Indian Economy: News and Discussion

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They had a phased manufacturing programme, incentives based on subcomponent indeginization/local sourcing.

Phased Manufacturing Programme | Ministry of Electronics and Information Technology, Government of India

www.meity.gov.in

But this didn't give the desired results, so they decided to build export scale for electronics first before doing the component-level indeginization like all other ESDM for export countries have in the past, one sarkar think-tank put out a report regarding the same, and later the MoS Chandrasekhar announced it directly as in this article

Large scale exports key to make India a global electronics hub: MoS Rajeev Chandrasekhar

Achieving the scale of exports and production will not only help the electronics sector to grow domestically, but also meet the goal of the government's 'Make in India for the World' programme and achieve the target of a trillion-dollar digital economy by 2025-26, the minister said at an event...

economictimes.indiatimes.com

Although the electronics sector is the first recipient of production-linked incentive (PLI) schemes, exporting at scale to the global market and increasing the share of total domestic value addition (DVA) cannot be simultaneously achieved without a competitive domestic ecosystem of components and suppliers, Minister of State for IT and Electronics, Rajeev Chandrasekhar said here on Monday.

Anyway they are on a good path now, since they're focusing on exports rather than some import substitution meme, the earlier plans were import substition with side beneficiaries being exports, now it's the other way around.

RRR is like many hormonal teens & youth out here. Chat mangni pat byah , raat ko goli daagna , subah ko baccha .

No, he's a narrative peddling snake, however most of his narratives are 80 IQ, like "India must focus on services vs manufacturing" and "Only assembly is being done, not manufacturing" ignoring that even China does "assembly" only , no complex product out there is completely Made in China with all subcomponents being Chinese.

Raghuram Rajan is yet another bourgeois NRI Piddi like Sam Shitroda in service of the Clown Prince.

 

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Detailed article on possible Tesla plans for an Indian factory , ofc the content is sutro se pata chala hai so take it with a pinch of salt.

Tesla steps to revive India plans for projected capacity expansion - ET Auto

The India rethink is said to be the result of Tesla's plans to make 20 million electric cars a year by 2030, an exponential jump from 1.3 million sold last year. Musk has also stated that to reach this goal it will require ten to a dozen-odd gigafactories around the world- from just five located...

auto.economictimes.indiatimes.com

Govt wants to make India an electronics repair hub, the current model works by submitting your kaput electronics to the service center, from here your electronics item gets shipped to China, where it is repaired, and then shipped to other countries to be provided to customers as a refurbished piece when they replace their under-warranty but broken devices, this is quite a niche thing, so seems the IAS n!gg3rs in the GoI Electronics ministry are not n!ggers at all and doing good work

India to lure manufacturers with electronics repair pilot project - Times of India

India Business News: Despite attracting global giants such as Apple and Xiaomi, India currently lacks a dominant electronics repair industry, which is estimated to be wort

timesofindia.indiatimes.com

 

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India becomes net copper importer for a fifth year in a row

India’s copper imports witnessed a 15 per cent year-on-year jump in financial year 2022-23.

www.thehindubusinessline.com

Hope Stalin, other DeeMKas, Pastors, Priests and 60 IQ Tuticorin villagers are basking in their glory now.

Sterlite Copper plant in Thootukudi was built mainly under Jayamma's blessings, ofc Aggarwal forgot to donate to Stalin + Chinkies wanted to flood us with refined copper products and so you have this.

 

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From Doom to Bloom: The turnaround story of Indian banks’ bad loans and profits

India's banking system is witnessing a revival of sorts of late after suffering from seething bad loan issues for nearly a decade. Policymakers' efforts and banks' measures have ensured banks are on a stable footing, for now. However, if history is anything to go by, this turnaround in fortunes...

economictimes.indiatimes.com

We need a healthy/stable banking sector to support our industrial and infrastructure ambitions.

 

[Crazywithmath]

No, he's a narrative peddling snake, however most of his narratives are 80 IQ, like "India must focus on services vs manufacturing" and "Only assembly is being done, not manufacturing" ignoring that even China does "assembly" only , no complex product out there is completely Made in China with all subcomponents being Chinese.

Raghuram Rajan is yet another bourgeois NRI Piddi like Sam Shitroda in service of the Clown Prince.

Remember reading his opinion piece exploring potential export opportunities of 'tele-medicine' and 'online health services' (to put it simply, Indian doctors and nurses would be attending overseas patients online); this was enough of a red flag for me. We have a massive shortage of doctors in rural regions, doctors in govt hospitals are forced to work overtime and this guy was proposing export of muh health services; not to mention how tightly regulated medical professionals tend to be all across the globe and nobody would allow civilians to get treated by foreign doctors, that too online.

India becomes net copper importer for a fifth year in a row

India’s copper imports witnessed a 15 per cent year-on-year jump in financial year 2022-23.

www.thehindubusinessline.com

Hope Stalin, other DeeMKas, Pastors, Priests and 60 IQ Tuticorin villagers are basking in their glory now.

Sterlite Copper plant in Thootukudi was built mainly under Jayamma's blessings, ofc Aggarwal forgot to donate to Stalin + Chinkies wanted to flood us with refined copper products and so you have this.

Adani's plant (Kutch Copper Ltd), once completed, would make India a net exporter again (planned peak capacity of 0.5 MTPA). Post Hindenberg saga, things slowed down.

 

[aragonishere]

RBI Annual Report was released today. Real GDP growth at 7%.

 

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Remember reading his opinion piece exploring potential export opportunities of 'tele-medicine' and 'online health services' (to put it simply, Indian doctors and nurses would be attending overseas patients online); this was enough of a red flag for me. We have a massive shortage of doctors in rural regions, doctors in govt hospitals are forced to work overtime and this guy was proposing export of muh health services; not to mention how tightly regulated medical professionals tend to be all across the globe and nobody would allow civilians to get treated by foreign doctors, that too online.

He pulls things out of his ass to support his patrons wanting to play oppposite-opposite to anything Modi does.
Services sector is as atmanirbhar as it gets, it doesn't need those sarkari gibs and support like proper manufacturing does.
Considering we have the IT Coolie services industry in the bag, it doesn't make sense to portray that versus manufacturing, since Service sector losing nothing from GoI's laser focus on manufacturing and infrastructure.

btw thanks for the Adani Copper plant thing, didn't know he's actually into making stuff, I thought he's infra only.

 

[Cheepek]

RBI Annual Report was released today. Real GDP growth at 7%.

Looks like last quarter was above expectation. Also last years' was revised upwards, so...

 

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RBI Annual Report was released today. Real GDP growth at 7%.

inb4 crying about fudged figures.

 

[FalconSlayers]

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[Tejbrahmastra]

GDP Growth rate at 7%

 

[FalconSlayers]

View attachment 208136
GDP Growth rate at 7%

Means shit when your exchange rate screws you.
In 2021 our GDP was $3.2 trillion, in 2022 it was just $3.34 trillion. And Budget Estimates point at just $3.6 trillion for current year (if rupee doesn't go down further).

 

[Tejbrahmastra]

Means shit when your exchange rate screws you.
In 2021 our GDP was $3.2 trillion, in 2022 it was just $3.34 trillion. And Budget Estimates point at just $3.6 trillion for current year (if rupee doesn't go down further).

It dosen't work like that. GDP is calculated on the base year, currently I guess its 2011. Our nominal GDP at base price(2011 rate) is around 160 lakh cr while at current price nominal gdp is around 280 lakh cr.

 

[FalconSlayers]

It dosen't work like that. GDP is calculated on the base year, currently I guess its 2011. Our nominal GDP at base price(2011 rate) is around 160 lakh cr while at current price nominal gdp is around 280 lakh cr.

Lear difference between constant and current prices, and no our GDP current prices is ₹272 trillion not 280.

 

[Tejbrahmastra]

Lear difference between constant and current prices, and no our GDP current prices is ₹272 trillion not 280.

Yes, that's why I gave you approximate figure for both bases, so how does rupee devaluation effect GDP?? When the rupee will devalue, the current GDP will also increase simultaneously.

 

[sauntheninja]

So..

Some of you might be expecting salary credit sms.

But I am expecting Q1-23 data on May 31 . A'ight. We are not same.

We never get our salary on 31st it's always a few days late. Anyway how much are we expecting this quarter. The number i have heard is 5.1

 

[Anandhu Krishna]

We cannot build chinese style cities. They got the liberty of destroying and rebuilding, we cannot, unless we are building new cities from scratch.

We need to do the following :
1. Add more footpaths and bike lanes.
2. Have more last mile bus transportation.
3. Better waste management.
4. Remove restrictions around high rises.
5. Add more green spaces/parks.
6. Try to redevelop slums like they are doing in dharavi, or failing that atleast make sure the don't have open drains, overflowing garbage bins, etc.
7. Remove most stray animals from cities.
8. Remove cattle from cities.
9. Improve general cleanliness.
10. Give software upgrade to people so that they start following traffic rules.

Look at Seoul, densely populated city, parts of which are really old.

Cities, Mumbai in particular, have to do something similar to what Ahmedabad did.


Its already too late but better late than never.

 

[nongaddarliberal]

When the rupee will devalue, the current GDP will also increase simultaneously.

I dont really understand this. Could you elaborate?

Also @marlii @FalconSlayers

 

[FalconSlayers]

I dont really understand this. Could you elaborate?

Also @marlii @FalconSlayers

He himself doesn't know what he's speaking.
Also those are projections ad FinMin generally remains optimistic in terms of inflation count compared to real life.

 

[nongaddarliberal]

Lear difference between constant and current prices, and no our GDP current prices is ₹272 trillion not 280.

So at current prices, GDP is 272 lakh crore, which if
converted at current exchange rate amounts to 3.3 trillion USD. I know they take the average value of the exchange rate, but that's still not going to yield 3.7 trillion. Printing more rupees won't do as that only leads to more inflation and devaluation.

Rupee devaluation is giving a major L to our nominal GDP growth measured in current prices, which is how GDP's of countries are compared.