Indian Economy: News and Discussion

[hit&run]

How come no one is calling them out on it when its this obvious? The Germans for example, would love to point out that UK screwed its economy after Brexit.

Why would UK screw its economy by opting for Brexit?

This is a serious question, I will appreciate if anyone can answer it.

Regards.

 

[sorcerer]

Yes when UPA does the same welfare crap, it is bloated public spending for votes and bankrupting the exchequer but when Modi turd does it, it is a visionary plan pulled out of his ass to uplift poor people's livelihood.
t

Honestly, there is a change in the actual execution of the work being done by Congress and NDA..a.k.a MODI.

Talk to the people who work closely with the Govt initiatives..not a party worker or a BHAKTH as the Gandu Clan puts it....but an officer who is executing certain key projects and you will know how certain mechanisms are put in by the MODI Govt to fine-tune the spending very wisely and collecting feedback on the result achieved in real world.
OR
Atleast try to listen to the KEY MAN interviews(not minister..but higher officials) on youtube or elsewhere on the kind of administrative mechanisms the NDA Govt has put in.

Ps:There is a program called "Winds of change" on National Geographic..(thats a start)

Its better to do a bit of homework before we criticize any Govt, be it congress or NDA.

The problem with Congress is not that congress as a party is bad...but their methods are unsolvable, because over the years they cultivated a system which consumed them.Its not that congress doesnt have patriots...its just that the traitors overpower the patriots in congress...Thats the system where it went wrong vitally.

With NDA, they are new entrants and they are having their full second spell...and they are trying to put in a system so that they can STAY On top and away from the stereotyping with congress..So that as a political party they can stay longer in power..simple common sense.

The thing is...over the years...and decades...we Indians are being LIED to..by political parties and coalition politicians giving false hopes and dreams..
BUT..
NDA Govt. is doing their bit and somehow, we Indians cannot digest the fact that some things are "happening". Looks like we just cant accept certain changes and realities.may be we are scared of a deviation from a normal routine which congress has been giving us
looks like we prefer to be lied to...sure thing that media is banking their TRP rating on such too..
Cuz..happy and happening dont sell..worry sells....thats my take.


As for me at a personal level...Imma gonna take the economic opportunities presented to me now and grow wings stronger before the fools get together and make a dunce their leader.

 

[ezsasa]

We don't need to put down Bengalis and Tamils because of an idiot's post.

No negativity here!!!

It’s fun observing small nuances on how we approach things depending on regions we belong to.

 

[sorcerer]

Reliance investing in India's first carbon fibre unit


Reliance Industries is investing in setting up India's first carbon fibre manufacturing unit to cater to aerospace and defence needs, the company said in its annual report.

The owner of world's largest oil refining complex will also make low-cost and high-volume composite products like modular toilets, homes and composites for windmill blades and rotor blades.



Without giving investment details, Reliance in its latest annual report said it has developed capabilities for 3D printing of wide-range of plastic and metals products.

Reliance is developing new business verticals in the petrochemicals business to capture Rs 30,000 crore composites market and has plans to produce graphene, enhanced plastics and elastomers, fibre reinforced composites which can replace steel.

A composite is an engineered material made from two or more ingredients with significantly differing properties, either physical or chemical. One of the most common forms of composite in use today is carbon fibre. It is made by heating lengths of rayon, pitch or other types of fibre to extremely high temperatures in an oxygen-deprived oven. The resultant rayon strands are spun into a thread, then woven into sheets and mixed with hardening resins to form the various components needed.

"RIL is investing in India's first and largest carbon fibre production line with its own technology to cater to India's aerospace and defence needs as well as the specialty industrial applications," it said.

It had last year acquired the assets of Kemrock Industries to enter the composites business and is focusing on thermoset composites such as glass and carbon Fibre-Reinforced Polymers (FRPs).

"The ability to deliver exceptional strength (similar to or better than steel) at a significantly lower weight is a critical performance attribute of FRPs. Additionally, FRPs can withstand harsh weather, have a long life with minimal maintenance, are corrosion resistant and can be moulded into any shape," it said.

Composites are used in a wide range of markets and applications: industrial, railways, renewable energy, defence and aerospace.

"RIL expects the newly launched Reliance Composites Solutions (RCS) business to be the No. 1 composites player in India," the company said.

Stating that it will focus on design and specifications driven markets and applications that have the potential to grant better returns, it said the focus areas include wind mill blades and parts for railways and metros, which have exacting standards of performance and safety (especially fire retardant).

Also on the radar are carbon wraps to rehabilitate/refurbish India's old infrastructure bridges, buildings (for improved seismic performance) and pipes.

"RCS will design and administer low-cost and high-volume products such as modular toilets and homes to support the Swachh Bharat Mission, disaster relief measures and Housing for All programmes initiated by the Indian Government," the annual report said.

RIL said industrial 3D printing (especially with metal) is reaching an inflection point and the company has developed the capabilities to design and print a wide range of products using 3D printing technology in both plastic and metal from prototypes to functional parts.


https://www.business-standard.com/a...s-first-carbon-fibre-unit-118061501108_1.html

 

[ezsasa]

Reliance investing in India's first carbon fibre unit


Reliance Industries is investing in setting up India's first carbon fibre manufacturing unit to cater to aerospace and defence needs, the company said in its annual report.

The owner of world's largest oil refining complex will also make low-cost and high-volume composite products like modular toilets, homes and composites for windmill blades and rotor blades.



Without giving investment details, Reliance in its latest annual report said it has developed capabilities for 3D printing of wide-range of plastic and metals products.

Reliance is developing new business verticals in the petrochemicals business to capture Rs 30,000 crore composites market and has plans to produce graphene, enhanced plastics and elastomers, fibre reinforced composites which can replace steel.

A composite is an engineered material made from two or more ingredients with significantly differing properties, either physical or chemical. One of the most common forms of composite in use today is carbon fibre. It is made by heating lengths of rayon, pitch or other types of fibre to extremely high temperatures in an oxygen-deprived oven. The resultant rayon strands are spun into a thread, then woven into sheets and mixed with hardening resins to form the various components needed.

"RIL is investing in India's first and largest carbon fibre production line with its own technology to cater to India's aerospace and defence needs as well as the specialty industrial applications," it said.

It had last year acquired the assets of Kemrock Industries to enter the composites business and is focusing on thermoset composites such as glass and carbon Fibre-Reinforced Polymers (FRPs).

"The ability to deliver exceptional strength (similar to or better than steel) at a significantly lower weight is a critical performance attribute of FRPs. Additionally, FRPs can withstand harsh weather, have a long life with minimal maintenance, are corrosion resistant and can be moulded into any shape," it said.

Composites are used in a wide range of markets and applications: industrial, railways, renewable energy, defence and aerospace.

"RIL expects the newly launched Reliance Composites Solutions (RCS) business to be the No. 1 composites player in India," the company said.

Stating that it will focus on design and specifications driven markets and applications that have the potential to grant better returns, it said the focus areas include wind mill blades and parts for railways and metros, which have exacting standards of performance and safety (especially fire retardant).

Also on the radar are carbon wraps to rehabilitate/refurbish India's old infrastructure bridges, buildings (for improved seismic performance) and pipes.

"RCS will design and administer low-cost and high-volume products such as modular toilets and homes to support the Swachh Bharat Mission, disaster relief measures and Housing for All programmes initiated by the Indian Government," the annual report said.

RIL said industrial 3D printing (especially with metal) is reaching an inflection point and the company has developed the capabilities to design and print a wide range of products using 3D printing technology in both plastic and metal from prototypes to functional parts.


https://www.business-standard.com/a...s-first-carbon-fibre-unit-118061501108_1.html

Fantastic news....................

Hopefully RIL will also create Kevlar(equivalent) production unit.

 

[nongaddarliberal]

Why would UK screw its economy by opting for Brexit?

This is a serious question, I will appreciate if anyone can answer it.

Regards.

It's more to do with long term economics rather than short or medium term. The EU overall is a sinking ship with debt ridden and underperforming mediterranean economies and highly advanced but export driven northern economies. Germany's GDP for example is 50% exports. Because of the single currency, poorer EU nations cannot export cheaply by having a devalued currency. This whole model is unsustainable. The losers of this system, such as greece, italy and spain will eventually leave the EU for the sake of saving their economies from surplus german production. In addition to this, the immigration policy of the EU, that is flooding the continent with muslim migrants is sheer madness. This can only lead to civil wars within these countries in the future. Though the UK has its own immigration policy, it will still be obliged to let muslim EU citizens immigrate if it stayed part of the EU. By cutting the cord with the EU, the UK is freeing itself of these inherent risks.

 

[Prashant12]

India's exports hit six-month high of $28.86 billion in May

Oil imports were up 49.46 percent to USD 11.5 billion on back of surge in international crude prices.

India's exports grew 20.18 percent to USD 28.86 billion in May -- the highest in six months, even though the trade deficit widened to a four month high of USD 14.62 billion. Imports too rose by 14.85 percent to USD 43.48 billion during the month, according to the data released by the commerce ministry.

The previous high growth of exports was recorded at 30.55 percent in November 2017.

Similarly, in January this year, the trade deficit was at USD 16.28 billion.


Exporting sectors, which helped to push the shipments in May include petroleum products, chemicals, pharmaceuticals and engineering.

However, exports of cashew, iron ore, textiles, gems and jewellery, handicrafts and carpet registered negative growth.

Gold imports during the month under review dipped by 29.85 percent to USD 3.48 billion as against USD 4.96 billion in the same period last year.

During April-May 2018-19, exports grew by 12.58 percent to USD 54.77 billion, while imports were up by 9.72 percent to USD 83.11 billion. Trade deficit widened to USD 28.34 billion in the two months of this fiscal as compared to USD 27.09 billion during the same period previous fiscal.

Commerce and Industry Minister Suresh Prabhu said that in May, exports grew by 20.18 percent.

Also, in 2017-18, exports of goods and services put together rose by 12.78 percent, which is highest in about 6-7 years.


"Exports have increased significantly in 2017-18 despite the fact that we are facing lot of challenges particularly this year," the minister told reporters here.

He said that issues such as delay in GST refund is more or less sorted out and "2018-19 fiscal should be better than 2017-18".

Payment of GST will help exporters deal with the issue of working capital, he added.

Prabhu said the ministry is working with all the concerned ministries to promote shipments.

"We are working on a strategy to involve all the concerned ministries. They have decided to fix targets for themselves for export," he said, adding that in May exports have increased in volume terms.

When asked about the credit issues being faced by the gems and jewellery sector after Nirav Modi bank fraud, he said: "bank finance is one of the challenges for this sector so we have raised this issue with the finance ministry. We told (them) that they should take export as a priority sector lending because that will address many of the issues".

Oil imports were up 49.46 percent to USD 11.5 billion on back of surge in international crude prices.

Meanwhile, an official statement said that the Department of Commerce will soon open 10 offices in Indian missions abroad for accelerating export promotion activities.

This was informed by the minister during review of the sectoral export promotion plans prepared by ministries and departments here today.

A conference of heads of Indian missions has been scheduled in June end, in which trade promotion measures will be discussed.

The minister stressed on the branding of Indian products and export credit as important focus areas for export promotion.

He also suggested that each ministry and department should set targets for increasing exports of their product and product groups in 2018-2019.

Commerce Minister emphasised that exports are a national priority and an integrated approach is required to promote exports as a joint mission.

Director General Foreign Trade Alok Chaturvedi informed that the department is preparing a ‘100 Billion Additional Export Strategy' which will be released shortly.


https://www.moneycontrol.com/news/b...nth-high-of-28-86-billion-in-may-2596271.html

 

[Prashant12]

Forex reserve up by $0.88 billion at $413 billion

India's foreign exchange reserves increased by $879.5 million to $413.109 billion in the week to June 8, helped by rise in foreign currency assets, the Reserve Bank data showed today.

In the previous week, the reserves had declined by $593.7 million to $412.230 billion.

The reserves had touched a record high of $426.028 billion in the week to April 13, 2018. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $875.4 million to $388.391 billion.

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

Gold reserves remained unchanged at $21.189 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) rose by $1.8 million to $1.499 billion.

The country's reserve position with the IMF also increased by $2.3 million to $2.029 billion, the apex bank said.

https://economictimes.indiatimes.co...llion-at-413-billion/articleshow/64606071.cms

 

[hit&run]

It's more to do with long term economics rather than short or medium term. The EU overall is a sinking ship with debt ridden and underperforming mediterranean economies and highly advanced but export driven northern economies. Germany's GDP for example is 50% exports. Because of the single currency, poorer EU nations cannot export cheaply by having a devalued currency. This whole model is unsustainable. The losers of this system, such as greece, italy and spain will eventually leave the EU for the sake of saving their economies from surplus german production. In addition to this, the immigration policy of the EU, that is flooding the continent with muslim migrants is sheer madness. This can only lead to civil wars within these countries in the future. Though the UK has its own immigration policy, it will still be obliged to let muslim EU citizens immigrate if it stayed part of the EU. By cutting the cord with the EU, the UK is freeing itself of these inherent risks.

Brexit was a well-scripted process designed to happen with the opponents and the proponents fixed for the same cause.

The elephant in the room is 'Population that is not ready to assimilate'. Their experiment with multiculturalism has failed. The projections what is coming next is not hard to explain, a simple graph can suffice.

Indians, on the other hand, are not ready to see this in their own Civilizational context. I remember a thread posted by @Sakal Gharelu Ustad on this issue.

In recent times on 2-3 instances, I have heard from different intellectuals that British value their grand narrative as mean for Survival.

The Survival people fail to understand is nothing but living in extreme austerity and Isolation.

With Brexit, British have shown their resolve for the same. Probably Brexit is the first step and many more are yet to come. If I have seen this race they are still good enough or fitter to lead a simple life or live off the land and I am talking about Urbanized educated population.

I have started thinking now if there will be the civil war in India and take over, will we be able to live and contained just for our Civilizational Survival or will succumb to external pressures and ditch it to be fragment further?

 

[nongaddarliberal]

Brexit was a well-scripted process designed to happen with the opponents and the proponents fixed for the same cause.

The elephant in the room is 'Population that is not ready to assimilate'. Their experiment with multiculturalism has failed. The projections what is coming next is not hard to explain, a simple graph can suffice.

Indians, on the other hand, are not ready to see this in their own Civilizational context. I remember a thread posted by @Sakal Gharelu Ustad on this issue.

In recent times on 2-3 instances, I have heard from different intellectuals that British value their grand narrative as mean for Survival.

The Survival people fail to understand is nothing but living in extreme austerity and Isolation.

With Brexit, British have shown their resolve for the same. Probably Brexit is the first step and many more are yet to come. If I have seen this race they are still good enough or fitter to lead a simple life or live off the land and I am talking about Urbanized educated population.

I have started thinking now if there will be the civil war in India and take over, will we be able to live and contained just for our Civilizational Survival or will succumb to external pressures and ditch it to be fragment further?

Yes, I do agree that British people, and native Europeans in general have a surprising quality of being able to live off the land with very limited resources. The image of a spoilt westerner who needs all luxuries in life is false. When the chips are down, they are very good at surviving with makeshift housing and growing their own food. Living off nature is a skill instilled in them since childhood. This is more true with Russians and Scandinavians. That being said, the British won't have to do so. They already have sufficient scientific knowledge and a disciplined population which can sustain an industrialized society on its own. When the European Union will be breathing its last painful breaths, the UK will be an island of stability in western Europe. But they still need to take care of the very serious muslim problem. Unfortunately, I think many Hindus will be caught in the middle when the Christian backlash starts.

 

[indiatester]

Interesting graphic depicting number of Unicorn Startups by different universities

IIT's (all together) is at number 4.

 

[hit&run]

Interesting graphic depicting number of Unicorn Startups by different universities

IIT's (all together) is at number 4.

And on shoestring budget.

...................................................

 

[Jumbo]

http://www.thehindu.com/news/nation...on-economy-by-2025-kovind/article24190868.ece

India working towards becoming $ 5 trillion economy by 2025: Kovind

PTI

Athens, June 18, 2018 11:46 IST
Updated: June 19, 2018 15:36 IST

India is striving to become a $ 5 trillion economy and the world’s third largest consumer market by 2025, President Ram Nath Kovind said on Sunday as he highlighted investment opportunities in the country...…...

 

[Jumbo]

^^
If I am not wrong, I saw these words on DFI before also.

Just after Modi become PM, some member said it on DFI, that India can become a $5 trillion economy.

 

[Jumbo]

Honestly, there is a change in the actual execution of the work being done by Congress and NDA..a.k.a MODI.

Talk to the people who work closely with the Govt initiatives..not a party worker or a BHAKTH as the Gandu Clan puts it....but an officer who is executing certain key projects and you will know how certain mechanisms are put in by the MODI Govt to fine-tune the spending very wisely and collecting feedback on the result achieved in real world.
OR
Atleast try to listen to the KEY MAN interviews(not minister..but higher officials) on youtube or elsewhere on the kind of administrative mechanisms the NDA Govt has put in.

Ps:There is a program called "Winds of change" on National Geographic..(thats a start)

Its better to do a bit of homework before we criticize any Govt, be it congress or NDA.

The problem with Congress is not that congress as a party is bad...but their methods are unsolvable, because over the years they cultivated a system which consumed them.Its not that congress doesnt have patriots...its just that the traitors overpower the patriots in congress...Thats the system where it went wrong vitally.

With NDA, they are new entrants and they are having their full second spell...and they are trying to put in a system so that they can STAY On top and away from the stereotyping with congress..So that as a political party they can stay longer in power..simple common sense.

The thing is...over the years...and decades...we Indians are being LIED to..by political parties and coalition politicians giving false hopes and dreams..
BUT..
NDA Govt. is doing their bit and somehow, we Indians cannot digest the fact that some things are "happening". Looks like we just cant accept certain changes and realities.may be we are scared of a deviation from a normal routine which congress has been giving us
looks like we prefer to be lied to...sure thing that media is banking their TRP rating on such too..
Cuz..happy and happening dont sell..worry sells....thats my take.


As for me at a personal level...Imma gonna take the economic opportunities presented to me now and grow wings stronger before the fools get together and make a dunce their leader.

PM Modi is bit better for India .

What say.....!

 

[Yggdrasil]

But they still need to take care of the very serious muslim problem. Unfortunately, I think many Hindus will be caught in the middle when the Christian backlash starts.

Not necessarily. If we play our cards right, the best time to clean up the jihadi cesspool in India will be exactly when the Christian backlash starts. Remember, they're supporting Naxalites and Jihadis in our country because they're still under the spell of "human rights" and "multiculturalism". Once that mask wears off (and it will, Europe will not go down without a fight), they'll have more than enough on their hands to pontificate effectively to us. NYT and WaPo etc will have their pages full of London, Paris, Brussels, Berlin, Stockholm.

That's when India says goobye to Hurriyat, Zakir Naik clones, Muslim League, AIMIM, PFI, SIMI, Darbhanga money printers, etc.

 

[IndiaRising]

So you are one of the two.. which one is it?

Ignoring rest of your comments.....

he is mad indian in another avatar

 

[nongaddarliberal]

Not necessarily. If we play our cards right, the best time to clean up the jihadi cesspool in India will be exactly when the Christian backlash starts. Remember, they're supporting Naxalites and Jihadis in our country because they're still under the spell of "human rights" and "multiculturalism". Once that mask wears off (and it will, Europe will not go down without a fight), they'll have more than enough on their hands to pontificate effectively to us. NYT and WaPo etc will have their pages full of London, Paris, Brussels, Berlin, Stockholm.

That's when India says goobye to Hurriyat, Zakir Naik clones, Muslim League, AIMIM, PFI, SIMI, Darbhanga money printers, etc.

I was talking about the Hindus living in the UK. A European christian backlash will not only be about religion, but also race. And no matter how well behaved the Hindus are, they will not be seen kindly when the whites will want to start changing demographics. Hopefully by that time India will be developed enough for them to comfortably come back.

 

[Jumbo]

PM Modi is bit better for India .

What say.....!

Let me correct my own post...…..

PM Modi is best right now for India.

 

[indiatester]

Let me correct my own post...…..

PM Modi is best right now for India.

Sure sure... but this is the economy thread. There is a Modi thread to discuss about him if you want.