Weekend reads from India - May 5, 2018 Tweet05 May 2018
- The 10 Wealthiest Countries in the World (Visual Capitalist)
Over the last decade, China and India have more than doubled their wealth. Meanwhile, developed economies like the United States and Japan have increased wealth at modest rates – and some, like Italy and France, even lost modest amounts of private wealth over that duration of time.
While the ranking order of the top three wealthiest countries will remain the same, India is expected to shoot up 200% to claim the #4 position with $24.7 trillion in private wealth.
- Celebrating Flipkart hides disturbing truths about our internet economy (Economic Times)
So, the biggest story in one of the world’s biggest online markets is that two foreign businesses will fight for supremacy. Just as Indian-founded but foreign-funded Ola is competing with foreign company Uber.
- The difficulty of making sense of Indian jobs data
Indian labour market data is devilishly difficult to analyse. There are several reasons why this is so. First, a large part of the labour force is in the informal sector, where information is very difficult to collect on a monthly basis. Second, sample survey data is often confusing because of the withdrawal of women from the labour force over the past 15 years. Third, employment numbers for the young need to be handled with care since more children are staying back in college rather than seeking work. Fourth, the formalization of the Indian economy means that there are profound structural shifts taking place in the composition of the labour force.
- One Day, India Will Beat China In E-commerce (Forbes)
And there is potential of a “war” between Indian e-commerce companies like Flipkart and Chinese companies like Alibaba for mining this fortune. “Two leading marketplaces, Snapdeal and Paytm, have Alibaba as a partner, which will accelerate the flood of Chinese products,” notes Erisman.“This will lead to tensions and perhaps even restrictions on Chinese goods coming into the country at the same time that “Make in India” is getting a huge push.”
- Ola founder Bhavish Aggarwal fights to avoid Flipkart’s fate (Livemint)
In dealing with investors, Aggarwal has been ahead of the curve compared with other top entrepreneurs. He strengthened his legal rights and restricted those of SoftBank last year. Even before that, he ensured that with every new funding round, he brought new investors to Ola thereby curbing the influence and power of any single investor. That’s unlike Flipkart and Snapdeal, which were over-dependent on Tiger Global and SoftBank, respectively.