Indian Economy: News and Discussion

LondonParisTokyo

Senior Member
Joined
Oct 15, 2015
Messages
2,970
Likes
8,238
Country flag
Government needs serious deregulation. Let private industry take initiative without having to worry about cumbersome land acquisition and labor laws. Please
 

nrj

Ambassador
Joined
Nov 16, 2009
Messages
9,658
Likes
3,911
Country flag
Banking sector in India is turning out to be marvelous racket.

You are getting repo at 4% and you are lending to state governments at 8% :rofl:

Banks enjoying 4% arbitrage in between. Such a risk-free arrangement, courtesy RBI.

Tax payers paying fat margins for the bankers. No wonder, they do not want to increase credit in the market when you have guaranteed returns. Which board will sign on some other adventure when RBI is ensuring riskless returns? No business in world like banking in India.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,919
Likes
98,474
Country flag
During COVID-19 lockdown Janaushadhi Kendras achieved a record sales turnover of 52 crore rupees in April 2020
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,919
Likes
98,474
Country flag
Government needs serious deregulation. Let private industry take initiative without having to worry about cumbersome land acquisition and labor laws. Please
India offers land twice Luxembourg’s size to firms leaving China

India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to people with the knowledge of the matter.

A total area of 461,589 hectares has been identified across the country for the purpose, the people said, asking not to be identified because they aren’t authorized to speak to the media. That includes 115,131 hectares of existing industrial land in states such as Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh, they said. Luxembourg is spread across 243,000 hectares, according to the World Bank.




:cool1::india::india2:
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,919
Likes
98,474
Country flag
India uses low crude prices to stockpile 32 million tonnes of oil - Times of India

NEW DELHI: India has stored as much as 32 million tonnes (mt) of oil in underground storages, tanks, pipelines, and on ships to create a stockpile using low global oil prices to its advantage, petroleum minister Dharmendra Pradhan said on Monday.
India is the world's third-biggest oil importer and is reliant on foreign nations to meet 85 per cent of its oil needs.

 

Rxbanda

Regular Member
Joined
Apr 23, 2020
Messages
932
Likes
5,281
Country flag
India uses low crude prices to stockpile 32 million tonnes of oil - Times of India

NEW DELHI: India has stored as much as 32 million tonnes (mt) of oil in underground storages, tanks, pipelines, and on ships to create a stockpile using low global oil prices to its advantage, petroleum minister Dharmendra Pradhan said on Monday.
India is the world's third-biggest oil importer and is reliant on foreign nations to meet 85 per cent of its oil needs.

This is about 1.5 times of what we import every month. Dec'19 we imported some 18.7M tonnes and in Jan'20 we imported 19.7M tonnes.
This should save a few tens of billions in USD for the govt.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,919
Likes
98,474
Country flag
India asks its missions to help identify business scope

Indian commerce and industry minister Piyush Goyal recently urged Indian missions abroad to help identify business opportunities for domestic firms, exporters and make India a preferred investment destination. The minister, along with external affairs minister S Jaishankar, interacted with 131 missions through video conference, a ministry statement said.

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,919
Likes
98,474
Country flag
Modi government to bring this new policy soon? All you need to know

In the wake of the economic situation created by the COVID-19 pandemic, a policy on import substitution is being mulled by the Modi government. According to Union Minister for MSME and Road Transport and Highways, government is considering introducing a policy on import substitution.
Moreover, he urged India Inc to upgrade technologically and come up with cost-effective substitutes to reduce the country's inward shipment. Union Minister Nitin Gadkari said the industry may not be shut for a long time, and several relaxations could be given by the end of May. He urged various stakeholders to convert knowledge into wealth by improving quality through innovations and cutting cost.
 

Tibarn

Tihar Jail
Banned
Joined
Jul 12, 2017
Messages
431
Likes
1,080
Country flag
DH Exclusive: Maharashtra may lose mega refinery to Gujarat

Read more at: https://www.deccanherald.com/busine...may-lose-mega-refinery-to-gujarat-807511.html
If I remember correctly, SS was against this refinery being put in Maharashtra. Now that they are in power at the state level, it was unlikely that this project would've gotten the green light, ie the necessary land to get the project started. .

Media-jaamat is going to spin this as favouritism toward Gujarat.

Edit:
My bad, it mentions it in the article itself only that Shiv Sena is indeed against the project.
 

Tibarn

Tihar Jail
Banned
Joined
Jul 12, 2017
Messages
431
Likes
1,080
Country flag
Some big news out of UP today :india2:

For 3 years, all but 3 labour laws will not apply to businesses that shift their manufacturing to UP.

This is after MP did something similar a few days ago.

Leftists clowns are already complaining :rofl:


 
Last edited:

nrj

Ambassador
Joined
Nov 16, 2009
Messages
9,658
Likes
3,911
Country flag
Nanar refinery was never going to happen. Let Aramco dump its money somewhere else to create gutter.
 

Rxbanda

Regular Member
Joined
Apr 23, 2020
Messages
932
Likes
5,281
Country flag
I have a question.

The Indian economy was suffering from a lack of demand before COVID-19. To address this, government took several measures, some major ones like reduction in corporate taxes etc. In my understanding, the govt. was acting on the top portion of the economy.

Why didn't we give a stimulus package, which is limited to the lower part of the economy pyramid? This would bring some money in the hands of the people. This will increase demand, and keep the MSM businesses running. This way there would be bottom-to-top approach in boosting economy.
But instead, the interest rates are reduced, encouraging the people to not hold on to the money, but invest it.

Can someone please clarify?
Thanks.
 

LondonParisTokyo

Senior Member
Joined
Oct 15, 2015
Messages
2,970
Likes
8,238
Country flag
Indian government needs to move at lightning speed if it wants to capitalize on anything. Vietnam is seen as a much more attractive destination as it offers essentially exactly what China offered at very little cost.
 

Global Defence

New threads

Articles

Top