Indian Economy: News and Discussion

[ezsasa]

UPI the game changer. Not much disruption, wouldn't have been possible without UPI in place.
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Withdrawal of ₹2000 Denomination Banknotes – Status

According to the data received from the banks, the total value of ₹2000 banknotes received back from circulation after the announcement on May 19 is ₹2.72 lakh crore up to June 30, 2023. Consequently, ₹2000 banknotes in circulation as at the close of business on June 30 stood at ₹0.84 lakh crore. Thus, 76% of the ₹2000 banknotes in circulation as on May 19, 2023 have since been returned.

Reserve Bank of India - Press Releases

 

[ezsasa]

Mota bhai wants to make India 2G mukt Bharat
targeting 25 crore 2G phones in use.
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Visuals of JioBharat V2 4G Phone with an MRP of Rs 999, the lowest entry price for an internet-enabled phone. The monthly plan is 30% cheaper and has 7 times more data compared to feature phone offerings of other operators. The phone has plans including Rs 123 for 28 days for unlimited voice calls & 14 GB data, compared to other operators’ Rs 179 plan for 28 days for voice calls and 2GB data.

 

[sameer3694]

Mostly because of our logistics cost and unreliable electricity supply!!

I think the an additional reason is that Indian companies(esp the large family businesses) in general won't invest in R&D to make their products globally competitive. Either they are scared of competing globally and potentially failing or they are satisfied with their chalta rahega attitude of just selling in the Indian market and be happy with it.

Take the case of Home appliances for example(Like washing machine, Fridge, Microwave etc), what is stopping Godrej or IFB from exporting their products globally? This why unlike some other members here, I'm not in favor of raising the import taxes. It will further reduce their will to compete.

 

[SKC]

Mota bhai wants to make India 2G mukt Bharat
targeting 25 crore 2G phones in use.
======
Visuals of JioBharat V2 4G Phone with an MRP of Rs 999, the lowest entry price for an internet-enabled phone. The monthly plan is 30% cheaper and has 7 times more data compared to feature phone offerings of other operators. The phone has plans including Rs 123 for 28 days for unlimited voice calls & 14 GB data, compared to other operators’ Rs 179 plan for 28 days for voice calls and 2GB data.

2G network is already shut down in US and in some parts of EU. The 5G network has been implemented much better than 3G and 4G in India, we can also soon shutdown 2G in most of the places in India.

 

[thebakofbakchod]

I think the an additional reason is that Indian companies(esp the large family businesses) in general won't invest in R&D to make their products globally competitive. Either they are scared of competing globally and potentially failing or they are satisfied with their chalta rahega attitude of just selling in the Indian market and be happy with it.

Take the case of Home appliances for example(Like washing machine, Fridge, Microwave etc), what is stopping Godrej or IFB from exporting their products globally? This why unlike some other members here, I'm not in favor of raising the import taxes. It will further reduce their will to compete.

Exactly. In general, Indians simply don't have the mentality of east asians. Just look at how the Japs, koreans and then the chinese begged, borrowed, stole and iterated/innovated across the consumer goods industry and aggressively marketed and exported their products. Companies like Bajaj and Godrej are the worst offenders. Very few indian companies aggressively aim to grab a certain marketshare in the global industry. The only ones i can think of are the new generation of Chemical industry companies, along with our pharma industry who have been building/built a large capacity in specific sectors of their fields

 

[Crazywithmath]

Exactly. In general, Indians simply don't have the mentality of east asians. Just look at how the Japs, koreans and then the chinese begged, borrowed, stole and iterated/innovated across the consumer goods industry and aggressively marketed and exported their products. Companies like Bajaj and Godrej are the worst offenders.

Total BS. When were those economies thrown open? How many decades of reforms preceded that? Japanese, Korean miracles were also facilitated by successive American administrations; they subsidized their economies, transferred tech, turned a blind eye to tariff and non-tariff trade barriers and ultimately absorbed their exports. Cheenis benefited immensely from their liberalization efforts (predates India's economic reforms and was a spontaneous process in itself; they were not force-fed by the IMF), relocation of supply chains (since Japan and Korea were getting richer it made sense to move into cheeniland) and by the time they joined WTO the cheeni administration was mostly done putting their own house in order.

Fortune 500 companies does not appear out of thin air. Nobody suddenly wakes up and starts experiencing high economic growth one fine morning. State backed R&D can only go so far and industrial R&D does not pick up in absence of a certain amount of state capacity. India's economic prospects were ruined because of the utopian socialist oonga boonga BS propagated by successive governments only. How exactly does that say anything about so-called 'mentality'? This literally reminds me of another set of BS propagated by Richard Lynn (a notorious white supremacist) where he claimed that economic growth and prosperity were function of certain genetic traits and muh IQ.

IQ and the Wealth of Nations - Wikipedia

en.wikipedia.org

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Richard Lynn - Wikipedia

en.wikipedia.org

 

[Blademaster]

View attachment 212815

Did UP economy do better under Akhilesh than Yogi? A data-check on state’s $1-trillion ambition

UP intends to become a trillion-dollar economy within the next five years. Experts say it could be a tall order, as it requires UP to grow at a minimum of 32 percent per annum.

theprint.in

Biggest jumla king in the entire indian political scene

ha ha you are so transparent. All you have been doing is shitting on anything that BJP does and praising the Congress or the MVA. You are posting an article from a news source that is blatantly anti BJP and that is well known for manipulating data to fit its biased narratives.

 

[Blademaster]

Daily reminder that state is always in top 5 states by GDP mostly because 200 million population and a little bit of Noida so "$1 trillion dollar ekanami" is possible however not in whatever timeline the Mahant has specified.

"Tamil Nadu To Become A 1 Trillion-dollar Economy By 2030”

In an exclusive interaction with BW Businessworld, Tamil’s Nadu Chief Minister M. K. Stalin spoke about the scenario post-Covid, putting renewable energy to good use, promoting chip manufacturing in the state, ease of doing business, and much more , , Magazine Issue 5 Nov 2022

www.businessworld.in

Stalin also wants TN to become trillion dollar economy by 2030 but that's a still an unreasonable timeframe and assumes TN will grow at current rate of 10%


Anyway it's good to have lofty targets to get khadi-jacket wearers and UPSCn!ggers to perform.

You have to overpromise to get any tangible effects because if you don't, it will be just chalta hai type of thing. To get this much of something you have to promise 200% of this.

 

[SammyBoi111]

200 patents? Seriously?
I mean, even if its 1/4th of that - 50 patents - its still great. Means we are making a sincere effort at staying at the forefront of exotic tech.... perhaps we'll even try to be ahead of the curve?

 

[Azaad]

its not palatable in the long run, things have changed in the recent decades and people refuse to slog out for sake of money. Lots of fellas bail out from working in Mumbai just because the life is to hectic there. Navi Mumbai is the future but Island Mumbai and and its peripheral burrows still remain the economic hub and its infrastructure is not pallatble to most people.


No doubt Mumbai will remain the financial capital but its going to be Indias New York, several other cities like that offer a better quality of life will appear some being in Maharashtra itself.

I am betting on Mumbais infra crumbling under the pressure and gormint not being able to absorb it fast enough.

Startup culture: Here's why Mumbai is losing out to Bengaluru and Delhi

Several startup founders feel Mumbai is a hard city to live in and losing out on new-age financial services players.

www.livemint.com

The future of Mumbai is it's going to be a financial hub & capital of India along with hosting most or at least a good number of HQs of prominent companies apart from incubating unicorns.

The middle class having been pushed to the periphery in Mumbai since ages have now been pushed beyond it into satellite cities like Thane, Dombivali Kalyan & beyond , NM, Mira Bhayander, Vasai Virar , etc.

The good news is that these satellite cities are emerging as cities in their own right with a migration of a lot of businesses & offices to these areas including industry from Mumbai implying interconnectivity & remaining intertwined with Mumbai economically.

Just as Delhi is developing clusters in the NCR , you'd see Mumbai Nashik Pune triangle develop into probably the nation's premier industrial financial & next generation technology powerhouse but also one of world's top industrial financial & next generation technology clusters as well.

At least the GoM under DF was working towards it / still is, with help from the center only if Maharashtra's interests didn't conflict with Gujarat & Gujarat could piggyback on Maharashtra leveraging the latter to build up its own economy. Case in point GIFT city & Surat Diamond bourse & Mum Ahm Bullet train connecting both cities.

 

[Azaad]

India's room AC market likely to touch $5 billion by FY28: Voltas

The Indian room air conditioner market is likely to reach USD 5 billion by FY28 with a compound annual growth rate (CAGR) of 10 per cent, according to Tata group firm Voltas.

www.business-standard.com

1 good thing about the AC market is that Indian manufacturing companies have at least a 50% overall market share, and the biggest ones like Voltas, Havells and blue star are all expanding and investing in component level manufacturing.

There are a few other brands like Godrej & Onida too though their market share isn't much. Then there brands like Videocon & other brands they owned which are defunct . The market may be dominated by Voltas but there are a lot of Korean & Japanese brands in the top 10 with the Chinese gradually getting in.

Traditionally Indian consumers had a low opinion about Chinese consumer durables which is why inspite of being among the top brands in consumer durables the world over Haier barely made it to the top 10 in any of the consumer durable segment they were present in out here & they've been present in India for the past 25 yrs . That's now changing with the arrival & good reputation garnered by the cell phone OEMs from China like Xiaomi, Oppo, etc & the knowledge that most of the indoor units of Room Air conditioning systems are mfgd in China with only branding done by Indian & other brands.

A more important point is in the central air conditioning market Indian brands barely make it to the top 10 with the VRF / VRV market dominated by Japanese brands followed by Korean ones & the chiller segment by US & European brands followed by Japanese ones. This segment occupies upto 20% of the total air conditioning market in tonnage as of today & with the growth in commercial , industrial & residential market especially large gated communities the demand for this segment will go up.

Unfortunately Indian brands here are way behind the curve & there seems no way they'd catch up with the market leaders here or even incrementally improve their standing even a decade from now.

 

[Gyyan]

 

[cannonfodder]

^^ Can we pay in something like Euro? Paying in chinese yuan is backing adversaries as reserve currency.

Just take the payments from Europe in Euros and pay it to Rus. Has Europe also blacklisted trading in Euro currencies like $$ for trade with Russia?? In that case how they are buying gas

 

[FalconSlayers]

 

[FalconSlayers]

 

[FalconSlayers]

Bombay Stock Exchange market cap is about to touch ₹300 trillion

 

[shade]

India's Micron deal follows a curious business model - Asia Times

The deal with Micron made during Indian Prime Minister Narendra Modi’s visit to the United States has made headlines as a major technological breakthrough

asiatimes.com

New piddi narrative below and in article, posted 1-2 hours bac

India will pay 70% of cost but the US company will own 100% of the plant

IT'S A SCAM!

Article is originally from the editor of (((newsclick.in))) which is a smaller but yet another congi rag like TheLiar.in for example.


In this narrative crafting they forget that no private sector suit boot has materialized for actual fabrication inspite of Govt offering the same incentives, and in the glorious socialist reign of their favorite party we couldn't even score an OSAT plant that Malaysia has so much of, to which he derisively compares us to, and Malaysia has more of the global electronics supply chain than we do, most top SEAsian countries do except Indogesia.

Wouldn't be surprised if this narrative becomes popular and they shelve the Mircon plant out of fear

 

[FalconSlayers]

India's Micron deal follows a curious business model - Asia Times

The deal with Micron made during Indian Prime Minister Narendra Modi’s visit to the United States has made headlines as a major technological breakthrough

asiatimes.com

New piddi narrative below and in article, posted 1-2 hours bac



IT'S A SCAM!

Article is originally from the editor of (((newsclick.in))) which is a smaller but yet another congi rag like TheLiar.in for example.


In this narrative crafting they forget that no private sector suit boot has materialized for actual fabrication inspite of Govt offering the same incentives, and in the glorious socialist reign of their favorite party we couldn't even score an OSAT plant that Malaysia has so much of, to which he derisively compares us to, and Malaysia has more of the global electronics supply chain than we do, most top SEAsian countries do except Indogesia.

Wouldn't be surprised if this narrative becomes popular and they shelve the Mircon plant out of fear

Just like other countries are "paying" hundreds of billions of dollars for fabs which ultimately will be owned solely by semicon firms ? Congi rats are the bottom tier of human civilisation.

 

[FalconSlayers]

Kya ch aadmi hai

 

[aim120]

^^ Can we pay in something like Euro? Paying in chinese yuan is backing adversaries as reserve currency.

Just take the payments from Europe in Euros and pay it to Rus. Has Europe also blacklisted trading in Euro currencies like $$ for trade with Russia?? In that case how they are buying gas

Russia gave a list of the stuff it wants from India so that it can use the accumulated rupee in Indian banks. But the Indian companies are pussies, since they have their fingers in american pie so they don't want to be sanctioned.
I mean how hard is to start a new export company and start exporting by just only exporting to russia.