Indian Economy: News and Discussion

[Concard]

Example of new construction in Surat. In the last decade, almost few hundred 10-15fl apartment buildings have come up. A giant concrete jungle, but it doesnt look so bad because there are little to no slums in this part of the city.

View attachment 206843

View attachment 206844
View attachment 206845
View attachment 206846
View attachment 206847

But the city needs to build taller and build proper footpaths. a few G+30 towers would look much nicer and spacious compared to 8-10 G+15 towers that property builders like to build in Surat. There is a height restriction in many parts of the city due to the airport though.

Now if they plant some trees in those gaps between buildings, have rain water harvesting system, have solar panels on their rooftops those buildings can last for long and quality of life will be also be better for people as a whole.

 

[Haldilal]

Ya'll Nibbiars The LOGOS Property to invest 650 crore rupees to set up a large-scale logistics park at Chakan, Pune in Maharashtra. The co has acquired land for this project, which will be its fifth logistics park in India.

 

[another_armchair]

Karnataka Congress’s free power pledge fuels electric cooktop demand | Mysuru News - Times of India

Showrooms of white-goods in and around Mysuru are seeing an unusual demand for electric cooktops from an unlikely segment: rural areas.

timesofindia.indiatimes.com

 

[Haldilal]

Ya'll Nibbiars

Blackstone-backed Lumina CloudInfra begins work on hyperscale data centre in Navi Mumbai

The state-of-the-art facility is set to encompass multiple data centre buildings, boasting an impressive capacity that surpasses 60 megawatts of critical IT load.

www.moneycontrol.com

Blackstone’s Lumina CloudInfra to invest over $300 mln to set up Navi Mumbai hyperscale data center - The Economic Times

“India is a high-growth market, with data centre demand expected to significantly increase, driven by rapidly growing data consumption, the digitization of the economy, the onset of 5G and data localisation trends. Our first data center is an important milestone for Lumina and Indias digital...

m.economictimes.com

Mumbai emerges as third-biggest data centre market in Asia-Pacific: Report

Data centre in India: Mumbai was ranked third on the list in terms of the total capacity of data centre services, according to the Q1 2023 report. The live capacity (operational capacity) stood at 270 MW

www.business-standard.com

Google expands cloud infra in India, inks lease for 3.81 lakh sq ft data center in Navi Mumbai

Global majors like Microsoft and Amazon apart from Google have already started setting up their hyperscale data centers in India. This clearly indicates the rising preference for India among global data centre majors and is attributed to the data localisation norms and the governments proposed...

m.economictimes.com

Mumbai to House the Biggest Data Centres in India

The deputy chief minister announced that the state would build 'another' Mumbai in between Mumbai - Navi Mumbai, which will become the home to India's largest data centres and be the hub for the country's Digital Economy and Industry 4.0.

telecomtalk.info

https://www.financialexpress.com/industry/shanghai-tokyo-mumbai-emerge-as-top-data-centre-markets-in-apac-region-report/3097886/lite/

https://www.datacenterdynamics.com/en/news/colt-opens-new-data-center-in-osaka-and-planning-new-mumbai-campus/

Web Werks-Iron Mountain JV’s First Greenfield Data Center launched in Mumbai

The opening of Iron Mountain and Web Werks’ first greenfield data center marks an important step in advancing our Joint Venture’s position as one of India’s leading data center providers.

www.zeebiz.com

 

[jai jaganath]

Ya'll Nibbiars

Blackstone-backed Lumina CloudInfra begins work on hyperscale data centre in Navi Mumbai

The state-of-the-art facility is set to encompass multiple data centre buildings, boasting an impressive capacity that surpasses 60 megawatts of critical IT load.

www.moneycontrol.com

Blackstone’s Lumina CloudInfra to invest over $300 mln to set up Navi Mumbai hyperscale data center - The Economic Times

“India is a high-growth market, with data centre demand expected to significantly increase, driven by rapidly growing data consumption, the digitization of the economy, the onset of 5G and data localisation trends. Our first data center is an important milestone for Lumina and Indias digital...

m.economictimes.com

Mumbai emerges as third-biggest data centre market in Asia-Pacific: Report

Data centre in India: Mumbai was ranked third on the list in terms of the total capacity of data centre services, according to the Q1 2023 report. The live capacity (operational capacity) stood at 270 MW

www.business-standard.com

Google expands cloud infra in India, inks lease for 3.81 lakh sq ft data center in Navi Mumbai

Global majors like Microsoft and Amazon apart from Google have already started setting up their hyperscale data centers in India. This clearly indicates the rising preference for India among global data centre majors and is attributed to the data localisation norms and the governments proposed...

m.economictimes.com

Mumbai to House the Biggest Data Centres in India

The deputy chief minister announced that the state would build 'another' Mumbai in between Mumbai - Navi Mumbai, which will become the home to India's largest data centres and be the hub for the country's Digital Economy and Industry 4.0.

telecomtalk.info

https://www.financialexpress.com/industry/shanghai-tokyo-mumbai-emerge-as-top-data-centre-markets-in-apac-region-report/3097886/lite/

https://www.datacenterdynamics.com/en/news/colt-opens-new-data-center-in-osaka-and-planning-new-mumbai-campus/

Web Werks-Iron Mountain JV’s First Greenfield Data Center launched in Mumbai

The opening of Iron Mountain and Web Werks’ first greenfield data center marks an important step in advancing our Joint Venture’s position as one of India’s leading data center providers.

www.zeebiz.com

I am literally seeing infront of my eyes the data centres in NM being built I mean yeah few have started construction but still so many are proposed and certainty is damn high
But I can't find the particular reason for why panvel leading I this front I mean why not other cities like pune etc receiving this yeah I know pune has sizable data centers but still why panvel

 

[Haldilal]

Ya'll Nibbiars The Nykaa’s Financials in FY23, Revenue 5,143.8 Crore. Net Profit - 21 Crore rupees.

 

[SKC]

Ya'll Nibbiars The Nykaa’s Financials in FY23, Revenue 5,143.8 Crore. Net Profit - 21 Crore rupees.

Well finally they are managing to have some profit. Whether low or high important thing is they are having profit unlike other retailers.

 

[astransastra]

Might seem a bit off topic but i am concerned about how the PSUs like DRDO or Space and Technology organizations like ISRO can continue to attract talent if government caps the salaries of its Directors at 2 Lakh 50 thousand per month. For that matter even service chiefs are not eligible to get more than 2.5 lpm ? Back in 1990s these pay scales used to be attractive by then standards of living. But right now in the last 2-3 years the salaries in IT and service sector have hiked so much that, many software engineers who haven't even reached their mid careers are already earning 30 lakh and above salaries. Forget about Director, AVP, VP level employees who are now earning more than 1 crore per month. Please don't get me wrong but now a talented person unless he/she is freakishly patriotic won't be willing to join DRDO,ISRO or any PSUs and ruin their career. It may feel alright for arm chair critics like us to complain about the Tejas Mk1,MK2 missed dead lines and asking for accountability and rolling heads...but seriously we have to question how can the people working with those salaries get motivated when they see their mediocre friends and peers from colleges who are earning above and beyond them just because they are in IT?

Just now googled and found there are 12.3 Lakh people in India paying in the tax group of earning 25-50 Lakhs. This is just the organized sector (also called formal sector which pays taxes), there may be 2 to 3 times that number who earn as much but don't pay taxes. So how can government motivate its PSU employees?

 

[Haldilal]

Ya'll Nibbiars

 

[johnj]

Might seem a bit off topic but i am concerned about how the PSUs like DRDO or Space and Technology organizations like ISRO can continue to attract talent if government caps the salaries of its Directors at 2 Lakh 50 thousand per month. For that matter even service chiefs are not eligible to get more than 2.5 lpm ? Back in 1990s these pay scales used to be attractive by then standards of living. But right now in the last 2-3 years the salaries in IT and service sector have hiked so much that, many software engineers who haven't even reached their mid careers are already earning 30 lakh and above salaries. Forget about Director, AVP, VP level employees who are now earning more than 1 crore per month. Please don't get me wrong but now a talented person unless he/she is freakishly patriotic won't be willing to join DRDO,ISRO or any PSUs and ruin their career. It may feel alright for arm chair critics like us to complain about the Tejas Mk1,MK2 missed dead lines and asking for accountability and rolling heads...but seriously we have to question how can the people working with those salaries get motivated when they see their mediocre friends and peers from colleges who are earning above and beyond them just because they are in IT?

Just now googled and found there are 12.3 Lakh people in India paying in the tax group of earning 25-50 Lakhs. This is just the organized sector (also called formal sector which pays taxes), there may be 2 to 3 times that number who earn as much but don't pay taxes. So how can government motivate its PSU employees?

Haw many Indian family earn more than 2l PM ?
How long the people earning 30 lakh and above salaries keep their jobs ?
How many Indians earn 30 lakh and above salaries ?
What about customers - total numbers & competitiveness ?
FYI - people earning/making money more than 10l PM is building a future for human race if you exclude doctors & ads, IT sectors makes a lots of money thanks to ads.
FYI= there is huge difference between IIT & IIM, engineers gets a low salary compared to MBA, only reason IT people getting huge salaries due to foreign currency power, it is similar to a nurse/techiest working in gulf vs Indian village. Engineers makes only less than 1.2l PM, average less than 60k pm and as low as 10k pm.
you can see a large no.of engineering choosing civil services, police, fire force ldc etc due to better salary and future and start up. Engineer salary depends on new innovation or dangerous/challenges involved, IT sector depends on ads.
What is the salary earn by LM engineer and top IT sectors in US ?

 

[IndianEagle2000]

germany recession: Germany enters recession after GDP falls for second successive quarter - The Economic Times

m-economictimes-com.cdn.ampproject.org

Germany's GDP fell by 0.3% in the first quarter of 2022, marking the country's second successive quarter of contraction and slide into recession. This was due to the energy crisis unleashed by Russia's invasion of Ukraine, which led to dwindling energy supplies and stoked inflation. Household consumption also dropped.

Considering India needs to overtake Germany to become the 4th largest economy. The german recession just fastracked the process.

 

[Haldilal]

Ya'll Nibbiars The Digha Data Centre, First Phase, 2,500 crore Invetsment at Navi Mumbai.

 

[sameer3694]

Prayagraj-based NAeL to start manufacturing heavy-lifting capacity drones | Allahabad News - Times of India

In a first in the state, the Naini Aerospace engineering limited (NAeL), a wholly owned subsidiary of Hindustan Aeronautics Limited under the administ

m.timesofindia.com

StemCures to inject $54m in India's largest stem cell lab in Telangana | Hyderabad News - Times of India

US-based StemCures is gearing up to inject $54 million in setting up what is touted as India's largest stem cell manufacturing lab in Telangana. The

timesofindia.indiatimes.com

 

[IndianEagle2000]

Vedanta Foxconn JV appoints Mike Young for overseeing execution of manufacturing at the upcoming semiconductor fab.

With over 34 years of experience, Young will oversee the execution of manufacturing and operational processes.

Before joining Vedanta, Young was CEO of Systems on Silicon Manufacturing Company (SSMC), Singapore. Prior to this, he served as CEO of X-FAB Sarawak, Malaysia.

He has extensively worked in areas of operations, yield, and device engineering with leading companies like X-FAB UK, STMicroelectronics, Siemens, Atmel, and Plessey Semiconductors.

Vedanta Foxconn JV appoints Mike Young for overseeing execution of manufacturing at the upcoming semiconductor fab

His appointment comes at a time when Vedanta is awaiting India Semiconductor Mission’s approval for its application.

www.google.com

 

[Haldilal]

Ya'll Nibbiars The Foxconn Tamil Nadu Plant.

 

[Cheran]

 

[IndianEagle2000]

Some nice developments related Vedanta Foxconn JV.

40nm node -

Vedanta Foxconn Semiconductors Ltd (VFSL) has signed initial pacts with two companies for technology transfer--US-headquartered GlobalFoundries and European chip-maker STMicroelectronics (STMicro).

VFSL has an agreement with “a technology partner to transfer and qualify a proven, production-grade, high volume, technology with licenses for Integrated Circuit manufacturing in India,” CEO David Reed told ET. “However, we also have in place an NDA (non-disclosure agreement) because of which we are unable to disclose further details.”

Vedanta-Foxconn chip factory set to get green light

This will pave the way for the Centres bid to establish India as a global hub for semiconductors.

www.google.com

28nm node -

For the 28-nanometer technology, the company has an agreement with IMEC.

However, they're an R&D facility, and sometimes things that work in R&D don't perform the same way in high volume. We have most of the know-how for the 28-nanometer technology, and we'll transfer the IMEC flow into the running 40-nanometer factory in parallel. We'll ramp up the 40-nanometer technology first, and then finish up with the 28-nanometer technology.

At the vanguard of India's semiconductor ambition: a conversation with Foxconn-Vedanta JV CEO

India is putting all its weight behind efforts to manufacture semiconductors locally. At the forefront of this is the joint venture between Foxconn and Vedanta. Speaking to DIGITIMES Asia recently, David Reed, CEO of Vedanta-Foxconn Semiconductors explained that their focus will be on bulk...

www.digitimes.com

 

[Crazywithmath]

First of all, the problem is we are not discussing the trade between India and China, but India with ASEAN.

Exports channeled through ASEAN are literally chinese exports with minor value additions; so yes it entirely makes sense to talk about china. China's share in global trade of ASEAN nations is nearing 25% (up from <5% in the 90's) and ASEAN acts as a transit hub of chinese intermediates; with chinese value addition @ an weighted avg of ~ 13% (as of 2018) in finished goods consumed in ASEAN (up from 1% back in china's pre-WTO period). If exports originating from ASEAN are considered; especially textiles and electronics, the share of chinese value addition would go up many times (although the estimates vary from 25-30% to as high as 60% due to constantly evolving natures of supply chain post trade war and covid). Some portions of chinese supply chains were also relocating to economies like - IND, BAN etc and they still are but that is beyond the scope of this rebuttal.

The US admin knew they could not replace suppliers overnight. Hence, pushed whatever little pie they could into other economies and tariffs were specifically designed to hurt finished goods (were slated to be geared towards intermediates gradually).

Of course this is the picture post trade war and covid but as I already mentioned chinese supply chains were already being established in and around ASEAN even before 2010 and only idiots would fail to notice that.

Are you suggesting that India should avoiding any market that Chinese products show up?

That should have been an end goal in itself; it does not make any sense to play fair with a competitor. Does the chinese admin play buddies with JAP or Kor? It is precisely why India opted out of that RCEP shitshow; the interest of the GoI always lies in decoupling from china; to whatever extent it may be possible.

Secondly, yes, it is right that China imposes higher non-tariff barriers, but on the overall trade barriers (including Tariff and non-tariff):

International Trade Barrier Index 2023

Source: International Trade Barrier Index

Non-tariff barriers (the bigger, the better):

Vietnam: 1.33
China: 1.91
Russia: 1.96
India: 2.16
Australia: 2.49
US: 5.52

Yes, India is little better than China on non-tariff barriers, but if you look at the overall trade barrier index:

Overall trade barriers index:
Australia: 3
US: 4.23
Vietnam: 4.75
China: 4.8
Russia: 5.53
India: 5.99


Quote: "India and Russia deployed the most trade barriers greatly restricting trade and imposing other economic and social costs. "

Yes, don't kidding yourselves.

Take a prinout of their report, pack it with some lubes and send it to your local ccp shakha for all I care.

From publishing arbitray quality control measures in chinese (so that cannot be translated easily), very often handwritten to flooding foreign markets with goods produced at dirt cheap rates (old school predatory pricing); from restricting foreign tech giants in the name of muh western propaganda to kicking out foreign IT/consultancy farms, from forcing joint ventures on outsiders to mandatory sharing of know-how' and know-why; from opaque export subsidies to routine dumping and rerouting of cheap (often counterfeit) products; from threatening foreign manufacturers to abruptly halting trades over some random territorial disputes; not to mention the shear scale of industrial espionage and then routinely crying hoax at WTO sessions - all these add up to trade protectionism and no index can measure its true cost. Crying over India's tariffs does not help; at least we are transparent. Even then these so-called thinktanks do not talk about weighted avg tariffs (at par with competitors) which is an even better indicator and bangs their heads over simple avg tariffs (anyway declining since 2020).

Also, did not really intend to compare trade protectionsim; you were subtly trying to act like a typical wumao shitposter and delivering lectures on how India should get chummy with ballooning imports from ASEAN and how we would not be beating chinese exports otherwise while simultaneously ignoring that ASEAN nations have been rerouting chinese products with/without minor value additions for years.

Ultimately, seems alright if we are indeed being unfair to exporters (read ASEAN aka china); it is about time someone shows them the mirror.

You were being arrogant and cocky; got replied in kind. You could consider writing posts on pakistani forums though; those mentally challenged self appointed custodians of Islam would anyway be happy receiving some copium materials amid an everlasting economic collapse or else, (as I already mentioned) pipe down.

 

[shade]

Exports channeled through ASEAN are literally chinese exports with minor value additions; so yes it entirely makes sense to talk about china. China's share in global trade of ASEAN nations is nearing 25% (up from <5% in the 90's) and ASEAN acts as a transit hub of chinese intermediates; with chinese value addition @ an weighted avg of ~ 13% (as of 2018) in finished goods consumed in ASEAN (up from 1% back in china's pre-WTO period). If exports originating from ASEAN are considered; especially textiles and electronics, the share of chinese value addition would go up many times (although the estimates vary from 25-30% to as high as 60% due to constantly evolving natures of supply chain post trade war and covid). Some portions of chinese supply chains were also relocating to economies like - IND, BAN etc and they still are but that is beyond the scope of this rebuttal.

The US admin knew they could not replace suppliers overnight. Hence, pushed whatever little pie they could into other economies and tariffs were specifically designed to hurt finished goods (were slated to be geared towards intermediates gradually).

Of course this is the picture post trade war and covid but as I already mentioned chinese supply chains were already being established in and around ASEAN even before 2010 and only idiots would fail to notice that.



That should have been an end goal in itself; it does not make any sense to play fair with a competitor. Does the chinese admin play buddies with JAP or Kor? It is precisely why India opted out of that RCEP shitshow; the interest of the GoI always lies in decoupling from china; to whatever extent it may be possible.



Take a prinout of their report, pack it with some lubes and send it to your local ccp shakha for all I care.

From publishing arbitray quality control measures in chinese (so that cannot be translated easily), very often handwritten to flooding foreign markets with goods produced at dirt cheap rates (old school predatory pricing); from restricting foreign tech giants in the name of muh western propaganda to kicking out foreign IT/consultancy farms, from forcing joint ventures on outsiders to mandatory sharing of know-how' and know-why; from opaque export subsidies to routine dumping and rerouting of cheap (often counterfeit) products; from threatening foreign manufacturers to abruptly halting trades over some random territorial disputes; not to mention the shear scale of industrial espionage and then routinely crying hoax at WTO sessions - all these add up to trade protectionism and no index can measure its true cost. Crying over India's tariffs does not help; at least we are transparent. Even then these so-called thinktanks do not talk about weighted avg tariffs (at par with competitors) which is an even better indicator and bangs their heads over simple avg tariffs (anyway declining since 2020).

Also, did not really intend to compare trade protectionsim; you were subtly trying to act like a typical wumao shitposter and delivering lectures on how India should get chummy with ballooning imports from ASEAN and how we would not be beating chinese exports otherwise while simultaneously ignoring that ASEAN nations have been rerouting chinese products with/without minor value additions for years.

Ultimately, seems alright if we are indeed being unfair to exporters (read ASEAN aka china); it is about time someone shows them the mirror.

Lastly, take a prinout of their report, pack it with some lubes and send it to your local ccp shakha for all I care. You were being arrogant and cocky; got replied in kind. You could consider writing posts on pakistani forums though; those mentally challenged self appointed custodians of Islam would anyway be happy receiving some copium materials amid an everlasting economic collapse or else, (as I already mentioned) pipe down.

Century of Humiliation but in forum post form

 

[GigaChadBharatiya]

Ya'll Nibbiars The Pantheon build con Data Centre, Mumbai. Investment 1,000 crore plus.

View attachment 202885

Haldi, whats status if refinery in MH? Still protests or there is hope?
Also Vadhavan port?