Tag: Indian economy crisis

Sinking economy of India & and behind the scenes

Business, Economy, News

Word economy has lost its balance due to Covid-19 pandemic since 2019. Largest economy in the world has come to their knees and struggling to retrieve its previous position. Most of the underdevelopment country in Asia has the same undeniable situation. India is one of those country locate in South Asia who suffered in such economic crisis even before Covid-19 pandemic. It was significantly reducing its GDP in last five to six years ruled by BJP government. Its touched at 23.9 in minus GDP growth in 2020 where their target was to achieve double digit. 5 trillion economies were the vision till 2021 and become the Vishwa Guru (World Leader) by Make in India and many more plans.  Expert says, political wrong decisions makes direct impact on economy and leads to today’s crisis. 

let’s Discuss Six major economic criteria where economy has impacted.

  1. Divide and Ruled

When British came to India for trade and occupied Indian continent and ruled over it by divide sect, community, language & Religion. They create hatred among various group in India and take taxes to save one from another. This is how current government playing the innocent people of India. NSA is a common IPC use to through someone behind the bar by government especially honest journalist and Muslim leaders, it’s very comment in current Indian situation. Government’s intention is to makes fight between Hindus & Muslims, take an example which was happened in Delhi last year.

2. Demonetization

Suddenly at evening 9 O’ Clock Mr. Prime Minister came live one TV and Declare 500 and 1000 rupees will no longer valid to use all India wide. It’s nothing but a pieces of paper, People can exchange those note in bank and this is how it has stopped and falling down the curve of economic growth.  People spend long time in front of ATM Booth and during this time people dies in waiting line. All small entrepreneur forced to slow down their business due to lack of Hard cash transaction. 

3. GST (Goods and services tax)

Small Business dies for this taxation system; One nation one tax was the idea and it could lead the country more financial growth but result was not hopefully at all. Its makes profitable for larger companies on the other hand small business are trapped in GST and forced them to shut their business.

4. Investment Non-friendly environment

India came first on ranking of most corruption leading country in south Asia. This country’s major younger people are job less even after completing higher education because of Investment Non-friendly environment. Foreign investor afraid to invest here in India. Local goons are asking extortion money for any business by the support of political parties. Bribe is key important part to pass any government work even its followed each criteria. So result is No Investment = No Plant (Job Scope) = No job = No economic growth. And finally doctors and engineers are being a part of pakoda yojana rather than work in hospital or in any project.

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Bangladesh is booming it’s economy in garment sector.

5. Media (the 4th Pillar of Democracy).

Indian media has loos it credibility in Indian even worldwide. They become meme and joke in this time in international media. They make fun of them because of their reporting styles and fake information. Ground reporting has abolished except a very few channel and took that place a new technique called debate. They select a topic to blame opposition, call expert, and of course ruling and opposition spoke person to make it an interesting debate. Sometime its go beyond of imagination with attacking persons, using slang language, do unusual things and physical fighting on air.

6. Bank Fraud (Black Money)

Estimate says; Indian black money currently present in Swiss and other offshore banks is estimated to be ₹300 lakh crores or US$1.5 trillion. There are too many names come to the front who has done bank fraud who was close to government and currently settled in foreign. There are too many incidents can be taken as an example about bank scam. People save their money to a bank and later on find out that Bankruptcy.

In the conclusion, there are few things need to change to overcome from this historic crisis. Let’s wait and see how government take any imitative action and find the way out. 

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why garments workers are loosing their job?

Economy, Garments, News
why garments workers are loosing their job


Bangladesh performing very well in GDP growth for past decade. Where they mostly depends on garments manufacturing sector. It’s contributed 85% of Bangladesh’s economy statistics has released by government.

The giant business country USA and China has been fight together for last few month. For the sake of Huawei and national security issue in USA, as per Donald trump’s public speech. Bangladesh and those country in Asia took the chance to booming it economy. Bangladesh successfully achieved that opportunities.

You might be interested to read how Bangladesh is booming in garments sector

Bangladesh has topped by GDP growth.
Bangladesh is booming it’s economy in garment sector.

Thus; Bangladesh should be more beneficial for manufacturing company along with its workers. But recently “more than 25000 of garments workers losses their job and 40 factories has shutdown” non-government organization says. This country is well known for cheap price & good quality of products. Because labor cost was as low as 5,300/= BDT approximately ($62.7397). December last year the government take a vital decision to grant workers demand to increased minimum wages to 8,000/= BDT approximately ($94.6952 ).

There are too many small factories who was doing business by sub-contract in challenging working environment with low cost workers. Those people makes small company who has a little garments knowledge. After implementing the minimum wage law; they faces horrible situation and force to shutdown the factory. Because they are unable to provide government approved minimum wage. This is how the small business owners unable to continue the business. So thousand of workers had lost their job and come out to the street for protesting and demand for job.

The neighbor country India, who was world’s 5th largest economy in last year. But now it has dropped by 7th position . Their workers losses the job more rapidly than Bangladesh. India experiencing financial crisis.

so not only garments sector but also each and every sector is going down on growth statistics. Automobiles sector had a huge shocked as low as last 45 years and losing lakhs of job. India slipped to 103 from 100 in global hunger index in about 119 countries. Experts says this GDP slowdown causes demonetization, GST, and many more wrong decision taken by current government.

You might be interested to read about.

Is India ready to take the advantage of US-China trade war

On the other hand, the giant business companies in Bangladesh performed much better with this such environment. An Executive of cutting department in a factory located in Gazipur, named Mr. Abdul Kalam says to textile student that “most of the company holds the increment of office stuff due to increment of workers to balance company’s expenses for several month. Even the festival bonus didn’t paid at all in last few occasions.

Mr. Abdul Kalam express the happiness after know that GDP growth of Bangladesh. He prays to Allah for more success for his company and country.

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Bangladesh is booming it’s economy in garment sector.

Business, Garments, News
Bangladesh is booming in its garments sector

Bangladesh is a tiny country in South Asia, growing up after had a liberation war against Pakistan. Most of the people doesn’t know clearly about Bangladesh. But some of you might notices that “made in Bangladesh ” below your garments brand tag mostly in western country. Because, Bangladesh is the second largest garments exporter in western country after China.

The interview video taken might be long ago but I saw that a few months ago. The shirts was made in Bangladesh. which is used by Donald trump (USA president). Unbelievable! Isn’t It? Bangladesh is booming it’s economy in garment sector.


Few months ago I wrote an article about the business opportunities that India, could have get. But due to too much internal political issues they fails to acquire such opportunities. Even India currently fighting with its worse financial crisis in every financial sector like auto mobile’s, IT, Chemical, textile and consumer product’s etc.

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Bangladesh has topped by GDP growth.
why garments workers are loosing their job?
Is India ready to take the advantage of US-China trade war


Bangladesh gets those business and show some positive growth in recent economic year. It’s contributed 85% in total countri’s economy. Estimates $388 crore in July this year. which is maximum by exporting garments, economic statistics says. This statistics placed a significant milestone by increased almost 10% by previous financial year.


Due to USA- China trade war, both country internally boycotted each other products and services. So they are looking for alternative source’s to Full fill their necessity. Bangladesh would be one of their first choic for cheap price, good quality and execute in lead time.


Experts say’s the “export might be increased after October”. We’ll see it’s effective on November. because the it’s the time when western country asked for shipment. economic advisor of government has predicted, the current financial year’s milestone would be $450 crore. Base on that prediction, Bangladesh need to export at least $380 crore each month consistency to touch the desire milestone. It’s a matter of time to see, do they have the guts? To do or not to build the nation in a suitable placed in the list of middle class country list.


Manufacturers demand for improvement of the infrastructure of port, rules & regulations. As they can make the goods in reasonable price and send to the customer in lead time. Bangladesh is booming and prediction says, it could more success in near future.

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