Work for workers.

"Indian equity markets extended their winning streak for the 8th consecutive calendar year, with the Nifty gaining 20% in 2023. Mid-cap and smallcap investors saw an even faster rise in wealth. Many IPOs delivered outstanding returns as investors rushed to new offerings amid a dearth of newly valued stocks in secondary market. Retail investors continued to invest big, steadily eroding foreign investors' hold on the Indian market." "India has signed labor supply agreements with some countries, including Japan and France, and negotiations are being held with the Netherlands, Greece, Denmark and Switzerland." "Taiwan has shown interest in hiring 100,000 Indians to work in factories, farms and hospitals." "An agreement has been signed with Israel under which India will send 42,000 workers to that country." DH. Two-thirds of India's population is under 35 years of age and 12 million reach employment age every year. "A staggering 42% unemployment rate among young graduates under 25 years old" compels them to take "menial roles as delivery boys, telecallers, construction workers, or vendors of street food." DH. "DMK MP Dayanidhi Maran's 2019 speech, in which he said that people from Uttar Pradesh and Bihar who speak only Hindi end up 'cleaning toilets' and as construction workers in Tamil Nadu whose youth work as software engineers due to their English proficiency." DH. Naturally, this resulted in a massive row. Now with the government supplying labor, they can clean toilets in rich countries and get paid in foreign currencies. "India recorded a trade deficit with nine of its top ten trade partners in the first seven months of 2023-24 with the US being the only country with which exports exceeded imports." ET. These toilet cleaners and construction workers will send money home and can be counted as exports. Already, "Inward remittances to India increased 12.3% in 2023 to touch $125 billion, estimates released by the World Bank revealed." ABP. In 2022, remittances constituted 3.29% of India's GDP. Global Economy. "Global brokerage firm Goldman Sachs predicts a positive trajectory for the Indian rupee in 2024, anticipating that it may rise to 81 against the US dollar by the end of the year." India Today. However, it will not be all gain and no pain. "The two most important free trade agreements (FTAs) that India is negotiating are with the UK and the European Union (EU)." "Apart from zero duties, the UK and EU also have lower trade weight applied Most Favored Duties of 4.1% as against India's 12.6%. So when a large part of trade moves to a lower duty regime it would give substantial advantage to exporters from the UK and EU but Indian exporters which even now have to face lower duties in these markets will get a limited benefit." FE. Send our youth to clean toilets and work in construction in rich countries, instead of in Tamil Nadu, and reduce our unemployment rate and trade deficits. Can't lose.