Indian Economy: News and Discussion

RoaringTigerHiddenDragon

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For those who say Indian coties should be like china, lol.
frankly, I don’t see much problems with it. Do we want a city Mumbai with more than half the land area as slums? No we don’t want that. in fact China’s urban villages are having more facilities than these abysmal slums of Mumbai , which look like a horror show straight out of an apocalypse movie. Whatever Chyna’s problems are, they do march ahead with a single minded intent, which is how countries like South Korea Japan and Singapore developed. Let’s take the domain of space as an example. China has been able to undertake space launches including putting a rover on Mars in a pandemic stricken year. Meanwhile ISRO has gone to sleep and has not launched anything worthwhile in the last two years. That is not going to give people a lot of confidence in ISRO’s capabilities. Even existing programs like the Gagan positioning system chip has not been commercialized. Frankly, I am not happy with the way we handled the China virus situation. Slowing down of infrastructure projects and industrial projects and advanced technology projects should not be happening. There should’ve been an all party consensus that these types of projects must go on for a developing country like ours, no matter the circumstance. I feel that PM Modi has not been able to forge or force this consensus and double down on growth and competitiveness. The world is super competitive. And we need to be very focused on how to compete even in very trying circumstances. Until we become single minded just like these east Asian countries we cannot just take consolation from such videos. There is a reason Vietnam exports as much is India these days. They found a way to take advantage of mistrust in China’s supply chains, by building their infrastructure rapidly.
today, the US does not mention the word QUAD anymore. China just operationalized a 1000 MW nuclear reactor in Karachi and none of us seem to be bothered by it. If we are going to be this laid-back about our country’s growth, then we are going to be perceived as weak, unreliable, and not worth partnering with. We have gone from a vaccine exporting country to having to rely on the US for vaccine imports. Though no one is pointing it out openly, we already see that countries in our neighborhood are starting to use Chinese and Russian vaccines, and that puts us in an unreliable situation. We cannot deny that we have lost some face in this pandemic management. And we need to get out of this with a lot of hard work and a lot of single minded intent. All projects must be completed in half the time they would normally take. Use technology,labor,whatever to get it all done and show the world that India means business.
 

Bhumihar

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Industrial machinery ,compressor , filters , engines , generator , motors ??
U see mate till 1800s next to no modem industry existed across the globe.
Food, cloth, Jwellery, handcrafts was the main Industry if u could call it one and India excelled in all these.
India kept up with the world at this stage.





Then came the invention of Steam engine in the beginning of 1800s, hand made goods couldn't compete with Europeans goods and India was already enslaved by British. The British took raw material from here and made goods in Europe sold it to Other nation's as well as back in India at exhorbitant prices. India still mainly dealt with agri product's and raw Material.
At the end of 1800s there was a mining boom we couldn't do anything here because we were under the British our Minerals got exploited.
In the beginning of 1900 Steel Industries began to pop up and electricity oriented industries as well. Inventions of Railway made transportation easier as well.
The world war 1 saw development of Arms Industry and India was in the race too thanks to British.
Between 1900 to 1950 many new industries were created.
The arms industry
Cement Industry
The Aeronautical industry
Steel Industries
Copper Industries.
Automobile
Plastic.
Glass.


After 1950 begins our story.
What we had.
Ordnance factory which got wrekt after socialism crept in in the 1970s thanks to KGB and it's efforts.
Agri which took off thanks to green revolution.
Steel industries was existing thanks to effort of Tata.
Automobile industry was non existent whatever Little was there was thanks to British.


Where we fucked up.
>Socialism.
>Hostility against Private player's
>Unionbazi.
>The Civil Services.
>Incompetent politians withouth vision.
>Reservation.


In the late 1970s transistor boom took place Radios and TVs became more common, Japan excelled at this and made TVs for the entrie world.
In the 1980s Chinese caught up with it too result after Japanese economic collapse China became the manufacturing hub.


Our PSU were decent ones, new things are decent. Late 1970s KGB organised unionbazi in the PSU which were most visible during liberalisation of the economy PSU had become fully disfunctional than.
The employees in PSU did work of 10 rs and demanded 20 rs.

The Civil Services are smoking pile of shit no matter how u look at it. The iron frame is rotten since inception. It was a British made Structure and it remained British.
Sardar Patel was one of the many jokers who praised them.
IAS, IPS, BDO, SDO, CO, IRS, IRS, SSC are all joke and a employment scheme for the filthy unwashed masses.

No matter how much few eminent intellectuals on this forum want to deep throat UPSC it is the truth that there has never been a more heap of shit administration than this.

If India is in Ruins than next to politicians they are the biggest culprit.

I spit on UPSC fuck dem.


Politicians are the biggest factor I don't need to explain this.

As said earlier Indian gov had little to no hand in India's IT boom it was simply the product of situation.

It success is Thanks to little to no involvement of Gov and Civil Services.
 

Haldilal

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Nothing much really we are good at assembling stuff for local consumption that's it. Notable sectors Pharma, Automobiles, Jwellery, Petrochemicals.
Industrial machinery ,compressor , filters , engines , generator , motors ??
Ya'll Nibbiars in the Mid 1990's BPL was a 4,500 crores 1.5 billion dollars, Onida was a 3,000 Crores 1 billion dollar's, IFB was 2,100 crores 700 million dollars and the Videocon was the 7,500 crore 2.5 billion dollars firm's until the Foreign OEM's destroyed them. And we destroyed our own industries. When the PV Narshima Rao given the foreign Firm's to import in India it's created other but destruction of the Indian Electronics Industry's.
 
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HitmanBlood

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The Civil Services are smoking pile of shit no matter how u look at it. The iron frame is rotten since inception. It was a British made Structure and it remained British.
Sardar Patel was one of the many jokers who praised them.
IAS, IPS, BDO, SDO, CO, IRS, IRS, SSC are all joke and a employment scheme for the filthy unwashed masses.

No matter how much few eminent intellectuals on this forum want to deep throat UPSC it is the truth that there has never been a more heap of shit administration than this.

If India is in Ruins than next to politicians they are the biggest culprit.

I spit on UPSC fuck dem.
The qualification for being IAS, IPS, IFS etc. Is not highest education + experience in relevant field. No. It is simple general knowledge test and some BS interview. Anyone from any field can join. An Arts or social science graduate can crack UPSC and become IAS, afterwards he/she can get appointed to run a major scientific institute. That Arts guy now gives orders to real scientists. While talented people with years of experience are not even qualified because of nonsensical age limits and stupid GK exams which has nothing to do with job profile.

Losers who waste years being unemployed and reading newspapers are rewarded with highest position in our country's bureaucracy. Isn't this sad?
 

Haldilal

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The qualification for being IAS, IPS, IFS etc. Is not highest education + experience in relevant field. No. It is simple general knowledge test and some BS interview. Anyone from any field can join. An Arts or social science graduate can crack UPSC and become IAS, afterwards he/she can get appointed to run a major scientific institute. That Arts guy now gives orders to real scientists. While talented people with years of experience are not even qualified because of nonsensical age limits and stupid GK exams which has nothing to do with job profile.

Losers who waste years being unemployed and reading newspapers are rewarded with highest position in our country's bureaucracy. Isn't this sad?
Ya'll Nibbiars

NELCO had practice of paying monthly salary advance upto Rs.100 to workers, provided they applied for it before 20th of the month. Advanced was paid on 20th of month at payroll office.
It was 20th of June, Iyer and Kersi Mehta from payroll were disbursing the amount. Chitamani Chitnis needed money to pay for his sister’s medical expenses. Being union leader he never bothered to fill form. Last month payroll department had made exceptions to meet his demands. But this time Iyer gathered courage and refused to pay as he did not put the requisition for advance before 20th, the closing date. Chitnis did not like it at all. He started hurling abuses, jumped on table infront of Iyer and threatened them. Mehta stayed calm, he asked Chitnis to step down and leave payroll department.

It was era of militant unionism. Negotiating/Confronting with union leader like Datta Samant was badge of honour for Industrial Relations manager-something he invariably mentioned in his CV and job interview. Chitnis felt insulted, as militant union leader he was not going to tolerate insult from stooges of management. He wanted to teach them a lesson. He gathered other workers and they managed to get empty drums and spanners. They started beating drums with spanners and started shouting slogans against management. The Three days later, Chitnis was still in foul mood. He left his one room tenement to leave for factory. He lived in Goregaokar Chawl at Girgaon-area known for chawls, textile mills and militant unionism. He took local for Andheri, in local he met a co-worker Harpal Yadav, who told him that he came to know from reliable source, that Saxena was planning to conduct domestic enquiry against him. He had asked his assistant to collect necessary information from Iyer and Anjali to prepare charge sheet against him. Chitnis had poor attendance record- high absenteeism and habitual late coming. He had submitted highly inflated local travel bills to accounts department.

After having breakfast at canteen with his coterie, he started thinking about what to do next. Workers had again restored to slogan shouting, beating of empty drums with spanners, etc. He wanted to do something different. He suddenly remembered Kalya. Kalya was sleeping peacefully under shade of banyan tree; He should not have been in NELCO in first place, as he was not an employee- neither on rolls nor on contract. But thanks to security guard Suresh Shetty, a father figure to him, he could not only sneak inside factory but also enjoy sumptuous breakfast and lunch from its canteen. He was rudely woken up by Chitnis with a kick, before he could comprehend what was happening, one worker put a card board around his neck and another worker started writing something on card board. They started dragging reluctant Kalya towards shop floor of consumer products division. They lifted him and threw him in the trolley started pushing the trolley around shop floor, shouting slogans and hitting empty drums with spanners. Shetty didn’t have courage to stop them.

A gentleman was watching all this from first floor of Industrial systems division and saying something to manager standing next to him. Kalya could not hear what he was saying due to thick glass partition, but obviously he was not pleased with what was going on, esp. the way they were treating Kalya. Kalya could neither read what they had written nor understand what they were shouting. Had Kalya been human he would have known that workers had written “Diego” on card board. Diaego Fernandez was Works Manager for CPD, while gentleman was Ratan Tata, chairman of NELCO. Like Shetty he too was a dog lover.

Rakesh Malviya has joined NELCO few days back as junior officer in P & A department. He had found a good mentor in Saxsena, GM- Personnel and Admin. Saxena had given him a very important task of preparing charge sheet and hold domestic inquiry against Chitnis. He decided to meet Anjali over lunch to discuss about inflated bills submitted by Chitnis. Iyer had already submitted attendance record to Rakesh for charge sheet. Chitnis did not like canteen food; he banged the plate in plate collection area. While he was leaving, he saw Rakesh having lunch with Anjali Aras. This irritated Chitnis further; he went to their table and started slapping Rakesh. Anjali ran away from canteen. Slapping incident was the last straw. Ratan Tata called meeting of all senior managers and told them that he wanted to declare lockout, indiscipline was something that he could not tolerate. He then asked Saxena to communicate Labour Commissioner about lockout.

Saxena prepared necessary papers and asked Iyer to go to Bombay House to get them signed by Ratan Tata. That day it was raining heavily and Fort area was almost waist deep in water. Iyer somehow made it and reached Ratan Tata’s office in Bombay House. Ratan Tata came out of his office to meet him. Seeing pitiable condition of Iyer, he asked his secretary Sheila Shastri to get coffee for Iyer. Iyer’s respect for Chairman went up. Chairman cared so much for a junior employee like him. Lockout was declared and went on for nearly 7 months. Later, better sense prevailed. Feelers were sent to Ratan Tata for compromise. He agreed to re-start factory and take workers back (except 4 who were dismissed for indiscipline). Chitnis was happy, as he managed to save his skin. Last 7 months were tough for him- financially and emotionally. NELCO kind of job with decent salary, light workload, highly subsidised breakfast and lunch, free transport etc. was difficult to find elsewhere.

At the same time Ratan Tata decided to act tough. The workers and union leaders stopped paying membership fee to existing union and shifted membership to Mumbai Labour Union. Thus existing union became defunct and its place was taken by Mumbai Labour Union, which was headed by Sharad Rao. Ratan Tata started new factory at faraway place called Vashi and shifted 113 workers to new factory, among them were Chitnis and his coterie. Much to his chagrin, Iyer became defacto head of industrial relations in this new factory. Message was clear- indiscipline will no longer be tolerated.

This event was a crucible that changed Ratan Tata. Unfortunately significance of NELCO lockout has never been recognised. Decade later, Ratan Tata succeeded legendry JRD Tata.

From The NELCO's.
 
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FalconSlayers

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This Gaurav Gupta guy saying india cnt provide 24hrs electricity and water thats why nt possible for Fab companies to invest here .. He also said 2nd wave of covid exposed health system of india so cnt go there 😅 ... So people who think optics created in washington times , bbc , CNN by our DU JNU graduates dont have impact think again ..

by the way a good article on fab in india
His first point is right, we can provide electricity 24 hours, but 24 hours “pure water” supply is doubtful. Semiconductor fabs need purest water to use.
 

IndianSpiderman

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Remittances from overseas workers should be thanked,They contribute 70 to 100 billion dollars a year.😊
Then, by the same token, China also should've extended the same courtesy to non resident Chinese for building its reserves. Remittances have remained relatively stable for the past 10 years, while crude import bill have gone up substantially. And then we have examples from countries such as Pakistan, whose FOREX reserves are significantly smaller than the annual remittances they receive, putting paid to such oversimplification.

PS: Remittance inflow has never come close to touching $100 billion
 

Bhumihar

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One more thing that ails is the lack of land for Industries.
Unlike Murica we have a population denisty.
We have 4 times their population but 4 times lesser land than them.
But that's not the most of our problem South Korea has the same density as India but they have industrialised pretty well. Same is not the case for us getting land for factories is a herculean task here.
There are babus that authorises construction of factories. Environmental clearance for the factory if it deals with Toxic substances. Than theirs electricity it is hard to get electricity i.e. seperate transfomer for small factories.

Businesses becomes a ballgame for companies with over 100 crore turnover because the Babus in office can't do without bribery for evey little thing.
Than u have the politicians who run this show.
 

SKC

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Ya'll Nibbiars once we had a large electronic base capable of manufacturing most of the parts and also R & D but instead opening of the JV we opened all the FDI in the electronic and lost 30 years. The Videocon, Onida, BPL, NELCO, Zenith, Voltas sold their Consumer business to Electrolux and then rentered, Godrej Appliance was almost at the branckptcy in the 90's, IFB revived only in the 2000's, Mitashi, Wipro and many more.
Videocon and BPL screwed up their big market leads due to their inept CEOs.
Govt should have some scheme to keep such stupid CEO in check and remove and replace them when they threaten such big companies.
 

SKC

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Frankly education policy by Delhi govt. is positive.

But he has not worked on the infra front, which even previous congress govt. did
There is hardly any work done in Even the education sector by AAP in their two terms so far.

All the schools which are directly handled by APP Govt had shown much lower student scores and much higher drop out rates.

All they did was revamping 3-4 schools around delhi and each they print the pic of these 4 schools only in the newpapers to show how big a change they have done.

People left no stone unturned to undermine and abuse Smriti Irani during her term as education minister, but it was her dream project in which she constructed separate Toilets for Girls and boys in all govt controlled or funded schools and also she provided funds to all state govt to improve the conditions of the schools managed by them.
She also launched project to add science and computer labs in all govt school around the country.

Many of the schools in Delhi benefited from these schemes and APP volunteers just rushed to these schools and put their own flag over them claiming they improved them.

I myself remember one case around Mayur Vihar in Delhi where my cousin used to work. There was one govt school there which was cleaned and revamped by Central Govt. No APP party guy ever came near that school.
Once the school was completely revamped the next day APP party guys came and put a big banner with huge Kejri pic claiming that APP has managed to get this school modernized and say thanks to APP for this!
Utter shamelessness and nothing else from their behalf.
 

SKC

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SKC

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We had a beltek color TV in the 80s. It was a good TV, we still have it in working order at my grandfather's place.
Damn man! bringing Nostalgia!
We too upgraded from National BnW TV to Beltek flat screen 21inch color TV!
Beltek had complete manufacturing plant in Noida only. My dad used to supply some material to one company next to Beltek and that company was not clearing our payment for long time. Dad told them get us a TV instead from BelTek. They sent us a new TV next day in place of old pending payment.
That TV is still in our store!
 

SKC

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Ya'll Nibbiars

The NELCO was not an unsuccessful stint. It was very successful in terms of wiping out losses and making it a dividend paying company again. What went wrong was that the Tatas never adequately capitalised the company. So while it became positive, it could not scale up and grow. The were in radios, the company. And had only 2 per cent market share. Then it's took that to 20 per cent. The NELCO were second to Philips and just under Murphy, that was the big radio company at that time. And given the capital that never got and because we were made a part of Tata Power which didn’t have any real interest in consumer products, The TELCO went into industrial electronics. And it was a tremendous because it was a company under terrible financial stress.

It had losses equal to its capital and were literally pulling out every drop of water from the bucket. And never knew if it's would be able to meet the payrl requirements at the end of every month. Those 8 or 10 years in NELCO was what drew upon in later years. Yes, the general misconception was that NELCO was a failure but that failure was, if I can say so, the Tata Group’s failure. They did not see the importance of electronics or the need to take it further. They just wanted to get out of radios. The older directors like Nani Palkhivala and others like the. felt that the Group shouldn’t bother with textiles, and shouldn’t bother with NELCO and other smaller companies and should focus entirely on the major companies like Tata Steel, TELCO, Tata Chemicals. In the case of NELCO, And must say that's, The had it not been for the JRD Tata, the company would have been liquidated. He saw the future in electronics. He saw the future in air travel. He saw the future in computers, IT. Many of his colleagues did not. A good example is watches. If it was not for JRD, The Group would have not had a viable company like Titan. The NELCO can be called a company of lost opportunities. It concentrated on manufacturing when it needed a marketing foused's. It stuck to radios while others diversified. It got into a groove.

From the NELCO's Book's.
Indian Electronics Industries had grown quite healthy in 80s and 90s.
If you remember there quite a big no of Indian companies who specialized in manufacturing High end Speakers for all sort of Music Systems.
There were 3-4 companies from Karnataka and TN which made Turn tables and music system accessories and High quality Speakers.
These speakers used to be exported all over Europe and NA. but then globalization in 90s killed our internal companies and got dominated by Japanese and US companies.
You can still find these second hand speakers selling for huge amount of money over OLX and other market place.
 

SKC

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Micromax has improved somewhat , also bpl , ifb ,godrej , are getting back in game
Micromax started in early 90s as contract manufacturer for making TV for other big brands in India. Their core strength was making TVs and some other home electronics but they found broad success when they entered into Android market when no other Indian brand was there.
They should have kept their TV and electronics business up along with Phones.
Samsung is among the biggest phone manufacturer but the bulk of their profit comes from home electronics market only and not from phones.
 

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