Facts : these do not sound as facts - but they are.

At the end of 2023, The New York Times published a listing of 72 of their favorite facts. Here's a pick from them of my 12 favorite facts from the list:

1.  The world produces about 400 million metric tons of plastic waste each year, according to a United Nations report. About half is tossed out after a single use.

2. Research suggests noise from shipping, oil exploration and other underwater human activities may make it harder for dolphins to communicate and work together.

3. Wedding rings stem back to the ancient Egyptians, who believed that there was a vena amoris, Latin for “vein of love,” in the left hand’s fourth finger with a direct route to the heart.

4. According to a study by the sustainability consultancy Edge Impact in 2020, the average American wedding emits 57,152 kilograms of CO2. You would need to plant 2,722 trees to offset that. (Wondering what it is for a simple-not-so-fat wedding in India!)

5. Dashboard touch screens are now integral to most modern cars, which run up to 14 times more code than a Boeing 787.

6. The Demilitarized Zone, or DMZ, between North and South Korea is strewn with two million land mines.

7. In the United States, there are as many as six parking spaces for every car.

8. The human body is continually renewing itself. Billions of cells are replaced every day; by some accounts, after 100 days, enough cells will have turned over to generate an entirely new person.

9. Wikipedia has versions in 334 languages and a total of more than 61 million articles. It consistently ranks among the world’s 10 most-visited websites. Its contributors, who make about 345 edits per minute on the site, are not paid.

10. There are more than 20,000 species of wild bees in the world. They don’t produce honey, but they are indispensable pollinators of plants, flowers and crops.

11. The United States has the largest population of incarcerated people in the world.

12. On a clear day, three of the world’s 10 tallest mountains are visible from Pokhara, Nepal’s second-biggest city.

Source: NYTimes

There are no facts in India. Simply because data is not collated. It is a fact - ask the current government of India on facts on anything except propaganda items.

24 Predictions for 2024

It is that time of the year when we make, read, tear up, criticize, analyze, and more of the predictions made for the upcoming year by renowned leaders from across a spectrum of Industry. Let's look at the 24 for 2024 from the Economic Times of India. 

But, let's first start with 24 Predictions for 2024 given by one person Chetan Bhagat in the Times of India of today 01 Jan'2024. Chetan got the biggest platform one can ask for to put forward a viewpoint and direction - and guess what he does of the opportunity? A waste. He mixes his personal bias and preferences to use the TOI platform to the fullest to sway mindsets. A great job at it though, of course. A slew of catchphrases, keywords, and hype statements form the predictions. A generative AI tool can give a better prediction based on facts and trends.

And, this is what I did. Taking the help of AI tools, come up with 24 areas in which India will have a significant impact:

Here is an analysis of India's economic data across key parameters over 2020-2022 based on RBI, Government of India, and IMF reports, along with 24 inferred points on areas of future growth and progress:

Economic Data Review 2020-2022:

1. GDP Growth Rate: Contracted by 7.3% in 2020 due to pandemic impact. Rebounded in 2021 at 8.7% growth. Projected at 9% for 2022 by the IMF. 

2. Exports: Declined by 7.27% in 2020. In 2021 surpassed pre-pandemic levels at $422 billion. Grew by 43% through Nov 2022 compared to the same period in 2021.

3. Domestic Consumption: Private consumption declined due to lockdowns impacting discretionary spending in 2020. In 2021, returned to 2019 levels by year-end. Projected to remain robust in 2022.  

4. Investments: GFCF declined in 2020 but is expected to revive to the pre-pandemic level of about 29% of GDP by the end of 2022.

5. Capital Investments: FDI inflows hit all-time highs in 2021 at nearly $85 billion and continue to rise in 2022. 

24 Areas of Future Progress and Growth for India in 2024:

1. Consumption spending will drive growth supported by rising incomes and a large middle class.

2. Infrastructure investments in roads, ports, and 5G rollout will aid growth.

3. A thriving startup ecosystem can fuel an innovation economy. 

4. Manufacturing competitiveness schemes to boost export growth.

5. Unleashing the financial sector’s potential can support investment-driven growth due to the strong capital position of banks.

6. Tax incentives for manufacturing solar energy equipment to support renewable expansion.

7. Policy support for EV manufacturing to reduce imports.

8. Thrust on Public Capex spending to spur investment multiplier effects on jobs and income.

9. Creating agriculture infrastructure from farm to fork to reduce wastage. 

10. Labour reforms and skill upgrades to improve employability and incomes.

11. Leverage demographic dividend by providing employment and education opportunities for India's large young population.

12. Promoting digital economy and India stack tools to expand fintech, cashless transactions, etc.

13. Privatization schemes to reduce the debt burdens of state-owned firms.  

14. Global supply chain expansion and export promotion policies. 

15. Unleashing tourism sector potential with higher foreign tourist arrivals.

16. Higher healthcare spending to improve health and productivity outcomes.

17. Financial inclusion measures to channel household savings towards growth-driving investments.

18. A strong external position with high forex reserves provides a buffer against external shocks.

19. Proactive banking sector reforms to improve credit flow and stability.

20. Growth in services sector exports leveraging India's cost competitiveness.  

21. Higher disinvestment and asset monetization targets to fund infrastructure growth.

22. Incentives for R&D and innovation spending to promote a knowledge economy.  

23. Progressive tax regime to boost compliance and promote equity and transparency.

24. Significant urbanization opportunities from rapid growth in tier-2 and tier-3 cities over the long term.

These 24 areas also give an overview of where the government of India should focus, the industry should incorporate into their business plans, and the common person's demand from the authorities.

Image of the day - real but by a generative AI tool incorporating the 5 basic elements of life on Earth and the quest for us to become sustainable to save our Planet.

As we stand at the dawn of a bright new year, may we summon the courage to shoot for the moon. Let us blaze new trails guided by curiosity, daring imagination, and facts. May we take one giant leap together towards peace and global goodwill. Here's to continuing humanity's giant strides!

The Economics of Consumer-Supplier: Indian Perspective # 3

This post is prompted by an article I read in the Economic Times of India of today titled "The devil is not really in the retail" (this text is also posted to the letters to the editor)
I agree with the bottom line of the article that we have to increase (sustain + increase) private consumption. What is mixed up is the relationship between the private consumption and the modern retail. For one, what kind of private consumption should be increased? Daily consumption items or lifestyle items? What is modern retail? How is modern retail making it possible for increase in daily consumption items and lifestyle items – this is the area which is still gray. Rather, it is shade of higher grey towards the consumer lifestyle items to which the modern retail is as of now related to in India.
The so called modern retail is not a vehicle to provide a public place to meet. That is the business model to entice spending while doing so. There is no social good being done by the modern retail. It is in fact creating a burden on the existing infrastructure by not planning its operations at a location where it can benefit from the economies of scale and lower costs.
The advent of modern retail and discounting on daily consumption items is no backed by the quality parameter (in the case of unbranded goods manufactured by leading brands). The use of purchasing power to enable a discount is not reflected in the delivery of quality goods. This is evident from the fact that the so called modern retails are branding their consumer items under own or third party brands and packaging without having any certified quality standards. They do not confirm to ISI or BIS or any other published transparent self created standards. Creating a discounting modern retail model and expecting it survive in the long run without investing in quality is not going to be profitable to the consumer and hence to the retail industry.
The modern retail industry believes it needs to be in the thick of consumers and hence is plagued by high costs. If it was smart enough to not incur costs but let the consumer incur the reach costs – it would be strategically located in a better, bigger, convenient (to reach with public transport or create a transport model) and cheaper location – to benefit from tax structures and lower cost of utilities. The modern retail industry is profitable in spite of the so called cost structures and inefficient government policies – well then there is scope for further discounting and giving flip to consumer demand. Which demand – of course that is the question?
The modern retail industry would do good for itself (thru doing good for the consumer) if it lobbied with the government to update, modify, change the outdated and inefficient measures / standards enabling the consumer get a truly better quality goods for consumption –both daily consumption and lifestyle.

"ecommerce" :: IT Works in India

All along, wherever, around the world i travel and during the course of travel, there are a lot of people from various nations that I meet. One of the pertinent questions posed to me is - does "ecommerce" work in India??
And, I for one, cannot resist delving into the success of ecommerce in India. I have personally used ecommerce service providers - who are both pure digital and/or mortar and brick shops for last 8 years. Yes 8 years and it works with the same precision as expected from world class providers. Of course there could be the normal hic-cups too. One recent service provider whom i came across on Christmas is Zoomin.com (click on logo below for more details). The provide printing services for digital photos. I read its details, uploaded the pics of family that we had shot on Christmas outing and 3 days later the prints are here. All in good shape and condition. At a competitive cost!!

The Economics of Consumer-Supplier: Indian Perspective

For the past 2 months now, that i have been following up the financial crises and it implications in the world over; the impact of the same on Indian economy is clearly evident. In the meanwhile, one thing that has been intriguing me :: who is actually suffering in this economic crises -- the consumer or the supplier. I am taking the view as these two identities are the fundamental cornerstone of the economic enterprise.
In India, the inflation is down 4 -5% over the last 2 monts from a record high, economic growth is projected at over 7%; interest rates are down due to government intravention; job losses announced and unannounced do not seem to be a big issue; Oil price (India is a big importer) are down to 40's $/barrel; Airline fuel costs are down accordingly; YET -- there is NO

• downward revision in prices of air tickets;
• not many discounts being offered on consumer goods;
• fall in demand for services industry;
• reduction in prices of house by builders.

(not an exhustive list)

Two items from the above list 1> airline ticket and 2> house prices are the ones that bring in more wonder to me. Why are they not falling??

The airlines who have been charging extra in the name of fuel surcharge had to simply reduce this component proportionately per the price reduction in fuel. Yet they don't -- leading to confirmation that this so called fuel surcharge includes items of making more margin rather than covering the cost by a pass thru to consumer. What are the consumer doing about it -Nothing. Have they stopped buying tickets - NO. Have they protested in media, directly to airlines or consumer forums - NO. Why?

On the other hand, the builders have been running after the government to take action. Lower interest rates, enhance credit facilities for loan etc - what is that the builder is offering from his pocket(profits) - NOTHING. Why are consumers not waiting - shunning high prices; complaining etc. Because the consumers have money, they are themselves party to the price rise by creating a demand - and giving opportunity to the builder (suppliers) to raise prices.

So is consumer activism (ability to know its rights and ask for them) linked to the economics of everything?

I voice my concern and will advocate it to the world. The consumer is king (without clothes) today and it needs to regain its clothes by advocating its rights.

"Rich, vibrant and complex, India is an ever-growing international presence. The world’s largest democracy continues as the leading IT outsourcing destination..." that is CIO spelling out its trip to India. CIO has published a special report on The IT Manager's Essential Guide to India.

This report is a good primer as well as resource for those CIO's and companies who are wanting to take a competitive advantage in their internal operation.

Its a good tour guide that the CIO editors has compiled of their travel. One thing that i have never been though able to understand is the fascination for pictorial stories of the "India in Transition". An economy that is investing in upgrading its infrastructure, mixing the old and new, enhancing its progress through economic upliftment of a whole mass of people... hmm well it must be fascinating ...