Indian Economy: News and Discussion

FalconSlayers

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The Adani Group company’s proposed refinery is expected to generate employment opportunities for over 7,750 people.

According to Odisha government, the 10 industrial projects would collectively employ 24,047 people in the State.

Orissa Alloy Steel Private Limited has also received green signal for its proposed 2.5 MTPA steel plant and 370 CPP at Kalinga Nagar in Jajpur district. The company would invest ₹8,000 crore. The project will create employment opportunities for 5,000 people.

The HLCA gave approval for setting up of 60,000 MT industrial structure and 6,000 million tonne steel plant equipment facilities to Tata Steel Limited (Growth Shop) against an investment of Rs. 1,000 crore with employment opportunities for over 2,451 people.

“This would give a significant boost to the Odisha’s vision of developing downstream industries,” said the State government in a statement.

Similarly, Sompuri Infrastructures Private Limited got the approval to set up a 24 MTPA pellet plant and 6-MTPA capacity filter cake at Dhamra, in Bhadrak district. The project entails investment of₹7,811 crore.

Other investment include ₹2,000 crore-Green Hydrogen and Green Ammonia Plant at Paradip,₹3,000 crore-steel plant expansion of Aarti Steels Limited, 6 MTPA beneficiation plant by ArcelorMittal Nippon Steel India Limited in Keonjhar district and 0.5 MTPA steel plant by Rungta Metals Private Limited at Rairangpur in Mayurbhanj district.
 

Haldilal

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The Adani Group company’s proposed refinery is expected to generate employment opportunities for over 7,750 people.

According to Odisha government, the 10 industrial projects would collectively employ 24,047 people in the State.

Orissa Alloy Steel Private Limited has also received green signal for its proposed 2.5 MTPA steel plant and 370 CPP at Kalinga Nagar in Jajpur district. The company would invest ₹8,000 crore. The project will create employment opportunities for 5,000 people.

The HLCA gave approval for setting up of 60,000 MT industrial structure and 6,000 million tonne steel plant equipment facilities to Tata Steel Limited (Growth Shop) against an investment of Rs. 1,000 crore with employment opportunities for over 2,451 people.

“This would give a significant boost to the Odisha’s vision of developing downstream industries,” said the State government in a statement.

Similarly, Sompuri Infrastructures Private Limited got the approval to set up a 24 MTPA pellet plant and 6-MTPA capacity filter cake at Dhamra, in Bhadrak district. The project entails investment of₹7,811 crore.

Other investment include ₹2,000 crore-Green Hydrogen and Green Ammonia Plant at Paradip,₹3,000 crore-steel plant expansion of Aarti Steels Limited, 6 MTPA beneficiation plant by ArcelorMittal Nippon Steel India Limited in Keonjhar district and 0.5 MTPA steel plant by Rungta Metals Private Limited at Rairangpur in Mayurbhanj district.
Ya'll Nibbiars Adani alreday applied for loans. By this FY end this may even reach a debt level of 10,00,000 cores at this speed and their debt would be four times than the debt of the entire Tata Group and RILs. But the revenue are four times smaller.
 

ezsasa

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Interesting chat about India's economy by Ruchir Sharma :

1. Indias working age population growth has slown down and will stop by 2050-2052.
2. Considering point 1 and overall slower global growth due to aging and deglobalization to some extent, India's new normal growth for next 18 years will be only 5%.
3. This means India's GDP per capita nominal will take 18 years to double, so GDP per capita in 2040 should be around 4500$ . 😿 (looks like he assumes that their will be currency deprecation, which will negate growth due to inflation, which is fair, since India runs perpetual deficit).
4. He is predicting above based on normal trajectory of policy making. To get to 7% growth there has to be some radical policy changes that get more women in workforce, improve labor force participation, etc. But he is not counting on them since in India changes are hard to make.
Ruchir sharma is not just a random academic economist, his U.S based company manages rockefellar emerging market investment portifolio. if rockefellar does not want to invest in India, so be it. i should be more interested in folks who are investing in India are saying.

infact it would be interesting to find out what his company is advising it's investors, on where to invest. follow the money.

Rockefeller's spiel to investors seems to be move out of china, get back to U.S.


Ruchir's spiel seems to be limited to safe bets within emerging markets.

I like Indonesia and companies like [conglomerate] Astra International [ASII.Indonesia] and Bank Central Asia [BBCA.Indonesia], a high-quality bank with strong digital initiatives. I also like Brazil, with companies like Petrobras [PBR] and Vale [VALE], and much of Latin America, which looks better with rising commodity prices.
India has ample scope to benefit. Given much better technology and digital infrastructure, the government’s aid reaches the poor in ways that it never would have before. One beneficiary of digital transformation: Bharti Airtel [532454.India].
https://www.barrons.com/articles/em...-sharma-rockefeller-international-51651100738


did he mention in his NDTV interview that he thinks GoI public services have improved?
 
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Physx32

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Ya'll Nibbiars The Mumbai rainfall.

The Last 24 hours

Ephinstone 375 MM
Worli 353 MM
Dadar 337 MM
Matunga 325 MM
Cst Byculla 322 MM
Parla 318 MM
Chembur Wadala 315 MM
Malabar 299 MM
Sewri 298 MM
Bandra 289 MM
Goregaon 247 MM
Andheri 245 MM
Breach Candy 214 MM
Ghatkopar 198 MM
Vikhroli 197 MM
Borivli Kandivli 195 mm
Bhandup 195 mm

And still no flooding like the Seoul. But still some brown seopy defending and praising the Seoul and the west like the @Apollyon Nibba.

:truestory:
Avg rainfall per hour is then 15 mm/hr. In many parts of Seoul, rainfall was higher than 140 mm/hr. What was maximum mm/hr yesterday in Mumbai?
 

Haldilal

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Avg rainfall per hour is then 15 mm/hr. In many parts of Seoul, rainfall was higher than 140 mm/hr. What was maximum mm/hr yesterday in Mumbai?
Ya'll Nibbiars whole days almost constantly since morning in 5 till 9 and 12 to 1 from 2 to 5 and again at late night. So it was constantly just like the Seoul but still no major problems like the souls
 

Physx32

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Ya'll Nibbiars whole days almost constantly since morning in 5 till 9 and 12 to 1 from 2 to 5 and again at late night. So it was constantly just like the Seoul but still no major problems like the souls
So rain was continuous right? So it's 15 mm/hr which is far less than what Seoul received in one hour.

So Mumbai didn't receive rainfall anywhere close to what Seoul received in 1 hour. Your comparison and inference is thus inaccurate.
 

angryIndian

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Even if it is 5% nominal growth which I believe is an underestimate, that 5% would still be faster than most countries in the world and probably still on the upper end relative to other low income countries. India won't fall in relative per capita ranking if its per capita growth is more than those countries around it. Ruchir also predicted that very few countries would have >5% growth if you believe his predictions.
Firstly i don't think India's per capita income is going to be only $4500 by 2040.
This would roughly translate to a GDP size of 7.2 trillion $. I don't think India's performance would so sluggish that it would end up a GDP of only 7.2 trillion $ in 2040.

The IMF long term projection for 2027 is around 3700$.In all probability, the per capita income would be much higher.
 

thebakofbakchod

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Ya'll Nibbiars Adani alreday applied for loans. By this FY end this may even reach a debt level of 10,00,000 cores at this speed and their debt would be four times than the debt of the entire Tata Group and RILs. But the revenue are four times smaller.
Not all debt is the same. For whatever reason, Adani has been able to secure very very good loans, once with long gestation periods and low interest rates


>Adani’s group has not gone that far but it has deleveraged. While the amount borrowed across the listed companies has more than tripled to 2.3 trillion rupees ($30 billion) over the past decade, aggregate net debt has fallen to about 4 times EBITDA. He has diversified funding sources too, reducing his dependence on state banks, and extended the time available to pay off liabilities: 50% of debt is in capital-markets instruments and repayments stretch from 2026 through 2046. Most of the group businesses, barring property and lending, are captured through listed entities where credit rating agencies see few obvious signs of weakness: Adani is buying cash-generating assets and its bidding behaviour for contracts or acquisitions is not considered aggressive.




 

Haldilal

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Which place? Looks
Ya'll Nibbiars thats Seoul.

Not all debt is the same. For whatever reason, Adani has been able to secure very very good loans, once with long gestation periods and low interest rates


>Adani’s group has not gone that far but it has deleveraged. While the amount borrowed across the listed companies has more than tripled to 2.3 trillion rupees ($30 billion) over the past decade, aggregate net debt has fallen to about 4 times EBITDA. He has diversified funding sources too, reducing his dependence on state banks, and extended the time available to pay off liabilities: 50% of debt is in capital-markets instruments and repayments stretch from 2026 through 2046. Most of the group businesses, barring property and lending, are captured through listed entities where credit rating agencies see few obvious signs of weakness: Adani is buying cash-generating assets and its bidding behaviour for contracts or acquisitions is not considered aggressive.




Ya'll Nibbiars Tue amount you metioned os of the listed firms the debt hold by the unlisted firms is even higher than this. It may be as near as or even higher than the 6,00,000 crores.
 
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Haldilal

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So rain was continuous right? So it's 15 mm/hr which is far less than what Seoul received in one hour.

So Mumbai didn't receive rainfall anywhere close to what Seoul received in 1 hour. Your comparison and inference is thus inaccurate.
Ya'll Nibbiars it per hour now day.

That some 900 IQ move from gigachad IT Office :lol:
Ya'll Nibbiars Aap aur @ezsasa Nibba jala sambar ke.
 

another_armchair

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Ok, cement, metals.

What next?

Do we see him throw a challenge at L&T or simply offer to buy them out?
 

Haldilal

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Ok, cement, metals.

What next?

Do we see him throw a challenge at L&T or simply offer to buy them out?
Ya'll Nibbiars let him try and be burned down Ambani burned their hand down, the Birlas also done the same.
 

IndianHawk

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Ya'll Nibbiars let him try and be burned down Ambani burned their hand down, the Birlas also done the same.
He is more ruthless than Ambani's and more cunning than birlas . But he won't go after L&T . In worlds fastest growing economy there is space for everyone in infrastructure.

We might need 10+ firms like l&t to realise our true potential.
 

OFBkaRakhwala

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Ok, cement, metals.

What next?

Do we see him throw a challenge at L&T or simply offer to buy them out?
They not gonna take over L&T lol.
 

Kumata

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x posting... once they are off books... banks have no motivation imo to recover these... we pay for these directly...


With this, banks have written off a whopping Rs 11,68,095 crore worth of bad loans, or non-performing assets (NPAs), in the last ten years with most of the write-offs coming in the last seven years, the RBI said in an RTI reply to The Indian Express. This is almost 10.54 per cent of total non-food bank advances of Rs 110.79 lakh crore and very close to the government’s gross market borrowing of Rs 12.05 lakh crore projected for FY 2021-22 in the Union Budget.
 
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another_armchair

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x posting... once they are off books... banks have no motivation imo to recover these... we pay for these directly...

Typical hit job against Narendra Modi.

Stopped reading after -

Of the total write-off in 10 years, as much as Rs 10.72 lakh crore write-off has happened since financial year 2014-15 when the Narendra Modi government assumed power. This write-off aided banks to whitewash their bad loan portfolio.

 

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