sinbad
08/05/2020, 01:46:35
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But seriously, India need at least a 9% GDP growth to accomodate the 12 million new job seekers every year. Looking at the chart below for the past 25 yrs, half of the time India was able to hit close to 9%. Look at the anomaly in 2010 when India's growth peaked close to 12%. That's when India was bragging about how it will overtake China and then the US as a superpower. Currently, its grwoth is below 4%, probably around 1.5%. That means millions of jobs just went poof. It will take a decade or more to pull out of this. By then it will be left in the dust. Automation has already started. With Covid-19, I am sure manufacturers are accelerating this process.
Formerly Alecto.
Truce Bro.....
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