Indian Economy: News and Discussion

another_armchair

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Ya'll Nibbiars PSU never ment to be only profitable but to employee more people and industrialization from the GOI. But it leads to the incompetence. And uneconomical activities, slow decisions making, lack of accountability.

And India never followed the Singapore's styled State Capitalisem's.
HEC Ranchi is another. It had enormous potential but workers would sabotage machinery so they would not have to work due to downtime. Aise log hain.

Tons of taxpayer money lined pockets of Babudom and Ministers while private sector was tossed into a whirlpool of rules and approvals.

There was union strike in Tata Steel Jamshedpur. The workers picked up a manager / supervisor and tossed him in the furnace. BC haddi bhi gal gayi hogi shayad. They were agitating outside the factory and started getting violent. That's when Army was called in, they opened indiscriminate fire, bodies were simply picked up in trucks, dumped in deep pits and covered with limesoda. As most of the agitators had come from outside, no accountability.

Indian's in jobs have this freeloading mentality. They don't want to work. Just sit, chit chat and go home. Productive manhours are too less and it will take a generational+attitudinal change to even catch up with East Asian workers, let alone get to the skill and productivity levels of Chinese/Japanese workers.

The one's who want to bring change get frustrated and leave the country.
 
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sauntheninja

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HEC Ranchi is another. It has enormous potential but workers would sabotage machinery so they would not have to work due to downtime. Aise log hain.

Tons of taxpayer money lined pockets of Babudom and Ministers while private sector was tossed into a whirlpool of rules and approvals.

There was union strike in Tata Steel Jamshedpur. The workers picked up a manager / supervisor and tossed him in the furnace. BC haddi bhi gal gayi hogi shayad. They were agitating outside the factory and started getting violent. That's when Army was called in, they opened indiscriminate fire, bodies were simply picked up in trucks, dumped in deep pits and covered with limesoda. As most of the agitators had come from outside, no accountability.

Indian's in jobs have this freeloading mentality. They don't want to work. Just sit, chit chat and go home. Productive manhours are too less and it will take a generational+attitudinal change to even catch up with East Asian workers, let alone get to the skill and productivity levels of Chinese/Japanese workers.

The one's who want to bring change get frustrated and leave the country.
Can you link the source for this never heard of this story
 

another_armchair

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Can you link the source for this never heard of this story
You won't find any public source, just as you won't find any news of Bada Ambani in public sources. Books on him were banned too.

My uncles were witness to the shooting. They collected hundreds of bicycles from the area and scrapped them.

My uncle was a union leader in Tata Steel and considered very close to the man below.

https://www.telegraphindia.com/jharkhand/decade-on-gopal-murder-still-a-mystery/cid/795554

Now, why would a union leader be murdered? ;-)

Tata's have one of the bloodiest hands in Indian history. From paying off maoists to terror groups in the North East. But hey, they create jobs... they do so much of philanthropy so chalta hai na? What good is a union leader who is a stumbling block in Tata's grand modernization plan which will result in hiving off a third of the workforce or even half by giving them a VRS proudly called 'The Goden Handshake'.
 
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Haldilal

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You won't find any public source, just as you won't find any news of Bada Ambani in public sources. Books on him were banned too.

My uncles were witness to the shooting. They collected hundreds of bicycles from the area and scrapped them.

My uncle was a union leader in Tata Steel and considered very close to the man below.

https://www.telegraphindia.com/jharkhand/decade-on-gopal-murder-still-a-mystery/cid/795554

Now, why would a union leader be murdered? ;-)

Tata's have one of the bloodiest hands in Indian history. From paying off maoists to terror groups in the North East. But hey, they create jobs... they do so much of philanthropy so chalta hai na? What good is a union leader who is a stumbling block in Tata's grand modernization plan which will result in hiving off a third of the workforce or even half by giving them a VRS proudly called 'The Goden Handshake'.
Ya'll Nibbiars

The A few years ago in Mumbai, a Marxist economist told me that of all the business groups in India, the one she disliked most was the Tatas. I was puzzled: The organisation where she worked received Tata support, and Tata charities contributed to many causes she considered important. Why? “Because they give capitalism a good name,” she said. The No matter your perspective, the business group of Tata, which celebrated its sesquicentennial in 2018, is special. You could marvel at them as an admirer would, as T.R. Doongaji certainly does in the opening pages of University of Maryland academic Mircea Raianu’s meticulously researched biography of the Tata empire. There, the former managing director of Tata Services reminds us: You wake up in the morning to a Titan alarm, have Tata Tea for breakfast, call your office on Tata Indicom, go to office in a Tata Indica, and lunch at the Taj. After work, you may shop at Westside or have a cuppa at Barista. This list could go on. Yet, the first thing that comes to mind when we think of this great organisation is trust and commitment.

Doongaji saw the way the lives of India’s elite surely those who lunch at the Taj are part of India’s 1% were intertwined with businesses that are part of the Tata group as a virtuous circle. But immediately below, Raianu cites the writer Arundhati Roy, who says: “We all watch Tata Sky, we surf the net with Tata Photon, we ride in Tata taxis, we stay in Tata hotels, we sip Tata tea in Tata bone china and stir it with teaspoons made of Tata Steel. We buy Tata books in Tata bookshops. Hum Tata ka namak khate hain. We are under siege.” In pointing out that we eat Tata’s salt, the fine point—that Tata also makes salt—is not lost, though she too speaks of those who stay at Tata hotels. Both the left and the right, it seems, can’t do without Tata.

The influence the conglomerate has on Indian life is all-pervasive and overwhelming. In this, the Tata group is far from being alone. Other business groups—Reliance, certainly, given its massive consumer footprint, but more subversively and insidiously, Adani, and other groups too, like Godrej—possibly touch many more Indian lives in myriad ways each day. Dispassionate, non-hagiographic accounts of business groups are hard to find. Russi Lala wrote The Creation Of Wealth in 1981—the view of an insider admiring the Tata group. Loksatta editor Girish Kuber’s condensed The Tatas: How A Family Built A Business And A Nation (2019, first published in Marathi in 2015) had the advantage of access. Raianu’s book relies primarily on the company’s archives, and is, as such, unique, for as an outsider he is able to take a step back and see the group from a broader, global context.

Tata is unique for several reasons. One, the family is from a tiny religious minority. Two, it has broadly played by the rules of the game and is known for its ethical conduct—exactly what rankled my Marxist friend. The group’s admirers believe that had Tata bent the rules, it would have had greater successes. They see such fairness as virtuous, while its critics resent that halo. And three, Tata philanthropy has been more strategic, coinciding more with India’s national interests than has been the case with other groups. We associate Tata with institutes devoted to science, fundamental research, cancer research, social science and the arts, not with temples and eye camps—although, to be sure, like other groups, the Tatas also support more traditional forms of charity, including scholarships, hospitals, schools, and disaster relief. The Raianu points out three significant reasons for the Tata mystique. One, it had established transnational financial connections, in particular with East Asia and later the US; two, it exercised control over land, labour and natural resources within India; and three, it created a network of relationships with India’s scientific and technical expertise through its strategic philanthropy.

This is a useful way to look at the group’s rise. When Singapore separated from Malaysia in 1965 and Lee Kuan Yew, its prime minister, wanted to jump-start the economy, he turned to Tata to help set up a training institute to improve the skills of Singapore’s workforce. Tata obliged. If Tata could not capitalise on such overseas forays in subsequent years, this had much to do with the restrictive environment of the Indira Gandhi years, when capitalists were viewed with suspicion, preventing overseas expansion. I remember retired Singaporean bureaucrats wistfully remembering J.R.D. Tata’s visits to the island, saying that if only India hadn’t stymied capitalists like him, Tata could have been a global brand like the Korean chaebol or Japan’s sogoshoshas. That Tata succeeded despite the obstacles, today owning marquee brands like Jaguar Land Rover, with its software arm, Tata Consultancy Services, becoming indispensable for the global information technology industry, is to its credit. Indeed, in 150 years it has spun textiles, forged steel, generated hydroelectric power, and flown planes across India. The Raianu’s tone is sober and unemotional. He admires the group’s rise but points out that what enabled it was not only entrepreneurial spirit and commitment to ethical conduct but also the confluence of colonial and corporate priorities, as well as two specific pieces of legislation that facilitated the Tatas’ expansion—the Land Acquisition Act of 1894 and the Charitable Endowments Act of 1890. These were meant “to bolster the reach and the power of the colonial state”, as he puts it, but they also allowed Tata to acquire land for its plants and its charity arm to establish the basis of its philanthropy. Tata’s genius lay in not only seeing India as a territorially integrated economic entity but also in trusting Indian thinking by investing in India’s knowledge infrastructure, through universities, labs and research institutes. The soft power Tata has enjoyed, Raianu argues, is due to the institutionalisation of philanthropy as a strategic way to earn the social licence to operate.

The access Tata had to land and labour, as well as resources, too is noteworthy. Tata went to Jamshedpur early, and in identifying steel and textiles—two products the British colonial rulers wanted early in the 20th century—Jamshedji Tata figured out that aligning corporate interest with governmental priorities is a good thing. Jamshedpur became perhaps the first corporate town in India. And in spite of the Tatas’ lukewarm relations with India’s freedom movement, when there was labour unrest at a Tata unit, Mohandas Gandhi went to the facility, appealing to the workers to take a more constructive and less confrontational approach. While the Indira Gandhi years were difficult for most private businesses in India, the Jawaharlal Nehru years (1947-64) were not necessarily cheerful for business either. Indeed, Tata lost control of Air India in the Nehru era when the government nationalised the airline, and Nehru was displeased when he found out that Tata intended to support the Swatantra Party. Naval Tata even stood for the Lok Sabha election from South Bombay, as the constituency was then known, and came a close second to the winning Congress candidate, scuppering George Fernandes’ chance of winning the seat.

The Tatas are not above playing courtiers either. J.R.D Tata did praise the Emergency, just as Ratan Tata has been a cheerleader of Narendra Modi. But they were also shrewd in embracing the idea of trusteeship that Mohandas Gandhi championed, and, as Raianu shows, in this they were ably guided by Jayaprakash Narayan and Minoo Masani.

Raianu has studied the Tata archives extensively but he is not beholden to them. As he correctly notes, relations with unions and communities worsened over time: In 1996, a union leader was murdered, allegedly by a rival faction in Gopalpur, Odisha, and the strike at the Telco plant in Maharashtra in 1989 was contentious. A dozen Adivasi protesters were killed in police firing in Kalinganagar, Odisha, in 2006. And Tata had to move its auto plant from Singur in West Bengal to Sanand in Gujarat in 2008 because of opposition from the local community. And as he astutely observes, with greater automation and competition in the global steel industry, it is perhaps no longer possible for the Tatas to act in the benignly paternalistic way they did in the past century.

Triparthi.
 
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Coalmine

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Ya'll Nibbiars I also think first merger then privatisation.

Insurance companies should give all claims. Private insurance not good for health insurance specially.
Justice(lawyer), Insurance , education , Health should be tightly regulated and have socialist outlook and low cost
 
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ezsasa

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I take offense to that statement. Indian diaspora is not uniform and many care about India more than its residents. A lot of successful lobbying in the west is only possible because of indians taking high seats.
Don't forget..... India receives highest amount of foreign remittances in the world, more than $80B, covering more than 80% of oil import bill and you call them a curse? Next time, when you fill your oil tank, remember this fact!
There are industries that thrive by exporting stuff primarily to people of indian origin, bringing in more forex and job opportunities in India.
No population group is uniform and there can be bad people in each group. But your post is really in bad taste.
Its a bit like saying..... Indians are a curse to india!
What’s with the NRI crowd’s obsession with mentioning remittances in every conversation?

a friend of mine settled in US had come to meet me after many many years, in the few minutes of chat we could have she couldn’t refrain from bringing up this remittances point. wanted to retort at that moment, but restrained mysef. Didn’t want to spoil the good moment of meeting a childhood friend after such a long time.

Is this what the NRI crowd keeps repeating among themselves? as if it is some favour to the India.

So far I haven’t ready any research paper on impact of remittances on Indian economy, but the way I see it the impact remittances have on Indian economy is not net positive. most of the remittances stay in bank accounts which are counted as a liability in RBI books which in turn impacts the external debt number. of the 530 billion $ external debt, 20 to 25 % is from remittances/NRI deposits.

Of the remittances that does get spent in Indian economy, since historically real estate is a primary investment for remittances it is ends up inflating the real estate market for rest of us.

as far as oil imports go, we pay 150% tax & service charge over base price per litre. So no, remittances is not paying for petrol we consume.


the impact of remittances on Indian economy is over exaggerated, except for Kerala.
A4D63AD4-26F6-4A07-B754-89BEE713F2E2.jpeg
 
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SKC

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I got Ambrane made in India and designed in India 15000 mAH power bank for INR 999 .

Their products are simply too much costly. Don't understand what kind of premium they are asking.
To make it more clear the second sentence about the premium is about Pentagone products which appears too much costly compared to Ambrane and other Indian manufacturers.
 

Haldilal

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Ya'll Nibbiars

A clear gap in living standards emerged between England and India in the late seventeenth century, when real wages dropped in India's Real wages in India declined sharply during Aurangzeb’s reign. The Mughal Empire under him was the cause of declining living standards.
 

Chandragupt Maurya

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Ya'll Nibbiars

A clear gap in living standards emerged between England and India in the late seventeenth century, when real wages dropped in India's Real wages in India declined sharply during Aurangzeb’s reign. The Mughal Empire under him was the cause of declining living standards.
Geography , natural resources and climatic conditions also play a role in development of a region
India is endowed with vast solar energy potential. About 5,000 trillion kWh
day by day the solar panels are getting cheaper and more efficient
India has many solar parks which are among worlds largest 👇
#1. Bhadla Solar Park, India - 2,245 MW
With a total capacity of 2.25 GW across 14,000 acres, Bhadla Solar Park in India is the largest solar farm in the world to date. Located in the village of Bhadla in the Jodhpur District of Rajasthan, this project is the #1 solar farm in the world in terms of capacity, just edging out our #2 for top spot.
#3. Pavagada Solar Park, India - 2,050 MW
Also known as the Shakti Sthala Solar Power Project, the Pavagada Solar Park in Karnataka is the second-largest solar power farm in India, and the third largest in the world. Comprising 2,050 MW across 13,000+ acres of land, the project was developed by the Karnataka Solar Park Development Corporation Limited (KSPDCL) and the National Thermal Power Corporation (NTPC).
#8. Kurnool Ultra Mega Solar Park, India - 1,000 MW
This 1 GW capacity solar farm occupies 24 square kilometers in Panyam Mandal, Kurnool District, Andhra Pradesh. Funding for this project came from Central and State governments, as well as solar developers. Total investment for the construction of the solar park came to around $980 million dollars.
#10. NP Kunta, India - 978 MW
Another Indian entry on the list of the biggest solar farms in the world, the NP Kunta Ultra Mega Solar Park has a capacity of 978 MW across an area of 32 square kilometers. Like many other solar farms on this list, the project is ongoing, with further capacity expansion planned for the future. In the case of NP Kunta, the total planned capacity is 1,500 MW.
#15. Rewa Ultra Mega Solar, India - 750 MW
Rounding out our list is another entry from India—Rewa Ultra Mega Solar. This solar power plant is spread across 1,590 acres in the Gurh Tehsil of Rewa District of Madhya Pradesh, with a total capacity of 750 MW. The project was developed by Rewa Ultra Mega Solar Limited (RUMSL), a joint venture between the Madhya Pradesh Urja Vikash Nigam Limited (MPUVNL) and the Solar Energy Corporation of India (SECI).
 
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Crazywithmath

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Lolz. Supa powa BBS (NSO equivalent of BD) with their superior kwality methods will simply fudge GDP data to make it look good. Morons cannot even conduct basic labour surveys. No wonder WB, IMF do not take their data seriously; only a bunch of sold out columnists project them to be muh asian tiggaaaa. @gslv markIII I have discovered many more hidden gems regarding their economic data will post later in the BD economy thread.
 

fire starter

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HariPrasad-1

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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
This is bloody mind boggling. For a country like India and its giant economy, This IPO is of appropriate size.
 

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