Indian Economy: News and Discussion

Haldilal

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Ya'll Nibbiars The report states that in the five fiscals through 2019, bicycle sales saw a modest compound annual growth rate of 5 per cent. In fiscal 2020, it contracted 22 per cent as government orders dropped. Moreover, Atlas Cycles, one of the largest bicycle manufacturers closed shop. But things took a turn for the better in the last fiscal.

Profitability will be supported by overall sales growth this fiscal for two reasons:

1. An improved mix of premium and kids segments will ensure high profitability. Moreover, their market share has increased 1,000 bps to over 50 per cent now.

2. Demand for premium and kids segments is not price elastic. Manufacturers can pass on increased rates of raw materials to consumers.
 

Haldilal

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Ya'll Nibbiars the Atlas Cycles closed down due to the FTA with the Bangladesh and Srilanka where is that Mongolian Nationalist. Talking about nonsense about FTA with the countries with protection policies.

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Haldilal

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Ya'll Nibbiars Girish Wagh has been appointed as the Executive Director to the Board of Tata Motors Ltd starting 1st July, 2021.

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Haldilal

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Ya'll Nibbiars Typewriter's. Yes once we used to manufacture type writer. But never made any plans for computing technology further. Focused on the Software not on the Hardware's and now facing the challenges to take off the electronics Industry's.

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Haldilal

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Godrej is slowly becoming ded, no innovation.
Ya'll Nibbiars

The Electronics and appliances manufacturer, Godrej has claimed that the indigenisation ratio of products used in appliances such as air conditioners will go up by 75% in the next three to five years. The claimed that they plan to achieve this indigenisation in view of the production-linked incentive PLI scheme by the government for air-conditioners, to encourage the brands to invest and create a component ecosystem. Godrej Appliances is also aiming at increasing the value in sales by around 15%, in comparison to the year 2019. The company expects pent-up demand and new work from home culture to aid sales this year.

Godrej Appliances Business expect around 15-20% growth (in value terms) in the AC market this year in comparison to 2019. In terms of prices, buyers might experience a further uptick in costs of products. Godrej Appliances had recently announced price hike which was attributed to inflationary pressure on the raw material inputs. The company claims they might have to take up another hike if the costs continued to grow. And it may have an impact of around 15 per cent on the sale but it could be realised once the market opens. The Godrej Appliance has around 5-6% share of the residential AC market; while in the washing machine, it has around 10%; and 15% in refrigerators.
 

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India Inc to discover and extract mineral reserves 6,000 meter beneath the ocean

In April, a gaggle of scientists from Chennai boarded an ice-strengthened vessel to check an indigenously developed mining machine, Varaha-1, within the Central Indian Ocean. It was a week-long journey off the Tamil Nadu coast earlier than reaching the vacation spot from the place they launched the machine through the use of a deep-sea umbilical cable. On the seabed, at a depth of 5,270 m, the mining machine efficiently crawled, enterprise the specified locomotion trials for 3 hours earlier than being retrieved on deck.It was a second of nice satisfaction for the 2 dozen scientists, engineers and technicians on board, senior scientist and director of National Institute of Ocean Technology (NIOT), Dr GA Ramadass, tells ET. Their jubilant temper was captured in a photograph shot at evening mode on April 16, with the yellow Varaha-1 within the backdrop.Varaha-1’s journey is a part of India’s gearing as much as hunt for treasures on ocean beds. It can be considering participating the non-public sector to make tools, perform exploration and even enterprise into business exploitation as and when will probably be permitted.Backed by the Rs 4,077 crore Deep Ocean Mission, authorised by the Union cupboard final week and by which mining is a serious element, India is all set to develop an built-in mining system by 2024-25. The blueprint contains creating a manned submersible to hold three individuals (two scientists and one pilot) to a depth of 6,000 m in addition to deploying a number of specifically designed mining machines equivalent to Varaha-1 to gather treasured metals from the seabed and pump these to the mothership, a transfer which will rewrite the very script of India’s vitality safety. 83876250“Very soon we will involve India’s private sector in deep ocean mining,” says Dr Madhavan Nair Rajeevan, Union secretary, Ministry of Earth Sciences, in a phone interview with ET. “Industry will play a critical role. Private companies will provide ships, build new technology, make electronic and mechanical components, and will also get engaged in exploration.At a later stage, when commercial exploitation is permitted, the private sector will likely partner the government in mining, too,” he says, including that the precise modality of the non-public partnership remains to be being labored out and will likely be introduced quickly.India is eying some 380 million tonnes of polymetallic nodules containing nickel, copper, cobalt and manganese which can be discovered on seabed or simply beneath the seabed within the Central Indian Ocean Basin (CIOB) the place India has unique rights over 75,000 sq km as allotted by the International Seabed Authority (ISA), a UN physique, again in 2002.Various estimates accessed by the federal government put the whole worth of the minerals otherwise, in a variety of $45 billion to $185 billion, though the Ministry of Earth Sciences has made public the common of these numbers, rounded at $110 billion, in its official communications. 83876275“As electric vehicles are the future of the world, imagine the importance of metals such as copper, nickel or cobalt. We all know China is controlling those items,” says secretary Rajeevan.It is estimated that CIOB accommodates some 4.7 million tonnes (MT) of nickel, 4.29 MT of copper, 0.55 MT of cobalt and 92.59 MT of manganese, along with enormous iron ore deposits, in accordance with GoI knowledge.That India is a web importer of minerals equivalent to copper, nickel or manganese reiterates the urgency of innovating cost-effective options to extract these from ocean beds. For instance, India in 2020 imported 5.Four lakh tonnes of copper (copper ores and concentrates), value $897 million, in accordance with Trade Map knowledge. 83876299Shailesh Nayak, former Union secretary within the Ministry of Earth Sciences and current director of Bengaluru-based National Institute of Advanced Studies, says cobalt and nickel are extremely vital strategically in in the present day’s electronics age. “We should, however, think of processing and packaging those precious metals in an innovative manner on the mothership itself rather than carrying those in raw form some 3,000 km to the coast and then transport those again to a processing unit,” says Nayak, himself a scientist.But there are a number of hurdles earlier than India might extract the reserve minerals from ocean beds. First, ISA has up to now given its permission just for exploration, not exploitation.Rajeevan doesn’t, nonetheless, contemplate it a hurdle, claiming that he expects the business exploitation code — a piece in progress at ISA—to be printed in two-three years. So, what India must wrap up by then is to get itself geared up with an economically viable technological mannequin to pump out these metals, a much-needed shot within the arm for India’s vitality safety in addition to financial well-being.The second problem is methods to extract minerals in a cheap method. Countries which have joined the race for deep-sea mining embody China, France, Germany, Japan, South Korea, Russia in addition to small islands such because the Cook Islands and Kiribati, however nobody will probably share the know-how they’ve invented.“Feasibility of commercial deep-sea mining will always be location-specific, depending on how valuable the mineral deposit is, and the technological and economic feasibility of its extraction. Depending on survey results which may indicate potential areas, we have to undertake exploration using appropriate technologies and also develop extraction technologies in the case of promising finds,” says former Union mining secretary S Vijay Kumar, including that personal sector ought to be concerned in manufacturing mining tools in addition to in constructing ships for geo-scientific surveys.At current, two heavy-engineering corporations, BHEL and L&T, are engaged in some minor work on the mission, particulars of which aren’t accessible.The reserve is undoubtedly profitable, however challenges to deliver the metals up are additionally humongous. They are embedded in polymetallic nodules, which appear like potatoes, the common measurement of 1 being about 10 cm, say scientists. But lifting these potatoes up is not any cakewalk. Ramadass of NIOT lists some hurdles — distant location, brutal excessive stress (500 instances greater than ambient atmospheric stress on floor), softer sea mattress, low visibility and water temperature of simply 3-Four diploma C. These minerals can be found 13 to 15 levels south of the equator, which means a distance of over per week by ship from India’s southernmost tip in Tamil Nadu.“Also, hydrothermal sulphides (with several metals in them) are available further away at some 26 degrees south of the equator in the Southern Indian Ocean. It’s some 5,000 km away from Indian coast and it takes a fortnight for a ship to reach there,” Ramadass provides.In addition to mining, the Deep Ocean Mission — the primary section of which is being applied in 2021-24 at an estimated value of `2,823 crore — will embody creation of ocean local weather change advisory providers, exploration of hydrothermal sulphides in midoceanic ridges and evolving human capability and enterprise for blue commerce and blue manufacturing.The price range earmarked for only one element within the mission — deep-sea mining and sending a manned submersible — is Rs 1,520 crore, out of which Rs 1,077 crore will likely be spent within the first three years. No one can complain of paucity of funds to experiment with new know-how and extraction strategies, not less than for now.There is a darker facet to your complete train: environmental hazards. After all, as soon as the mining machines begin whirring at a depth of 6,000 m, the ecology is certain to be disrupted. Nayak and a number of other different scientists say there could possibly be giant animals (fauna) inhabiting deep seabeds. “Humankind does not know much about those animals so far. So, we have to find a middle path between fostering a blue economy and keeping our environment alive,” he says.In reality, pictures to be captured by robots gained’t be adequate to know that terra incognita. At 6,000 m beneath, it’s pitch darkish. Secretary Rajeevan provides, “We will send two such scientists who understand the marine flora and fauna the best.” Maybe, the mission could have a by-product: unravelling some thriller animals deep down the Indian Ocean.
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