Indian Economy: News and Discussion

[Rango]

Seems like a lot of Islamists and Leftists are mad about this article.

Exclusive Interview: Narendra Modi and the unstoppable rise of India

The prime minister on his goals, his critics and his "god-gifted" ability to listen: "I am always in the moment."

www.newsweek.com

Any "Danish" support is always unexpected!

 

[Haldilal]

Ya'll Nibbiars

1 .

Indo-Australian Innovation Takes Center Stage at Saarthi GreenTech's Factory Inauguration

Discover the groundbreaking moment with Saarthi GreenTech's inauguration of its state-of-the-art factory in Pune, marking India's first homegrown venture into hydrogen-based hybrid technologies.

www.marketinginasia.com

2 .

Hiranandani-Blackstone JV leases out 3 lakh sq ft industrial space to United Industries

The joint venture company GreenBase, formed by Hiranandani Group and Blackstone Group, has leased over 300,000 sq ft of industrial space in Pune to automotive component major United Industries. This deal, one of the largest in industrial real estate this year, is for a built-to-suit...

economictimes.indiatimes.com

3 .

Godrej Interio To Launch 60 Stores In Western India | Pune News - Times of India

Pune: Godrej Interio, furniture and interior solutions division of Godrej & Boyce, plans to launch 60 new stores in the western market during the fisc.

timesofindia.indiatimes.com

4 .

Pune Gas debuts eco-friendly LPG backup generator for hospitality sector

Indian Hospitality Sector News - , Business- An eco-friendly, efficient and safety-oriented, this generator sets new benchmarks for sustainability and reliability

bwhotelier.businessworld.in

5 .

Bridgestone India to outpace PCR replacement market growth; eyes 25% revenue growth by 2026 | Autocar Professional

Bridgestone India to outpace PCR replacement market growth; eyes 25% revenue growth by 2026

www.autocarpro.in

6 .

‘EV Policy to help accelerate adoption in India if more new players come in’: Santosh Iyer | Autocar Professional

‘EV Policy to help accelerate adoption in India if more new players come in’: Santosh Iyer

www.autocarpro.in

7 .

SC Lowy invests in Pune based real estate and Srinagar Banihal debt

An alternative investment fund backed by SC Lowy has invested in non-convertible debentures (NCD) in the last week of March. While Pharande NCDs do not pay any interest up to June 30, 2024 and 14% until maturity on March 31, 2026, Srinagar Banihal has offered 16% on the NCDs. The proceeds will...

m.economictimes.com

8 .

The Lubrizol Corporation Opens New Global Capability Center in Pune, India

BusinessWire India Pune (Maharashtra) [India], April 11: Lubrizol, a global leader in speciality chemicals, has opened a new Global Capability Center (GCC) in Pune, India, as a strategic hub to accelerate its growth in the region and enable closer collaboration for its customers and employees...

theprint.in

9 .

Maharashtra Seamless obtains ₹674 crore order from ONGC to supply pipes - CNBC TV18

The stock of the company closed with a dip of 0.43% at ₹897.15 apiece on Wednesday on BSE.

www.cnbctv18.com

10 .

Godrej Properties' Chairman targets Rs 25,000 cr sales bookings in FY'25 on strong housing demand

New Delhi, Apr 11 (PTI) Enthused by record sales bookings of Rs 22,500 crore last fiscal on strong housing demand, Godrej Properties Ltd Executive Chairman Pirojsha Godrej said the company would like to see some growth even on a high base and aim to achieve Rs 25,000 crore pre-sales numbers in...

www.deccanherald.com

11 .

Mumbai-based AutoNxt Automation raises $3M in a pre-Series A round led by Saama, others

AutoNxt Automation, a Mumbai-based start-up specializing in electric powertrain and off-road autonomous technology, has raised around $3 million in a pre-Series A funding round led by Saama.

indianstartupnews.com

 

[Abhijeet Dey]

Will it be advantage BJP or DMK?

Tamil Nadu to pull out all stops to attract Elon Musk

Tamil Nadu to pull out all stops to attract Elon Musk - Times of India

India Business News: Tamil Nadu will aggressively pitch itself as a manufacturing site for Tesla Inc.

toi.in

 

[ezsasa]

India's forex reserves jump USD 2.98 billion to hit a fresh peak of USD 648.56 billion: RBI

 

[Crazywithmath]

India's forex reserves jump USD 2.98 billion to hit a fresh peak of USD 648.56 billion: RBI

USDINR shot up to 83.47.

looks like gold is the major reason

India's forex reserves up by $2.98 bn to hit fresh peak of $648.56 bn

India's foreign exchange reserves hit a record high of $648.56 billion as of April 5, with a $2.98 billion increase. The Reserve Bank of India (RBI) reported the previous week's reserves at $645.6 billion, reflecting a $2.95 billion surge. According to the RBI's Weekly Statistical Supplement...

economictimes.indiatimes.com

Won't be surprised if the next weekly release pegs fx reserves at US$ 650 billion+.



Still don't see a meaningful depreciation of INR anytime soon but then again, who knows...

 

[ezsasa]

USDINR shot up to 83.47.

looks like gold is the major reason

India's forex reserves up by $2.98 bn to hit fresh peak of $648.56 bn

India's foreign exchange reserves hit a record high of $648.56 billion as of April 5, with a $2.98 billion increase. The Reserve Bank of India (RBI) reported the previous week's reserves at $645.6 billion, reflecting a $2.95 billion surge. According to the RBI's Weekly Statistical Supplement...

economictimes.indiatimes.com

 

[FalconSlayers]

USDINR shot up to 83.47.



Won't be surprised if the next weekly release pegs fx reserves at US$ 650 billion+.



Still don't see a meaningful depreciation of INR anytime soon but then again, who knows...

 

[Tejbrahmastra]

 

[NutCracker]

View attachment 248194

US inflation grew a little bit , so people might be expecting a rate hike, or cancellation of much trumpeted rate cut.

 

[FalconSlayers]

 

[Kumata]

Think Fast tag is helping .. but does this means that once the project cost is recovered.. will they remove tolls in public interest or it is lifetime now..

 

[Concard]

Think Fast tag is helping .. but does this means that once the project cost is recovered.. will they remove tolls in public interest or it is lifetime now..

Recovering the project cost along with interest. It would take approximately 25 years to recover the cost and interest in the best case scenario. The project cost of Delhi Mumbai expressway is 1 Lakh crore. Assuming they recover the cost in 25 years then according to you they should remove the toll. But that's not how things work. What if there is a shortage of toll collection in one route and more in another? Should we discard the former because there is less collection? NHAI will use the surplus in the later to maintain the former highway. There is reason in asking less toll prices. but asking for no toll prices is unreasonable at least in a country like ours with less resources.

 

[Kumata]

Recovering the project cost along with interest. It would take approximately 25 years to recover the cost and interest in the best case scenario. The project cost of Delhi Mumbai expressway is 1 Lakh crore. Assuming they recover the cost in 25 years then according to you they should remove the toll. But that's not how things work. What if there is a shortage of toll collection in one route and more in another? Should we discard the former because there is less collection? NHAI will use the surplus in the later to maintain the former highway. There is reason in asking less toll prices. but asking for no toll prices is unreasonable at least in a country like ours with less resources.

No, I am not asking for it be made free but looking at what rules say once the project cost + Profit is realized. I remember a SC judgement to that effect.

But my firm opinion is that the project cost of one badly collecting toll cannot be recovered from other which is doing good collections. Let there be a extended collection on toll where collection is less....It's not a hafta vasooli scheme that dad did not paid back.. let his grand kids pay. There are cost centres for a reason !!!!

and our biggest problem is corruption ... there r just enough resources available if babus choose to use them judiciously.

 

[another_armchair]

No, I am not asking for it be made free but looking at what rules say once the project cost + Profit is realized. I remember a SC judgement to that effect.

But my firm opinion is that the project cost of one badly collecting toll cannot be recovered from other which is doing good collections. Let there be a extended collection on toll where collection is less....It's not a hafta vasooli scheme that dad did not paid back.. let his grand kids pay. There are cost centres for a reason !!!!

and our biggest problem is corruption ... there r just enough resources available if babus choose to use them judiciously.

What happens if the road requires maintenance and obviously has operating expenses towards salaries of inspection staff, road assistance services, other staff etc..small repairs that are carried out weekly/monthly. Emergency repairs are carried out immediately.
What if there is a natural calamity that causes serious damage and requires 500 crores towards repair and restoration. Will you be ok if they have to restart toll collection or are you going to say 'cholbe na, dada'.

All the toll roads are not fully funded by taxpayers money through budgetary allocations. NHAI and others raise funds through bonds, market borrowings and bank loans too. The interest on it has to be paid over many years. Its like buying a 50 lakh apartment on loan. You pay interest on it too and depending on your loan amount and the loan tenure, the total amount you end up paying exceeds 50 lakhs. Try telling the bank that you are fair and square because the principal has been paid off, they can take a hike.

Setting up a data center is a one time capex investment and then there are recurring operating costs. You don't stop charging clients once your capex is recovered.

Come on dude.. with all your corporate and real world experience you shouldn't be making such statements. Do share the inspiration & source behind your recent posts.

 

[Kumata]

What happens if the road requires maintenance and obviously has operating expenses towards salaries of inspection staff, road assistance services, other staff etc..small repairs that are carried out weekly/monthly. Emergency repairs are carried out immediately.
What if there is a natural calamity that causes serious damage and requires 500 crores towards repair and restoration. Will you be ok if they have to restart toll collection or are you going to say 'cholbe na, dada'.

All the toll roads are not fully funded by taxpayers money through budgetary allocations. NHAI and others raise funds through bonds, market borrowings and bank loans too. The interest on it has to be paid over many years. Its like buying a 50 lakh apartment on loan. You pay interest on it too and depending on your loan amount and the loan tenure, the total amount you end up paying exceeds 50 lakhs. Try telling the bank that you are fair and square because the principal has been paid off, they can take a hike.

Setting up a data center is a one time capex investment and then there are recurring operating costs. You don't stop charging clients once your capex is recovered.

Come on dude.. with all your corporate and real world experience you shouldn't be making such statements. Do share the inspiration & source behind your recent posts.

Again i said keep tolls going .. bit cross charging across cost centers is news to me... still I am looking at real world info in context of SC judgements on toll roads...

and stop making comments on what i do and what not .... Not for public consumption ...this is 2nd time u r crossing that line.. Pls learn to argue in a healthy way keeping biases aside..... I too know many's here personally , have their numbers and lot more but i never disclose that however heated the argument is..

 

[another_armchair]

Food inflation is likely to spike in the coming months.

Lentils & chana, rice to see a spike as production is hit because of high temperatures, drought in cultivated areas.

Govt urging traders not to buy from the market till govt. procurement is complete.

Yes, there is a shortage. Rice we used to buy at 60-62 a kg is hovering near 80 now. Don't eat much rice so wouldn't hurt.

Govt has started selling 'Bharat Rice' in retail and some folks spoke about spotting the bags at Reliance Fresh. Retailing at Rs. 29/kg but the quality is so-so only.

Lets see where things stand by August-September.

 

[thebakofbakchod]

Food inflation is likely to spike in the coming months.

Lentils & chana, rice to see a spike as production is hit because of high temperatures, drought in cultivated areas.

Govt urging traders not to buy from the market till govt. procurement is complete.

Yes, there is a shortage. Rice we used to buy at 60-62 a kg is hovering near 80 now. Don't eat much rice so wouldn't hurt.

Govt has started selling 'Bharat Rice' in retail and some folks spoke about spotting the bags at Reliance Fresh. Retailing at Rs. 29/kg but the quality is so-so only.

Lets see where things stand by August-September.

more investment in food storage is neededd

 

[thebakofbakchod]

In terms of absolute numbers, GDP per capita (as per IMF), in 2024 was:
2024: India $2,850 Developing economies $6,770 (42%)
2014: India $1,560 Developing economies $5,140 (30%)
2004: India $635 Developing economies $1,790 (35%)
1998: India $419 Developing economies $1,380 (30%)


Amazing. In 10 years of educated PM rule, India grew POORER relative to rest of 3rd and 2nd world.

Country	2004	2014	2024 (est)	2014 to 2004	2024 to 2014
India	721	2040	4100	2.83	2.01
China	1950	10500	18560	5.38	1.77
Indonesia	279	891	1540	3.19	1.73
Vietnam	62	232	470	3.74	2.03
Brazil	669	2460	2270	3.68	0.92
Russia	633	2050	1900	3.24	0.93
Thailand	172	407	543	2.37	1.33
Pakistan	132	271	?? ~300-320	2.05

actual values of GDP in billions from IMF

 

[Haldilal]

Ya'll Nibbiars

1 .

IIT Bombay Prof's startup Sedemac Mechatronics in talks to raise $100 million from A91, Xponentia, 360 ONE Asset

The startup is talking to A91 partners, Xponentia Capital Partners and 360 ONE Asset. The round is likely to close at a valuation of $250 million

www.moneycontrol.com

2 .

HDB Financial Services: MUFG to pick 20% stake in HDFC Bank's non-banking arm

The transaction will be one of the largest deals in India's shadow banking sector. HDFC Bank currently owns around 95 per cent of HDB Financial Services, with the remaining 5 per cent held by employees under an ESOP scheme.

www.livemint.com

3 .

Power Finance Corporation offers to underwrite entire debt of Rs27,300 crore for the planned Vadhavan Port - ET Infra

The planned mega port will be designed to handle some 298 million tonnes (mt) of cargo a year with an investment of Rs76,220 crore

infra.economictimes.indiatimes.com

4 .

Etrav Tech Ltd. Secures USD 3.9 Mn Investment Led by EaseMyTrip, Expanding Horizons and Propelling Innovation in Travel Tech Industry

PNN Mumbai (Maharashtra) [India], April 12: Etrav Tech Ltd., headquartered in Mumbai, has recently secured a significant investment of USD 3.9 Mn (INR 33 Cr) in its second round of funding, led by EaseMyTrip. This strategic infusion of capital, spearheaded by EaseMyTrip, marks a pivotal moment...

theprint.in

5 .

Nippon Life gets licence to open India subsidiary

MUMBAI: The Japanese insurance major Nippon Life has received regulatory approvals to open a subsidiary in the country as Nippon Life India, headquartered in Mu

www.newindianexpress.com

6 .

7 .

Vinod Cookware opens new manufacturing unit in Maharashtra; to create 350 jobs - ET Retail

Vinod Cookware: Sunil Agarwal, director at the company said the firm plans to utilise the efficiency and scale to meet the surging demand for quality products.

retail.economictimes.indiatimes.com

8 .

Juniper Green Energy switches on 105 MW of solar in Maharashtra

Juniper Green Energy commissioned the 105 MW solar power project in a record time, almost nine months ahead of the scheduled date. The project benefits from a 25-year power purchase agreement with Maharashtra State Electricity Distribution Co. Ltd (MSEDCL).

www.pv-magazine-india.com

9 .

Maharashtra Invites Bids to Procure 500 MW Wind-Solar Hybrid Power - Mercom India

Maharashtra State Electricity Distribution Company (MSEDCL) has invited bids to procure 500 MW of wind-solar hybrid power on a long-term basis from grid-connected intrastate projects with an...

www.mercomindia.com

10 .

JSW to acquire Reliance's wind project in Maharashtra, India

JSW Renewable Energy has announced the acquisition of a 45MW wind power project from Reliance Power on a slump sale basis.

www.power-technology.com

11 .

EKI Energy Services sets up biomass briquettes manufacturing plant in Maharashtra

Biomass briquettes, made from agri-residue such as sugarcane trash, corn cob, soya husk, tamarind, and pomegranate waste, serve as a substitute for coal in boilers and furnaces.

m.economictimes.com

 

[another_armchair]

more investment in food storage is neededd

We are deficient in lentils production. Storage is not the issue.

Rice is a tricky subject because variety X that is cheaper may be in surplus but supply of variety Y may be scarce because say only N tons are produced every year because demand is almost constant with marginal increments which can be met from old storage but during drought years, production of variety Y may fall leading to a shortage in supply, hoarding by traders & stockists leading to a sharp rise in prices.

There's this particular sub variety of Raichur sona masuri rice.. used to cost some 50-52 bucks 3-4 years back but has hit 80 now. Generally points to one factor - production is not keeping up with demand. Storage is only secondary. Food business has cut throat competition and people avoid holding on to stocks of perishables/food grains for too long because of bug infestation in the tropics.