Indian Economy: News and Discussion

[shade]

Optiemus to open 3rd factory

Homegrown contract manufacturer Optiemus Electronics Ltd will open a new factory for wearables in Noida by December-end as part of its strategy to expand capacity to meet growing demand for smartwatches and truly wireless stereo (TWS) earbuds, said director Nitesh Gupta

www.livemint.com

This company is going to open a seperate factory for wearable and wireless earbuds CKD/SKD assembly.
Never knew people buy so much smartwatches and wireless earbuds in India.

 

[Haldilal]

Ya'll Nibbiars The The Sajjan Jindal led JSW Group is foraying into the lending space with an investment of up to 400 crore rupees in a captive non bank lender housed in its E Commerce arm. The non bank finance company NBFC will be a subsidiary of the JSW One Platforms JSWOP and will be doing purchase finance for buyers on the newly started E commerce arm.

 

[ezsasa]

India imported an average of 842 annually over calendar 2017-2021, Metals Focus data shows.

Indians consumed 771 tonnes in 2017, with 602 tonnes being jewellery demand; bar and coin demand the rest.

 

[Lonewolf]

@Haldilal Billa ji how will you define condition of property market in Mumbai ,is it rising and shining again?

 

[GigaChadBharatiya]

In the name of bringing industries he has done shit in his multiple terms. Spent years pondering Farmer vote base . Whatever Growth is present its based upon good crop production per acreage.

MP could've been logistic hub , especially Jabalpur.
But this pathetic runt could not fast track JBP-Balaghat broad gauge even when Modi govt came into power in 2014 . And now every Amazon product crosses the country via Nagpur hub.

He won't have lost in 2020 if his tenures were all humpty dumpty..

Yes even Ratlam. If you see, coties like Ratlam, Indore are not that far away from the ports of Mundra/Kandla. If they built an expressway(or got Gadkari to do it), a few 1000 acre industrial parks around Indore/Ratlam would have worked wonders. Plus its close to DME. The biggest advantage they have is easily available land, but instead of quickly acquiring it build land bank, MP govt has mostly made populist governance like such and such free units of electricity, etc.

 

[Shuturmurg]

German economy at current rates is 3.6 trillion USD, India will be 3.3 to 3.4 trillion USD (based on currency, won't be able to reach 3.5 due to currency deprecation), with rebase and German economy fucked for next year as well, I think we might be able to become 4th largest economy by end of 2023 :

National accounts, domestic product

www.destatis.de

 

[dfcool]

India imported an average of 842 annually over calendar 2017-2021, Metals Focus data shows.

Indians consumed 771 tonnes in 2017, with 602 tonnes being jewellery demand; bar and coin demand the rest.

How does IIBX help india if we are primarily gold importers

 

[Enthusiast 007]

German economy at current rates is 3.6 trillion USD, India will be 3.3 to 3.4 trillion USD (based on currency, won't be able to reach 3.5 due to currency deprecation), with rebase and German economy fucked for next year as well, I think we might be able to become 4th largest economy by end of 2023 :

National accounts, domestic product

www.destatis.de

But that's in Euro. Euro might be down as of now, but it has generally hovered around 1.1$ per Euro level, hence 4 trillion in dollar

 

[Ugra Bhairav]

Kyu ho rha hai aisa? Reason kya hai?

Let me all tell you.

It is because of Mamaji, he dont understand Business and Industries.

Last surge was seen in Industries was in 2007-2008 when Kailash Vijaywargiya was Commerce & Industry Minister.

He literally pulled TCS and Infosys into MP along with other Industries. But after his tenure the things come to dead halt.

But no progress in new industries in MP after that, it got stuck after that, no new major development.

Shivraj is not able to properly present the case of MP to the Businesses.

He dont understand Industries & importance of the same.

No active promotion or luring of Industries is seen to develop Industries & Trade. Fault lies squarely with Shivraj.

 

[Shuturmurg]

But that's in Euro. Euro might be down as of now, but it has generally hovered around 1.1$ per Euro level, hence 4 trillion in dollar

That's what i said at market rates. Euro isn't going up anytime soon.

 

[ezsasa]

How does IIBX help india if we are primarily gold importers

over and above what is already mentioned in news articles.

here is niti aayog policy paper from 2018.
https://www.niti.gov.in/sites/default/files/2019-06/Report_GoldMarket.pdf

setting up commodity exchanges in India is part of Niti aayog's initiative.

 

[Bharatiya]

Someone please explain wtf happened in the last decade with the Chinese GDP.

GDP from 2007-2019:
$3.5T (China's GDP in 2007. Equal to India's 2022 GDP)
$4.5T (+28.5%)
$5.1T (+13.3%)
$6.09 T (+19.4%)
$7.55 T (+23%)
$8.53 T (+12.9%)
$9.57 T (+12.1%)
$10.48 T (+9%)
$11.06 T (+5.5%)
$11.23 T (+1.5%)
$12.31 T (+9.6%)
$13.89 T (+12.8%)
$14.28 T (+2.8%)

What actually happened in those years? China literally added $1T per year?

 

[Shuturmurg]

Someone please explain wtf happened in the last decade with the Chinese GDP.

GDP from 2007-2019:
$3.5T (China's GDP in 2007. Equal to India's 2022 GDP)
$4.5T (+28.5%)
$5.1T (+13.3%)
$6.09 T (+19.4%)
$7.55 T (+23%)
$8.53 T (+12.9%)
$9.57 T (+12.1%)
$10.48 T (+9%)
$11.06 T (+5.5%)
$11.23 T (+1.5%)
$12.31 T (+9.6%)
$13.89 T (+12.8%)
$14.28 T (+2.8%)

What actually happened in those years? China literally added $1T per year?

China has trade surplus, hence their currency doesn't deprecate, hence nominal GDP becomes bigger.

For eg -
China - 8% GDP growth + 4 percent inflation + 2% currency appreciation = 14% growth.
India - 7% growth + 4.5% inflation - 4.5% currency appreciation = 7 % growth.

 

[Bharatiya]

China has trade surplus, hence their currency doesn't deprecate, hence nominal GDP becomes bigger.

For eg -
China - 8% GDP growth + 4 percent inflation + 2% currency appreciation = 14% growth.
India - 7% growth + 4.5% inflation - 4.5% currency appreciation = 7 % growth.


View attachment 178625

Ah! Makes sense now.

Just in 2007, China's Yuan appreciated by around 7.5%! Compared to a decade ago, INR depreciated by more than a 100%.

But won't the appreciation of currency make exports less competitive? How did China manage?

And are we heading in a direction of Trade Surplus and currency appreciation? Our trade deficit from China has been growing too much, too fast. It's worrying.

Thank you for answering my previous query.

 

[FalconSlayers]

 

[Autofive]

View attachment 178645

That's great. Has any media outlet covered it yet?

 

[NutCracker]

Ah! Makes sense now.

But won't the appreciation of currency make exports less competitive? How did China manage?

Worker exploitation.. no labour union survives under CCP.

World has already burnt hands with China so we won't get same treatment as China received between 1990 to 2010.

 

[Enthusiast 007]

Let me all tell you.

It is because of Mamaji, he dont understand Business and Industries.

Last surge was seen in Industries was in 2007-2008 when Kailash Vijaywargiya was Commerce & Industry Minister.

He literally pulled TCS and Infosys into MP along with other Industries. But after his tenure the things come to dead halt.

But no progress in new industries in MP after that, it got stuck after that, no new major development.

Shivraj is not able to properly present the case of MP to the Businesses.

He dont understand Industries & importance of the same.

No active promotion or luring of Industries is seen to develop Industries & Trade. Fault lies squarely with Shivraj.

Didn't MP recently get investment from Volvo?

 

[Ugra Bhairav]

Didn't MP recently get investment from Volvo?

They are just expanding their already existing facility of EISHER Motors in Bhopal. This JV for EVs.

1500 Crores are peanuts.

 

[Suryavanshi]

View attachment 178645

Need more Indian investors in startup.