Was wondering if I can comfortably skip this section. This section doesn’t have any questions at the end of the chapter, and I don’t quite see how they could test us on this. Your views please!
Knowing the conditions for growth in BRICS must suffice I guess…
But I agree generally nothing looks testable there. But then who are we to game the CFAI, I might as well read those 3 pages along with the 100s I have to read
This section is the same propoganda you read in the economic times everyday. INDIA is booming yar, doing the needful, will be a bigger economy than the rest of the world combined within 15 years. Skip it.
So Emptysea, Sooraj and Tikka, what is your opinion about the Indian economy in 15 years time, will there be any meaningful boom? Im quite interested to get a view from insiders like you guys.
What are the job prospects for a foreign Charterholder or CFA Candidates in India? If someone like me, with no experience from India would apply for jobs there, how would it be recieved?
15 years time, there would be a boom or a meaningful boom ONLY if there is a proper environment created for Development. Infrastructure has to improve, Bureaucracy has to be done away with, Entrepreneurship has to be encouraged - unless these happen the boom is only on paper…
CT would be the best person to answer you Zlack regarding the job opportunities… Unfortunately I am IT programmer and doing CFA for the heck of doing it - so my knowledge on the industry is very very limited :))
I would at least understand the section that discusses what could interfere with their growth projections (i.e., essentially the conditions for economic growth). But most of the details could probably be skipped, I’d imagine.
I agree with everything written here. Trying to handicap it is difficult. India has come lightyears since I got here. But that’s because the place was stoneage. It was starting from a pretty low bar.
Every single major company has piled into India in the past six years. This has been tremendous for growth. However, most of these companies will find that they can’t make money in India. So far most haven’t but they are here because they don’t want to miss out on the next 50 years. They are willing to eat losses for a long time just to be here. I think we had something like 20 foreign cell phone providers here until very recently.
As you can imagine all that foreign investment created a huge boom in every sector, especially finance. The market is pretty saturated these days. Every Indian IT guy, like Suraj, has decided to learn finance. So if you are competing for a job you are competing against a few million guys like that who will work for around 500 dollars a month. Not something you want.
India is a hard place to make money period. Indians are incredibly cheap. Where people make money in India is selling services to less cheap foreigners. This is also the only type of job for white people in India generally. They need white people less and less. The general trend is to bring a johnny white boy over from hong kong for a few years. He trains a bunch of people and then when they get sick of paying his salary they move him out and replace him with a local. The problem with selling services to foreigners is that India can only grow as fast as the customers they sell services to can grow. Also, there are now cheaper places to do business than India. Wages are catching up.
The expat scene is tiny. I think there are a few thousand of us in a city of 20 million. Compare that to say, London where every other person is foreign. Id look elsewhere.
It probably took you longer to draft your original post than it takes to review this reading.
Yeah I agree, it’s a shit reading. I almost feel like writing the CFAI and telling them: I’m an Indian(sorta) investment professional, and this reading is horseshit.