Indian Economy: News and Discussion

[Concard]

Hon Hai, Vedanta's India chip plant expected to start production in 2025 - Focus Taiwan

A joint venture by Taiwan's Hon Hai Precision Industry Co. and India's Vedanta Ltd. to build a semiconductor plant in Gujarat could start producing 12-inch wafers using the 28-nanometer process in 2025, a Vedanta executive said Sunday.

focustaiwan.tw

That's too optimistic. If they did complete the fab construction in 2 years and start production some time in 2025 that will be perhaps be the biggest surprise to me who has gotten used to endless delays in many projects in India since I was born. I hope they succeed because our electronic ecosystem will flourish along with it. If that report is anything to go by it will be 28nm node which will be a huge deal. This will make us self reliant in all applications except in personal pc's, mobile phones, server grade chips and other critical applications where processing power is crucial to achieve results in short span of time.

 

[another_armchair]

If any doubt remained as to his loyalties .
Can you imagine the gall..
It's weird that nobody is calling out this brown coolie ..

He has probably done the math related to the cascading effect of every drop of $100 billion in Chinese GDP and exports will have on the junk private bonds whiteys are invested in and the CDO's backing those bonds rated A++ to F++(Fuckawl).

 

[Abdus Salem killed]

 

[Abdus Salem killed]

Vedanta-Foxconn to establish chip plant at Gujarat's Dholera: Minister Rajeev Chandrasekhar | Ahmedabad News - Times of India

India's first semiconductor fab unit will be set up in Dholera by a joint-venture entity formed by Vedanta Limited and Foxconn for a $20 billion inve

m.timesofindia.com

 

[Abdus Salem killed]

@FalconSlayers @another_armchair stop laughing at my posts

 

[another_armchair]

@FalconSlayers @another_armchair stop laughing at my posts

10 years from now when both state governments trash the MoU -

'Agarwal ji - The chips are down. I repeat - The chips are all down'.

 

[Love Charger]

@jik60. Sir please post pics of artillery shells of munitions india limited

 

[FalconSlayers]

@FalconSlayers @another_armchair stop laughing at my posts

A mining company and an electronics assembly firm can never built chip fabs, plus that IGSS ventures doesn’t even have a website nor the finances to pull off such a project.

ISMC should first complete land acquisition and then talk of rolling out semicons.

 

[another_armchair]

A mining company and an electronics assembly firm can never built chip fabs, plus that IGSS ventures doesn’t even have a website nor the finances to pull off such a project.

ISMC should first complete land acquisition and then talk of rolling out semicons.

 

[another_armchair]

Godrej creating hurdles for bullet train: Maha govt

The Maharashtra government on Tuesday told the Bombay High Court that Godrej & Boyce Manufacturing Co Ltd had left no stone unturned to create unnecessary hurdles for acquisition of land, owned by the company, for the Ahmedabad-Mumbai bullet

news.rediff.com

The Maharashtra government on Tuesday told the Bombay High Court that Godrej & Boyce Manufacturing Co Ltd had left no stone unturned to create unnecessary hurdles for acquisition of land, owned by the company, for the Ahmedabad-Mumbai bullet train project.

A division bench of Justices Nitin Jamdar and Sharmila Deshmukh was hearing a petition filed by Godrej & Boyce Manufacturing Co Ltd challenging an order of September 15, 2022 passed by the state government awarding compensation to it for land acquisition for the project.

The company, in their petition, sought that the high court direct the state government to not start the process of awarding compensation and initiate possession proceedings.

The state government, in its affidavit filed by deputy collector (land acquisition) Jagatsing Girase, termed the company's allegations as frivolous, baseless, unwarranted and unsubstantiated.

It also informed the court that the acquiring body of the state government has already deposited a sum of around Rs 264 crore towards compensation on October 17.

Advocate General Ashutosh Kumbhakoni, appearing for the state government, told the bench that as on date no notice for taking possession of the land has been issued.

The court then posted the matter for further hearing on November 10 and said if and when such a notice was issued, it would grant the petitioner company reasonable time to approach the court.

The state government also alleged that the company had left no stone unturned to create unnecessary hurdles and impediments at every stage of the acquisition proceedings to ensure that the same lapse.

The respondent authorities are making every effort to ensure that the project does not face hurdles from private persons and even catered to the whims and fancies of the petitioner company.

Yet, the petitioner's unreasonable demands are ever increasing and changing as per their caprice and this has led to escalation of the cost of the project approximately by more than Rs 1,000 crore, the affidavit stated.

In its affidavit, the state government emphasised on the importance of the bullet train project and said the Ahmedabad-Mumbai high-speed rail corridor project is a priority project for the Government of India.

It will be India's first high speed rail line and shall transform the passenger transport system of the country with state-of-the-art technology for the benefit of the public at large, it said, adding that once functional, the train would serve 17,900 passengers every day. The total cost of the project is at about Rs 1 lakh crore.

The project is a highly specialised and technical project of enormous high value and is required to be completed within the specified stringent timelines, the affidavit said.

The state government further cited that several negotiations were held to arrive at an amicable resolution for acquisition of land, but when these failed, the government was left with no alternative but to proceed with the acquisition of the alternate land identified and owned by the company.

The company and the government have been embroiled in a legal dispute since 2019 over acquisition of the company-owned land in suburban Vikhroli for the bullet train project.

Of the total 508.17 km of rail track between Mumbai and Ahmedabad, about 21 km is planned to be underground.

One of the entry points to the underground tunnel falls on the land at Vikhroli (owned by Godrej). -- PTI

 

[Abdus Salem killed]

A mining company and an electronics assembly firm can never built chip fabs, plus that IGSS ventures doesn’t even have a website nor the finances to pull off such a project.

ISMC should first complete land acquisition and then talk of rolling out semicons.

Have you been replaced by a paki ?

 

[sauntheninja]

Godrej creating hurdles for bullet train: Maha govt

The Maharashtra government on Tuesday told the Bombay High Court that Godrej & Boyce Manufacturing Co Ltd had left no stone unturned to create unnecessary hurdles for acquisition of land, owned by the company, for the Ahmedabad-Mumbai bullet

news.rediff.com

The Maharashtra government on Tuesday told the Bombay High Court that Godrej & Boyce Manufacturing Co Ltd had left no stone unturned to create unnecessary hurdles for acquisition of land, owned by the company, for the Ahmedabad-Mumbai bullet train project.

A division bench of Justices Nitin Jamdar and Sharmila Deshmukh was hearing a petition filed by Godrej & Boyce Manufacturing Co Ltd challenging an order of September 15, 2022 passed by the state government awarding compensation to it for land acquisition for the project.

The company, in their petition, sought that the high court direct the state government to not start the process of awarding compensation and initiate possession proceedings.

The state government, in its affidavit filed by deputy collector (land acquisition) Jagatsing Girase, termed the company's allegations as frivolous, baseless, unwarranted and unsubstantiated.

It also informed the court that the acquiring body of the state government has already deposited a sum of around Rs 264 crore towards compensation on October 17.

Advocate General Ashutosh Kumbhakoni, appearing for the state government, told the bench that as on date no notice for taking possession of the land has been issued.

The court then posted the matter for further hearing on November 10 and said if and when such a notice was issued, it would grant the petitioner company reasonable time to approach the court.

The state government also alleged that the company had left no stone unturned to create unnecessary hurdles and impediments at every stage of the acquisition proceedings to ensure that the same lapse.

The respondent authorities are making every effort to ensure that the project does not face hurdles from private persons and even catered to the whims and fancies of the petitioner company.

Yet, the petitioner's unreasonable demands are ever increasing and changing as per their caprice and this has led to escalation of the cost of the project approximately by more than Rs 1,000 crore, the affidavit stated.

In its affidavit, the state government emphasised on the importance of the bullet train project and said the Ahmedabad-Mumbai high-speed rail corridor project is a priority project for the Government of India.

It will be India's first high speed rail line and shall transform the passenger transport system of the country with state-of-the-art technology for the benefit of the public at large, it said, adding that once functional, the train would serve 17,900 passengers every day. The total cost of the project is at about Rs 1 lakh crore.

The project is a highly specialised and technical project of enormous high value and is required to be completed within the specified stringent timelines, the affidavit said.

The state government further cited that several negotiations were held to arrive at an amicable resolution for acquisition of land, but when these failed, the government was left with no alternative but to proceed with the acquisition of the alternate land identified and owned by the company.

The company and the government have been embroiled in a legal dispute since 2019 over acquisition of the company-owned land in suburban Vikhroli for the bullet train project.

Of the total 508.17 km of rail track between Mumbai and Ahmedabad, about 21 km is planned to be underground.

One of the entry points to the underground tunnel falls on the land at Vikhroli (owned by Godrej). -- PTI

Godrej own huge lands in Mumbai yet do nothing with it

 

[Suryavanshi]

Godrej own huge lands in Mumbai yet do nothing with it

How did godrej end up with so much land?

 

[FalconSlayers]

Have you been replaced by a paki ?

Yes Alhumdulillah I’ve become Momin and now I’ll destroyyy Indeeya with grape Paxtan Army.

BS apart, its logical not a rant, GoI’s semicon plans as of now is nothing more than thin air, only ISMC is genuine rest of them are scams. Unless ISMC starts building their fabs I won’t consider it to be happening.

 

[another_armchair]

How did godrej end up with so much land?

Saaar... give me land saar... I will set up factory... I will set up industry saaar... here take some bribe saar.

Hold onto the land for decades and eventually sell it to real estate companies or co-develop it.

 

[NutCracker]

That's too optimistic. If they did complete the fab construction in 2 years and start production some time in 2025 that will be perhaps be the biggest surprise to me who has gotten used to endless delays in many projects in India since I was born. I hope they succeed because our electronic ecosystem will flourish along with it. If that report is anything to go by it will be 28nm node which will be a huge deal. This will make us self reliant in all applications except in personal pc's, mobile phones, server grade chips and other critical applications where processing power is crucial to achieve results in short span of time.

EV boom will be huge by then..
Income growth will lead EV scooters + cars + smart TV demand.. all are perfect candidates which will utilise 28nm processors for display units.

 

[Suryavanshi]

You guys ever think there might not be enough job for the entire population?
I mean we just run out of jobs to give out. With the advent of automation 100 persons job can be done by 10 people lets say 20 to 30 folks get absorbed in making the machines for automation system but still there will be at least 50 folks left.

I think the 443 people per square km Population density of India is a damn good handicap. Small Nations with high pop density like Sinagpore and Hong Kong can overcome it due to attracting investment but not so much for large countries.
Even the case of China is the same they are functioning because they take away jobs from the western world.

Lets put out Import and Export in both service and Manufacturing out of question and lets just say If a country like ours were to have jobs oriented in serving its own population, will there be enough job for everyone?

 

[another_armchair]

Latest by Byjus -​

• Byjus fires 2500 employees
• Byjus raises $250 million in fresh funding round
• Byjus renews sponsorship of Kerala blasters

 

[Suryavanshi]

Latest by Byjus -​

• Byjus fires 2500 employees
• Byjus raises $250 million in fresh funding round
• Byjus renews sponsorship of Kerala blasters

This might be normal to them they hire around March-April and fire folks before the festive season so no bonus no benefits nothing.

 

[another_armchair]

ACC Q3 Results: Cement maker posts surprise quarterly loss on higher expenses

The company's standalone loss was 910.9 million Indian rupees ($11.05 million) for the three months ended Sept. 30, compared with a profit of 4.49 billion rupees a year ago.

economictimes.indiatimes.com

Indian cement maker ACC Ltd NSE -2.24 % on Monday reported a surprise loss for the September-quarter, hurt by higher fuel and power expenses.

• Recently acquired by Adani
• All promoter shares pledged with a foreign entity

Hum dekhenge.