DancingDonut
The largest export from India is not IT services
It's F&O losses by retail traders. We keep shipping our salaries to Hedge funds like Jane Street.
Gee, that sounded something that Aviral Bhatnagar would say.
4mo ago
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GoofyPanda
Stealth4mo
I understand your point, but do we have data that tells us that the loss in f&o >> IT export
DancingDonut
Stealth4mo
It's lower. IT Sector exports is $200bn while losses were to the tune of $6bn (excluding transaction costs)
That's why I said it was like AB. Because it's exaggerated and factually incorrect.
DancingDonut
Stealth4mo
Actually, you know what. We shouldn't look at revenue of exports. Net profits, what they actually retain, is the right number. Which is 15-20%. So, it's actually $18bn (I am taking 15%) of post tax value that we make. And we give back $6bn (of outlr post tax earnings). These are comparable numbers
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