Indian Economy: News and Discussion

[Cheepek]

Deflation in China, good or bad for us? China finally going the Japan way? Or just a minor hiccup?
View attachment 213875

Why China’s best days are already behind it

A shrinking population pushes Beijing on course for a future of 'pedestrian' growth

www.telegraph.co.uk

Deflation Looms in China as Rebound Loses Steam

China’s consumer inflation flatlined in June after two months of meager growth, while factory-gate prices fell at their fastest pace in more than seven years.

www.wsj.com

Bloomberg - Are you a robot?

My thumb rule is that- Anything negative in China is positive for India, except for events like Covid etc.

 

[sameer3694]

Tata Group closes in on deal to become first Indian iPhone maker - Times of India

India Business News: Tata Group, India’s largest conglomerate, is reportedly in talks to acquire the Wistron Corp factory in southern Karnataka state, which employs over 1

m.timesofindia.com

 

[sameer3694]

Odisha getting some good investments. Many seem to be labour intensive and can generate lot of jobs.

And we know these are real because of the specific and realistic amounts, not some useless flashy MOU's

 

[Tejbrahmastra]

India registers remarkable reduction in poverty with 41.5 crore people coming out of it in 15 years, says UN

www.deccanherald.com

"Notably, India saw a remarkable reduction in poverty, with 415 million people exiting poverty within a span of just 15 years (2005/6–19/21)," the report said.

 

[shade]

https://www.khmertimeskh.com/501322028/cdc-approves-five-projects-worth-over-50-million/

>Taral International Co Ltd has received approval from CIB to invest $25.7 million to establish a garment factory located along the National Road 3 in Snam Krapoeu commune of Kong Pisei district in Kampong Speu province and planned to recruit 6,935 workers

Meanwhile indian garment companies are busy setting up plants in Cambodia. WTF. Won't build garment factories in India but will happily build them in every other country. Something is fundamentally wrong with the Indian economy and ease of bijness if these companies don't build plants here

They can run a ghulam khana in other countries, profitx max, expenses low
Here they can't even run a normal factory unless they are Big Company or MNC

Besides there are FTAs and special LDC benefits that loser countries have for garment manufacture.

 

[shade]

Aren't these companies already working on new EV and H-fuel tech that we have to do RR on other players in the market.
Get technology from even China and get it localize completely here.

Oppo/Vivo/Xiaomi are now having above 80% localization with only the processor and camera module coming from outside. By End of 2023 they are planning to have above 90% localization.

Nobody localizes unless there is any carrot & stick incentive from the GoI.
Micromax, Lava etc were kings of the market once, till their Chini suppliers stepped into the ring and started selling themselves
NOW after flopping and surviving somehow the Micromax and Lava walas find some success in being ESDM companies.
Micromax wala could have started an assembly plant but he blew his money on signing Hugh Jackman for their shitty ads

Chinkies themselves have factories here because Govt arm-twisted their precious margins by applying 20% duty on CBU imports and eventually certain subcomponents also

Also 80-90% localization is utter bullshit from the chinky phone vendors, we don't have any fabs, no OSAT plant in production or display fabs, or any battery cell or assembly plants here, those items are the bulk of the BOM in terms of cost.

I fully support Jai Jagganath in his deserved RR vs that Chinectra and their 2rs assembly scam.

GoI also needs to push out a comprehensive EV policy like the chinkchongs did, not just some PLI .

 

[SKC]

Nobody localizes unless there is any carrot & stick incentive from the GoI.
Micromax, Lava etc were kings of the market once, till their Chini suppliers stepped into the ring and started selling themselves
NOW after flopping and surviving somehow the Micromax and Lava walas find some success in being ESDM companies.
Micromax wala could have started an assembly plant but he blew his money on signing Hugh Jackman for their shitty ads

Chinkies themselves have factories here because Govt arm-twisted their precious margins by applying 20% duty on CBU imports and eventually certain subcomponents also

Also 80-90% localization is utter bullshit from the chinky phone vendors, we don't have any fabs, no OSAT plant in production or display fabs, or any battery cell or assembly plants here, those items are the bulk of the BOM in terms of cost.

I fully support Jai Jagganath in his deserved RR vs that Chinectra and their 2rs assembly scam.

GoI also needs to push out a comprehensive EV policy like the chinkchongs did, not just some PLI .

Shant Shade bhai Shant!

 

[shade]

Deflation in China, good or bad for us? China finally going the Japan way? Or just a minor hiccup?
View attachment 213875

Why China’s best days are already behind it

A shrinking population pushes Beijing on course for a future of 'pedestrian' growth

www.telegraph.co.uk

Deflation Looms in China as Rebound Loses Steam

China’s consumer inflation flatlined in June after two months of meager growth, while factory-gate prices fell at their fastest pace in more than seven years.

www.wsj.com

Bloomberg - Are you a robot?

Good for us since it accelerates Western companies desire to move away from China, since it's falling behind on it's LAHRGEST GROWING CONSOOMA MARKET promise, and global capitalists want infinite growth, so they will move on to the next largest consumer market which is growing

The other angle is Emperor Xi's desire for an Akhand Cheen, and the risk of war with Taiwan etc further giving incentive for Westies to get away.

Whether we ill be able to absorb these "refugees" is another matter, they can easily go to Vietnam which is the #1 suit-boot factory refugee destination, but it is also close to China so..

 

[shade]

Foxconn reaffirms commitment to Make in India, plans to apply for semiconductor policy incentives

Foxconn and Vedanta signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in Gujarat. The Taiwanese company and the metals-to-oil conglomerate called off their JV on July 10

www.moneycontrol.com

Day after parting ways with Vedanta, Foxconn says 'committed to India', to apply for govt's chip scheme

Taiwanese tech giant says it sees India 'establishing robust semiconductor manufacturing ecosystem' and that its working to submit application under govt’s chip manufacturing incentives.

theprint.in

Why do these nibbas continue to try to string around GoI like this?
Altough they probably have a better chance at getting a tech partner.

 

[shade]

TIL Godrej is into Aerospace

Godrej Aerospace eyes parts deal with Airbus, Boeing suppliers amid soaring India plane orders

Godrej Aerospace is holding talks to manufacture aviation components and parts for suppliers of Boeing and Airbus. The discussions are taking place as airlines confirm the highest number of plane orders to date. India‘s Air India and IndiGo have orders for almost 1,000 new aircraft, meaning...

economictimes.indiatimes.com

Godrej Aerospace targets Airbus, Boeing suppliers as India jet orders soar

Godrej Aerospace is in talks to build aircraft parts for suppliers to Airbus and Boeing as airlines place record jet orders, a top executive at the Indian company said.

www.reuters.com

They are also setting up a new Aerospace factory.

Godrej & Boyce announces a new facility at Khalapur in Maharashtra - ET Infra

Godrej Group: Anil G Varma, Executive director & chief Executive director said to ETInfra, "With the 4 times the area of the existing facility of Vikhroli, the production capacity of the new facility will be 4 times as per the demand and as per the launches as the capacity is not the problem.

infra.economictimes.indiatimes.com

 

[another_armchair]

28% GST on online gaming, horse racing, casinos.

Good move.

Add some sort of STT like tax to take the tax component closer to 50%.

 

[sauntheninja]

28% GST on online gaming, horse racing, casinos.

Good move.

Add some sort of STT like tax to take the tax component closer to 50%.

Online gaming here means betting apps like Dream 11 right not online gaming for dedicated consoles?

 

[another_armchair]

Online gaming here means betting apps like Dream 11 right not online gaming for dedicated consoles?

No idea. If you have an old invoice from an online gaming purchase/subscription, you can check the tax component if any.

I think it was reduced from 28% to 18% and the same has been hiked back to 28%.

 

[shade]

Online gaming here means betting apps like Dream 11 right not online gaming for dedicated consoles?

No idea. If you have an old invoice from an online gaming purchase/subscription, you can check the tax component if any.

I think it was reduced from 28% to 18% and the same has been hiked back to 28%.

It's literally video games also, check this TOI article

GST Council Meet: 28% GST on online gaming; SUV, MPVs' price hikes & other key decisions

The Indian Goods and Services Tax (GST) Council has announced its decision to impose a 28% GST on three supplies, including online gaming, casinos and horse racing. The council has also reduced the GST on restaurants inside cineplexes from 18% to 5%, exempted the GST on cancer drug Dinutuximab...

economictimes.indiatimes.com

The Goods and Services Tax Council after its 50th meet in New Delhi on Tuesday has agreed to levy 28 per cent GST on online gaming, horse racing, casinos on full value.

GST council agreed that there should be no distinction between 'game of skill and game of chance.'

"Game of Skill" and "Game of Chance" are made up terms by the lawyer-gambling-site-owner-babu nexus.
Game of Skill is your video games
Game of Chance is Fantasy Dream 11 gambling bullshittery.

Atleast one E-Sports association was crying about this

‘Gamers not to be taxed as gamblers,’ EPWA on 28% GST proposal on online games

Ahead of the 50th GST Council meeting, the EPWA has warned that a proposed 28% GST on online gaming could discourage players and harm the industry.

www.livemint.com

I've bought games recently and atleast Steam and Microsoft charge 18% GST as a part of the price, but Tai and her Boss need to milk entertainment even more along with gambling.

 

[Azaad]

As long as they take in grey hair it's fine . I'm apprehensive they'd start poaching on existing talent there too. Titan hollowed out HMT in a similar manner.

 

[Azaad]

So jhumla 2.0?

Could you explain the acronyms & the implications of this tweet ? @shade

 

[Azaad]

TIL Godrej is into Aerospace

Godrej Aerospace eyes parts deal with Airbus, Boeing suppliers amid soaring India plane orders

Godrej Aerospace is holding talks to manufacture aviation components and parts for suppliers of Boeing and Airbus. The discussions are taking place as airlines confirm the highest number of plane orders to date. India‘s Air India and IndiGo have orders for almost 1,000 new aircraft, meaning...

economictimes.indiatimes.com

Godrej Aerospace targets Airbus, Boeing suppliers as India jet orders soar

Godrej Aerospace is in talks to build aircraft parts for suppliers to Airbus and Boeing as airlines place record jet orders, a top executive at the Indian company said.

www.reuters.com

They are also setting up a new Aerospace factory.

Godrej & Boyce announces a new facility at Khalapur in Maharashtra - ET Infra

Godrej Group: Anil G Varma, Executive director & chief Executive director said to ETInfra, "With the 4 times the area of the existing facility of Vikhroli, the production capacity of the new facility will be 4 times as per the demand and as per the launches as the capacity is not the problem.

infra.economictimes.indiatimes.com

They'd actually be mfg everything from soaps to refrigerators to aerospace components under 1 roof in Khalapur.

 

[Crazywithmath]

As long as they take in grey hair it's fine . I'm apprehensive they'd start poaching on existing talent there too. Titan hollowed out HMT in a similar manner.

Was shocked to find out that GoI still holds ~93% in HMT; while our babus keep missing disinvestment targets routinely in hope of 'timing' stake sales well lol.

 

[Azaad]

Was shocked to find out that GoI still holds ~93% in HMT. On other hand our babus keep missing disinvestment targets routinely in hope of 'timing' stake sales well lol.

The level of disinvestment in Govt owned enterprises has been a huge disappointment with this adminstration especially considering the trail blazers NDA-2 was in this respect under ABV.

There's nothing much left in HMT to dispose. They're mfg CNC machines now IIRC when they should be planning to get into mfg 3D printers.

 

[thebakofbakchod]

They'd actually be mfg everything from soaps to refrigerators to aerospace components under 1 roof in Khalapur.

YEs they have a few factories in khalapur manufacturing a wide range of goods