Indian Economy: News and Discussion

[R1TTER]

OKIE..any other gems that you intend to share saar..

Whatever you need Miss, whatever you want 🫠

 

[no smoking]

many of our professions, products people produce and tradecrafts do not get added in GDP calculations, yet people earn their living from them. GDP is good for measuring at a national level , even though it is an estimate not actuals.

Every country has certain part of her economy that is not added into the GDP: the more backwards country is, the bigger this part is. Since it is not added into the GDP calculation, it is not under the government tax system, certainly the resource of this part of economy cannot be mobilized by the government. African countries have much bigger portion of hidden economy than India.

 

[FalconSlayers]

FDI may touch USD 100 billion in 2022-23 : PHD Chamber

However, the inflation scenario has been stoked by rising international commodity prices, particularly of crude oil, it said. "India is expected to attract a USD 100 billion FDI inflow in 2022-23 supported by various ground touching economic reforms and significant ease of doing business in...

m.economictimes.com

PLI scheme for textiles: Govt approves 61 proposals of over Rs 19,000 crore

Textile Secretary U P Singh said that a total of 67 proposals were received under the PLI scheme for the textiles sector. The proposed investment expected from the approved applicants is Rs 19,077 crore and the projected turnover is Rs 184,917 crore, Singh said.

m.economictimes.com

 

[thebakofbakchod]

If this is true and the Triton EV news is not a scam, Gujarat would have received over 35000 crore investments in its auto sector in the last few months alone and the PLI scheme hasnt even come into effect yet

Suzuki Japan - 12000cr
Triton EV - 10000cr
MG Motor - 2000cr (ongoing expansion) + 4000cr above
Tata Motors - ~10000+cr (if their takeover of Ford gets approved. This news says they will invest 25k crore in their production facilities in Pune and Ahmedabad)

Not bad for a state dumeels and momota online are crying about being a failure 24/7.

 

[Shuturmurg]

If this is true and the Triton EV news is not a scam, Gujarat would have received over 35000 crore investments in its auto sector in the last few months alone and the PLI scheme hasnt even come into effect yet

Suzuki Japan - 12000cr
Triton EV - 10000cr
MG Motor - 2000cr (ongoing expansion) + 4000cr above
Tata Motors - ~10000+cr (if their takeover of Ford gets approved. This news says they will invest 25k crore in their production facilities in Pune and Ahmedabad)

Not bad for a state dumeels and momota online are crying about being a failure 24/7.

Dude while bengal i understand, but tamil nadu has a solid economy as well, which is well diversified in manufacturing and services both. Per capita GDP of Tamil Nadu and Gujarat are similar

 

[thebakofbakchod]

Dude while bengal i understand, but tamil nadu has a solid economy as well, which is well diversified in manufacturing and services both. Per capita GDP of Tamil Nadu and Gujarat are similar

ik but alot of big mouth dumeels cant stand the growth of Gujarat (and recently Karnataka).


see comments underneath

The dumbass telangana ministers recently have been making alot of noise as well. Big words for a state that barely manufactures any cars.

 

[gajapati]

If this is true and the Triton EV news is not a scam, Gujarat would have received over 35000 crore investments in its auto sector in the last few months alone and the PLI scheme hasnt even come into effect yet

Suzuki Japan - 12000cr
Triton EV - 10000cr
MG Motor - 2000cr (ongoing expansion) + 4000cr above
Tata Motors - ~10000+cr (if their takeover of Ford gets approved. This news says they will invest 25k crore in their production facilities in Pune and Ahmedabad)

Not bad for a state dumeels and momota online are crying about being a failure 24/7.

Tamilnadu is not failure ... They contribute to near 40% of india's automobile industry and have also become the leading player in electronic vehicle .. Right now they are also excelling in inviting investment in service sector and electronics sectors . What they lack is new startup trend seen around hydravad , ncr and mumbai . Otherwise tamilnadu model is worth following like gujurat model ..

most of the credit goes to Jayalalita

How Jayalalithaa made Chennai the Detroit of India

The setting up of Ford's first factory in India near Chennai in 1995, when Jayalalithaa was in power, marked the arrival of the city as an auto hub

www.livemint.com

 

[Butter Chicken]

 

[Shuturmurg]

Tamilnadu is not failure ... They contribute to near 40% of india's automobile industry and have also become the leading player in electronic vehicle .. Right now they are also excelling in inviting investment in service sector and electronics sectors . What they lack is new startup trend seen around hydravad , ncr and mumbai . Otherwise tamilnadu model is worth following like gujurat model ..

Tamil Nadu economy is pretty diversified. In manufacturing apart from auto sector they also have textile and footwear manufacturing (they manufacture 40% of india's leather footwear). They also have growing electronics manufacturing sector (foxcon). They also have smaller scale manufacturing of things like fireworks and printing, matches, etc. They also have defence manufacturing (Mahindra aerospace, l&t aerospace and defence, ashok leyland defence,etc )

This apart from strong services sector in not only software but also tourism. Its the state with highest foreign tourist arrival and one of the highest domestic tourist arrival.

I have seen some people lump in Tamil Nadu's economy Kerala , that's not true at all.

 

[here2where]

The impact of continued WFH on allied sectors is obvious, but is it legal to force things....

Realty sector wants work from home to end, to approach Karnataka CM Basavaraj Bommai

Realty sector wants work from home to end, to approach Karnataka CM Basavaraj Bommai - Times of India

Representatives of the real estate sector plan to meet chief minister Basavaraj Bommai and urge him to prevail upon companies to end work from home and recall employees to offices. This, they say, will help the sector recover more quickly from the pandemic slump.

m.timesofindia.com

 

[RoaringTigerHiddenDragon]

First of all, TamilNad’s economy is not a success. It is better than Indian states. At $3200 per capita, TN is at war ravaged Ukraine’s level and lower than Sri Lanka or Indonesia’s $4000+, Thailand’s $6000+ etc. The reason why TN is better than other states is because their rural incomes do not suck as much as in UP or Bihar or WB or Assam or Gujarat, mainly because TN is more urbanized and their villages have decent connecting infrastructure. It is really the incomes and connectivity of the non-urbanized population that determines per capita incomes. Highly urbanized states/UTs like Delhi, Goa, Chandigarh, Sikkim etc have per capita incomes in the $8000+ range. Overall the southern states plus Gujarat, Haryana are getting closer to Indonesian levels. That is it. The rest all are at African levels. Take Bihar’s rural per capita income - it is between $300 and $600 and Bihar is 70% rural. Same goes for UP, MP, etc. So, TN just looks relatively better but the quality of life and infrastructure in TN is still pretty bad compared to any upper middle income country in the world, let alone upper income countries.

 

[HariPrasad-1]

Tata Motors | Ford India - Tata Motors looks to drive into Ford India's Sanand plant

Tata Motors and Ford India have approached the administration in Gujarat to understand the incentive structure after the sale of the factory, clearly indicating that the maker of Nexon and Altroz is the frontrunner for the facility.

economictimes.indiatimes.com

 

[Suryavanshi]

Tamil Nadu economy is pretty diversified. In manufacturing apart from auto sector they also have textile and footwear manufacturing (they manufacture 40% of india's leather footwear). They also have growing electronics manufacturing sector (foxcon). They also have smaller scale manufacturing of things like fireworks and printing, matches, etc. They also have defence manufacturing (Mahindra aerospace, l&t aerospace and defence, ashok leyland defence,etc )

This apart from strong services sector in not only software but also tourism. Its the state with highest foreign tourist arrival and one of the highest domestic tourist arrival.

I have seen some people lump in Tamil Nadu's economy Kerala , that's not true at all.

They also lead in terms of electronics instrumentation and Medicla equipment.

Tho I am very sure Gujrat will lead in terms of shipping in the future. Adanis port management is on par with Korea and Chinese they have achieved much in very small area.

 

[Shuturmurg]

First of all, TamilNad’s economy is not a success. It is better than Indian states. At $3200 per capita, TN is at war ravaged Ukraine’s level and lower than Sri Lanka or Indonesia’s $4000+, Thailand’s $6000+ etc. The reason why TN is better than other states is because their rural incomes do not suck as much as in UP or Bihar or WB or Assam or Gujarat, mainly because TN is more urbanized and their villages have decent connecting infrastructure. It is really the incomes and connectivity of the non-urbanized population that determines per capita incomes. Highly urbanized states/UTs like Delhi, Goa, Chandigarh, Sikkim etc have per capita incomes in the $8000+ range. Overall the southern states plus Gujarat, Haryana are getting closer to Indonesian levels. That is it. The rest all are at African levels. Take Bihar’s rural per capita income - it is between $300 and $600 and Bihar is 70% rural. Same goes for UP, MP, etc. So, TN just looks relatively better but the quality of life and infrastructure in TN is still pretty bad compared to any upper middle income country in the world, let alone upper income countries.

Obviously I am comparing with other Indian states only. You cannot expect to have a large state with GDP per capita of 20000$ nominal when entire country's GDP per capita is ~2200 $. Btw, Tamil Nadu's GDP for 2021-2022 is 326 billion USD according to this :

Tamil Nadu Budget Analysis 2022-23

That comes to around 4k nominal GDP per capita (similar to indonesia).

 

[HariPrasad-1]

Tata motor is planning to produce 2 lakh EV at Ford's Gujarat plant which tata wants to acquire.

 

[IndianSpiderman]

ik but alot of big mouth dumeels cant stand the growth of Gujarat (and recently Karnataka).


see comments underneath

The dumbass telangana ministers recently have been making alot of noise as well. Big words for a state that barely manufactures any cars.

I have noticed that you've been promoting sub-nationalism and Chinese propaganda since the day that you started posting here. What's your deal?

 

[HariPrasad-1]

ik but alot of big mouth dumeels cant stand the growth of Gujarat (and recently Karnataka).


see comments underneath

The dumbass telangana ministers recently have been making alot of noise as well. Big words for a state that barely manufactures any cars.

What an idiotic Twit? If a car manufacturer did not success in Gujarat means is it a failure of Gujarat Model?

Few years back cheverolate exited from Gujarat as it was unable success. MG bough the same plant and became successful. If Gujarat model was failure than why Gujarat is producing 1/3rd of the cars in India? Today tata is in Gujarat and buying Ford plant where they want to produce 200000 EVs. Maruti is expanding so as MG. They are investing more and more in Gujarat.

 

[Suryavanshi]

The real question is will we ever have anything close to Ulsan in terms of Shipbuilding?
From the way I see it India lacks natural Harbour to establish shipbuilding yards.

 

[Suryavanshi]

ik but alot of big mouth dumeels cant stand the growth of Gujarat (and recently Karnataka).


see comments underneath

The dumbass telangana ministers recently have been making alot of noise as well. Big words for a state that barely manufactures any cars.

The Ford plant will probably be bought by some Indian company so it's not like the plant itself will be gone as expected political propagandist are just Midwits.

 

[Chandragupt Maurya]

IMO it is a very flawed to to just gauge our prosperity and power on a x amount of per capita income.
You see Sri Lanka also has a very high per capita income right now some some 4500 dolles. Let's assume Before the economic collapse 10 kg rice was 1000 dolles but the same has no become 3000 dolles the purchasing power of the designated amount has decreased despite being higher number on paper.
You get what I'm saying right? If 100 dollars in America can buy you 10 kg rice and 10 dollars can buy 15 kg rice in India than which is better for the person?
Prosperity lies in eating good food, good clothes, buying vehicle, having good heathcare etc.
Something which is material and tangible and not just on paper like some numbers.

The price of good is determined by production cost, efficiency and abundance and hence it influences purchasing power.
For a country like America it will always be more rich than India because some 36 people have resource of 1km2 at their disposal Meanwhile us in India have resources of 1km2 distributed among 400 people.

Of course there are exceptions but they can be explained.

That’s what i have been trying to explain people here that prosperity means quality of life which includes better healthcare and better nutrition which will increase the average life expectancy and decrease the infant and maternal mortality rate
It’s easy to inflate the GDP but that’s just jugglery of figures which has no benifit for a nation or an individual