Indian Economy: News and Discussion

no smoking

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Anyone has any ideas on how India can attain a trade surplus?
Cut all the luxury goods import to almost ZERO;
Cut average salary to the level lower than Vietnam, Philippine, etc;
Cut all the importation related to general daily consumption to minimum, from cloths, food to fuel;
Force peasants/landlord to sell their land to manufacturers under the market value;
Most importantly, make the peace with Pakistan.
 

Kay

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We consume oil, electronics and gold. We Our agricultural and food processing sector is inefficient. We lose forex in tourism and education.

Energy Independence is a must, not just for economic, but also strategic reasons.
We have to fast-track our methanol based economy and rely more on electric vehicles. Methanol production capacity has to be increased and incentives offered for heavy vehicles to turn to methanol.

Railways have to run on electricity. Maybe rail lines can be covered by solar panels just as we are doing for some canals. Areas adjacent to railway lines can be used for wind turbine installation.

GOI should promote digital gold more and shore up actual gold reserves. More digitization if the ecoonomy should be encouraged with top up cards especially for micro transactions.
Token income tax collection should be introduced for all income brackets, thereby promoting digitization and micros transactions.

Electronics sector can be made stronger by encouraging indegeneous development. Some schemes can be making wholly Indian manufactured phones mandatory for official use, encourage use of tablets in education, encourage use of Indian electronicegoods loaded with our BOSS OS in education and government sector.

Agriculture has to be made more efficient and incentives given to land owners of small pieces of land for merging small pieces of agricultural land. A co-operative model for agriculture may work.

Faith in our education system gets eroded because of cheating, leaking of exam papers, bad quality of teaching and teachers in Schools and colleges. We should encourage more online learning and online examinations to increase fairness in the system.
 

Craigs

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Cut all the luxury goods import to almost ZERO;
Cut average salary to the level lower than Vietnam, Philippine, etc;
Cut all the importation related to general daily consumption to minimum, from cloths, food to fuel;
Force peasants/landlord to sell their land to manufacturers under the market value;
Most importantly, make the peace with Pakistan.
In short follow China's template.
 

Advaidhya Tiwari

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We consume oil, electronics and gold. We Our agricultural and food processing sector is inefficient. We lose
forex in tourism and education.

Energy Independence is a must, not just for economic, but also strategic reasons.
We have to fast-track our methanol based economy and rely more on electric vehicles. Methanol production capacity has to be increased and incentives offered for heavy vehicles to turn to methanol.

Railways have to run on electricity. Maybe rail lines can be covered by solar panels just as we are doing for some canals. Areas adjacent to railway lines can be used for wind turbine installation.

GOI should promote digital gold more and shore up actual gold reserves. More digitization if the ecoonomy should be encouraged with top up cards especially for micro transactions.
Token income tax collection should be introduced for all income brackets, thereby promoting digitization and micros transactions.

Electronics sector can be made stronger by encouraging indegeneous development. Some schemes can be making wholly Indian manufactured phones mandatory for official use, encourage use of tablets in education, encourage use of Indian electronicegoods loaded with our BOSS OS in education and government sector.

Agriculture has to be made more efficient and incentives given to land owners of small pieces of land for merging small pieces of agricultural land. A co-operative model for agriculture may work.

Faith in our education system gets eroded because of cheating, leaking of exam papers, bad quality of teaching and teachers in Schools and colleges. We should encourage more online learning and online examinations to increase fairness in the system.
India imports gold and exports jewellery. So, the net gold being imported goes to about $15 billion. The jewellery have higher margins and hence the gold rate of export is higher than import. Moreover, the $15 billion gold is an asset. One must not bother much about gold imports. Indian export of gold is huge enough to being back much of the lost forex in import.
 

Haldiram

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Yes, 167.7 lakh crore is the 2017 figure, not 2018. And coming back to my original point, 1% growth in dollar terms is not a lot higher than 0% and is still worrying.
The Finance minister seems to think so too. They have started taking counter-measures to amend the trade deficit. Recently they imposed tariffs on imported luxury products.

(Rupee touched 73.5 today. Sensex is set to take another nosedive again.)
 
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nongaddarliberal

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India can attain trade surplus by cutting oil supply and using coal liquefaction in its place. but that will have its own consequences like lack of petrol for 2 wheelers (Indians buy 2.5crore 2 wheelers a year), lack of sufficient petrochemicals etc.

The second import that can be cut are in electronics by making them in india by heavy R&D investment. Another important import that can be cut is in tourism and foreign studies.

But, why is it needed? India has its own source of FDI and remittance which will keep coming. Hence there is little need for trade surplus. Unwarranted compromises must not be done just to get surplus
Cut all the luxury goods import to almost ZERO;
Cut average salary to the level lower than Vietnam, Philippine, etc;
Cut all the importation related to general daily consumption to minimum, from cloths, food to fuel;
Force peasants/landlord to sell their land to manufacturers under the market value;
Most importantly, make the peace with Pakistan.
Guys I'm talking about medium to long term solutions, not immediate measures such as drastically restricting imports.

Btw, make peace with pakistan? Lol.
 

Advaidhya Tiwari

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Guys I'm talking about medium to long term solutions, not immediate measures such as drastically restricting imports.

Btw, make peace with pakistan? Lol.
As I said, the biggest wastage is in the following:
  • Electronics imports
  • Tourism and foreign studies
  • Electric machinery
These 2 are clearly reducible by substituting with Indian goods and services. The oil can also be substituted with coal liquefaction but will waste coal and cause some other problems in chemicals and petrol. But the above goods are definitely replaceable easily in 5-7 years time
 

Yggdrasil

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Cut all the luxury goods import to almost ZERO;
Cut average salary to the level lower than Vietnam, Philippine, etc;
Cut all the importation related to general daily consumption to minimum, from cloths, food to fuel;
Force peasants/landlord to sell their land to manufacturers under the market value;
Most importantly, make the peace with Pakistan.
Not good enough, comrade. India should just put 100 million people in concentration camps and make them work for $5 per day! Long live the revolution!
 

Advaidhya Tiwari

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Today's gains..


-----------------------------------------------------------------------------------------------------------------------------------------------------------------

@Kshatriya87 Pretty interesting.. the gains made in the entire year have been wiped out. We are back to where we were in January.

Today's gains..



@Mikesingh :troll:
Sensex has lowerd by just 1% in 1 week and has hit triple bottom:
upload_2018-10-3_15-47-41.png


It is almost the end of downturn and time for consolidation. Selectively posting only down days without posting the upward movement is silly
 

no smoking

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Guys I'm talking about medium to long term solutions, not immediate measures such as drastically restricting imports.
Restricting imports is a long term solution that need to be carried out immediately.

Btw, make peace with pakistan? Lol.
I know, most of Indians will laugh at this idea. If people believe that they can build up an industry base strong enough to reverse trade balance in Electronic products/machine in 5-7 years, how can you expect them to understand that the industrialization procedure is so costly, you will need every cent you can have to fund it in a very long period. A 2-front military confrontation is luxury consumption for them.
 

Haldiram

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View attachment 28639

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
This data has virtually no actionable value other than pulling your leg :daru:


I believe mutual funds would have predicted and buffered the descent very decently. Stay put. It will start its new 5-year bull run soon after it sheds its flab in this correction. The economy is slated to touch 6 trillion $ in 10 years and the Sensex is geared to reach 1,00,000 in the same time. Itna saara paisa kidhar jayega, hum-hi ko milega. :cool1:

Meanwhile, today's progress..

Crashed 500 points within 5 minutes of market opening.

 
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Advaidhya Tiwari

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Restricting imports is a long term solution that need to be carried out immediately.



I know, most of Indians will laugh at this idea. If people believe that they can build up an industry base strong enough to reverse trade balance in Electronic products/machine in 5-7 years, how can you expect them to understand that the industrialization procedure is so costly, you will need every cent you can have to fund it in a very long period. A 2-front military confrontation is luxury consumption for them.
It is other way around. The war with pakistan is what gives psychological motivation to people to work harder India has plenty of people and some can be easily put in military work without affecting the work of others. After all, the whole point of developing electronics industry is to have indigenous manufacturing for war consumption.
 

Flame Thrower

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What the FFFF!!!!??

Rs. 2.50 reduced on diesel and Petrol. Centre to bear the loss of 21000 crores.

Rs 2.50 worth nothing, but 21k crores is a lot of money.
Can anyone give the accurate numbers for Indian GDP in lakhs of crores. I remember it to be around 44.3 lakhs crores(2018 Q1 data).

It is around 0.47% of total GDP.

Now, I really wanna punch Jaitley's face
 
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