Indian Economy: News and Discussion

[Indx TechStyle]

I have the same view that you have now. ATB!

Wish we had a confused react as well.

 

[Hijibiji]

Wish we had a confused react as well.

No worries, edited

 

[Sanatani]

Just now received a forwarded msg on WhatsApp that Indian traders have cancelled orders to the tune of 2 bn USD. Not sure about it's authenticity ,but if it's even half true it is a good start

 

[Gautam Sarkar]

Just now received a forwarded msg on WhatsApp that Indian traders have cancelled orders to the tune of 2 bn USD. Not sure about it's authenticity ,but if it's even half true it is a good start

From China ? This is good.

 

[Sanatani]

From China ? This is good.

Yes, from China.

 

[Sanatani]

Recently a friend of mine has been trying to purchase 5 million N95 Masks to export them to Dubai. How are the trade relations of Dubai with China ? If it's very good is their any reason , the Dubai authorities are ready to wait for around a month to get delivered from India rather than buying them from China ?

 

[IndianHawk]

Yes that is inevitable but the least a government can do is set up a Robust Public Banking sector to help these comapnies with loans.
What I'm saying is, make a completely new government arm that deals with finances and appoint folks who are expert's in various industries.
Basically like a consultancy firm except its controlled by government. This arm will deal with everything industry related, from finance, land, labour to simple things such as environmental clearance.
Make the government institutions approachable to the private sector.
The way it is now government treats Public sector as its favourite and priavte sector like an adopted son that is left to fend for itself in this harsh world. Gov must understand that the private companies are also a national asset just like PSUs.

Iirc govt create an stratup venture fund. Invest India or something too. With ficci partnership perhaps.

But even then ultimately we lack capital so we won't be able to fund all the startups.

 

[IndianHawk]

Recently a friend of mine has been trying to purchase 5 million N95 Masks to export them to Dubai. How are the trade relations of Dubai with China ? If it's very good is their any reason , the Dubai authorities are ready to wait for around a month to get delivered from India rather than buying them from China ?

Chinese have exported lots of low quality fake masks previously. That may be the reason.

 

[ezsasa]

Does anyone know of india based standalone Industrial design studios? they design consumer products.
my larger point being, shouldn't this be encouraged. everyone is talking about creating manufacturing base, but no one is talking about creating a design base for consumer products.

 

[Rxbanda]

As US-China tensions escalate, Beijing advises India not to side with US

As US-China tensions escalate, Beijing advises India not to side with US

Amid the rising US-China tensions over a wide range of issues including coronavirus COVID-19 pandemic, China has advised India not to get involved in US-China confrontation. Beijing has said that India should not become a US pawn attacking China in a new Cold War or else India would face a...

zeenews.india.com

 

[Sanatani]

Does anyone know of india based standalone Industrial design studios? they design consumer products.
my larger point being, shouldn't this be encouraged. everyone is talking about creating manufacturing base, but no one is talking about creating a design base for consumer products.

I have heard about NID Ahmedabad. Have met two of their Alumni and seen their ideas and design. They are good. The biggest problem is , designing a new product and making it a marketable thing requires time ,patience ,capital and experience. Indian businessman most of the time lack patience so a majority of them prefer to be traders rather than manufacturers of new products.

 

[ezsasa]

I have heard about NID Ahmedabad. Have met two of their Alumni and seen their ideas and design. They are good. The biggest problem is , designing a new product and making it a marketable thing requires time ,patience ,capital and experience. Indian businessman most of the time lack patience so a majority of them prefer to be traders rather than manufacturers of new products.

thanks for the info.
i did some digging, apparently there are around 500 private Industrial design companies in india.
if there are so many, i guess we have to ask ourselves how come we don't see anything uniquely indian designed in our households.

TATA ELXSI and ELEPHANT DESIGN are some of the major ones.

 

[no smoking]

The biggest problem is , designing a new product and making it a marketable thing requires time ,patience ,capital and experience. Indian businessman most of the time lack patience so a majority of them prefer to be traders rather than manufacturers of new products.

Based on our company's experience, no one has that kind of "patience" asked by Indian manufacturers. Any new product has its life cycle, if you can't put it into the market, you are facing big loss. 2 years ago, we started a new product project in our Indian factory. The product was supposed to enter the market within 6 month and gave us 8 month leading over our competitors. The Indian manager decided to choose a local company to supply one of key components. 1.5 years later, we were still waiting for this India manufacturer to stabilize the quality of their product. In the meantime, our major competitor started to flood the market with similar product. The manager decided to wait no more, switched to a Thailand manufacturer, half year later, we start to supply our "new" product. But thanks to the delay of this local company, we lost this market to our competitor. Ironically, the manager of this local company also complained that we lack of "patience".

 

[Sanatani]

Based on our company's experience, no one has that kind of "patience" asked by Indian manufacturers. Any new product has its life cycle, if you can't put it into the market, you are facing big loss. 2 years ago, we started a new product project in our Indian factory. The product was supposed to enter the market within 6 month and gave us 8 month leading over our competitors. The Indian manager decided to choose a local company to supply one of key components. 1.5 years later, we were still waiting for this India manufacturer to stabilize the quality of their product. In the meantime, our major competitor started to flood the market with similar product. The manager decided to wait no more, switched to a Thailand manufacturer, half year later, we start to supply our "new" product. But thanks to the delay of this local company, we lost this market to our competitor. Ironically, the manager of this local company also complained that we lack of "patience".

Then it means the Indian manufacturer didn't had the required expertise and experience. I am telling patience because I have seen a number of startups coming out with half baked new products ,which could have really worked well had they done some more research on the design .

 

[Akshay Fenix]

You don't reach number 2 spot or 1 in near future by just following the rules.

 

[Gautam Sarkar]

Starting from practically nothing only two months ago, India has now become the world’s second-largest supplier of medical personal protective equipment (PPE).


May #Auto Sales | M&M reports tractor sales for the month of May better than expectations. Total sales come in at 24,341 units against Nomura's estimate of 21,100 units


ECONOMIC REVIVAL CONTINUES. Today 2nd rake of KIA motors SUVs was loaded from Penukonda in Bangalore division. For the first time ever in one day we have loaded two NMG rakes. This signifies the revival of the industrial activity


#Modi Government hikes MSP rates for a number of crops for 2020-21 . This should help boost #agriculture recovery .


Kisan #CreditCards for 1.5 crore #dairy #Farmers . To have interest subvention till ₹3Lakh.

 

[Gautam Sarkar]

Philips to invest Rs 300 crore in India manufacturing, R&D (Pune and Bengaluru facilities)


Even as many still debate the #20lakhcrorestimulus I'd like to remind you that a far more detailed plan is currently well underway under the able hands of @nitin_gadkari .

#India Plans $1.5 Trillion #infrastructure Spending to Spur Growth .


linking this thread & the subsequent discussion I had with @pragmatistic on the Infrastructure work that is already underway

 

[no smoking]

Then it means the Indian manufacturer didn't had the required expertise and experience.

No, the Indian manufacturer had the required expertise and experience. They had been in this business for decades. They just overestimate their capability of meeting the deadline.

I am telling patience because I have seen a number of startups coming out with half baked new products ,which could have really worked well had they done some more research on the design .

Well, that is always the question: how much more research required on the design? Can you give a relatively precise estimation?
One of the major issues we have with Indian engineers or manufacturer is: they are always terribly optimistic about their products or projects. Long time delay seems be part of their work. They think it is not a big deal, but it is serious problem to us and our clients. When you ask for patience, you are actually asking for a big amount of money. Today is a globalisation era, you think you have some good idea or design, there are lots of people are working on the similar design or idea. If you can't put your product into market before them, you are wasting all your investors' money. You failed deadline once, no one trust you anymore. Investors will only be less patient to you next time.

Time is money, patience is also money.

 

[Rxbanda]

Yahoo Search - Web Search

The search engine that helps you find exactly what you're looking for. Find the most relevant information, video, images, and answers from all across the Web.

in.finance.yahoo.com

 

[Gautam Sarkar]

In a display of #Indian #manufacturing prowress : #BajajAuto, TVS capture 40% of market share from #Chinese firms in #African two-wheeler market


Vocal for local: #India launches $6.7 bn plan to boost Electronics manufacturing