Comments by "红火树 RedFireTree" (@firetree2007) on "India Opts Out of World’s Largest Trade Deal | World Business Watch | World News | WION" video.
-
with more than 10 years under BJP/Modi, India with 90% of population earns $2 a day, and with India's manufacturing down from 17% in 2013 in GDP to 12.84% in 2023 with no hope to get industrialized.
India's richest 1% of the population owns 40% of the country's wealth, and the richest 10% own 77%. Based on this, we can do a calculation using the total GDP to estimate income distribution.
India's total GDP for 2024 is $4 trillion, with the average income (GDP per capita) being $2857 per year.
Top 1 % own 40% of the wealth, that is $1.6 trillion, and shared by 14 million people, with income for them is $114,286 a year per person.
If 77% of the wealth goes to the top 10%, that amount is $4 trillion x 77% =$3.08 trillion, among it, $1.6 trillion is already taken by top 1%, so it is $3.08 trillion- $1.6 trillion= $1.48 trillion, shared by 9% of India population, to make it for this group to have $11746 per person per year.
The remaining $920 billion (23% of GDP) is shared by the rest of the population, which is 1.26 billion people (1.4 billion total population minus the 0.14 billion in the top 10%).
Now, dividing this $920 billion by 1.26 billion people gives $730 per year per person
Thus, the bottom 90% of India's population has an average income of about $730 per year, far lower than the national average GDP per capita of $2857. The real income for many would be even lower due to wealth concentration at the top.
From the calculation we know, for 90% of the Indian population, 1.26 billion people, the income is $2 a day.
The United Nations defines poverty as an income of less than $2 per day, and the international poverty line is set at $2.15 per day. so that 90% of the Indian population live under the UN poverty line on average, certainly among 90% some got higher income, some got much lower, this is just on average.
7
-
7
-
With India's R&D only 0.65% of its GDP, $23 billion, as the same amount of money as a private company in China, Huawei, put into R&D a year ($25 billion), we do not worry there would be any new tech can come out from India. Same is true for India kicked or lost so many foreign companies, and with target of FDI of $110 billion, but reality is only $10.6 billion, so we can make sure there is no new or high quality products can come out of India, there is totally nothing to worry about , India will remain a poor and backward agriculture country.
5
-
4
-
3
-
3
-
nothing change much in India's history and they do not learn nor they can remember their lessons, for neither BJP or the Congress on this point, the same, this kind policy is not new, it has been in India all the way, with this policy, India almost bankrupted in 1991, that forced India to changed, now India is back to the time before 1991, in the long run, it is not sustainable, besides it benefits Adanis and Ambanis, the country will lag more in the world due to afraid of competitions.
2
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1