Thinking Citizen Blog —The Economy Of India — What Should Every Thinking Citizen Know?

John Muresianu
5 min readJun 11, 2024

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Thinking Citizen Blog — Tuesday is Economics, Finance, and Business Day

Today’s Topic: The Economy of India — what should every thinking citizen know?

Well, although the populations of China and India are not far off (1.482 billion for India versus 1.4257 for China), China’s GDP is 6X that of India — $18 trillion versus $6 trillion.

What does the comparison with Russia and Brazil look like? Well Russia has a population of 144 million (roughly a tenth of India’s) and a GDP of $2.24 trillion (roughly two thirds of India’s. Brazil has a population of 215 million and a GDP of $1.92 trillion.

Today, a few more notes. First, an historical perspective. Second, a geographic perspective. Third, a stock market perspective.

Experts — please chime in. Correct, elaborate, elucidate.

INDIA DECLINED FROM OVER 30% OF GLOBAL GDP TO UNDER 5% AND IS NOW ABOUT 9%

1. After World War II India followed the Soviet model, Liberalization started in 1991 under Prime Minister P.V. Narasimha Rao (1991–1996), the first Prime Minister from southern India.

2. Rao’s most important decision was naming Manmohan Singh his Finance Minister. Singh was the architect of India’s economic turnaround.

3.Singh would become India’s first Sikh Prime Minister, serving from 2004 to 2014. and the “first Prime Minister since founding father Jawarhalal Nehru to be re-elected after serving a full five year term.”

NB: Manmohan Singh (below) is generally considered to be the greatest Indian Prime Minister since Nehru. On the other hand, Nahendra Modi has called him “a puppet of the Gandhi family.”

THE FOUR LARGEST STATES AS RANKED BY GDP — plus population and GDP per capita (note contrast in GDP per capita between Uttar Pradesh and the three others)

1. Maharastra (west coast, below Rajasthan and Gujarat, above Goa and Karnataka): GDP $417 billion — Pop: 112 million, GDP per capita:$3,733, biggest city: Mumbai.

2. Tamil Nadu (southeatern corner, below Andrah Pradesh): GDP $265 billion — Pop: 72 million, GDP per capita $3,680, biggest city: Chennai (formerly Madras)

3. Uttar Pradesh GDP $265 billion — Pop: 200 milion, GDP per capita $1,325 biggest city: Kanpur (very close to Lucknow)

NB: Karnataka GDP $264 billion, Pop 67 million, GDP per capita, $3,940, biggest city, Bangalore, which has two nicknames, “The Silicon Valley of India” and “Garden City” — for its “pleasant weather and tree-lined streets.”

Have you been?

THE BIGGEST CAP STOCKS IN THE INDIAN STOCK MARKET — Reliance and Tata Consultancy Services

1. Reliance Industries: conglomerate (including energy, chemicals, retail, media). 45% owned by the family of the founder Dhirubhai Ambani (1938–2002)

2. Tata Consultancy Services: India’s biggest tech company. Founded in 1968. Majority owned by the Tata Group whose history dates back to 1868. The Tata family are Parsis — Zoroastrians descended from Persians who “migrated to Medieval India during and after the Arab conquest of the Persian empire… to escape religious persecution.”

FOOTNOTE — Projected population of India, China, Nigeria in the year 2100 (last link below) Interestingly, India’s population is projected to decline to 1.0 billion by 2100 (and China’s to 732 million) while Nigeria’s is projected to rise from 200 million to almost 800 million. Any experts out there?

Economy of India — Wikipedia

Wall Street Lands on India, Looking for Profits It Can’t Find in China

Economic liberalisation in India — Wikipedia

Licence Raj — Wikipedia

P. V. Narasimha Rao — Wikipedia

Manmohan Singh — Wikipedia

List of Indian states and union territories by GDP — Wikipedia

Top 10 Companies In India By Market Valuation In 2024 — Forbes India

Reliance Industries — Wikipedia

Dhirubhai Ambani — Wikipedia

Mukesh Ambani — Wikipedia

Tata Group — Wikipedia

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

Tata Sons — Wikipedia

Tata family — Wikipedia

Parsis — Wikipedia

The World Population in 2100, by country

QUOTE OF THE MONTH

“Make your own Bible. Select and collect all the words and sentences that in all your readings have been to you like the blast of a trumpet.”

- Ralph Waldo Emerson

My spin — then periodically review, re-rank, and exchange your list with those you love. I call this the “Orion Exchange” because seven is about as many as any human can digest at a time. Game?

ATTACHMENTS BELOW:

#1 A graphic guide to justice (9 metaphors on one page).

#2 “39 Songs, Prayers, and Poems: the Keys to the Hearts of Seven Billion People” — Adams House Senior Common Room Presentation, (11/17/20)

#3 Israel-Palestine Handout

NB: Palestine Orion (Decision) — let’s exchange Orions, let’s find Rumi’s field (“Beyond all ideas of right and wrong, there is a field. Meet me there” Rumi, 13 century Persian Sufi mystic)

THE LAST FOUR YEARS OF POSTS ORGANIZED THEMATICALLY INTO FOURTEEN BOOK-LENGTH PDFs:

PDF with headlines — Google Drive

YOUR TURN — Please share:

a.) the coolest thing you learned this week related to business, economics, finance.

b.) the coolest thing you learned in your life related to business, economics, finance.

c.) anything at all related to business, economics, finance.

d.) anything at all

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John Muresianu

Passionate about education, thinking citizenship, art, and passing bits on of wisdom of a long lifetime.