Indian Economy: News and Discussion

[Anibesh acharya]

firse apology mangega 10 saal bad , if this guy lived to see himself proved clown again.

Yeah he was writing articles in support of Narmada bachao andolan. Recently apologized when data showed tribals have become rich due to Narmada project .

 

[HitmanBlood]

Saw people arguing that Elon is league above Adani as he is a innovator. I do not find any substance in this argument.
His dad had a private plane a ruby mine that made him millions each year. Adani was son of some common mooks with his brother foraging into a niche business sector.
Elon made his rise by acquiring and managing companies like ZIP2 and he did not make pay pal like they say he was onboarded much later.
He did his fair share of strong arming where he worked and his colleagues at the time said so too, so he is anything but a nice guy. You cannot be nice guy in business specially here in India where there are several hyenas out to get you in your nascent stage.
Tesla he bought from another CEO that went bunk.
Space X is itself built on Vertical Integration which he said so himself and he continues to do vertical integration even now.
Elons shares are bloated as well.
Elon too enjoys cotton glove treatment from the gov.
I do not hate on elon and I do not see a reason to hate on Adani too. On hindsight Adani seems way more humble in baground an actual nothing to everything.

Our socioety is full of pajeet thats the problem.
Adani has taken risks and made outlandish moves that the common estrogen sniffing Pajeet cannot fathom so he lashes out of his insecurity.
Adani > Every Sarkari Leech.

Its like seeing people hating on david for fighting golaith.

Elon's success is because of department of defence and Nasa giving him trillions of dollars worth of high end technology for free.

Since US doesn't run state owned companies they hire frontmen like Elon Musk and give them technology access and lots of money to become a thriving business. This is the American model of success.

 

[Shuturmurg]

Business News - Read Latest Startup, Tech, Markets, Finance, Science News - Business Insider India

Business News - Read Startup, Auto, Tech, Stock Market, Finance, Career, Education, Science, Health, Mobile, Crypto, Sustainability News. Business Insider India

www.businessinsider.in

This should be made illegal in india.

 

[Shuturmurg]

Saw people arguing that Elon is league above Adani as he is a innovator. I do not find any substance in this argument.
His dad had a private plane a ruby mine that made him millions each year. Adani was son of some common mooks with his brother foraging into a niche business sector.
Elon made his rise by acquiring and managing companies like ZIP2 and he did not make pay pal like they say he was onboarded much later.
He did his fair share of strong arming where he worked and his colleagues at the time said so too, so he is anything but a nice guy. You cannot be nice guy in business specially here in India where there are several hyenas out to get you in your nascent stage.
Tesla he bought from another CEO that went bunk.
Space X is itself built on Vertical Integration which he said so himself and he continues to do vertical integration even now.
Elons shares are bloated as well.
Elon too enjoys cotton glove treatment from the gov.
I do not hate on elon and I do not see a reason to hate on Adani too. On hindsight Adani seems way more humble in baground an actual nothing to everything.

Our socioety is full of pajeet thats the problem.
Adani has taken risks and made outlandish moves that the common estrogen sniffing Pajeet cannot fathom so he lashes out of his insecurity.
Adani > Every Sarkari Leech.

Its like seeing people hating on david for fighting golaith.

Please stop quoting American commie bernietard sources.
Elon's dad was wealthy (not super wealthy), but he left his dad and moved to canada after high school with his mom (who had already divorced his dad before). In fact his dad is a creep that is why he doesn't have much relationship with him. So yes he grew up in wealth, but not like a billionaire or something.

https://www.news.com.au/finance/work/leaders/hes-having-a-tantrum-like-a-spoilt-child-elon-musks-father-hits-back-after-being-branded-evil/news-story/df7279080de9ed5253bb6733b1d73c22

He started Zip2 himself with his brother and also founded X.com (paypal competitor) which later merged with paypal, hence he got board position and later CEO.

As for spacex, just check how much grant US govt. gave boeing-ulx. Same with blue origins, got a lot of support from govt. But they are struggling to compete with SpaceX.

As for Adani, in a way you can say like Elon he is taking big risks, lets see which way it goes, hopefully he succeeds, as you said :
Adani > Every Sarkari Leech.

 

[Star screamer]

 

[ezsasa]

Spectrum, defined as per the Explanatory note to the Indian Telecommunication Bill, 2022 : "In a way, spectrum is similar to atma, which is ajar, amar as described in Shrimad Bhagwad Gita. Like atma, spectrum too does not have any physical form, yet it is omnipresent."

 

[Suryavanshi]

Spectrum, defined as per the Explanatory note to the Indian Telecommunication Bill, 2022 : "In a way, spectrum is similar to atma, which is ajar, amar as described in Shrimad Bhagwad Gita. Like atma, spectrum too does not have any physical form, yet it is omnipresent."

View attachment 172769

I like this indigenization of Paradigm.
Japanese have a whole lot of such local terms that are used in daily life.

 

[another_armchair]

Question for the subject experts.

Adani has pledged all his shares in his cement business.

When that happens, defacto control of the company transfers to the entity with which the shares are pledged.

This baffles me a wee bit. Adani acquired cement business, pledged all shares with a third party, took money and did what with it when all he remains is a puppet? So DB runs two cement behemoths through proxy.

So Adani will use the money to pay off existing creditors? There's chatter he is in some pain because of his 'dollar' debt and the INR cratering isn't adding cheer to his current situation. Hope at least a part of his $ debt is hedged.

Meanwhile USDINR hits 81. Just one short of my target.. plenty of pain left... RBI should stop throwing dollars trying to stem the tide.

The MSME sector is in some trouble and will add to bank NPA woes. Textiles export orderbook is dry ... if EU-US slide further, we won't be insulated from it no matter how much money Govt/DII sinks into the stonk markets. Outlook for Q3-Q4 isn't bright with Putin showing no signs of backing off.

 

[Suryavanshi]

The presence of Foreign money in Indian Business certainly is concerning but that is without a doubt our own making, Indians/Hindus for the larger part have no control over Big Finance. Those are entirely in control of Joos(Blackrock, Vanguard, Schwab).
Unless Indians invest surplus in profitable assets we can't really call ourselves independent.

 

[another_armchair]

The presence of Foreign money in Indian Business certainly is concerning but that is without a doubt our own making, Indians/Hindus for the larger part have no control over Big Finance. Those are entirely in control of Joos(Blackrock, Vanguard, Schwab).
Unless Indians invest surplus in profitable assets we can't really call ourselves independent.

What I find worrying is Adani could do the same with other entities and they include strategic assets like Airports, Ports etc which could fall into foreign control. One can always sell a dud to a gora and start a competing business with the money but not sure how ethical that is.

Time GoI went easy on their generosity towards this 'well meaning' businessman.

 

[Suryavanshi]

What I find worrying is Adani could do the same with other entities and they include strategic assets like Airports, Ports etc which could fall into foreign control. One can always sell a dud to a gora and start a competing business with the money but not sure how ethical that is.

Time GoI went easy on their generosity towards this 'well meaning' businessman.

I do share this fear of Some Dozen business becoming our own zaibatsu and too big to fail. Alas our PSU are too retarded to fix so I think Gov is using Adani as a Vehicle to pursue Business interests like how the Murican model works. Big folks need to be watched always they cannot become bigger than the country and people.

Oddly enough the Faultline lies in our own admin, MSME face several hyenas and roadblock and as such our MSME never swelled and I don't think it will in the future. Indian system was always favorable to big business which is its own kind of doom.

 

[another_armchair]

I do share this fear of Some Dozen business becoming our own zaibatsu and too big to fail. Alas our PSU are too retarded to fix so I think Gov is using Adani as a Vehicle to pursue Business interests like how the Murican model works. Big folks need to be watched always they cannot become bigger than the country and people.

Oddly enough the Faultline lies in our own admin, MSME face several hyenas and roadblock and as such our MSME never swelled and I don't think it will in the future. Indian system was always favorable to big business which is its own kind of doom.

I am fine with Adani getting uncomfortably big as long as his post acquisition action doesn't put 'others' in jeopardy.

The biggest issue plaguing MSMEs is access to affordable capital and payment of dues from clients.

NS made a recent reference to clear dues within 45 days. There are suppliers who have crores stuck with IT giants in Bangalore. A friend recently had to send a notice to a big IT giant and get his dues cleared. The malaise runs deep. A lot of Indians have this tendency of holding back payments. They do it just for whim or to show they are in charge of the situation. It is sad and reflects poorly on us. Add rampant corruption to the mix and there is very little incentive to do business given the daily stress involved. Jobs are no different.

MSME's also have a business continuity problem as a lot of them are family owned businesses. With kids moving to bigger cities and joining the service sector, there's nobody reliable to take care of the 'factory' as the proprietor ages and kids seem uninterested in leaving a comfy life in the metro. Shrinking size of families is making it rapid. Usually ends with.. 'Papa, bech do.. mujhe job karna hai... factory mere bas ka nahi hai'.

The rule based system stacked up against an entrepreneur in India is very demotivating and crushes animal spirit. A lot of ideas die young.

 

[indus]

Question for the subject experts.

Adani has pledged all his shares in his cement business.

When that happens, defacto control of the company transfers to the entity with which the shares are pledged.

This baffles me a wee bit. Adani acquired cement business, pledged all shares with a third party, took money and did what with it when all he remains is a puppet? So DB runs two cement behemoths through proxy.

Pledging doesn't transfer the control of the company to the banker. Its a collateral. Just like you continue to be the owner of the house and can live in it even if it's mortgaged with bank. Till you keep paying the EMI on time the bank has no control over the house. Its only when you default, that the bank comes running to your home. Similarly the pledged shares do not give control to the lender entity. Control remains with Adani as long as he keeps paying loan on time. After sucessful closure of the debt the pledged shares are freed and the pledging is removed. However if unsuccessful (loan default) the lenders have the right to take control of the company or sell the pledged shares in the market without taking permission from the promoter, to recover their money.

 

[another_armchair]

Pledging doesn't transfer the control of the company to the banker. Its a collateral. Just like you continue to be the owner of the house and can live in it even if it's mortgaged with bank. Till you keep paying the EMI on time the bank has no control over the house. Its only when you default, that the bank comes running to your home. Similarly the pledged shares do not give control to the lender entity. Control remains with Adani as long as he keeps paying loan on time. After sucessful closure of the debt the pledged shares are freed and the pledging is removed. However if unsuccessful (loan default) the lenders have the right to take control of the company or sell the pledged shares in the market without taking permission from the promoter, to recover their money.

Heard once promoter pledges more than 30% of his holding with a single entity, that entity develops business interest and does have a say in the affairs of the company.

Indian banks are cash cows for the influential and powerful, but a foreign entity is a different beast and with 63.11% with foreign promoter, I wonder how much control he can really exercise other than just running the affairs of the company as a proxy.

Ambuja Cements Shareholding Pattern - The Economic Times

Ambuja Cements Shareholding Pattern - Get the latest information on Ambuja Cements Financial Shareholding Pattern on The Economic Times

economictimes.indiatimes.com

 

[FalconSlayers]

 

[sauntheninja]

I know you don't trust CMIE data but unemployment numbers keep going down particularly this month was around 8.0 at the start of September/Late August

 

[Abdus Salem killed]

Confirmed: India to host MotoGP race; 7-year deal signed | Autocar India

Dorna and Fairstreet Sports have signed a 7-year agreement to bring MotoGP to India. Click here to know more.

www.google.com

 

[afako]

Adani in the worst case scenario will be like Essar where value of assets will be recovered in NCLT as most are tangible assets of very high value like cement plant, airports, power plants. ADAG is also one of the outcomes.

 

[nongaddarliberal]

Crux of the matter!

Pajeets who like to play it safe can't digest the fact that an Indian can be so aggressive when it comes to business expansion.

Minor gripe, but a lot of your north Indian names end with jeet. Don't fall into the 4chan meme by repeating their pajeet jibes. It'll start applying to all names ending with jeet, playing into their hands.

Saying this as a Southie where names ending with jeet are extremely rare.

 

[FalconSlayers]

Minor gripe, but a lot of your north Indian names end with jeet. Don't fall into the 4chan meme by repeating their pajeet jibes. It'll start applying to all names ending with jeet, playing into their hands.

Saying this as a Southie where names ending with jeet are extremely rare.

Majority of Northies don’t have such names, Its more of a Punjabi and Haryanvi name, never saw a Gujarati with Paramjeet name or a Uttar Pradeshi with Diljeet like names.