Indian Economy: News and Discussion
- Thread starter Tuco
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3407 billion rupees is 3.4 lakh crore isn't it?
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Sorry may bad............................
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Almost $700 Billion dollar worth of bonds are there for a sale in open market through RBI..here is link
https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1956
https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1956
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Here is the other real time Government securities sale portal...
https://www.ccilindia.com/OMHome.aspx
And most of India's G-sec and forex is settled by ccilindia.com for RBI
https://www.ccilindia.com/OMHome.aspx
And most of India's G-sec and forex is settled by ccilindia.com for RBI
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Gujarat Vibrates On Development With Foreign Investment, Despite Demonetization
Location of Gujarat in India. Source: Wikipedia Commons.
Cutting Edge
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APPLE SEEKING LOWER TAXES TO MAKE IPHONE IN INDIA
Apple wants India to offer tax concessions on iPhones that the company plans to manufacture in the country, a person with knowledge of the matter said.
The company wrote to the industry ministry last month seeking lower import and manufacturing duties, the person said, asking not to be identified citing rules on speaking to the media.
The concessions should continue even after the government rolls out its goods and services tax which is expected to subsume all existing tariffs, the person said.
The Cupertino, California-based manufacturer of iPads and iPhones is keen to kick-start operations in the world’s fastest growing phone market as growth slows in countries such as China.
Apple trails rivals selling cheaper handsets in the $2 trillion Indian economy and producing devices in the country could accelerate the roll out of its iconic retail stores to capture burgeoning demand in India.
Apple’s path toward a bigger slice of Indian sales hasn’t been smooth. Its application to open stores was rejected as it fell foul of local rules that typically require at least 30 percent of components to be made locally before a foreign company can sell through their own outlets.
Apple makes most of its products in China and doesn’t currently meet that criteria.
Apple’s spokesman in India, and Mattu J.P. Singh, a spokeswoman at India’s Commerce and Industry Ministry didn’t immediately respond to emails seeking comment.
Prime Minister Narendra Modi wants companies to make products in the country as part of his ‘Make in India’ policy, aimed at reaping the benefits that come from manufacturing facilities and jobs.
His administration doesn’t want technology companies to sell products and take advantage of its vast consumer base without making their own capital investments.
The company wants to start discussions with the tax department on future liability on its India earnings, the person said. It has also sought competitive advantages compared to other economies where they are already manufacturing.
While Foxconn – Apple’s main manufacturing partner – has expressed plans to assemble phones in the country for brands like China’s Xiaomi, most iPhones are put together in China. The Taiwanese company only began making its first smartphones in India in the middle of 2015.
http://mumbaimirror.indiatimes.com/...make-iphone-in-india/articleshow/56260700.cms
Apple wants India to offer tax concessions on iPhones that the company plans to manufacture in the country, a person with knowledge of the matter said.
The company wrote to the industry ministry last month seeking lower import and manufacturing duties, the person said, asking not to be identified citing rules on speaking to the media.
The concessions should continue even after the government rolls out its goods and services tax which is expected to subsume all existing tariffs, the person said.
The Cupertino, California-based manufacturer of iPads and iPhones is keen to kick-start operations in the world’s fastest growing phone market as growth slows in countries such as China.
Apple trails rivals selling cheaper handsets in the $2 trillion Indian economy and producing devices in the country could accelerate the roll out of its iconic retail stores to capture burgeoning demand in India.
Apple’s path toward a bigger slice of Indian sales hasn’t been smooth. Its application to open stores was rejected as it fell foul of local rules that typically require at least 30 percent of components to be made locally before a foreign company can sell through their own outlets.
Apple makes most of its products in China and doesn’t currently meet that criteria.
Apple’s spokesman in India, and Mattu J.P. Singh, a spokeswoman at India’s Commerce and Industry Ministry didn’t immediately respond to emails seeking comment.
Prime Minister Narendra Modi wants companies to make products in the country as part of his ‘Make in India’ policy, aimed at reaping the benefits that come from manufacturing facilities and jobs.
His administration doesn’t want technology companies to sell products and take advantage of its vast consumer base without making their own capital investments.
The company wants to start discussions with the tax department on future liability on its India earnings, the person said. It has also sought competitive advantages compared to other economies where they are already manufacturing.
While Foxconn – Apple’s main manufacturing partner – has expressed plans to assemble phones in the country for brands like China’s Xiaomi, most iPhones are put together in China. The Taiwanese company only began making its first smartphones in India in the middle of 2015.
http://mumbaimirror.indiatimes.com/...make-iphone-in-india/articleshow/56260700.cms
SANITY
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Positive on India; trade war with China a bad idea for US: Faber
Swiss investor Marc Faber is positive on India in the long term and says the agriculture and food sectors look attractive.
Swiss investor and Editor & Publisher of 'The Gloom, Boom & Doom Report, Marc Faber is positive on India in the long term and says the agriculture and food sectors look attractive.
"I think the market became oversold a week ago and we can rebound somewhat here. I do not think that the global markets will go up strongly," Faber said in an interview to CNBC-TV18.
For global markets, he sees the biggest risk from geopolitical events. It is a bad idea for US to pick trade war with China. US consumer would suffer more from the trade war, said Faber.
According to Faber, US President-elect Donald Trump inherits hugely inflated asset markets, which too pose a risk to the US market.
US stock market has significantly outperformed other markets and it leaves it vulnerable to adjustment, he says.
Below is the transcript of Marc Faber’s interview to Anuj Singhal and Sonia Shenoy on CNBC-TV18.
Sonia: We have big events lined up in India this month, there is earnings, there is the Budget and of course, we are still reeling under the aftermath of the demonetisation impact, something that you spoke about earlier where you said that you do not support it. What is your view on India now for at least the next six months?
A: I think the market became oversold a week ago and we can rebound somewhat here. I do not think that the global markets will go up strongly. We had actually, last year, some very strong rebounds in Russia up 56 percent in dollar terms, Brazil up 66 percent in dollar terms and then we had in Asia many markets that were up between 15 and 30 percent. I do not think this will be repeated next year. But obviously, we have this huge liquidity in the world and whenever somebody will sell something, he will buy something else. In other words, if people sell the US dollar, if people sell the US stock market, they can reinvest the proceeds somewhere else.
Anuj: In emerging markets (EM), where would India rank right now because 2016 was one of the few years where Indian market actually underperformed the EM universe by quite a margin?
A: Yes, it is not the first time that India has underperformed, but I think the outlook, longer-term and I am a long-term investor, I look ahead at 5-10 years, there are great opportunities. But I would like to point out to one thing about markets. In the last few years, there has been a trend to indexation. In other words, you just buy the index in a market. And you hope that the index will go up and the institutions by the indices because the costs are low, associated with exchange traded funds ( ETF ) that follow index. Whereas, active management, the fees are higher and in the last few years, the active managers have by and large, underperformed the market.
But this is going to change. If I look at last year, some sectors, and as I just pointed out, some markets have performed very well and in India it is a case of not necessarily owning the index, but owning individual sectors, as was the case in other markets last year. In the US, energy was the best performing sector and other sectors did not perform very well, say the high flyers, Netflix, Facebook, Amazon, in the second half of the year, they underperformed or even went down. So, I believe it is more a question, rather than to worry about where will the market go, but to question what sectors will do best.
And before, you had someone on your station that talked about agriculture and food stocks. I think this is a sector that is actually attractive because agricultural commodity prices are depressed, they have been going down since 2011-2012 and started to move up last year with sugar almost doubling. So there is a play in agricultural companies, plantations.
Sonia: To slightly come back to the bigger picture, what is, according to you, the biggest risk for global markets in 2017?
A: The biggest risks, in my view, are geopolitical events. It would be really a bad idea for the US to pick trade war with China. China has much more endurance in terms of enduring hardship than the US and the US consumer would suffer more from a trade war than China. The US only accounts for 18 percent of Chinese exports and in the case of steel, the imports into the US from China are only 3 percent. So you can see that actually China does not depend on steel exports to the US for its wellbeing and they could easily divert part of the exports that go to the US today to other countries.
The second risk which is frequently over looked. When Mr Ronald Reagan became president in 1981, he was elected in November, 1980, asset markets were very depressed and interest rates at very elevated level. The treasury yields in America on the 20-year and 30-year bonds was over 15 percent. So, he inherited a huge tailwind of diminishing inflation, falling interest rates and depressed assets that had a huge upside potential in the 1980’s. Trump, he inherits, and that is the biggest risk, hugely inflated asset markets. The bond markets in the developed countries, as you know, have the lowest yield they ever had in the history of mankind. The bond yields will not go much lower. Now, can the 10-years yield that has gone from 1.3-1.4 percent to 2.5 percent, can it go back to 1.7 percent or 1.5 percent? Yes, possible, but it will not go much below 0 percent.
And number two, when you look at stock markets as a percent of the economy, the stock markets around the world as a percent of the economy are at a very high level, especially in the US. In other countries less so, but in the US they are. Furthermore, the US stock market has significantly, and I repeat, significantly outperformed other markets in the world since 2011 and it leaves it vulnerable to an adjustment. The adjustment may happen with the US not going up a lot. But other markets like India, emerging markets in general, Europe outperforming the US, or it could happen with everything coming down and then the US underperforming, going down more than other markets, which actually would be my view, what will happen. This is the risk.
Swiss investor Marc Faber is positive on India in the long term and says the agriculture and food sectors look attractive.
Swiss investor and Editor & Publisher of 'The Gloom, Boom & Doom Report, Marc Faber is positive on India in the long term and says the agriculture and food sectors look attractive.
"I think the market became oversold a week ago and we can rebound somewhat here. I do not think that the global markets will go up strongly," Faber said in an interview to CNBC-TV18.
For global markets, he sees the biggest risk from geopolitical events. It is a bad idea for US to pick trade war with China. US consumer would suffer more from the trade war, said Faber.
According to Faber, US President-elect Donald Trump inherits hugely inflated asset markets, which too pose a risk to the US market.
US stock market has significantly outperformed other markets and it leaves it vulnerable to adjustment, he says.
Below is the transcript of Marc Faber’s interview to Anuj Singhal and Sonia Shenoy on CNBC-TV18.
Sonia: We have big events lined up in India this month, there is earnings, there is the Budget and of course, we are still reeling under the aftermath of the demonetisation impact, something that you spoke about earlier where you said that you do not support it. What is your view on India now for at least the next six months?
A: I think the market became oversold a week ago and we can rebound somewhat here. I do not think that the global markets will go up strongly. We had actually, last year, some very strong rebounds in Russia up 56 percent in dollar terms, Brazil up 66 percent in dollar terms and then we had in Asia many markets that were up between 15 and 30 percent. I do not think this will be repeated next year. But obviously, we have this huge liquidity in the world and whenever somebody will sell something, he will buy something else. In other words, if people sell the US dollar, if people sell the US stock market, they can reinvest the proceeds somewhere else.
Anuj: In emerging markets (EM), where would India rank right now because 2016 was one of the few years where Indian market actually underperformed the EM universe by quite a margin?
A: Yes, it is not the first time that India has underperformed, but I think the outlook, longer-term and I am a long-term investor, I look ahead at 5-10 years, there are great opportunities. But I would like to point out to one thing about markets. In the last few years, there has been a trend to indexation. In other words, you just buy the index in a market. And you hope that the index will go up and the institutions by the indices because the costs are low, associated with exchange traded funds ( ETF ) that follow index. Whereas, active management, the fees are higher and in the last few years, the active managers have by and large, underperformed the market.
But this is going to change. If I look at last year, some sectors, and as I just pointed out, some markets have performed very well and in India it is a case of not necessarily owning the index, but owning individual sectors, as was the case in other markets last year. In the US, energy was the best performing sector and other sectors did not perform very well, say the high flyers, Netflix, Facebook, Amazon, in the second half of the year, they underperformed or even went down. So, I believe it is more a question, rather than to worry about where will the market go, but to question what sectors will do best.
And before, you had someone on your station that talked about agriculture and food stocks. I think this is a sector that is actually attractive because agricultural commodity prices are depressed, they have been going down since 2011-2012 and started to move up last year with sugar almost doubling. So there is a play in agricultural companies, plantations.
Sonia: To slightly come back to the bigger picture, what is, according to you, the biggest risk for global markets in 2017?
A: The biggest risks, in my view, are geopolitical events. It would be really a bad idea for the US to pick trade war with China. China has much more endurance in terms of enduring hardship than the US and the US consumer would suffer more from a trade war than China. The US only accounts for 18 percent of Chinese exports and in the case of steel, the imports into the US from China are only 3 percent. So you can see that actually China does not depend on steel exports to the US for its wellbeing and they could easily divert part of the exports that go to the US today to other countries.
The second risk which is frequently over looked. When Mr Ronald Reagan became president in 1981, he was elected in November, 1980, asset markets were very depressed and interest rates at very elevated level. The treasury yields in America on the 20-year and 30-year bonds was over 15 percent. So, he inherited a huge tailwind of diminishing inflation, falling interest rates and depressed assets that had a huge upside potential in the 1980’s. Trump, he inherits, and that is the biggest risk, hugely inflated asset markets. The bond markets in the developed countries, as you know, have the lowest yield they ever had in the history of mankind. The bond yields will not go much lower. Now, can the 10-years yield that has gone from 1.3-1.4 percent to 2.5 percent, can it go back to 1.7 percent or 1.5 percent? Yes, possible, but it will not go much below 0 percent.
And number two, when you look at stock markets as a percent of the economy, the stock markets around the world as a percent of the economy are at a very high level, especially in the US. In other countries less so, but in the US they are. Furthermore, the US stock market has significantly, and I repeat, significantly outperformed other markets in the world since 2011 and it leaves it vulnerable to an adjustment. The adjustment may happen with the US not going up a lot. But other markets like India, emerging markets in general, Europe outperforming the US, or it could happen with everything coming down and then the US underperforming, going down more than other markets, which actually would be my view, what will happen. This is the risk.
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Chance to make millions using ISRO’s data
The data from Indian Remote Sensing (IRS) satellites are used for various applications of resources survey and management under the National Natural Resources Management System
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Ministry of Finance
30-December, 2016 16:24 IST
Department of Economic Affairs, Ministry of Finance releases Quarterly Statistics on India’s External Debt for the Quarters at end-September 2016; India’s External Debt at end-September 2016 stock stood at US$ 484.3 billion, recording a decline of US$ 0.8 billion (0.2 per cent) over the level at end-March 2016
Department of Economic Affairs, Ministry of Finance has been compiling and releasing quarterly statistics on India’s External Debt for the quarters ending September and December every year. This relates to India’s External Debt at end-September 2016.
The salient features of the Report are:
· At end-September 2016, India’s external debt stock stood at US$ 484.3 billion, recording a decline of US$ 0.8 billion (0.2 per cent) over the level at end-March 2016. The fall in external debt during the period was due to commercial borrowings and short term external debt. However, on a sequential basis, total external debt at end-September 2016 increased by US$ 4,768 million from the end-June 2016 level.
·
The maturity pattern of India’s external debt indicates dominance of long-term borrowings. At end-September 2016, long-term external debt accounted for 83.2 per cent of India’s total external debt, while the remaining (16.8 per cent) was short-term external debt.
·
Long-term debt at end-September 2016 was placed at US$ 403.1 billion, showing an increase of US$ 1.4 billion (0.4 per cent) over the level at end-March 2016. Short-term external debt witnessed a decline of 2.6 per cent and stood at US$ 81.2 billion at end-September 2016.
·
Valuation loss (depreciation of US dollar against the Indian rupee and most other major currencies) was placed at US$ 1.0 billion. This implies that excluding the valuation effect, the decrease in debt would have been higher by US$ 1.8 billion at end-September 2016 over the end-March 2016 level.
·
The shares of Government (Sovereign) and non-Government debt in the total external debt were 20.1 per cent and 79.9 per cent respectively, at end-September 2016.
·
US dollar denominated debt accounted for 55.6 per cent of India’s total external debt at end-September 2016, followed by Indian rupee (30.1 per cent), SDR (5.8 per cent), Japanese Yen (4.8 per cent) Pound Sterling (0.7 per cent), Euro (2.4 per cent) and others (0.6 per cent).
·
The ratio of short-term external debt by original maturity to foreign exchange reserves stood at 21.8 per cent at end-September 2016 lower than the 22.6 per cent at end June 2016 and 23.1 per cent at end-March 2016.
·
On a residual maturity basis, short-term debt constituted 42.0 per cent of total external debt at end-September 2016 (42.4 per cent at end-June 2016 and 42.6 per cent at end-March 2016) and stood at 54.7 per cent of total foreign exchange reserves (55.9 per cent at end-June 2016 and 57.4 per cent at end-March 2016).
·
The ratio of concessional debt to total external debt was 9.4 per cent at end-September 2016, same as at end-June 2016 and a marginal increase from the 9.0 per cent at end-March 2016.
The complete quarterly report of India’s external debt at end-September 2016 is available on the website of Ministry of Finance – www.finmin.nic.in.
*****
DSM/KA
(Release ID :155997)
30-December, 2016 16:24 IST
Department of Economic Affairs, Ministry of Finance releases Quarterly Statistics on India’s External Debt for the Quarters at end-September 2016; India’s External Debt at end-September 2016 stock stood at US$ 484.3 billion, recording a decline of US$ 0.8 billion (0.2 per cent) over the level at end-March 2016
Department of Economic Affairs, Ministry of Finance has been compiling and releasing quarterly statistics on India’s External Debt for the quarters ending September and December every year. This relates to India’s External Debt at end-September 2016.
The salient features of the Report are:
· At end-September 2016, India’s external debt stock stood at US$ 484.3 billion, recording a decline of US$ 0.8 billion (0.2 per cent) over the level at end-March 2016. The fall in external debt during the period was due to commercial borrowings and short term external debt. However, on a sequential basis, total external debt at end-September 2016 increased by US$ 4,768 million from the end-June 2016 level.
·
The maturity pattern of India’s external debt indicates dominance of long-term borrowings. At end-September 2016, long-term external debt accounted for 83.2 per cent of India’s total external debt, while the remaining (16.8 per cent) was short-term external debt.
·
Long-term debt at end-September 2016 was placed at US$ 403.1 billion, showing an increase of US$ 1.4 billion (0.4 per cent) over the level at end-March 2016. Short-term external debt witnessed a decline of 2.6 per cent and stood at US$ 81.2 billion at end-September 2016.
·
Valuation loss (depreciation of US dollar against the Indian rupee and most other major currencies) was placed at US$ 1.0 billion. This implies that excluding the valuation effect, the decrease in debt would have been higher by US$ 1.8 billion at end-September 2016 over the end-March 2016 level.
·
The shares of Government (Sovereign) and non-Government debt in the total external debt were 20.1 per cent and 79.9 per cent respectively, at end-September 2016.
·
US dollar denominated debt accounted for 55.6 per cent of India’s total external debt at end-September 2016, followed by Indian rupee (30.1 per cent), SDR (5.8 per cent), Japanese Yen (4.8 per cent) Pound Sterling (0.7 per cent), Euro (2.4 per cent) and others (0.6 per cent).
·
The ratio of short-term external debt by original maturity to foreign exchange reserves stood at 21.8 per cent at end-September 2016 lower than the 22.6 per cent at end June 2016 and 23.1 per cent at end-March 2016.
·
On a residual maturity basis, short-term debt constituted 42.0 per cent of total external debt at end-September 2016 (42.4 per cent at end-June 2016 and 42.6 per cent at end-March 2016) and stood at 54.7 per cent of total foreign exchange reserves (55.9 per cent at end-June 2016 and 57.4 per cent at end-March 2016).
·
The ratio of concessional debt to total external debt was 9.4 per cent at end-September 2016, same as at end-June 2016 and a marginal increase from the 9.0 per cent at end-March 2016.
The complete quarterly report of India’s external debt at end-September 2016 is available on the website of Ministry of Finance – www.finmin.nic.in.
*****
DSM/KA
(Release ID :155997)
Demonetisation only a bump, India to maintain 7% growth: Cisco
http://indianexpress.com/article/bu...ump-india-to-maintain-7-growth-cisco-4466479/
http://indianexpress.com/article/bu...ump-india-to-maintain-7-growth-cisco-4466479/
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Higher tax mop up reflects no slowdown post note ban: Jaitley
ANI | New Delhi Jan 09, 2017 03:55 PM IST
Arun Jaitley
Where are those Modi basher trolls now?:biggrin2:
ANI | New Delhi Jan 09, 2017 03:55 PM IST
ALSO READ: Statsguru: How govt's tax revenues got a demonetisation boost in Nov
@Akshay_Fenix @ezsasa @Chinmoy @OneGrimPilgrim @F-14B
Where are those Modi basher trolls now?:biggrin2:
Now this is the earning part of GDP, lets see how the expenditure part goes. With money inflow in banks, time is good for companies and individuals to get down to business. Its a high time for start ups too.Higher tax mop up reflects no slowdown post note ban: Jaitley
ANI | New Delhi Jan 09, 2017 03:55 PM IST
Arun Jaitley
ALSO READ: Statsguru: How govt's tax revenues got a demonetisation boost in Nov
@Akshay_Fenix @ezsasa @Chinmoy @OneGrimPilgrim @F-14B
Where are those Modi basher trolls now?:biggrin2:
I am myself looking for a business loan.... :biggrin2:
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They all goen in to deep statiesHigher tax mop up reflects no slowdown post note ban: Jaitley
ANI | New Delhi Jan 09, 2017 03:55 PM IST
ALSO READ: Statsguru: How govt's tax revenues got a demonetisation boost in NovArun Jaitley
@Akshay_Fenix @ezsasa @Chinmoy @OneGrimPilgrim @F-14B
Where are those Modi basher trolls now?:biggrin2:
OneGrimPilgrim
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i heard banks are now proactively offering loans and no-cost/low-cost EMIs and what-not these days via SMS and what-have-you.
But still very conservative in terms of Business loan. Housing loan and Auto loan EMI has come down tremendously. It is a boon time for start ups. For anything business like, I think you would have to wait till March.
OneGrimPilgrim
Senior Member
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i'd learn more about this from my banker friend...
Let me know too........ :biggrin2:
