Indian Economy: News and Discussion

[Physx32]

Because the phones are assembled here and localisation is very low. When everything from OLED screen, SoC, RAM, NAND flash, pcb components are imported, price won't decrease.

 

[rockdog]

Direct flight almost terminated.

 

[The Juggernaut]

 

[Crazywithmath]

Its WSJ and Paid : Both are high barriers for most Indians on this forum to access what you want to point. Remove both so that Indian viewers can "invest" time in hearing your view point

Same old rr over female LFPR, protectionism and manufacturing as a % of GDP. Also scaremongering over supposed high debt and wasteful expenditure (total BS; the incumbent govt is one of the most fiscally conservative govts ever elected).

 

[karn]

Indian auto parts industry FY 23 turnover up 32.8% to INR 5.6 lakh cr : ACMA - ET Auto

ACMA Auto Components Report: The auto component industry's growth in FY23 is attributed to factors like robust vehicle sales, a thriving aftermarket, and steady exports.

auto.economictimes.indiatimes.com

The report highlights a remarkable growth rate of 32.8% compared to the previous ..

 

[sameer3694]

This is great. An Indian mapping company "MapMyIndia" which is competing with Google Maps.

MapmyIndia wins Rs 400 crore business from Hyundai and Kia | Autocar Professional

Like their smartphones, car users are keen to stay fully connected in their computers on wheels.

www.autocarpro.in

The deal covers map and connected-car content including real-time and predictive traffic, mobile SDK, online search and call centre maps for embedded connected navigation and connected car services.

 

[jai jaganath]

This is great. An Indian mapping company "MapMyIndia" which is competing with Google Maps.

MapmyIndia wins Rs 400 crore business from Hyundai and Kia | Autocar Professional

Like their smartphones, car users are keen to stay fully connected in their computers on wheels.

www.autocarpro.in

I have a question regarding the app
I am using mapmyindia app for last 2-3 months
But why the interface seem very poor compared to Google maps and even lagging seems huge problem
I personally feel the updates wrt roads are faster in case of Google maps

 

[sameer3694]

I have a question regarding the app
I am using mapmyindia app for last 2-3 months
But why the interface seem very poor compared to Google maps and even lagging seems huge problem
I personally feel the updates wrt roads are faster in case of Google maps

Obviously, Google has billions to invest in so it will be better. Most Indian competitors don't have access to that kind of capital.

 

[Atavistic]

Boeing's largest facility outside the US inaugrated by vishwaguru at Kempegowda International Airport, Bangalore, Karnataka. Investment 1600 crore rupees , 43 acres.

 

[Atavistic]

Indospace to invest ₹ 700 cr in Pune for logistics park over 100 acres.

 

[Haldilal]

Ya'll Nibbiars

1 . https://www.linkedin.com/posts/core...QY?utm_source=share&utm_medium=member_android

2 . https://www.linkedin.com/posts/anto...gs?utm_source=share&utm_medium=member_android

Dhunseris Poly Films Project In Bengal Begins Commercial Production

Dhunseris Poly Films Project In Bengal Begins Commercial Production

www.ndtvprofit.com

Sign Up | LinkedIn

500 million+ members | Manage your professional identity. Build and engage with your professional network. Access knowledge, insights and opportunities.

www.linkedin.com

Swiss firm Leister Groups launches Weldy Technologies Unit in Coimbatore

Weldy Technologies specialises in manufacturing hot air hand tools and automatic plastic welding machines.

ipfonline.com

Trueview Expands Manufacturing Facility to Boost Production of Interactive Flat Panel Displays

Trueview’s capacity for manufacturing these cutting-edge Interactive Flat Panel displays, marking a noteworthy development in the electronics industry.

www.mid-day.com

 

[jai jaganath]

Obviously, Google has billions to invest in so it will be better. Most Indian competitors don't have access to that kind of capital.

See I didn't mean to say that mmi should compete with Google
Just wanted to explain context so I used Google as benchmark
But the problem of lagging could be solved

 

[Arjun Mk1A]

I have a question regarding the app
I am using mapmyindia app for last 2-3 months
But why the interface seem very poor compared to Google maps and even lagging seems huge problem
I personally feel the updates wrt roads are faster in case of Google maps

Which one you are using?

Try Mappls by Map my india. On par with Gmaps interms of UI. Accuracy needs to observe.

 

[shade]

Same old rr over female LFPR, protectionism and manufacturing as a % of GDP. Also scaremongering over supposed high debt and wasteful expenditure (total BS; the incumbent govt is one of the most fiscally conservative govts ever elected).

They want (((greater female participation in the work force))) for the capitalistic goal of even cheaper labour because the labor pool will increase 2x, and the social engineer goal of India becoming a feminist randikhana with leftover women, subreplacement TFR and associated calls to import foreigners for teh ekanamy, with a booming ekanamy of pet care and pet food because of wimmenz becoming dog and cat "mommies"

 

[Crazywithmath]

They want (((greater female participation in the work force))) for the capitalistic goal of even cheaper labour because the labor pool will increase 2x, and the social engineer goal of India becoming a feminist randikhana with leftover women, subreplacement TFR and associated calls to import foreigners for teh ekanamy, with a booming ekanamy of pet care and pet food because of wimmenz becoming dog and cat "mommies"

Yeah, I don't advocate East Asia style industrialization in India. Given our system, we just can't implement that, the global environment is not conducive and a brute force approach will leave devastating socio-economic and/or demographic consequences for the future generations. It is simply not desirable. And lastly, these jhollawallahs should come to this realization that the era of globalized free trade is over - they can cry and seethe over it but the pre GFC era ain't coming back amytime soon.

 

[Tshering22]

India has more gold reserves than Saudi Arabia, UK; check full list

The United States has emerged as the country with largest gold reserves in the world, as estimated by the World Gold Council (WGC). According to the list released by the WGC, India is placed at the ninth spot and is ahead of Saudi Arabia and United Kingdom.

The US has gold reserves measuring 8,133.46 tonnes as per the WGC list, valued at $489,133 million. Germany is at distant second spot with estimated gold reserves of 3,352 tonnes. Italy, France and Russia occupy the third, fourth and fifth spot respectively, Forbes reported.India has gold reserves measuring 2,191.53 tonnes, valued at $ 131,795 million as per the WGC list.

According to a Reuters report, Russia has said it is looking into whether its frozen gold reserves, taken after Russia invaded Ukraine, could be used to fund the climate damage fund to help developing countries.

In what looked like an attempt to try to fulfil Moscow's aim of doing "everything possible" to stop the West from seizing its frozen reserves, Russia's climate envoy said at the COP28 summit the move would help to close the gap between developed and developing countries in dealing with climate change.

Here is the list of top 10 countries with most gold reserves. (Attached)

Why do countries have gold reserves?
There are several reasons behind countries keeping gold reserves. The most important reason is that gold is considered a stable store of value. This precious metals is known to have played a key role in supporting the value of a country's currency. Some countries do view gold reserves as means to maintain their currency's stability. Another reason why the countries maintain gold reserves is diversification. The nations can diversify their overall portfolio and mitigate risks associated with fluctuations in value of other assets.


The gold price is inversely proportional to US dollar. When the value of dollar depreciates, gold rates increase. As a result, central banks can safeguard their reserves during periods of market volatility.

Some countries are known to utilise this precious metal for settling their trade imbalances or as collateral for loans. During economic downturns, gold value increases and hence acts as a hedge in such crises.

We stand at #9. That’s very low for a country that relies on gold so much. Even Switzerland, Italy and Germany have so much of gold reserves.

we should be around #4 to #7 if we have to make a dent on the USD. Americans sit on 8K tonnes of it.

 

[Cheepek]

India has more gold reserves than Saudi Arabia, UK; check full list



We stand at #9. That’s very low for a country that relies on gold so much. Even Switzerland, Italy and Germany have so much of gold reserves.

we should be around #4 to #7 if we have to make a dent on the USD. Americans sit on 8K tonnes of it.

These are official numbers of the gold we count in our forex reserves. Gold reserves are strategic, so there will be unofficial reserves as well (for all countries). Also, this does not count the gold held by households.

 

[IndianSpiderman]

All that complaining aside, it is horrifying to read how extreme poverty was in the 1970s. It is a miracle India has remained a country. Indira gandhi permanently damaged India's economy. During this period of the 60s to 80s, most asian countries saw rapid economic growth


Nobody knows how many Indians have starved to death in this fourth famine year. In the countryside, especially, members of Parliament have testified to “horrible” famine conditions. One local Congress party official who toured 40 villages in Madhya Pradesh found that nine in every 10 families did not have a grain of wheat or rice and were living on wild fruit. Others have told of people driven by hunger to suicide, or eating grass and roots. In the Cooch Behar region of West Bengal, there are reports of people eating their own dead children. The Government has released no figures on deaths by starvation; nor, if it did, would they be likely to include those too undernourished to resist the mildest illness. “When a weak old man died after waiting in a queue for hours under a hot sun to get his food ration, the police said he died of sunstroke,” says the Bombay editor of The Times of India, Ajit Bhattachargea. “Is that an accurate statistic?”

Ruler of 600 million—arid alone (Published 1975)

Claire Sterling article traces pol career of Prime Min Gandhi and her decline in popularity among India's impoverished masses in wake of her new authoritarian policy; cites Gandhi's failure to develop efficient agr and land reform programs; says Gandhi has isolated herself and may become 'real...

www.nytimes.com

Not to forget, great economist Maunmohan was Chief economic advisor to Indira back then. He was also the architect of the infamous FERA act, probably the single most damaging economic legislation in post-independence India.

 

[IndianSpiderman]

Direct flight almost terminated.

View attachment 237249

Great. Never know what virus might sneak in next from Cheeniland.

 

[vin bharat mahan]

The new Google and UPI partnership:
- Broaden the use of UPI payments for travellers outside of India
- Establish UPI-like digital payment systems in other countries.
- Enable the cross-border money transfer by leveraging the UPI infrastructure.

Forex cards on their way out? Google Pay ties up with NPCI for expansion of UPI

It is believed that this partnership will help accelerate UPI’s global acceptance, providing foreign merchants access to Indian customers who do not need to rely on foreign currency or forex cards for making digital payments.

www.livemint.com

Prefer to use indian apps for payment....like as bharatpe nd BHIM apps.
no need to use foreign apps like google pay, phonepe (wallmart) nd Paytm (chinese ant group) .