Rohit

🚨 BIG! India to build 100 new airports & 200 helipads with ₹28,840 crore outlay. Modi govt approves UDAN 2.0 🔥

This was as predictable as sunrise. It may be puzzling, that an industry working in a precision engineering sector such as electronics manufacturing, is slow to adopt the Six Sigma quality program. But then - the objective of companies and industrial groups participating in these new sectors is to convert themselves into a large enough special interest that can then lobby the government to continue permanently with the incentives, protections and doles being handed to them. Of course, they employ thousands of people who are busy in assembly work - the objective was they would grow, upgrade and backward integrate over time but that is not happening fast enough, with domestic value addition still at 15-18% by most estimates. Hence the Hon. Minister’s emphasis on raising quality standards and in-house design. But where is the money for design and R&D? These company owners are busy buying up Lutyens bungalows, private jets or other trophy assets. So this new farmer-style lobby will now reverse blackmail the government - “continue the incentives, or we will have to downsize and lay off people because we are uncompetitive without subsidies…pay us or face the security threat and dependency of Chinese and Vietnamese imports”. Some retarded “economists” on this platform, who live with a security state mindset, are hell bent on ramping up import duties and tariffs even higher - forcing Indians to pay even more money for productivity enhancing machines like desktops and laptops. The underlying causes for lack of competitiveness are not being addressed. PLI was supposed to be an intermediate bridge while structural reforms were implemented and deepened - it may become yet another government program which becomes impossible to stop.

Gentle reminder that in May 2014 the Rupee was 58.25 to the dollar. Today it is 95.22.

When $1 was ₹62 When $1=₹95