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I want to rebut and dissect this virtue signaling thread which has some good points, but is a poor attempt of copying bad aspects of "white liberalism".
Rejoinder 1: English is far more common in India than in 2% of population (25 million). Most reliable number is 125 million https://twitter.com/baboonzero/status/1264884582119170055">https://twitter.com/baboonzer...
Rejoinder 1: English is far more common in India than in 2% of population (25 million). Most reliable number is 125 million https://twitter.com/baboonzero/status/1264884582119170055">https://twitter.com/baboonzer...
Rejoinder 2: Even the 125 million is "educated" in English. Far more are conversant, and understand English as it is used in common business dealings, viz. tourism.
Yes, they are not all in white collar jobs as the number of those jobs in India is quite less.
Yes, they are not all in white collar jobs as the number of those jobs in India is quite less.
Rejoinder 3: The no. of graduates at 120 million seems a bit low. In 2011 census, this number was around 70 million. Also http://aishe.nic.in"> http://aishe.nic.in sets the number of graduates in 2016 alone as 20 million (assuming a 70% pass rate).
I& #39;d expect the number to be close to 200 million
I& #39;d expect the number to be close to 200 million
Rejoinder 4: The % of citizens with at least one college educated parent is also a bit low at 1%, esp. for 2020. As per 2001 census, the number of graduates was ~38 million. Assuming even 80-90% of them had at least 1 kid, the percent should be closer to ~5% by now, if not more.
Rejoinder 5: The no. of passengers in Indian civil aviation were ~100 million in 2016, so the number rn in 2020 before COVID would be closer to 10%, and not 5%.
The no. of people with credit cards is accurate at ~3%. But a lot more Indians have debit cards, ~840 million.
The no. of people with credit cards is accurate at ~3%. But a lot more Indians have debit cards, ~840 million.
Rejoinder 6: The no. of people with online purchases was ~70 million in 2017, stated to grow 3 fold by 2025 to ~220 million. I& #39;d peg the % to be closer to ~100 million, if not more already.
My most pet peeve on data in the thread is $10/day stat which is based on our tax base
My most pet peeve on data in the thread is $10/day stat which is based on our tax base
India& #39;s formal taxpayers are only at ~5-6%. Far more Indians do not pay taxes, and earn much more than INR 2.5 LPA.
A lot of Indians also own houses/living space instead of renting, suggesting that it is not lack of capital that is the issue.
A lot of Indians also own houses/living space instead of renting, suggesting that it is not lack of capital that is the issue.
Rejoinder 7: The english speaking middle class is privileged only to an extent but is squeezed by taxes, and normally one incident away from a life of penury.
This class should not be squeezed to subsidize the rest of country instead of the top 0.1%, viz. the babus/politicos
This class should not be squeezed to subsidize the rest of country instead of the top 0.1%, viz. the babus/politicos
If anything, the taxes on the english speaking middle class should be lowered, and they should be incentivized to make more products.
The author of the thread rightly says that the products are made for the top few %, but that is coz. that& #39;s where the margins are.
The author of the thread rightly says that the products are made for the top few %, but that is coz. that& #39;s where the margins are.
The middle class has no capacity/incentive to invest/partake in creating products for the rest of the 90% of the country without sustaining huge risk to their financial and mental health.
Only an Ambani/Adani with JIO like initiatives can create products for most of India.
Only an Ambani/Adani with JIO like initiatives can create products for most of India.
The middle class, on the contrary, should especially focus on creating products for the top 10% of the country, who have the disposable income to buy those products.
Products for rest of the 90% of the country are sold at v. low margins, and require vast capital/political reach.
Products for rest of the 90% of the country are sold at v. low margins, and require vast capital/political reach.
If anything, the economic output in terms of revenues and profits generated mostly by selling products to the top 10% of citizens will incentivize big business to invest in products for rest of the 90%, to increase the size of the pie of the economy.
Yes, there are certain areas where middle class can participate in helping the bottom 90%, which is health, financial literacy and education.
Investing/creating initiatives that help the bottom 90% with these bits are more likely to succeed and get funding
Investing/creating initiatives that help the bottom 90% with these bits are more likely to succeed and get funding
In any of these initiatives, the lack of capital, lack of political connections and minimal margins are going to be the biggest hindrance to middle class businesses, who are likely to be out-competed or bought out by big business in India through sheer economies of scale.
Last bit, do travel to the hinterlands to fulfill some sort of a "quixotic" mission but understand Indian politics, business and factors that could affect your business in the future.
Invest in backup plans, not "feel good" emotions. The country progresses when you progress. Fin
Invest in backup plans, not "feel good" emotions. The country progresses when you progress. Fin
