Sri Lankan Average wage vs India

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Sri Lankan Average wage vs India

Postby Paddles » Mon May 07, 2018 9:49 am

I've been reading various sources, but I have a question if true, why is the average Sri Lankan average wage so much higher (i've read close if not more to double) than that of India's and Pakistan's?
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Re: Sri Lankan Average wage vs India

Postby Katto » Mon May 07, 2018 11:48 am

have you ever tried negotiating with Sri Lankans?

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Re: Sri Lankan Average wage vs India

Postby squarecut » Mon May 07, 2018 1:44 pm

Their GDP per capita is higher. GDP per capita of Sri Lanka is $ 4000, whereas Indian GDP per capita is $2000, and Pakistan GDP per capita is $1400. That is the simple explanation.

But this state of affairs will change in future.

Sri Lanka is a small country with small population. Its GDP is just $ 80 billions or so. Credit rating agencies have given Sri Lanka rating that is well below investment grade rating. So Sri Lanka is unable to raise capital at low interest rate. That forces it to go to usurious money lenders viz China.

Recently Sri Lanka took loan from China to develop Hambantota. Now Sri Lanka finds itself trapped in a debt trap and it had to take IMF loan to service its debts that have soared. Sri Lankan public sector debt in 90 % of its GDP, which is alarming. Things will get worse for Sri Lanka in future.

India on the other hand is world's fifth largest economy at 2.6 trillions, and Indian economy is growing at 7% per annum, so I visualise Indian GDP per capita to catch up with Sri Lanka in a decade or so. Indian credit rating is investment grade so they are able to attract investment from foreign markets.

As for Pakistan, their GDP per capita is unlikely to come anywhere close to Sri Lanka in forseeable future. Pakistan too finds itself in debt trap similar to Sri Lanka, with Pakistan credit rating also well below investment grade.

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Re: Sri Lankan Average wage vs India

Postby Leo » Tue May 08, 2018 3:58 am

Percentages of Foreign remittance.
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Re: Sri Lankan Average wage vs India

Postby Going South » Wed May 09, 2018 4:14 pm

where do bangladesh stand among pakistan and lanka ?

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Re: Sri Lankan Average wage vs India

Postby Leo » Thu May 10, 2018 3:56 am

As per International Monetary Fund (2017) GDP per capita are as follows

Rank 91 Sri Lanka $13,001
Rank 122 India $7,174
Rank 135 Pakistan $5,354
Rank 140 Bangladesh $4,207

Source: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 10, 2018 11:25 am

Squarecut has given the correct explanation.

Sri Lanka is in a debt trap with Chinese for Hambantota port.

The small nations are powerless to resist the Chinese money power.

Only country that is resisting the Chinese Belt & Road Initiative is India and to some extent Japan, the second and third largest economies in Asia.

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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 10, 2018 11:28 am

China and India had a testy 73 day standoff last year on Doklam. Obama proposed a pivot to Asia which involved US, India, Japan and Australia the quad to counter China. That has been abandoned by Trump.

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Re: Sri Lankan Average wage vs India

Postby Paddles » Sat May 12, 2018 3:19 am

Leo wrote:As per International Monetary Fund (2017) GDP per capita are as follows

Rank 91 Sri Lanka $13,001
Rank 122 India $7,174
Rank 135 Pakistan $5,354
Rank 140 Bangladesh $4,207

Source: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita


But why is double per capita?
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Re: Sri Lankan Average wage vs India

Postby Paddles » Sat May 12, 2018 3:21 am

squarecut wrote:Their GDP per capita is higher. GDP per capita of Sri Lanka is $ 4000, whereas Indian GDP per capita is $2000, and Pakistan GDP per capita is $1400. That is the simple explanation.



Buy is the Sri Lankan GDP per captia so much higher?

Is it mining? Natural resources? Better soils for farming? Skilled labour force? Better and more established infrastrucutre for industry? Why?

You have to understand my curiosity given how close these nations are physically, and the fact SL was in a civil war not that long ago.
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Re: Sri Lankan Average wage vs India

Postby Leo » Sat May 12, 2018 5:15 am

Paddles wrote:
Leo wrote:As per International Monetary Fund (2017) GDP per capita are as follows

Rank 91 Sri Lanka $13,001
Rank 122 India $7,174
Rank 135 Pakistan $5,354
Rank 140 Bangladesh $4,207

Source: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita


But why is double per capita?


https://en.wikipedia.org/wiki/Economy_of_Sri_Lanka
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Re: Sri Lankan Average wage vs India

Postby Paddles » Sat May 12, 2018 6:56 am

Leo wrote:
Paddles wrote:
But why is double per capita?


https://en.wikipedia.org/wiki/Economy_of_Sri_Lanka


I'm going to assume that because you are a good and regular poster on the site, that your reply url was ununtentionally obtuse. So let me clarify, I want the comparative reason why the Sri Lankan gdp per capita is so much stronger than that of India (and Pakistan).

Let me give you an example. NZ and Australia are geographically close to each other. Australia has a stronger GDP per capita to NZ. Most economists and residents in the know will tell you that the key difference between the two countries economies is Australia's natural resources and mining.

Before the mining boom in Australia decades ago, NZ had a higher on GDP per capita and standard of living than Aus. NZ is reluctant to mine what natural resources it does have, and Australia does not and they have plenty to mine. Therefore, the effect of this flows on to Australia being a much stronger gdp per capita economy despite NZ's more advanced farming tech (NZ and Denmark are the dairy farmers leading the way in farming).

So what does Sri Lanka have or what are they doing, that India and Pakistan do not at present? Because I know there are plenty of Indians educated in math, science and tech. I also know that India is not doing large scale tech assembly like China and Bangladesh are. Therefore, Indians are more likely to be designing the things than constructing them.

What I don't know, is why India is earning half that of Sri Lanka per capita. What are the key differences between these economies.
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Re: Sri Lankan Average wage vs India

Postby Leo » Sun May 13, 2018 3:41 am

Well, I am not an economist. What I can say from my personal observation after visiting India & Sri Lanka. I never visited Pakistan.

1. Whoever the leader has come into the power in Sri Lanka, always took some long term planning with Education, Poverty reduction or Infrastructure development.
2. As the literacy rate is the highest in Sri Lanka among all South Asian countries (92.6%), the impact in economy is obvious.
3. I personally have found a culture in Sri Lanka that they are very helpful and friendly with foreigners. Whenever they heard I am from Bangladesh their behavior was very generous. This culture has been grown as they are aware of their one of the major income source, tourism. This realization has come because an educated person always realize what is good for country or not.

Now, in case of India, I think it is a gigantic country with huge population. That's why the rate of their growth is very low. Pakistan & Bangladesh are not yet politically stable and lack of good leader which has impact on their growth.

This is very short understanding of mine. The other aspects like geographic location, population density, international politics, policy from the central bank, cultural awareness etc. can be said by that particular country people. I request Indian or Pakistani members to contribute.
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Re: Sri Lankan Average wage vs India

Postby Paddles » Mon May 14, 2018 12:23 am

Leo wrote:Well, I am not an economist. What I can say from my personal observation after visiting India & Sri Lanka. I never visited Pakistan.

1. Whoever the leader has come into the power in Sri Lanka, always took some long term planning with Education, Poverty reduction or Infrastructure development.
2. As the literacy rate is the highest in Sri Lanka among all South Asian countries (92.6%), the impact in economy is obvious.
3. I personally have found a culture in Sri Lanka that they are very helpful and friendly with foreigners. Whenever they heard I am from Bangladesh their behavior was very generous. This culture has been grown as they are aware of their one of the major income source, tourism. This realization has come because an educated person always realize what is good for country or not.

Now, in case of India, I think it is a gigantic country with huge population. That's why the rate of their growth is very low. Pakistan & Bangladesh are not yet politically stable and lack of good leader which has impact on their growth.

This is very short understanding of mine. The other aspects like geographic location, population density, international politics, policy from the central bank, cultural awareness etc. can be said by that particular country people. I request Indian or Pakistani members to contribute.


Thank you for your reply post.

I am not an economist neither, but I was taught a Macro Economics paper at University by Sanath Jayasuriya's (the Sri Lankan cricketer) uncle.

Unstable governments I understand. I just found it peculiar that Sri Lanka had got so far ahead, when civil war ended less than 10 years ago and when tea is still one of their leading exports while precious stone mining hasn't done much for African economies.
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Re: Sri Lankan Average wage vs India

Postby Leo » Mon May 14, 2018 3:52 am

^^ In this regards Pakistan & Bangladesh is worthless to discuss.

India has got some internal problems those are as follows. I might be wrong but I request Indian mates to make me correct

1. Cast problem: Still some of the states or area in India are facing cast problem. When the population is not united enough, economic growth will be hampered.

2. Religious problem: Though India is constitutionally secular country, Indian people are not that secular by psychology yet. Government stays busy many times to control that problem. Definitely it hampers the economic growth.

3. Difference in culture: India is the country where the culture (Language, Religion, Behavior, Dress, Food Habit, Family Structure etc.) is totally different state to state. That's why they are called subcontinent. Russia, Canada or China are bigger than India but those countries are not called subcontinent due to the similarity of culture all over the country. This difference create a tougher situation for Indian central government to sustain with the proper economic development.

Sri Lanka compare to above, much easier to develop. Sri Lanka has taken the opportunity and they are getting the result.
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Re: Sri Lankan Average wage vs India

Postby bolero » Mon May 14, 2018 8:23 am

Sri Lanka does very well in Tourism.

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Re: Sri Lankan Average wage vs India

Postby bolero » Mon May 14, 2018 8:25 am

Sri Lankan tourism sector on the cusp of accelerated growth phase in 2018/19

• Consistent policy framework vital to capitalize on rising international profile
• Commends Budget 2018 initiatives to boost growth, develop domestic airports and aero sports
• Recommends continued digitization of services to capture growing millennial market

Global real estate consultancy Jones Lang La Salle (JLL) anticipates a strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.

Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25% of the total global population, including the world’s largest population of millennials, JLL cautioned that the opportunity cost to Sri Lanka could be high, if it fails to follow through on key initiatives and does not sideline marginal policies that limit potential for a positive contribution to the industry’s performance.
“There is no ‘magic wand’, all policies need further refinement, transparency and efficient implementation if all stakeholders are to benefit from improved confidence amongst local or joint venture entrepreneurs and the tourist community, especially in this era of digital social media where news, good or bad, can go ‘global’ in the blink of an eye,” the report stated.

Smart moves to capture the big dragon

In addition to a transparent regulatory framework, to assist the tourism sector, JLL stated that it would be critical to have a strong soft infrastructure in place in order to provide Chinese tourists with a streamlined experience. It refers to services like Fliggy - an online travel platform, which acts as an online mall for brands, and is part of China’s Alibaba digital ecosystem – which recently established its Sri Lanka Pavilion with the aim of attracting a million tourists to the island each year.

According to the statistics, provided by China National Tourism Administration, over 62.00 million outbound trips were made by the Chinese in Q1 of 2017, therefore it quickly becomes apparent how important this market may become to the tourism sector in Sri Lanka. The total consumption by Chinese travelers overseas reached $109.8 billion, at an average spend of around $900 per person in the year 2016.

One of the key reasons for this outbound growth, amongst Chinese tourists, is convenient access to reciprocal visa policies with 65 countries around the globe. In addition, 90% of Chinese citizens do not have passports for foreign travel, outlining the tremendous growth potential from this market.
Alibaba has also launched an “Online visa center” for Sri Lanka, which is a prudent move to attract millennials and other Chinese tourists to apply for visas via their smartphones at their convenience.
“The tourism sector is critical to the future prosperity and global standing of Sri Lanka, and prudent leveraging of geographical advantages, FTA’s, Sri Lanka’s natural heritage, cultural highlights and current standing as a tourism ‘hotspot’ are required to contribute significantly to GDP and wealth distribution, amongst the population, spurring infrastructure improvements to the benefit of all.

“It is beholden on elected government ministers and public bodies to engineer a legislative framework that provides clarity and consistency in developing this key element of the nation’s future, safeguarding existing relationships and promoting Sri Lanka to open new markets,” JLL explained.
JLL also commended moves to refine Sri Lanka’s attractiveness as a destination through such initiatives as the continuing development of domestic airports at Sigiriya, Batticaloa, China Bay and Koggala, which would likely encourage both local and foreign tourism with increased revenues. This in turn would pave the way for further investment in infrastructure.

Similarly, JLL noted that the Government’s “Open Skies for Aero Sports” initiative – spanning activities such as Hang Gliding, Ballooning, Dirigibles, Parachutes and Paragliders together with the removal of NBT and PAL levies on non-powered aero sport equipment holds strong potential as an attraction for young adults, particularly millennials from China, India and other growth geographies. The report further noted that such initiatives would also support growth of direct and indirect job opportunities in associated businesses.

http://www.dailymirror.lk/article/Sri-L ... 49604.html

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Re: Sri Lankan Average wage vs India

Postby bolero » Mon May 14, 2018 8:38 am

A simple reason why India's per capita wage is low is high population growth.

Successive governments have failed to enforce the 2 child norm. Also any enforcement in laws with respect to religions enters dangerous territory.

Indian muslims have their own personal laws and are opposed to the Federal Govt trying to bring in a uniform civil code. As per Sharia, triple talaq (divorce can be obtained by uttering talaq thrice) and Muslims can marry upto 4 times. Also there is the practice of Nikaq Halala.

So population control is a touchy topic.

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Re: Sri Lankan Average wage vs India

Postby bolero » Mon May 14, 2018 8:50 am

Fresh plea in SC against polygamy, nikah halala

NEW DELHI: A woman, who along with her three minor kids were thrown out of the matrimonial home after her husband re-married, has moved the Supreme Court seeking to declare the practices of polygamy and 'nikah halala' among Muslims as unconstitutional.

While polygamy allows a Muslim man to have four wives, 'nikah halala' deals with the process in which a Muslim woman, who wants to re-marry her husband after divorce, has to first marry another person and get a divorce from him after the consummation.

The fresh plea assumes significance as the apex court, on March 26, has already referred to a five-judge constitution bench a batch of petitions challenging the constitutional validity of polygamy and 'nikah halala' among the Muslims.

Rani alias Sabnam, in her petition filed through lawyer and BJP leader Ashwini Kumar Upadhyay, referred to the sequence of events in her life and said she had married one Muzammil on February 8, 2010 as per the Shariayat rites and was blessed with two sons and a daughter.

She said her parents spent about Rs five lakh, including gold and silver ornaments as dowry, in her marriage. However, she was later harassed and forced out of the matrimonial home here after her husband re-married.

The woman, who is currently living with her children at the home of in-laws in Bulandshahr town of Uttar Pradesh after neighbours came forward in their support, has moved the top court for declaring these practices as unconstitutional.

"The instant petition raises an important issue of General Public Interest i.e. prevalent practice of Polygamy including Nikah-Halala which is unconstitutional and even then the same is prevailing in our country. The said practices which certainly comes within the domain of personal law cannot be immune from judicial review under the constitution," it said.

https://economictimes.indiatimes.com/ne ... 975804.cms

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Re: Sri Lankan Average wage vs India

Postby Paddles » Thu May 17, 2018 4:47 am

bolero wrote:A simple reason why India's per capita wage is low is high population growth.

Successive governments have failed to enforce the 2 child norm. Also any enforcement in laws with respect to religions enters dangerous territory.

Indian muslims have their own personal laws and are opposed to the Federal Govt trying to bring in a uniform civil code. As per Sharia, triple talaq (divorce can be obtained by uttering talaq thrice) and Muslims can marry upto 4 times. Also there is the practice of Nikaq Halala.

So population control is a touchy topic.


I think population control could well be a bigger issue for India in the future than it is now, when food production is pushed to the limit.
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Re: Sri Lankan Average wage vs India

Postby Paddles » Thu May 17, 2018 4:50 am

Leo wrote:^^ In this regards Pakistan & Bangladesh is worthless to discuss.

India has got some internal problems those are as follows. I might be wrong but I request Indian mates to make me correct

1. Cast problem: Still some of the states or area in India are facing cast problem. When the population is not united enough, economic growth will be hampered.

2. Religious problem: Though India is constitutionally secular country, Indian people are not that secular by psychology yet. Government stays busy many times to control that problem. Definitely it hampers the economic growth.

3. Difference in culture: India is the country where the culture (Language, Religion, Behavior, Dress, Food Habit, Family Structure etc.) is totally different state to state. That's why they are called subcontinent. Russia, Canada or China are bigger than India but those countries are not called subcontinent due to the similarity of culture all over the country. This difference create a tougher situation for Indian central government to sustain with the proper economic development.

Sri Lanka compare to above, much easier to develop. Sri Lanka has taken the opportunity and they are getting the result.



Hate to tell you this, but in the west, sub-continent is used as a prefix that includes more than India.

https://en.oxforddictionaries.com/defin ... bcontinent

A large distinguishable part of a continent, such as North America or the part of Asia containing India, Pakistan, and Bangladesh.


Even Sri Lanka is typically defined in the group.

In fact, my whole premise in this thread was to get clarity why Sri Lanka is the best performing economy per capita in the sub-continent.
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Re: Sri Lankan Average wage vs India

Postby Paddles » Thu May 17, 2018 4:51 am

bolero wrote:Sri Lankan tourism sector on the cusp of accelerated growth phase in 2018/19

• Consistent policy framework vital to capitalize on rising international profile
• Commends Budget 2018 initiatives to boost growth, develop domestic airports and aero sports
• Recommends continued digitization of services to capture growing millennial market

Global real estate consultancy Jones Lang La Salle (JLL) anticipates a strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.

Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25% of the total global population, including the world’s largest population of millennials, JLL cautioned that the opportunity cost to Sri Lanka could be high, if it fails to follow through on key initiatives and does not sideline marginal policies that limit potential for a positive contribution to the industry’s performance.
“There is no ‘magic wand’, all policies need further refinement, transparency and efficient implementation if all stakeholders are to benefit from improved confidence amongst local or joint venture entrepreneurs and the tourist community, especially in this era of digital social media where news, good or bad, can go ‘global’ in the blink of an eye,” the report stated.

Smart moves to capture the big dragon

In addition to a transparent regulatory framework, to assist the tourism sector, JLL stated that it would be critical to have a strong soft infrastructure in place in order to provide Chinese tourists with a streamlined experience. It refers to services like Fliggy - an online travel platform, which acts as an online mall for brands, and is part of China’s Alibaba digital ecosystem – which recently established its Sri Lanka Pavilion with the aim of attracting a million tourists to the island each year.

According to the statistics, provided by China National Tourism Administration, over 62.00 million outbound trips were made by the Chinese in Q1 of 2017, therefore it quickly becomes apparent how important this market may become to the tourism sector in Sri Lanka. The total consumption by Chinese travelers overseas reached $109.8 billion, at an average spend of around $900 per person in the year 2016.

One of the key reasons for this outbound growth, amongst Chinese tourists, is convenient access to reciprocal visa policies with 65 countries around the globe. In addition, 90% of Chinese citizens do not have passports for foreign travel, outlining the tremendous growth potential from this market.
Alibaba has also launched an “Online visa center” for Sri Lanka, which is a prudent move to attract millennials and other Chinese tourists to apply for visas via their smartphones at their convenience.
“The tourism sector is critical to the future prosperity and global standing of Sri Lanka, and prudent leveraging of geographical advantages, FTA’s, Sri Lanka’s natural heritage, cultural highlights and current standing as a tourism ‘hotspot’ are required to contribute significantly to GDP and wealth distribution, amongst the population, spurring infrastructure improvements to the benefit of all.

“It is beholden on elected government ministers and public bodies to engineer a legislative framework that provides clarity and consistency in developing this key element of the nation’s future, safeguarding existing relationships and promoting Sri Lanka to open new markets,” JLL explained.
JLL also commended moves to refine Sri Lanka’s attractiveness as a destination through such initiatives as the continuing development of domestic airports at Sigiriya, Batticaloa, China Bay and Koggala, which would likely encourage both local and foreign tourism with increased revenues. This in turn would pave the way for further investment in infrastructure.

Similarly, JLL noted that the Government’s “Open Skies for Aero Sports” initiative – spanning activities such as Hang Gliding, Ballooning, Dirigibles, Parachutes and Paragliders together with the removal of NBT and PAL levies on non-powered aero sport equipment holds strong potential as an attraction for young adults, particularly millennials from China, India and other growth geographies. The report further noted that such initiatives would also support growth of direct and indirect job opportunities in associated businesses.

http://www.dailymirror.lk/article/Sri-L ... 49604.html


But India is becoming a more popular tourist destination is it not?

But thanks, I was not aware that Sri Lanka was doing so much better relatively in tourism than India.
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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 17, 2018 6:44 am

Yes, Paddles Sri Lanka is a popular tourist destination, I dont have its tourism figures visavis India.

Sri Lankan beaches are considered cleaner and it is a good place to relax..

India is popular among those tourists who wish to visit the Northern Circuit - Agra Taj mahal / Fatehpur Sikri / Jaipur etc, Kerala Circuit, Goa (Israelis and Russians) and then come other parts of India.

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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 17, 2018 6:46 am

A lot of Indian tourists visit Sri Lanka thanks to proximity and also its beaches. Thats what was mentioned in the above Lankan paper article.

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Re: Sri Lankan Average wage vs India

Postby Leo » Thu May 17, 2018 6:47 am

Paddles wrote:
Hate to tell you this, but in the west, sub-continent is used as a prefix that includes more than India.

https://en.oxforddictionaries.com/defin ... bcontinent


This is because once these 4 were under British government. The word sub continent had come from that time and become the part of dictionary. In present situation Sri Lanka, Pakistan & Bangladesh are not the part of India but within the India the difference of Cast, Religion & Culture still exist.
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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 17, 2018 6:48 am

India still Sri Lanka's top source of tourists in 2017

India continued to be Sri Lanka's top source of tourists in 2017 with a near eight per cent growth in arrivals, the government said today.

"India continued to be the top source market with 384,628 arrivals (up 7.8 per cent) followed by China with 268,952 (down 1 per cent) and UK 201,879 (up 7.3 per cent)," a release by the Tourism Development Authority said.

In 2017, tourist arrivals in Sri Lanka reached an all- time high of 2,116,407.

This represents a 3.2 per cent growth or 65,595 more arrivals over the preceding year when the figure crossed the two million mark for the first time.

The higher number of arrivals has been achieved despite serious setbacks to the tourism industry right throughout 2017.

The first setback was the partial closure of the country's main airport from January to April as many airlines either scaled down operations or completely halted flights to Colombo.

The island was also hit by devastating floods that cut off access to many resort areas resulting in adverse international media publicity that had an impact on forward bookings.

Further flooding and a severe drought in the central and northern parts of the country in the latter part of the year added to the climatic woes suffered by the tourism industry during the year.

The arrivals in December grew over 8 per cent year-on- year from 224,791 in 2016 to 244,536 in 2017.

Read more at:
//economictimes.indiatimes.com/articleshow/62383012.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Re: Sri Lankan Average wage vs India

Postby bolero » Thu May 17, 2018 6:55 am

Foreign tourist arrivals hit new high of one crore, earnings cross $27-billion mark

NEW DELHI: In happy tidings for India's tourism sector, the year 2017 ended on a high with the number of foreign tourist arrivals (FTAs) crossing the 10-million mark, which pushed the country's earnings to over 27 billion dollars.
The sector is looking to ramp up tourist arrivals this year+ with new and niche projects. "I think our sector is doing very well. But am I happy with the numbers? I want these numbers to increase dramatically because India is an incredible place and we have everything for everybody. So we are trying to bring in lot more people," Union tourism minister KJ Alphons said in Kochi on Tuesday.

The minister also said the sector is contributing 6.88 per cent to India's GDP and had a 12 per cent share of jobs in the total employment figures in 2017.
The increase in numbers has helped India ramp up its overall ranking on the Tourism Competitiveness Index, 2017. It jumped 25 places from 65 in 2013 to 40 in 2017. Ministry sources attributed the improvement to the government's renewed focus on developing infrastructure besides promoting theme-based and religious circuits under the Swadesh Darshan scheme. "Eleven projects have been sanctioned under this scheme in 2017-18 alone, taking the total number up to 67 projects. The plan is for holistic development of pilgrimage destinations, the Buddhist circuit being a case in point," a ministry official said.

Sources in the ministry also said the government is 'Looking East' in the tourism sector to promote India's north-eastern states. As part of the efforts to introduce new concepts to engage the larger world, India's golf courses have found mention in the ministry's 'Incredible India' campaign alongside the heritage monuments.

Officials said while they plan to invite foreign tourists to tee off from India's manicured golf courses, the effort is also to push niche products — women's Polo — by popularising for tourists visiting India. "The women's polo team from Manipur has won critical acclaim for its performance. After the United States Polo Association (USPA) team played against the state's women's polo team, the sport has got an additional boost. The plan is for the ministry to rope in the Manipur players to popularise the sport from a tourism point of view," an official said.

https://timesofindia.indiatimes.com/ind ... 531855.cms

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Re: Sri Lankan Average wage vs India

Postby squarecut » Sat May 19, 2018 3:35 am

The GDP per capita figure that Leo has mentioned in on PPP basis. My figures are on nominal basis.

I am no economist either, but I am these days more interested in learning about economy than I am interested in cricket. In fact, these days I try to go to the economy part of any activity that I come across. For instance, in cricket, I try to find out the contribution of cricket in economy. When I want to know about a country, the first thing that I want to know is about their economy and what one can learn from them. I recently visited Singapore and as is my wont, I tried to find about the reasons why they do so well economically. While at it, I also tried to analyse the economy of Singapore's neighbours viz Malaysia and indonesia. All these coutries are ASEAN countries, also known as Asian tigers and they are doing much better than Indian sub continent becuse they actually thing economy most of the time.

People in the Indian subcontinent on the other hand hardly think about economy. A sizeable population of people in Indian subcontinent contribute negatively by indulging in disruptive, time wasting emotive issues that do not add to economical progress rather hampers it.

India is a big country. Economies of countries like Bangladesh, Nepal, Sri Lanka etc can be compared to that of one Indian state or even one city.

Sri Lanka does well because it is a small country with small population. Though its per capita GDP is comparable to Indonesia, Sri Lanka is nowhere close to Indonesia is prosperity. As mentioned by me earlier, Sri Lankans are in big trouble as they have landed into debt trap. I think all these days Sri Lankans were plucking low hanging fruits (so to say). Now that low hanging fruits are no longer available, they will need to invest in infrastructure. Thanks to their low credit rating they are unable to raise loans at low interest rate. Borrowing from China is a costly proposition as they themselves have realised. I do not have any great hopes for Sri Lankan economy in future. I feel that their President Rajpakshe has landed Sri Lanka in big mess because it was he who decided to follow China centric policies.

Bangladesh has problems similar to India. I feel that their politicians and public think even less about economy and more about emotive issues all the time. People who really want to improve Bangladesh economy are quite low in number. Despite all that, Bangladesh is growing and I hope that they will be able to check their fringe elements who impede growth.

Indian problems are similar to Bangladesh but on a bigger scale. But since India is a big country, somehow problems in one part of the country gets countebalanced because of the strategic depth that the country offers. For example, even if some big states in India are doing poorly, there are smaller states that do far better. If one cannot find employment in one state, he is free to go anywhere else in the country that offers employment.

On paper, Indian GDP per capita looks similar to or worse than countries like Sudan and Djibouti, but one should not get misled by this figure. India have infrastructure and industries that are comparable to industrial nations. In additions India have resources that have not yet been properly harnessed. Like in most economies, In Indian economy too 80 % wealth is in the hands of 20 % population and 20 % wealth is at the hands of 80 % population. By that yardstick, 20 % population of India have per capita GDP of $ 8000, whereas remaining 80 % population have per capita GDP of $500. The 20 % population of India works out to 270 million individuals, which is bigger than the population of fifth most populous country in the world (Indonesia). So one can say that a sizeable population of India is already in the category of people who are middle class (by American standard, not by Indian standards). According to Forbes, India have the third largest number of billionaires (China is first and USA is second). The richest Indian Billionaire (the owner of Mumbai Indian cricket team) in fact has more personal wealth than the national budgets of any other sub continent countries.

As mentioned earlier, I am quite fascinated by matters related to economy. So I will post some more in this thread later.

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Re: Sri Lankan Average wage vs India

Postby Katto » Sat May 19, 2018 10:13 am

Troll factor of this thread is off the charts. Dunno if Paddles meant it but :lol: :lol: :lol:

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Re: Sri Lankan Average wage vs India

Postby squarecut » Sat May 19, 2018 2:39 pm

What do you mean by troll factor ? The figure quoted are all official figures from authentic sources viz IMF, WEF etc. Quoting economy figures from these sources is like quoting cricket statistics from espnstarsports statsguru.

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Re: Sri Lankan Average wage vs India

Postby bolero » Sun May 20, 2018 4:22 pm

Shaping up to be a nice discussion.

Again, I repeat, India's problem is overpopulation.

You cant have 1.40 billion in a country of India's size, in a country of America or China's size yes. Plus India has about 20 million illegal Bangladeshi immigrants which every government has ignored. It is a ticking time bomb as India does not have the resources to feed its own people forget illegal immigrants of this scale.

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Re: Sri Lankan Average wage vs India

Postby squarecut » Mon May 21, 2018 2:38 am

bolero wrote:Shaping up to be a nice discussion.



Indeed. I am extremely interested in Indian economy and I have several interesting facts about it. Soon I will open a separate thread discussing Indian economy.

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Re: Sri Lankan Average wage vs India

Postby raja » Mon May 21, 2018 8:04 pm

I'll just say a couple of things:
1) Am too lazy to look up numbers / sources but I think SL is one of the top tourist destinations in the world.
Especially for its beaches. And the pleasant Nuwara Eliya region.
Sri Lankans are generally very polite (much more polite than Indians! :-)) - speaking from personal experience.
(Don't go by what you see on cricket forums - you will find a whole lot of SL trolls on them, bashing BCCI all the time. :-))
For the rest, I agree that the small population helps to make its GDP figure look much better than India's.
O/wise, I don't think it is a particularly rich country.
And the civil war did hurt the country very badly. When I visited in end-2016, I spoke to some Sri Lankans about this.
They said the country was still recovering from the after-effects of the war - and it would take a very long time.
An entire generation, maybe two, of Sri Lankans is lost - they were part of the 25-year war, and those who survived have nothing now in peacetime. I came across many families who had lost members to the war. It was only then I realised what a heavy toll the war had taken on SL.
Oh, another thing about SL.
Yes, they are fairly literate - but they generally don't study to very high levels, like professional education or post-grads. Unlike Indians.
In general, I found the Sri Lankans content and fun-loving people. I realise this is a generalisation.

2) Squarecut has discussed a fair bit about India's economy. Am sure he will add more. I will only say the GDP figure doesn't necessarily reflect India's situation because, unlike western economies, a lot of domestic product in India isn't even captured in statistics (although this might change to some extent with the introduction of GST from July last year). Having said that, since we're comparing with SL, am not sure how it is with SL. Whether they too have a large unaccounted economy.

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Re: Sri Lankan Average wage vs India

Postby Paddles » Thu May 24, 2018 11:37 pm

One eye-popping statistic we heard about is India's need to find an estimated one million jobs a month as young people reach working age. The idea is this will be achieved through manufacturing, a space that China has dominated for the past few decades (while India's services industries grew). Our New Zealand delegation asked our Indian counterparts about the possible impacts of technology and automation on manufacturing jobs, but got no clear answers.
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Yeah, I am surprised the way India has not yet turned to manufacturing despite Bangladesh getting into it. It does seem an obvious fit for India to compete with the huge Chinese manufacturing sector.
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Re: Sri Lankan Average wage vs India

Postby squarecut » Fri May 25, 2018 5:22 am

India are into manufacturing, but on a smaller scale than what is required considering the population. States which have the most population hardly have any manufacturing sector to speak of. This state of affairs is difficult to change overnight and it will take considerable political will on the part of the political parties (read opposition parties who are anti development). Hopefully the anti development parties will get marginalised in the next five years, to be replaced by pro development local governments. That is the only hope for manufacturing sectors to take off in places where they are non existent.

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Re: Sri Lankan Average wage vs India

Postby raja » Wed Jun 06, 2018 12:51 pm

Manufacturing is a very different ballgame for India compared to services.

I think India might have missed the manufacturing bus altogether.
The time to do it was in the 1990s, or at least in the early 2000s.
In the 1990s the Indian economy opened up dramatically - the services sector benefited hugely from this. But manufacturing remained largely stagnant.
This was also the time that globalisation began picking up, offering huge opportunities for world trade.'
Again Indian services benefited, manufacturing missed out.
That was also the time China really rode the wave and rapidly grew its manufacturing capabilities.
I've myself seen the transformation in Shenzhen, just into Mainland China from Hong Kong.

We need to see Indian manufacturing from the context of domestic and export.
India's domestic market for practically any product is huge. Given the population, rise in income levels, demographic (largely young aspirational folks), a local manufacturer should do well, despite constraints of regulations. This applies both for consumer-facing products (FMCG etc) and for industrial products. The government is also a big spender, so the domestic market is huge.
It is in the export market for manufactured goods (as opposed to services) that India has traditionally struggled. Especially in competitive markets. Leave aside textiles, gems & jewellery (major contributors to exports) and a country the size of India, which should be a global megalith, has precious little to show. Yes, there's the odd success story like Bajaj or Maruti Suzuki, but they are few and far between.
Of course you have the multinationals - and they do make a difference. Hyundai, for example, produces cars near Chennai, for both the Indian and the export market.

Key for Indian manufacturing is labour reforms. This is dynamite in India - very tough to bring about reforms in a socialist country like India. Govt treads very cautiously on this front. China is far more ruthless in this matter.

Also, scale. China has mastered scale. Its factories are huge, they churn out millions of units through a mix of automation and manual processes, with total focus on productivity and cost. Once quality used to be an issue, becoming less of one now. Look at how China has taken over so much of the mobile phone market! At least in India, though there are a few Indian mobile phone manufacturers, Chinese phones have swept the market in the last couple of years.

One area the Indian govt has tried to push for Indian manufacturing is in defence. India is the world's largest importer of defence equipment - if it could even produce a fraction of this inhouse, it would save a massive amount of money. The process is on - some reputed Indian companies are partnering with the govt on this. Not sure how much employment this will provide - increasingly, with automation, AI et al, big manufacturing numbers don't translate to many jobs.

It's a lot to do with investment climate too. Which has to do with confidence in the future. With manufacturing, unlike services, entry costs are very high, the gestation period is long - and the time horizon is long-term. Any chance of instability, or change in govt policy and anyone planning to invest in a manufacturing unit will shudder. We saw that with BMW (or was it Mercedes?) a couple of years ago when the emission norms policy was revised for automobiles.

The govt keeps trying to encourage manufacturing, it sees the employment potential, it offers tax sops but a lot more needs to happen. Especially if you're aiming to be a global manufacturing superpower, even in a niche field. (I think the industries need to be narrowed down for this, for focus).

Mind you, I haven't even got into discussing trade agreements / barriers. The world is getting increasingly protectionist - so exports are going to only get even more difficult.

Just some random thoughts. Must admit, not well thought through.

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Re: Sri Lankan Average wage vs India

Postby raja » Wed Jun 06, 2018 12:53 pm

Continuing on the above, what India can hope for is that China has a massive trade war with the US, EU etc.
And the balance tilts towards India. :-)

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Re: Sri Lankan Average wage vs India

Postby squarecut » Wed Jun 06, 2018 4:49 pm

Labour reform is badly needed, but I do not think that is going to happen anytime soon. So one can only hope that most manufacturing would be done by private sector who somehow manage to deal with their labour better despite archaic labour laws.

Moreover, Indian female workers are badly under represented in the work force. A huge part of Indian work force in the form of female labour is going underutilised at present.

Moreover, a big population of India (60%) is engaged in agriculture where they contribute just 15 % of the GDP. So far too many people are engaged in agriculture and they produce far too less. Most of them need to be brought into manufacturing and service sectors.

When it is reported that Indian economy is growing at 7 % per annum, it basically means that some private sector people are taking the economy forward and a large number of population indulging in unproductive. counterproductive activities are taking the economy backwards. If a good portion of these unproductive/ counterproductive people can be gainfully employed then the economy can even grow at 15 % per annum.

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Re: Sri Lankan Average wage vs India

Postby bolero » Thu Jun 07, 2018 5:02 am

I agree with all of Raja's points.

India has missed the manufacturing bus, Congress fully responsible for the debacle of nationalization.

No govt in India has had the guts to undertake labour reforms, not even Modi.

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Re: Sri Lankan Average wage vs India

Postby bolero » Thu Jun 07, 2018 5:10 am

China's economy is an export driven economy. If trade barriers are erected, China is in trouble.

There is very little internal consumption unlike India and a lot of money has been sunk into infrastructure projects.

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Re: Sri Lankan Average wage vs India

Postby raja » Fri Jun 08, 2018 9:33 pm

On Bangladesh's social indicators.
Looks like the country has progressed significantly in the last 10 years.

https://twitter.com/suvojitc/status/1004785442883919872

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Re: Sri Lankan Average wage vs India

Postby squarecut » Sat Jun 09, 2018 5:15 am

Though statistics are to be taken with a pinch of salt, I am happy to see that Bangladesh has progressed over the years and they have decided to follow Indonesia and Malaysia model rather than Pakistan model when it comes to dealing with their issues. But Bangladesh is still not out of the woods. The Bangladeshi political scene is quite volatile and the opposition party of Khaleda Zia, if she ever comes back to power, will not lose any time in adopting Pakistan model of governance as she had adopted during her past tenures.

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Re: Sri Lankan Average wage vs India

Postby squarecut » Sat Jun 09, 2018 7:49 am

Social indicators are quantitative indicators. They do not tell about the quality. Unless we know about the quality, we cannot draw any meaningful conclusion about how a country is performing and is going to perform in future.

Some of the Qualitative indices to look at are

1.Global Innovation index
2.Global competitive index
3.Ease of doing business
4.QS rating of top universities
5.Credit rating

Let us look at these indices in case of India, Sri Lanka and Bangladesh.

1.Global innovation index 2017
--------------------------------
India 60th, Sri Lanka90th, Bangladesh 114th

2.Global competitive index 2017
--------------------------
India 39th, Sri Lanka 71th, Bangladesh 106th

3.Ease of doing business 2017
------------------------------
India 100th, Sri Lanka 111th, Bangladesh 177th

4.QS rating of top universities
-------------------------------------
IIT Bombay 162th, University of Dhaka ranked between 801-1000, University of Colombo ranked between 801-1000

(note: universities ranked beyond 800 are not given individual ranking)

5.Credit rating (Moody's)
------------------------------
India Baa2 , Sri Lanka B1, Bangladesh Ba3

Note( Baa2 is investment grade, B1 and Ba3 are speculative grade, viz junk grade)

There you are. These ratings tell you where these three economies are headed to.

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Re: Sri Lankan Average wage vs India

Postby Going South » Sat Jun 09, 2018 12:21 pm

thanks sq. that was informative and i agree with you.

IMO india should not even be compared with these small baby nations. apples & watermelons.

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Re: Sri Lankan Average wage vs India

Postby raja » Sat Jun 09, 2018 5:20 pm

The point is, compared to where it was 10 years ago, Bangladesh seems to be making progress.
And I'm very happy about that.

Ok, so it might not have a university in the top 800 in the world - so what?
Are Bangladeshi literacy levels rising? If so, great!

For that matter even Indian universities' rankings haven't been great of late. I think Indian Institute of Science ranks top from India - and that came in at exactly no. 100 in a global list recently. The IITs were lower.

For me, social indicators matter, cos they reflect the END-RESULT of any development in society.

Things like credit rating, ease of doing business etc are important, and definitely need to be improved if we want more investment and economic activity. I'm not trying to undermine them. After all, wealth gets created with economic activity - this wealth can then be channelled into social sector activity, like education and healthcare.

But it's possible you have all this, your GDP grows at a healthy rate - and you STILL don't see this reflected in social indicators across the board. Shouldn't happen - but CAN happen.

But if social indicators are working, you know you are on the right track. These feed back to the economy. Better education, healthcare, sanitation means a more skilled, healthier society - which can produce more wealth.

Which is why, when you measure with social indicators, you know whether things are working or not.

And no, this is not a capitalism/socialism debate. :-)

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Re: Sri Lankan Average wage vs India

Postby raja » Sat Jun 09, 2018 5:29 pm

I take rankings with a pinch of salt.
At best they are suggestive, but I wouldn't read too much into them.

What finally matters is the individual.

Does she care about her country's ranking in various lists?
Or does she care about her own life - whether she has access to quality education, healthcare, housing, sanitation, transportation, environment etc?

Which does she care for more?

I think almost everyone will say, the latter.

Cos if everyone has all this - and some have more than others (reflected in their country's higher rank) - so what?

One must always strive for better, no doubt, but at least the basics are in place.

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Re: Sri Lankan Average wage vs India

Postby raja » Sat Jun 09, 2018 5:34 pm

But I recognise that each person has a different take on all this.

For me, I really don't care too much about a country's ranking.
Rankings go up and down all the time - they are relative anyway and only suggestive.

What I care about is how many people are deprived of food, education, healthcare, even freedom to express their views?
That is REAL.
People die, or lead miserable lives, from deprivation.
And everyone should be born free (at least I hope so in a post-slavery world) - so if a person is still bonded in today's world, it's a shame.

I realise I might have veered off topic.

But just sharing some random thoughts, FWIW.

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Re: Sri Lankan Average wage vs India

Postby Going South » Sat Jun 09, 2018 5:56 pm

to me i rank based on one simple question “given a choice where do you want to live for the rest of your life”. count at home vs away votes.its like asking would you rather live in pakistan or switzerland given a choice for both citizens of each country.

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Re: Sri Lankan Average wage vs India

Postby squarecut » Sat Jun 09, 2018 6:12 pm

@Raja, Social figures that you had quoted basically showed that Bangladeshis were less likely to suffer from infant mortality and more likely to live longer. That is all.

What they would achieve while living longer if they do not have access to quality education and their products have little demand outside. At present their main export is garments and leather industry, which are low skill activities where they do not have much competition from other countries because they have already graduated to higher end manufacturing activities. What about manufacturing and exporting higher ends engineering stuff like automobiles, electronic goods etc ? They stand nowhere. So unless they move up the value chain, they will soon reach the saturation point in garment and leather industry stuff and then they will not have anything else.

That is where the quality indices that I discussed above matter. If you score low in those indices, then it means that you are not competitive when it comes to higher end stuff, forget cutting edge high tech stuff. The world needs only so much of garments and leather products. After that they need higher end stuffs. The advanced economies manufacture those high end stuff. Lack of skilled workers has been a real problem for Bangladesh economy.

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Re: Sri Lankan Average wage vs India

Postby raja » Sat Jun 09, 2018 6:31 pm

Going South wrote:to me i rank based on one simple question “given a choice where do you want to live for the rest of your life”. count at home vs away votes.its like asking would you rather live in pakistan or switzerland given a choice for both citizens of each country.

Agree. This makes a lot of sense actually.
It puts everything together. :grin: