Indian Economy: News and Discussion

[Crazywithmath]

It's just jhumlebaazi.
Will believe when Foxconn actually anounces something.
"Sources" also said that Vedanta was going to have STMicroelectronics as tech partner but kya hua uska
I'm telling you we need a Maruti Udyog type setup + tech partner, not shady/cowardly/poor private suit-boots to get the fabrication industry started here, afterwards govt can divest.

Exactly, why exactly does TSMC need Foxonn to foray into India? Nano_arun already called out their BS PR. That being said, they are probably serious this time; BS PR from MEITy notwithstanding.

Their partner is MEIL because they already have a JV with them. Olectra greentech is more or less rebadged BYD buses. They have proposed a large manufacturing plant at Seetharampur Industrial Park, but the fact that the investment is only 500 crores tells you it is mostly screwdrivering imported components.



1689329014817.png

I still think GoI wd crack down on them once Switch, Tatas and Eicher put their houses in order. It is free money for BYD till then though.

 

[thebakofbakchod]

Whopping 364 per cent jump in India’s solar exports within a year

India’s solar cell and module exports by domestic original equipment manufacturers (OEMs) stood at Rs 8,840 crore in financial year 2022-23 (FY23), which is a whopping 364 per cent increase from Rs 1,819 crore in FY22, according to data shared by ICRA.

Whopping 364 per cent jump in India’s solar exports within a year - ET EnergyWorld

India’s solar cell and module exports by domestic original equipment manufacturers (OEMs) stood at Rs 8,840 crore in financial year 2022-23 (FY23), which is a whopping 364 per cent increase from Rs 1,819 crore in FY22, according to data shared by ICRA.

energy.economictimes.indiatimes.com

Protectionism does work, but only if you dangle incentives for local and foreign companies to invest locally and build their capacities, and allow intermediate imports (in this case cheeni solar trackers, cells, ingots etc)

 

[shade]

Tesla Supplier Panasonic In Talks With Govt For Setting Up Battery Manufacturing Unit In India: Report

In a bid to establish a strong supply chain before entering the Indian market, US electric vehicle manufacturer Tesla has reportedly asked its battery suppliers to engage in negotiations with the government to establish battery-manufacturing units in the country

swarajyamag.com

Article is originally from BusinessStandard but paywalled there.
It's good if Yi-Long Muskov sets up Tesla factories here along with bits of the supply chain migrating, not just screwdriver giri which I thought he would start with.

 

[shade]

Oh my gawd tf has suddenly happened? Looks like the Lithium mining news has brought senses to some biggies.

BYD seeks nod for $1 billion plan to build EVs, batteries in India

BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the people said, asking not to be named because the application is private. The longer-term plan is to build a full line-up of BYD-brand EVs in...

economictimes.indiatimes.com

Gormint should make sure this happens. Even if a chink firm.
Isn't olectra already making them here?

This would be nice if our suit-boots would steal and reverse engineer all the chingchong tech like the Chinese do to their Western bloc tech investors.

But our suit-boots are basically sleeping-partner in a JV, or a front for the imported bat-munching enterprise that makes up the other 49%.

tbh the suit boots go for the easy route here if not corrected to aim to compete first domestically and then internationally.

 

[shade]

Protectionism does work, but only if you dangle incentives for local and foreign companies to invest locally and build their capacities, and allow intermediate imports (in this case cheeni solar trackers, cells, ingots etc)

I've been seeing a narrative push from the last 2 weeks about this from various media walas, a major source is ICEA which is an electronics industry lobbyist group basically.

India has highest tariffs on inputs in electronic segment among competing economies like Vietnam: ICEA study

India has the highest tariffs on inputs in electronic segment among competing economies such as Vietnam and Thailand, ICEA said on July 6 citing its latest study as the industry body made a strong pitch for reduction in tariffs.

www.thehindu.com

Here is (((Mihir Sharma))) of Coomberg some how attaching Foxconn getting out of the Vedanta JV with high tariffs on import of industrial inputs.

Bloomberg - Are you a robot?

Now the lobbyist groups would be happy if India remains a screwdrivergiri-and-rebadge-for-chinese-goods shop like Vietnam but GoI doesn't have the same "Vision" so idk.

 

[shade]

In A First, Xiaomi To Export Made-In-India Phones To West Asia, In Talks With Dixon For Local Mobile Manufacturing

Chinese smartphone manufacturer Xiaomi is making efforts to export "made in India" phones to West Asian countries for the first time by the end of the third quarter of this year, Business Standard reported

swarajyamag.com

Xiaomeme to use Indian ESDM to assemble it's phones.

They are also using this disengenous PR statement method where they say they are going to increase Indian components to "70 percent" in a phone.

Xiaomi aims to double the usage of Indian components in its handsets (excluding semiconductors) to 70 per cent within the next two years. Currently, Taiwanese firm Foxconn and Chinese companies DBG and BYD assemble Xiaomi phones in India.

But this number is excluding all semiconductors, and those are the pricy elements in a smartphone, also the high tech elements

Also the fabs for which we do not have yet

 

[sameer3694]

@FalconSlayers achhe samachar ke liye thoda intezaar kar lete....

Would be interesting to see how much of that is from Apple alone. I'm guessing at least half or more?

 

[shade]

Would be interesting to see how much of that is from Apple alone. I'm guessing at least half or more?

Majority is Apple and Samsung.
Minority must be all the chinkphone vendors combined, after heavy GoI armtwisting( better imagine this as some 6ft chad deshi nibba, armtwisting a real sexy chainees lady )

Apple is pursuing China + 1.
Samsung already was beyond China for Smartphone production so we're Vietnam + 1 now

 

[JackBauer]

Solar flare bohot door ki baat hai.
So he's as crazy as amerimutt preppers.

Here you need to worry about an eventual out of control riot or hyper-inflation which will also burn your money sitting in bank.

btw solar flare is a natural EMP.

Riot aur inflation k liye bhi usne thodi strategy soch rakhi thi

 

[Crazywithmath]

This would be nice if our suit-boots would steal and reverse engineer all the chingchong tech like the Chinese do to their Western bloc tech investors.

But our suit-boots are basically sleeping-partner in a JV, or a front for the imported bat-munching enterprise that makes up the other 49%.

tbh the suit boots go for the easy route here if not corrected to aim to compete first domestically and then internationally.

The sheer number of muh free market coolies seething in the comments

Exfarts have no idea how chonks treat foreign competitors yet too high on free market kool aid;

 

[ezsasa]

I have a question which I haven't been able to find an answer to for the past couple of days. This is the only thread which maybe somewhat relevant.

So last week I met an interesting character while covering a news segment for something else entirely. This man was a "Prepper". First one I have seen or heard of in India. I mean this guy wasn't as much of an idiot as the preppers we see in USA. He was smart and was just thinking ahead for his family. One thing he said really stuck with me.

He said India's current financial infrastructure just isn't ready for a massive solar flare. He said earth missed one by just a couple of hours less than a decade ago. So I researched further and found out that massive solar flares can knockout satellites and shortout electronics.

So my question is if such an event strikes earth tomorrow are the servers in our Indian banks capable enough to keep my financial data protected? Will I lose all my money? What about my other financial data?

if the core question is whether GoI is aware of vulnerability to EMP, the answer is Yes.
there are research centres in India dedicated to this problem.

An Electromagnetic Pulse (EMP) has the potential to disrupt, degrade, and damage technology and critical infrastructure systems. Human-made or naturally occurring EMPs can affect large geographic areas, disrupting elements critical to the nation’s security and economic prosperity and could adversely affect global commerce and stability.

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1583410

coming to pointed question whether financial data is safe, the answer is yes. any data centre has elaborate plans for storing their back up data. even in worst case scenario of global level EMP flare, last back up will be there, few hours of data might be lost.

what will we do with backup data, when laptops and mobiles themselves are fried is a separate question.

 

[shade]

The sheer number of muh free market coolies seething in the comments

Exfarts have no idea how chonks treat foreign competitors yet too high on free market kool aid;

Free Market is just a jhumla for muscular industrial countries to push their goods and companies to industrially weak countries.
It is not the ones who push this meme who are the chutiyas but ones who believe.

Do you know ALL foreign automobile manufacturers there have to get into a JV with a domestic SOE or privately owned company?
Imagine if we imposed such conditions, the FDI & Free Trade bruh shills would shit themselves.

China is literally the anti-thesis of the modern gospel of "Free trade, Rule of Laaa, property rights etc is necessary to become prosperous "

 

[Crazywithmath]

Free Market is just a jhumla for muscular industrial countries to push their goods and companies to industrially weak countries.
It is not the ones who push this meme who are the chutiyas but ones who believe.

Do you know ALL foreign automobile manufacturers there have to get into a JV with a domestic SOE or privately owned company?
Imagine if we imposed such conditions, the FDI & Free Trade bruh shills would shit themselves.

China is literally the anti-thesis of the modern gospel of "Free trade, Rule of Laaa, property rights etc is necessary to become prosperous "

+100000

These free market jeevis are now doing to Vietnam what our esteemed Gloomberg jhollachaps and Kaushik Basu did to another certain Asian tiger economy a few years back.

 

[shade]

+100000

These free market jeevis are now doing to Vietnam what our esteemed Gloomberg jhollachaps and Kaushik Basu did to another certain Asian tiger economy a few years back.

Mayur Cunt must be told that Vietnam is a Commie One-Party authoritarian state
Sheikh Hasina rules Kangludesh like a queen.

But then folks like Mr.C*nt don't want India to emulate such " free market best practices" now do they?

 

[another_armchair]

+100000

These free market jeevis are now doing to Vietnam what our esteemed Gloomberg jhollachaps and Kaushik Basu did to another certain Asian tiger economy a few years back.

Why do people still quote Vietnam as an export success story?

It is not.

 

[shade]

Why do people still quote Vietnam as an export success story?

It is not.

In these days if you have inflated exports thanks to Chinese goods being routed through your nation it's enough i guess.

It's only success in terms of getting China+1 investments

 

[another_armchair]

Analysis: Chinese suppliers race to Vietnam as COVID let-up opens escape route from Sino-U.S. trade war

Vietnam has enjoyed a wave of investment from China since its neighbour abruptly canned its strict virus-containment strategy and unleashed pent-up interest from companies - and their suppliers.

www.reuters.com

Chinese enterprises massively expand investment in Vietnam

In early June, two Chinese companies specializing in energy storage and battery manufacturing revealed their plans to invest a staggering US$1 billion in expanding production facilities in Vietnam.

vietnamnet.vn

In March, Reuters reported that Vietnam had become a favored destination for a significant influx of investments from China following the country's decision to lift its zero-Covid policy in December 2022. According to data from the Ministry of Planning and Investment, Chinese companies had allocated the first 50 days of 2023 to invest in 45 new projects in Vietnam. These projects predominantly target well-established major brands that have already established their presence in Vietnam.

In fact, the presence of prominent corporations such as Samsung Electronics, Canon, and Apple in Vietnam has attracted equipment assemblers like Foxconn and Luxshare Precision, contributing to the swift growth of industrial clusters in various sectors such as smartphones and printers in Vietnam.

This time, Chinese companies are also being drawn to invest in constructing factories in Vietnam, aiming to provide materials and services to major corporations with an established presence in the country. As of May, Yicai Global, a Chinese publication, noted that numerous Chinese enterprises operating across various sectors, including textiles, optics, and telecommunications, have opened manufacturing facilities in Vietnam.

As Chinese firms move supply chains out of China, India and Southeast Asia benefit

Even Chinese manufacturers are shifting parts of their supply chains out of China to manage risks, and heading to India and other nearby countries.

www.scmp.com

Vietnam is to China today what China was to the West. China had the capability to scale up the manufacturing value chain. Vietnam has none of that. It is just another assembly line and will remain so for decades to come. It will benefit because of investments from Chinese businesses and the West.

 

[Haldilal]

Ya'll Nibbiars The Open Air Malls in Indias are not just rare but almost none. First the Rain's, then The heat.

 

[Blademaster]

Under normal circumstances it should be at $4.2 trillion.

I think we are at already $4 trillion mark by now.

 

[Blademaster]

Ya'll Nibbiars The Open Air Malls in Indias are not just rare but almost none. First the Rain's, then The heat.

Nobody likes open air malls unless the weather is pleasant all year round.