Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

India: A billion people have no real money to spend, says report

bbc.com

Post reply on HN
Print view View original

41–50 of 54 posts

Re: India: A billion people have no real money to spend, says report

#41

Post by roncesvalles »

presentation wrote: post #35
m00x wrote: post #21

Earlier quoted context omitted.

With such low pay to compete with, it's ideal for startups.

My friend doing B2B SaaS startups in India is very negative on the market since buyers are so penny pinching - sounds like the way is to build there but sell elsewhere.

I think the Indian business mindset still hasn't adapted to Western-style capitalism (derisk your personal wealth, throw a lot of money, go big or go bust) and entrepreneurs spend very cautiously which ultimately leads to failed outcomes. You can even see this in the way that big public corporations behave.

Re: India: A billion people have no real money to spend, says report

#42

Post by burnermore »

roncesvalles wrote: post #40
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

This is generally inaccurate and not particularly insightful. Indians by and large aren't "paying tax like first world countries". The income tax rate is comparable to other countries and India actually has extremely low tax compliance. Only employees of medium and large companies report their incomes accurately. As for low quality products, well it's just catering to the price point of the Indian consumer. The numbe…

[dead]

Re: India: A billion people have no real money to spend, says report

#43

Post by burnermore »

mk89 wrote: post #19
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

> We pay tax like first world countries but get services like poorest of the poor countries. I asked chatgpt to give a comparison, and I am not sure which country you're comparing against, but it seems people in India pay significantly less than in EU for example. (20% vs 40%, etc...) EDIT: as cliché as it might sound, how about blaming it on the really high level of corruption spread across all layers? Corruption is…

[dead]

Re: India: A billion people have no real money to spend, says report

#44

Post by burnermore »

windex wrote: post #13
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

I hear they randomly seize vehicles older than 15 years and crush them even if perfectly maintained.

[dead]

Re: India: A billion people have no real money to spend, says report

#45

Post by burnermore »

roncesvalles wrote: post #40
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

This is generally inaccurate and not particularly insightful. Indians by and large aren't "paying tax like first world countries". The income tax rate is comparable to other countries and India actually has extremely low tax compliance. Only employees of medium and large companies report their incomes accurately. As for low quality products, well it's just catering to the price point of the Indian consumer. The numbe…

[dead]

Re: India: A billion people have no real money to spend, says report

#46

Post by burnermore »

x-complexity wrote: post #39
burnermore wrote: post #9

Earlier quoted context omitted.

Thank you. I updated the comment. I donno if you can see. Can I do something if my comment was not adhering to any guidelines?

I don't know why, but you're somehow being targeted; This comment was also made dead. If comments from newcomers are no longer allowed on HN, the hidden censors should speak up now to explicitly say so. Silent censorship is the harbinger of public debate's death.

[dead]

Re: India: A billion people have no real money to spend, says report

#47

Post by llampx »

roncesvalles wrote: post #40
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

This is generally inaccurate and not particularly insightful. Indians by and large aren't "paying tax like first world countries". The income tax rate is comparable to other countries and India actually has extremely low tax compliance. Only employees of medium and large companies report their incomes accurately. As for low quality products, well it's just catering to the price point of the Indian consumer. The numbe…

What you said doesn't refute the point.

India has low tax compliance, so people who pay taxes (middle-class, salary jobs, no way to hide income or wealth) shoulder an unfair part of the overall tax burden. This is obviously being worked on by the government, but it remains true.

Once you add up the expenditures from double-spending (for example private health insurance, private retirement saving, private school, toll roads) the tax burden is well above what you would pay in an EU country.

Re: India: A billion people have no real money to spend, says report

#48

Post by llampx »

dumbledoren wrote: post #25
anigbrowl wrote: post #6

I am reposting this comment, which was inexplicably marked [dead] within seconds of being posted, even though it is a brand new account with no comment or submission history at all. burnermore 2 minutes ago [dead] | parent | context | unvouch | favorite | on: India: A billion people have no real money to spen... Indians who have huge spending potential are in huge numbers. They are just leaving India. High skilled In…

> Every single damn thing can be traced back to tax we are burdened with irrespective of left/right govt in power. The working majority is burdened with such taxes so that the rich and corporations can get tax breaks. All these taxes, even including the sales taxes are means to dump the tax burden on the majority and give tax cuts to the rich.

This is true in all countries.

Re: India: A billion people have no real money to spend, says report

#49

Post by llampx »

roncesvalles wrote: post #41
presentation wrote: post #35

Earlier quoted context omitted.

My friend doing B2B SaaS startups in India is very negative on the market since buyers are so penny pinching - sounds like the way is to build there but sell elsewhere.

I think the Indian business mindset still hasn't adapted to Western-style capitalism (derisk your personal wealth, throw a lot of money, go big or go bust) and entrepreneurs spend very cautiously which ultimately leads to failed outcomes. You can even see this in the way that big public corporations behave.

Everyone wants something for nothing.

Re: India: A billion people have no real money to spend, says report

#50

Post by llampx »

kuttimaster wrote: post #24

Oh this is BBC hmm? lets get political this time. Over the past 11 years since the current government took charge people in India have been demanding a ton of changes :D. Before 2014 the Congress party ran the show for decades and I firmly believe they trashed our culture values and economy with their clueless vision for the future. But in the last 11 years Ive seen real progress with my own eyes better roads upgrade…

You only have to see the anti-Musk astroturfing on reddit to see how easily people are manipulated. The same has been happening against Modi, regardless of his merits.
Post reply on HN