| Subject: | Re: Indian Economy |
|---|---|
| Date: | Mon, 16 Sep 2019 23:56:27 +0000 |
| From: | Jas Jain |
In addition to auto sales mentioned by my very smart nephew (appended), here are some other indicators that I have seen on business news channels:
1. Oil consumption down, YoY, for the first time.
2. Indian banks carrying the worst ratio of bad loans.
3. CPI is falling.
4. GDP growth rate is declining much more rapidly than China.
When, not if, the global depression begins Indian economy and political system would fair far worse than any other major economy. The debt situation in India is horrible and India is very dependent on foreign capital flows.
Jas
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From: Gaju (My Nephew)
Sent: Sunday, August 25, 2019 4:55 AM
Subject: Indian economy
I read your email subjecting Great Depression and Recession.
Indian economy is also going through a tough time. Sales of automobiles has fallen down consecutively for 9th month and total fall in sale of automobile is 30%. I am pretty sure the figures are correct because we manufacture Ferro Silicon when is an input in automobile industry. Initially we faced fall in prices then followed by fallen demand with fallen prices and now we see that many automobile companies have taken a shut down for month long. Another classical example is of the Parle-G company who has warned government of firing 10000 Labour if government fails to do necessary correction in the taxation.
What's your opinion about Indian economy.
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