Indian Economy: News and Discussion

[Concard]

No both news can be true. You see, railway baboons have been against DFCs from day 1, because they will lose a large amount of direct revenue to DFCCIL. They were many articles on this in the past. The same baboons did everything they can to scuttle train 18s too. IR bureaucracy needs to be purged inside out in the next term. So the news is likely from some high ranking baboon who wants to get rid of DFCs for his own personal benefit

While I don't doubt our corruption potential of our bureaucrats, DFCCIL comes under Railways. It is not outside of it and the revenue generated gets added to Indian railways revenue.

 

[FalconSlayers]

Yesterday a haramkore wrote GoI will cancel remaining DFC projects. And this is the news today

₹2-lakh-cr dedicated freight corridors on track

Indian Railways plans three new dedicated freight corridors to improve freight movement and passenger train efficiency.

www.thehindubusinessline.com

.

Indian Railways Unveils Rs 2 Lakh Crore Plan for Three New Dedicated Freight Corridors Spanning 4,300 Km

Indian Railways is considering plans for the development of three additional dedicated freight corridors, marking a significant leap in the country's logistics infrastructure

swarajyamag.com

I fucking hate these dalal journalists. Suvvar scum of the first order.

I expected the opposite to happen, The Chindu spreading the fake news and Financial Express publishing the correct one. Sigh.

 

[FalconSlayers]

Under the visionary leadership of Lehroo India wasn't even among top 15 automobile producers till 1991 reforms, maybe even below 20th rank for most of our history as an independent nation, now multiply this with other sectors of the economy. If all things go right we might surpass Japan and USA as 2nd largest carmaker by 2030-35.




Imagine the kind poverty India was subjected to under these idiots.



Same scenario in steel, cement, electricity etc, from a nobody to India becoming 2nd largest. I goddamn hate these congiturds.

 

[SKC]

The issue of brain is grossly over-exaggerated. Several of my classmates from school, left India and went to the UK for further studies or as they claim to do so. Most of them left, not because it's difficult to build a career in India and live, but rather because of an obsession to move to the UK. I don't know anyone who has moved to the US but all classmates I know, moved to the UK. And I can guarantee you, that most of them are not studious. Some are pursuing some good study field but that is about it.

This trend among Goans to move to the UK is very common. Punjabi Sikhs have an obsession to move to Canada as a preferred International destination, in the end they mostly opt for small time jobs such as Taxi Driver, Workers, cleaning jobs at airports, factory labour, or work at some food outlet such as McDonald's, KFC, Burger king etc. The same way, majority of Goans go to the UK and opt for low level jobs.

During my science practical, one of my classmates was speaking about someone's he knew who gone to the UK and become rich, he said this:
"He was a class 9th failure, he went to the UK, and earned tons of money by simply cleaning and washing toilets".

I honestly don't know how true his claim is but I would take everything with a pinch of salt.

Majority of the youth that we lose to the west, like you said, are the ones who are unable to get a basic education in India, in the long run, their skills would prove to be useless for India. Though there are outliers wherein we have indeed lost many bright minds to the west, which if would have stayed in India would have done a lot of R&D and scientific contribution to Bharat.

Some of these Goans, come back every now and then back from the UK, and oh boy, the way they have changed, I can truly say that moving to the UK cucked them.

Things are changing rapidly in West. There was a time when you could earn significant money by doing the menial chores in west and also buy up property back in India.

Now neither these small jobs are easily available in west, neither they pay any good nor the property is cheaper in India anymore that you can buy big land. At most you can invest in some flat/apartment.

 

[sauntheninja]

Related to this is the out of control spending habits of the Indian middle class and decreasing savings rates today. Everyone wants to spend on luxury items and take multiple EMI's, which is a disturbing copy of western spending patterns. Our middle class is disregarding Indian conventional wisdom on saving 30% + of your salary and not buying unnecessary garbage.

Everyone is under the false belief that consumer spending leads to a better economy, whereas thats not true for a developing country. India needs to invest more, not spend everything on consumer items. Investments can come from domestic savings, which will then be used by banks to give out as loans to viable recipients, or from investing in mutual funds.

Beyond the top 1%, nobody should be buying 30 lakh priced cars, or spending anything more than 1 lakh a month. Let these useless luxury businesses such as fancy schools, spas, expensive holidays etc crumble. Let this money be put into banks and investments which will give much higher returns in the future as well as encourage productive employment in sectors that are worth the investment (factories, ports, R&D facilities, AI, robotics, CNC, infrastructure etc).

People want better quality of lives and that's why they are spending more. For an average indian apart from going to the cinema's there isn't anything to do anyway in our cities better people spend on travelling and buying electronics

 

[angryIndian]

Can you provide a source for it please (percentage of developers against all engineers and percentage of finance related jobs against all formal jobs)?
As far as I have experienced in my career, IT sector doesn't hold any significant relevance at least in terms of employment beyond the clutches of Bangalore and Hyderabad.
Core fields like mechanics, civil and electricals are dying without people.

These are the things you'd know anecdotally if you've worked in the core sector.

There aren't enough core companies in this country, and most of them don't recruit many graduate engineers. They typically hire a small number(mostly in single or double digits), primarily from the best Tier-1 colleges.

However, Tier-1 colleges represent a tiny minority of the total colleges in the country. The vast majority of students are from Tier 2 and beyond, for whom entry into the core field is extremely difficult, if not impossible.

At best, these graduates can get into a low-paying vendor company where they have to work in very demanding and dangerous conditions for a pittance. If they are exceptionally lucky and work extremely hard, they might eventually secure a better-paying job.

But the vast majority would likely remain stuck in frustratingly stagnant low salaries, eventually prompting them to quit and pursue other opportunities. Those with big money usually leave abroad to pursue MS.

 

[blackleaf]

Bloomberg - Are you a robot?

https://archive.ph/3oQ32

Apple Awas Yojana: Apple ecosystem pivots to housing factory workers after job boom

Government officials told ET that Apples contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning homes for their employees. These are being built under a public-private partnership scheme in the largest such private sector initiative. Over 78,000 units are to be...

economictimes.indiatimes.com

View attachment 247539

Labour reforms. (Bill passed in 2020, but not notified yet.)

Labour codes may top new govt’s 100-day plan

Social security for informal sector workers, shift toward living wages likely to be part of near-term agenda. Insiders reveal that the upcoming government, led by the Bharatiya Janata Party (BJP), may prioritize the swift implementation of streamlined labor codes within its first 100 days...

economictimes.indiatimes.com

Housing for factory workers is great. Way back in the 1960s when Japan was industrialising post world war 2 it used similar worker dormitories. Girls were recruited to work in these factories from rural Japan from as early as middle school.

Hopefully we can learn from the success in electronic assembly and use those lessons in other areas like textiles and toy manufacturing.

 

[Haldilal]

Ya'll Nibbiars

1 .

Finolex expands its footprint in Maharashtra

Finolex Cables has taken a giant leap towards fostering economic growth and development by formalising a MoU with the Department of Industries, Government of Maharashtra.

www.constructionworld.in

2 .

Tata Power unveils summer strategy to ensure uninterrupted electricity supply in Mumbai

The electric utility and electricity generation company said it has deployed cutting-edge artificial intelligence and machine learning tools to monitor and forecast demand

www.moneycontrol.com

3 .

There can't be shortage of Polio vaccine; Serum Institute can make it: CEO Adar Poonawalla

Pune-based Serum Institute of India (SII) is prepared to increase production of injectable poliomyelitis vaccine (IPV) to fill the gap left by France's Sanofi closing its manufacturing plants in India. SII currently supplies half of the 20 million IPV doses to the government's immunization...

m.economictimes.com

4 .

Shyam Metalics forays into aluminium flat-rolled products

The investment is aimed at capacity expansion of the group while also generate the employment of 1000 direct and in-direct jobs. It will also increase manufacturing of Aluminium flat rolled products to bridge the demand & supply gap making Shyam Metalics group self reliant for the raw materials...

m.economictimes.com

5 .

$1 Billion in Bids Expected for Mumbai-based Company

According to recent media reports, global private equity firms are reportedly preparing bids of about $1 billion for Bharat Serums and Vaccines (BSV). On April 6, 2024, Manufacturing Today India reported that US-based Advent International acquired BSV in 2019 and is looking to sell the company.

www.precisionvaccinations.com

6 .

Exclusive: Fast-forwarding green trucking | Autocar Professional

Exclusive: Fast-forwarding green trucking

www.autocarpro.in

7 .

Vodafone Idea to raise ₹2075 crore from Aditya Birla Group, gets board nod

The telecom operator will hold an extraordinary general meeting (EGM) on May 8 to seek shareholders' approval.

www.hindustantimes.com

8 .

https://www.financialexpress.com/business/industry/hettich-plans-large-investment-by-2025-latches-to-make-in-india-for-world-mantra/3448732/

9 .

Filter Capital Announces Final Close Of Maiden Fund At $100 Mn

Filter Capital has received capital commitments from a diverse investor base – 60% domestic investors and 40% international investors

inc42.com

10 .

बायोडील फार्मामध्ये पिरामल समुहाची ' इतक्या ' कोटींची गुंतवणूक

पिरामल समुहाने बायोडील फार्मास्युटिकल प्रकल्पासाठी ११० कोटींची गुंतवणूक करण्याचे ठरवले आहे. या कॉन्ट्रॅक्ट डेव्हलपमेंट व मॅनुफॅचरिंग कंपनी आपल्या तंत्रज्ञानात नूतनीकरण आणणे तसेच मूलभूत सुविधांमध्ये भर टाकण्यासाठी समुहाकडून हा निधी गुंतवणूक करण्यात येणार आहे. पिरामल समुह यासाठी ११० कोटींची...

www.mahamtb.com

11 .

Mazagon Dock reports 20% growth in annual turnover to ₹9,400 crore

Mazagon Dock shares have turned negative this year. Mazagon Dock share price has fallen 2% in 2024. On the other hand, the stock has rallied 226% in the last one year.

www.cnbctv18.com

 

[jai jaganath]

https://www.financialexpress.com/life/technology-the-chinese-bubble-has-burst-sppls-avneet-marwah-on-why-oneplus-shut-tv-business-xiaomi-stopped-offline-sales-fe-exclusive-3449557/

 

[Butter Chicken]

Urea imports cut by half

 

[DingDong]

 

[Butter Chicken]

Psus

 

[indus]

Psus

I m sure they were doing maintenance, repair and renovation for all these years

 

[SKC]

Psus

Several Such PSU and govt run factories were identified during first term of Modi Govt and many were thereby closed.
Looks like several still running. need to identify all and close them for once.

 

[omaebakabaka]

Housing for factory workers is great. Way back in the 1960s when Japan was industrialising post world war 2 it used similar worker dormitories. Girls were recruited to work in these factories from rural Japan from as early as middle school.

Hopefully we can learn from the success in electronic assembly and use those lessons in other areas like textiles and toy manufacturing.

Be careful what you wish for.... India is neither Japan nor China nor even Pakistan. Not homogeneous in terms of religion or culture. Once you bring rural women into this sort, odds are it's a point of no return only for worse. The is how you get to 1 child per female and most victims would be Hindu being exploited by .5s and every other idiot. Leave woman aside and pick up useless men that just hangout regardless of religion.

 

[omaebakabaka]

I m sure they were doing maintenance, repair and renovation for all these years

Should bring criminal charges against ministers, regulators and auditors and so on for fraud.

 

[Krishnarjun]

Mumbai & Pune's combined share alone is more than 10% of the total GDP. Pune practically remains the most neglected cash cow among the top 5 imo.

 

[sauntheninja]

View attachment 247715
Mumbai & Pune's combined share alone is more than 10% of the total GDP. Pune practically remains the most neglected cash cow among the top 5 imo.

City Administrators need more power. They need to be independent of the state government and need to have funding sources so they don't have to beg to the state governments for funds.

 

[Crazywithmath]

City Administrators need more power. They need to be independent of the state government and need to have funding sources so they don't have to beg to the state governments for funds.

City administrations need to be either abolished or bypassed. The union govt needs to take over with dedicated fiscal outlays and human resources (a la Swacch Bharat) and if possible, should go after the Panchayats and the Zilla Parishads next.

 

[Blademaster]

City administrations need to be either abolished or bypassed. The union govt needs to take over with dedicated fiscal outlays and human resources (a la Swacch Bharat) and if possible, should go after the Panchayats and the Zilla Parishads next.

too much central control and hence too much bureaucracy then. Won’t be able to get anything done.