have not been treated well. I don't want that to be the case with my daughter. Also, we have everything here now - from top brands to supermarkets. My daughter will have it all, so why go for an NRI?"

    For research analyst Preeti Vats*, 26, India is where the heart is. "Given the recession that's hit the foreign market, my parents haven't looked for a match outside India. India is progressing at an amazing rate - we have everything here, including our families." Says Suggandha Mehrotra, 26, 'I would rather marry a desi because they are a safer bet. There are fewer chances of them being handed the pink slip."

    NRI grooms no longer in demand - Times Of India
     
  2. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    Never heard of any country that become successful by having to sending their citizens to other countries for education, training and job experience. If you think you can send enough Indians here that will return home smart enough to straighten India out be my guest.
     
  3. santosh

    santosh Major SENIOR MEMBER

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    hmmmmm, they are hired by the multi national firms, who offer higher wage and many of them accept to move overseas too for the same purpose :coffee:

    here, what's the reason that US's firms coming to India to hire professionals from here, including campus selection of the indian students going there for higher studies? already unemployment in US has been a news to world, hardly 63% working age people there have any source of income, while this excludes early retired people, house wives, student etc too.......... then why do they pay higher salaries to indian professionals to run their industries? :coffee:

    => Bureau of Labor Statistics Data

     
    Last edited: Jun 20, 2014
  4. santosh

    santosh Major SENIOR MEMBER

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    @Averageamerican
    @forjeet
    @Picdelamirand-oil

    along with my last few posts, why this man comes to India in behalf of his voters, whose 90% civilians would like to move out from Britain, in fact. check..... :coffee:

    Check these news as below too :tup:

    => its a simple case that those who can't help themselves, want to help Indians in India, as below :tsk:

    Almost 90% would 'consider moving abroad' for better financial prospects - Telegraph


    =>
    Cameron leans on cliches to avert British decline (Op-Ed) — RT :tsk:
     
    Last edited: Jun 23, 2014
  5. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    At least there are not 400 million living on less then 1.25 a day.
     
  6. santosh

    santosh Major SENIOR MEMBER

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    first, all the growth of India has been covered up due to high population growth. as discussed in the next post#52, with per capita income at $20,000+ at PPP, total number of Middle Class of India is now well over 350million, more than total population at the time of freedom in 1947.


    we generally remember 1991 Economic Reform of India, as the year till then per capita income of India was higher than that of China, as below :coffee:

    BRITAIN GDP PER CAPITA PPP at 1991, $22808.53
    United Kingdom GDP per capita PPP

    RUSSIA GDP PER CAPITA PPP at 1991, $12,625.62
    Russia GDP per capita PPP

    INDIA GDP PER CAPITA PPP at 1991, $1,216.63 :coffee:
    India GDP per capita PPP

    CHINA GDP PER CAPITA PPP AT 1991, $1,100.66
    China GDP per capita PPP


    while Average Growth Rate of India since 1951 itself stands at around 5.82% to date.....
     
    Last edited: Jun 24, 2014
  7. santosh

    santosh Major SENIOR MEMBER

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    @Averageamerican

    from here, we have a picture of changing India as below, which may have a place here too, i think [​IMG]

    Literacy Rate


    here the comparison based on 347 million people in 1947 to 1.25 billion people by 2013. here we find, Youth Literacy Rate would have reached 90%+ by 2013, as we had almost 95%+ attendance of kids in schools since 1997

    Per Capita Income of India

    Considering the method which was in application till 2006, by both World Bank and IMF

    British Left around 2% to 5% rich and rest poor in 1947, out of total 347 million population in 1947, while we now have around 350 million Middle Class of India whose Per Capita Income is well over $20,000+ on PPP now, similar to Very High HDI countries like Argentina, Poland, Saudi Arabia etc [​IMG]

    We have new GDP Per Capita on PPP calculation for India considering the year 2013 also, as below:

    now poverty of India is because of its over population. Most of the problems of India is because of its Over Population and India has to reduce its population only. otherwise India has around 350mil Upper Middle Class, more than total population in 1947, whose per capita income on PPP is similar to the Very High HDI countries like Argentina, Poland, Saudi Arabia etc. one day I calculated as below:-

    first, we find GDP on PPP of India was $4.8tn in 2012 but its still manipulated by the US/UK since 2007. as, till 2006, we had a different way of measuring GDP on PPP which used to include estimated undocumented part of GDP also. and I remember, this way GDP of high population 'developing' countries was around 50% to 80% higher, and for the middle order countries like Brazil/Turkey it was around 10% to 25% higher. and for the developed nations, the difference was hardly around 1% to 3% by that "Old Method" which was in application till 2006. like as below:
    means, GDP of India on PPP was already $5.16tn in 2007, higher than Japan that year, making it the 3rd Largest Economy on PPP by 2007 itself this way. [​IMG]

    again we have India's growth rate since 2007 as below:

    India GDP Annual Growth Rate


    here we find, "Average Growth Rate" of India from first quarter of 2008 till the December quarter 2012, stood at around 7.6%, on 'annual' basis. hence considering GDP on PPP of India at $5.16tn in 2007 by Old Method as above, with the estimated 5.0% growth by 2013, we may calculate its value by 2013, after 6 years since early 2008, as below:

    GDP on PPP of India by end 2012 = 5.16*1.076*1.076*1.076*1.076*1.076*1.05= $7.81 trillion on PPP

    but we would also get to know that PPP value consider value of goods and services in US$ term, means we would also include the factor of inflation of United States also. and if we consider average 2.0% inflation of US for these 6 year in between early 2008 to 2013, with considering an overall factor of just 1.12 this way, then GDP on PPP of India comes around = 7.81* 1.12= $8.75tn by 2013. and it still hasn't included 'Value Added' effects........

    again, we know that share of agriculture would be around 17.0% in India's GDP in 2013. therefore, we find share of agriculture in indian economy, 0.17 * 8.75= $1.5 trillions (around), on which 50% population of india is dependent. means around 600mil people based on agriculture in india have per capita income around = $2,500 on PPP by 2013 this way, which is itself similar to the better side of Lower Order Countries like Bangladesh.....

    this way, 8.75 - 1.50 = $7.25tn is left for rest of 600mil people based in industry and service in India, with per capita income of around $12,100 on PPP which is higher than Middle Order Countries like Brazil, South Africa etc..........

    The World Factbook


    again, we have news that 25% of the population of cities are either in slum or in bit better condition only. so we would consider per capita income of 300mil living in cities in low condition at hardly $3,000 which takes a share of $900 billion from its GDP. hence we are then left with around 7.25 - 0.9 = $6.35 trillions for the rest of 300 mil people living in cities, the so called Middle Class of India with per capita income around $21,166 on PPP this way.

    but it is estimated that out of total 600mil people based in agriculture sector, it also has around 50mil Lower Middle Class with Per Capita Income around $15,000 on PPP. (as we know that agriculture has higher share of 'undocumented' part, with that, Agriculture also has higher share of non-taxable business of India.) Hence, we find total middle class of India around 350mil with per capita income around $20,000+ on PPP which is similar to Very High HDI countries like Argentina, Poland etc, which is more than total population of India at the time of freedom in 1947 [​IMG]
     
    Last edited: Jun 25, 2014
  8. santosh

    santosh Major SENIOR MEMBER

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    The Industrialized India

    ; India has now entered among the Newly Industrialized nations as below:

    => Newly industrialized country - Wikipedia, the free encyclopedia


    India had overall 5.81% growth rate since 1951.....
    India GDP Annual Growth Rate averaged 5.81 Percent from 1951 until 2013

    India GDP Annual Growth Rate | Actual Data | Forecasts | Calendar

    We now have Industrialists as below too, who are building the nation. as we do know that our these honored Super Riches/ Billionaires don't have money in pocket, but they are Industrialists/ billionaires in terms of the industries they have to provide employment, generating taxes for the government which government use to help the common public itself, with introducing new technologies too through their industries, hence building the nation this way....[​IMG]

    The report as below, mention around 115 Billionaires in India, as compare to hardly around 60 by Forbes. its because Forbes estimate only Share values, while the report as below includes, "shares in public and private companies, residential and investment properties, art collections, planes, cash and other assets, according to Wealth-X...".
    World's Billionaire Club Grows; Ultra Millionaires Lose Money - WORLD PROPERTY CHANNEL Global News Center

    and here is the main report, as below.....
    Wealth-X World Ultra Wealth Report 2011-2012 | Wealth-X


    Further to the above talks, BRIC economies as whole have their UHNWI estimate, with India's at around 8,200, is given in the article as below:


    => BRIC Country Super-Rich Worth $4 Trillion

    The future of wealth will be built with BRICs.

    According to new data from Wealth-X, the wealth research and consulting firm, Brazil, Russia, India and China now have a combined 25,600 people with $30 million or more in net worth (which includes shares in publicly traded and closely held companies, residential and investment real estate, art, planes, cash and other investible assets).

    That is about half the number of ultra-high-net individuals in the U.S., according to Wealth-X.

    The BRIC ultrarich have a combined net worth of $4.125 trillion, compared to $6.4 trillion for the U.S.

    [​IMG]

    What is most interesting about the BRIC data is the concentration of wealth at the very top of the wealth pyramid. In Russia, the nation’s 80 billionaires account for 7% of the total population of people with a net worth of $30 million or more, but they own 84% of that group’s $640 billion in wealth.

    In Brazil, the nation’s 50 billionaires account for less than 1% of the ultrarich population but a third of the group’s $890 billion in wealth. India’s 115 billionaires represent 1.4% of the total ultrarich population and 20% of the group’s wealth of $945 billion.

    China’s billionaires account for 1% of the ultrarich and about a third of their wealth of $1.65 trillion.

    The U.S., of course, isn’t exactly a model of equity when it comes to billionaires and the ultra-rich. Its 450 billionaires account for less than one percent of the ultra-rich population but control 25% of the group’s $6.4 trillion wealth.

    But the fastest global growth in billionaires and their lesser ultra-rich aspirants will likely be from the BRICS rather than the U.S. or Europe.

    “In Russia, as in other emerging markets….billionaires and near-billionaires, followed in aggregate by the mass of ultra-high-net-worth will dominate wealth,” according to Wealth-X.

    Which country would you want to live in if you had a net worth of $30 million or more?

    BRIC Country Super-Rich Worth $4 Trillion - The Wealth Report - WSJ
     
  9. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    I have been to a lot of countries, I would still choose the USA. India population is almost a 1000 per square mile, the US is 87. I don't like crowds.
     
    Last edited: Jun 24, 2014
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  10. forjeet

    forjeet Lieutenant FULL MEMBER

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    @santosh avg american just trolling u (one Liner) any way good analysis
    Why most org don't take GDP in PPP terms i mean it sounds good(for India:agree:) but they only consider nominal terms
     
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  11. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    PPP is not considered reliable by most economist, according to PPP living standards in India are same as Japan. Do you think any intelligent person really believes that.

    [​IMG]
    Image Credit: Wikimedia Commons
    World Bank: India Overtakes Japan as World's Third Largest Economy
    In purchasing power parity (PPP) terms, India is now the world’s third largest economy — surpassing Japan.
     
  12. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    The World Bank’s report has been widely featured in the Indian media and is a morale-improving piece of news for a country that has been besieged by high inflation, stagnant growth, corruption, and other economic ills in the past year. Narendra Modi, the Bharatiya Janata Party’s candidate for prime minister in the ongoing election and the front-runner, rose to popularity primarily because voters see him as a candidate capable of transforming India’s economy for the better. Modi has frequently held up his (debatable) economic achievements in his home state of Gujarat, where he was chief minister, and has claimed that he would transfer that model of governance to India as a whole.
     
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  13. Zeus_@21

    Zeus_@21 Major SENIOR MEMBER

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    India has a long path to walk. It may take 20 to 25 years of rigorous work to set things right.

    My priorities:

    1) A total restructuring of Education systems ( like linking up the best schools to the worst, through e-learning) and health services. Special focus should be paid to rural India.
    2) A two child policy. Not by enacting law, but by mass campaign, special benefits to the families having less kids and high availability of family planning facilities/contraceptives/condoms.
    3) Proping up businesses and investment in semi-urban/rural sectors to stop mass migration of people from villages to big cities.
    4) Using modern techniques for agricultural farming and increasing the number of cold storage facilities. Without food one can't survive/grow.
    5) And last but not the least..... kicking the butts of the corrupt a**holes. :LMAO:
     
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  14. santosh

    santosh Major SENIOR MEMBER

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    hmmm, as of 2011, around 400million people are estimated below $1.25 per day income as below. but if we consider the method of measuring PPP estimate of GDP till 2006, which was in use by World Bank and IMF both, then we find around 400million people below the new world bank poverty line of $2.0 per day this way, as calculated as below :coffee:

    => List of countries by percentage of population living in poverty - Wikipedia, the free encyclopedia

    just to discuss the topic, we find around 30% population of India below $1.25 per day income in the above list. and if we adopt the old method, while considering its uniform effects on the all income group, then we find $1.25 = 5.16/3.19 * 1.25 = $2.02. means, $1.25 per day income is equivalent to $2.02 per day income by old method, which was in application till 2007.

    (things don't really work in linearity, we can't really say that undocumented part of GDP on PPP might have registered the same type of growth. but we do have something to talk.)

    hence this way we find only 30% people below poverty line of International Standard of $2.0 a day income too :coffee:
     
    Last edited: Jun 28, 2014
  15. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    Yep am sure you could live well in India on two dollars a day.
     
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