u/MoreFaithlessness954

RBI supremo is saying that if we see a correction in AI-related valuations in advanced economies, some of that capital could potentially flow into India.

Governor of central bank is saying our growth/vikash is waiting for our competitors to slow down/correct/bankrupt. Others must fail for us to succeed, this is our motto.

But even assuming that happens, what exactly is the transmission mechanism?

People sell AI-led stocks in the US and then… buy Campa Cola, Bombay Creamery and HUL soaps?

Also, calling this simply an “AI correction” oversimplifies the US market. Amazon, Meta, Microsoft, Apple and Alphabet are enormous revenue-generating businesses. They are investing heavily in AI, as should any IT(bar Indian IT) but they aren’t AI companies.

If their valuations correct, the money doesn’t automatically become consumption in India, it will only make their companies more attractive.

And if the correction is actually caused by a broader global risk-off event, India could just as easily face capital outflows.

Do we even have a backup plan if they don’t? Why is he not talking about the excessive taxation ?

https://x.com/etnowlive/status/2106295052620399011?s=46

every senior leader has become the spokesperson for everything else except what they’re supposed to do.

PM talks about mangalsutra, melody itni chocolaty kyu hain in foreign travels.

Home Minister talks extensively about elections.

Road Transport Minister talks about ethanol blending and hydrogen.

NSA Ajit Doval is now talking about India’s GDP reaching $38 trillion.

When everyone talks about everything, responsibility becomes increasingly difficult to pin down on accountability.

If something works, everyone can claim credit.
If something fails, there is always another issue, another government, another state, another opposition leader, another historical comparison, or another whataboutery to talk about.

It’s a government where the portfolios are clearly defined on paper, but the public conversation seems to have absolutely no portfolio boundaries.

And then there is the GDP projection in the image.
Ajit Doval reportedly said India’s GDP would rise from $4.015 trillion to $38 trillion in the next 20 years.
The maths deserves some mathematical scrutiny and it’s IMPOSSIBLE.

Going from $4.015T to $38T means the economy has to grow by roughly 9.5x, which requires about 11.9% CAGR in dollar terms for 20 years.
That’s not remotely the same as India’s historical real GDP growth of around 6-7%(which is itself questionable)
At 7% annual growth, $4.015T becomes roughly $15.5T after 20 years.

Of course India is the best location for data centres, because data centres need enormous amounts of cheap land, cheap or free corporate electricity, water, permission to pollute air, water and the environment, and crippling levels of inequality that make it easier to push the costs of “development” onto people who have the least political and economic power to resist it.

They need corrupt governments and babus willing to fast track corporate approvals, subsidize infrastructure, provide incentives to corporations and treat environmental and social objections as obstacles to investment rather than legitimate concerns, while the companies get to celebrate billions in investment and the government gets hafta and another fake development headline.

And what better place to do it than a country that sits near the bottom of the Environmental Performance Index, near the bottom of the World Press Freedom Index, scores poorly on corruption and governance measures, and has enormous inequality, because apparently these are all features rather than bugs when selling a country as the “best location” for data centres.

No country benefits from data centres when the public bears the cost of land, electricity, water, infrastructure, pollution and environmental degradation while private corporations capture the profits, and then the government points to the investment figure and calls it development.
So yes, India is the best location for data centres, if “best” means cheap land, cheap resources, weak environmental protection, weak accountability, weak press freedom, corruption, inequality and a government willing to bend over backwards for corporations while everyone else is expected to call it progress.

Data centres are a catalyst for making the rich even richer and the poor even poorer, while communities living around them are left to bear the environmental and health costs. And for the people who have no power to stop it, it’s our curse and fate.

In an interview with IANS, Aditya says police detained him and kept him separated from his parents for around 8 hours.

He also says that police beat his parents, threatened the family, and warned them that if they returned to the protest, they would be beaten again and an FIR would be filed against their parents.

This is a six-year-old child. SIX!!

How disgusting is this? The absolute anarchy of treating a six-year-old this way is beyond comprehension.

And this is happening under the current government who is both at the Centre and in Bihar.

Source: https://x.com/ians_india/status/2093700076845805748?s=46