The Dangerous Reality & Colossal Failure of Modi's India!!

Hello everyone and welcome to Geopolitical Trends. My name is David Oualaalou. So good to be with you as always. As geopolitical analyst, I ask, why did Prime Minister Modi of India economic policies fail to build a large enough middle class consumer base to attract investors? In this video, I am going to provide you my assessments support it with hard evidence and stats and let you reach your own conclusion. So let's dive in into this fascinating topic. You know, economist R. Nagaraj said of India that it had not experienced such an economic downturn over the past 7 decades as it is currently experiencing. Adding that the seriousness of this problem may not yet find a place in the minds of policymakers and the public. And by the way, Nagaraj is a visiting professor at the Center for Development Studies in Trivandrum. Prior to joining the CDS, Nagaraj was a professor of economics at the Indira Gandhi Institute of Development Research. So he's somebody who's from the area, from the country, and he can understand the reality of how it is. So doing my own research on this topic, I fact-checked the sort of the stats and the numbers which suggest how Prime Minister Modi's economic policies have failed to build a large enough middle-class consumer base to attract investors. That is the big problem in India. So the question becomes, is, will it be fair to say that the world should not believe Modi's economic success story? What do you think? There is another researcher by the name of Tim Sahay, who is a non-resident Senior Fellow at the Atlantic Council Europe, Europe Center that is, and also the Senior Policy Manager at the Green New Deal Network. He says, and I quote, don't believe what is said about the success of Indian Prime Minister Narendra Modi's economic policies, noting that India is currently stuck in the trap of growing unemployment. End of quote. Well, here are the facts that I'm gonna share with you about this. Modi failed to deliver on his campaign promises to increase India's industrialization by 25% of GDP and also increase capital investments in airports railways to 11% of its 2023, uh, budget to create a larger domestic market. So despite Modi's promise to add 100 million jobs in the manufacturing sector, India lost 24 million of those jobs between 2017 and 2021, up from 11 million jobs before COVID-19 pandemic. So the numbers don't lie. Here's the thing about the unemployment, which again I fact-checked, and I'm gonna provide you the links to all this information where it came from and why it is accurate, and you can decide for yourself. The numbers of unemployed in India is now higher than it was in 2011. And the outlook for work in cities is so bleak that agriculture now employs a larger proportion of workers than it was 5 years ago. In 2019— get this, guys, and I have the link to all this— in 2019, 12.5 million people applied for 35,000 railway jobs. Let me repeat this: 12.5 million people applied for 35,000 railway jobs. So according to the latest Periodic Labor Force Survey, known as PLFS, released by the National Statistical Office, India's urban unemployment rate jumped to 12.6% in April-June quarter of 2021. That was back then. So you compare it to 9.3% in the January-March quarter. So however, it eased from 20.8% level seen during the first wave of the, uh, of the pandemic., uh, of the COVID pandemic, rather. So, so unemployment rate in India decreased as of today to 7.7% in May from 8.10% in April of 2023. And this is, uh, according to the, the source of it is the Center for Monitoring India's Economy, and I will provide you the link to all this. So there are multiple factors that led to unemployment in any country, by the way, not just India, even here in the US. And speaking of the US, I am going to do a video about the US economy exposing, you know, how the government is lying. The government in the United States is lying to Americans about the real reality or the real conditions of the economy. So I intend to do this video also about the United States. So unemployment can be temporary or permanent depending on whether it is caused by a reduction of force or by lack of jobs. So, and that applies, as I said, to every country. So in the case of India, you, you can reach your own conclusions. Mind you that a lot, a lot of investors are leaving India. I just did the live stream for you guys about the BYD, the company, the carmaker, the Chinese carmaker that wanted to invest $1 billion and India turned it down. So that becomes the question: are we looking at an industrial failure here in India? So the failure to add manufacturing jobs is particularly stark when comparing India to similar economies, let's say in Vietnam or Bangladesh. Okay, that, that, that's what was shocking to me. You know, those countries, those two, Vietnam and Bangladesh, are doing far better, and I'll tell you why. So both countries, Bangladesh and Vietnam, doubled their share of industrial labor between 2000 and 2020. While India share barely rose by 2%. And Vietnam now, currently the country of Vietnam export nearly the same value of manufactured goods with its population of only 100 million people as India does with its 1.4 billion people. So in a simple language is what Vietnam is exporting with small amount of population is equal to the same amount that India is exporting with 1.4 billion people. You will think the manpower will add more in production, not in this case. So one thing is sure which does not get reported openly is that investors privately say that they fear Prime Minister Modi's unstable and volatile use of the tax powers his government employs to punish political opponents. Yes, that's the sad reality, and I don't shy away from saying this. You know, it's the fact— those are the facts. You know, I have nothing against India. As I said, I will do a video about the United States, uh, this disclosing that the economy is doing okay when it's not. So facts are facts. So let me repeat this thing again. Investors privately say they fear Modi's unstable and volatile use of the tax powers his government employs to punish political opponents. What do you guys think of all this? Leave me some comments, and if you like me to further expand on this, I have a lot of information on it. I'll be happy to do it in a live stream, and we can extend the conversation and dig deeper into the true reality of what's going on in India economically. So if you like the content of this video, please hit the like button and don't forget to subscribe. I would truly appreciate it. As always, guys, remember, geopolitics impact your daily life in more ways than one. Till next time, guys, bye-bye.