Indian Economy: News and Discussion

Varun2002

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Adani copper plant coming up in Mundra(GJ). Will be larger than Sterlite plant Thoothukudi. Annual capacity 1 MTPA
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The closing of the copper plant in Tuticorin was opportunistically exploited by the Chinese to increase their share of the copper trade, imsmc, they even set up a similar copper mill in Pakistan(?) very soon after the Sterlite plant was closed! This Adani venture will redress the balance, no doubt.
 

Haldilal

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Amitabh Kant, CEO of Niti Aayog said that UPI with 18 billion transactions annually has surpassed American Express at 8 billion. American Express is much older, but a 5 year old UPI has overtaken it & will surpass Visa & Mastercard by the next 3 years.
 

Haldilal

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Ya'll Nibbiars see this :)

Adani Enterprises is in the process of setting up a copper smelter project with a capacity of one million tonnes per annum at an investment of Rs 10,000 crore at Adani Port Special Economic Zone (APSEZ) in Gujarat.

Prasarak Suryarao is the MD tasked with the Mundra Copper Ltd he is currently working with Adani Synenergy Ltd. at Ahmedabad and head the Copper Project coming up in Mundra. Under the name of Greenfield Copper Refinery Plant. The proposed project will produce 1 million tpy of copper cathodes, 500,000 tpy of copper rods, 3 million tpy of sulphuric acid, 500,000 tpy of phosphoric acid, 30,000 tpy of aluminium fluoride, 288 tpy of selenium, 50tpy of gold.

Here's the capacity list:
Gold50 TPAPhase-I: 25 TPA & Phase-II: 25 TPA
(2.)​
Selenium Recovery Plant288 TPAPhase-I: 144 TPA & Phase-II: 144 TPA
(3.)​
Continuous Cast Copper Wire Rod5,00,000 TPAPhase-I: 2,50,000 TPA & Phase-II: 2,50,000 TPA
(4.)​
Copper Refinery Plant10,00,000 TPAPhase-I: 5,00,000 TPA & Phase-II: 5,00,000 TPA
(5.)​
Aluminum Fluoride30,000 TPAPhase-I: 15,000 TPA & Phase-II: 15,000 TPA
(6.)​
Phosphoric Acid (as 100% P2O5)5,00,000 TPAPhase-I: 2,50,000 TPA & Phase-II: 2,50,000 TPA
(7.)​
Silver500 TPAPhase-I: 250 TPA & Phase-II: 250 TPA
(8.)​
Copper Smelter Plant9,00,000 TPAPhase-I: 4,50,000 TPA & Phase-II: 4,50,000 TPA
(9.)​
Sulphuric Acid (> 98%)30,00,000 TPAPhase-I: 15,00,000 TPA & Phase-II: 15,00,000 TPA
(10.)​
Copper Scrap & E-Scrap Melting Facility1,00,000 TPAPhase-I: 50,000 TPA & Phase-II: 50,000 TPA
(11.)​
Oxygen (Industrial)96,000 TPMPhase-I: 48,000 TPM & Phase-II: 48,000 TPM
(12.)​
Waste Heat recovery boiler based power plant40 MWPhase-I: 20 MW & Phase-II: 20 MW
S. No.Product/Activity (Capacity/Area)QuantityUnitOther UnitMode of Transport / Transmission of ProductOther Mode of Transport / Transmission of Product
(1.)​
Copper Cathode1000000Tons per AnnumRoad,OthersSea
(2.)​
Gold50Tons per AnnumRoad,OthersSea
(3.)​
Phosphoric Acid (as 100% P2O5)500000Tons per AnnumRoad,OthersSea
(4.)​
Aluminum Fluoride30000Tons per AnnumRoad,OthersSea
(5.)​
Selenium24OthersTons per MonthRoad,OthersSea
(6.)​
Hydro Fluro Silicic Acid (~20% as H2SiF6)2500OthersTons per MonthRoad
(7.)​
Copper Telluride42OthersTons per MonthRoad,OthersSea
(8.)​
Nickel16OthersTons per MonthRoad,OthersSea
(9.)​
Bismuth Bisulphate120OthersTons per MonthRoad,OthersSea
(10.)​
Calomel (Mercury Chloride)18OthersTons per MonthOthersSea
(11.)​
Silver500Tons per AnnumRoad,OthersSea
(12.)​
Ferro Sand/ Iron Silicate - Copper Slag (Granulated)185000OthersTons per MonthRoad,Rail,OthersSea
(13.)​
Phosphogypsum208334OthersTons per MonthRoad,Rail,OthersSea
(14.)​
Mercury16OthersTons per MonthRoad,OthersSea
(15.)​
Continuous Cast Copper Wire Rod500000Tons per AnnumRoad,OthersSea
(16.)​
Anode Slime500OthersTons per MonthRoad,OthersSea
(17.)​
Sulphuric Acid (> 98%)3000000Tons per AnnumRoad,OthersSea
(18.)​
PGM Concentrate6OthersTons per MonthRoad,OthersSea
(19.)​
Tellurium8OthersTons per MonthRoad,OthersSea
(20.)​
Silver500Tons per AnnumRoad,OthersSea
(21.)​
CCR Mill Scale50OthersTons per MonthRoadSea

Adani Enterprises in November 2018 made Mundra Copper a wholly-owned subsidiary, as per disclosures made to the exchanges at that time. The subsidiary is now being manned by directors like Haresh Rajmal Mehta, Adani group's vice president of Corporate Finance who also serves on the board of Adani Water.

The project, as per a previous filing with the environment ministry made by Adani Enterprises, would be set up at an investment of Rs 10,000 crores spread over 634 acres within Adani Port Special Economic Zone in Mundra

The project envisages producing 1 million tonnes of copper cathode and 5 lakh tonnes of the copper rod a year and also 50 tonnes of gold and 500 tonnes of silver as by-products. The deal, once commissioned, will more than mitigate the crisis hitting the domestic copper availability with the closure of Vedanta's smelter in Tuticorin.
 

Haldilal

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Ya'll Nibbiars Has the current impasse on GST between centre and states, and even earlier instances of states unwilling to accomodate central laws, indicated the failure of the federal model? the model works only under the assumption that states will do whats best for the country. unrealistic?

Bhagwan Ucha
 

ezsasa

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Economy tanks by almost 24 percent in 1st quarter of FY 21 . Mega recession 😟
April May June, nothing was open what else to expect?

25th March to 14 April - Lock down one.
 

SKC

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April May June, nothing was open what else to expect?

25th March to 14 April - Lock down one.
it is said that 65% of all work was shut down. 35% of the work including all critical sector was still open.
Still 23% drop is much better, i was thinking about as high as 40% drop.
US economy had 31% dip and they are over $21 Trillion economy.
 

warriorextreme

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Economy tanks by almost 24 percent in 1st quarter of FY 21 . Mega recession 😟
This still seems to be far better considering that everything was closed except for agricultural, pharmaceutical & ITES etc.
 

Spindrift

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it is said that 65% of all work was shut down. 35% of the work including all critical sector was still open.
Still 23% drop is much better, i was thinking about as high as 40% drop.
US economy had 31% dip and they are over $21 Trillion economy.
That's just the formal sector and if the informal sector were to be taken into account, it would have been grater.
 

another_armchair

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We will catch up with equal ferocity.
Hiring in informal sector is up. People are finally getting over the paranoia of Covid-19, ignoring it and moving on.
Freight movement data suggests frenetic demand & supply across the land.
Lockdown will be lifted, tests will reduce and we will be back on our feet.
Covid will be dreadful only for the weak, the rest will shrug themselves and move on.
Schools/Colleges to reopen by Oct/Nov for sure.
 

Haldilal

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Why is the fall in power consumption just 5% despite 40-50% fall in high power consumpting sectors like mining, manufacturing, etc? One reason can be no of people who have electricity at home is much, much higher in 1Q21 vs 1Q20? But is that enough?

EgwRQPtVoAApZdX.png

Ok so this is what the legend says: Captive power consumed internally is.

So the reason could be that captive power has taken the hit and this fall is already reflected in the manufacturing sector slowdown. HOWEVER, captive power is only 14-15% of the total power capacity. As such it is unlikely that majority of industry power use was from it. Hence, I find the muted power consumption fall of 5%, still a little odd. Perhaps not as odd as I originally found it.
 

Haldilal

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On the whole I dont think the GDP is as bad as its being made out to be. Natural fall in sectors where lockdown was imposed. This isnt a structural negative, it is an event based slowdown. Activity should recover fast if the FM doesnt regulate/tax the soul out of risk takers.

Bhagwan Ucha.
 

Brood Father

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Explain this too.........

It's an act of God ..Think about it
China doesn't believe in God hence it is positive
Other European country believes in one God hence the effect is slightly higher
But in India we have 33 cr God hence you see this result ..
:pound::pound:
 

angryIndian

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It's an act of God ..Think about it
China doesn't believe in God hence it is positive
Other European country believes in one God hence the effect is slightly higher
But in India we have 33 cr God hence you see this result ..
:pound::pound:
On a much serious note,this is probably the biggest economic crisis India is facing since it's independence.

Wiping out of a quarter of an economy is horrific with far reaching consequences.
 

angryIndian

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India had the World's strictest lockdown in month of April resulting in absolutely no economic activity except pharma, IT , agriculture.

Our direct economic stimulus was much smaller than other countries .
So this data was expected.

The lock-down did not achieve anything apart from ensuring rapid rise in cases,rising employment and poverty ,destroying industries and the economy
 

Sehwag213

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The lock-down did not achieve anything apart from ensuring rapid rise in cases,rising employment and poverty ,destroying industries and the economy
Lockdown didn't achieve anything because certain state governments went rogue initially.
Telangana, Maharashtra and Delhi comes to my mind. And then from July afterwards every state started to witness huge number of cases.
 

angryIndian

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Lockdown didn't achieve anything because certain state governments went rogue initially.
Telangana, Maharashtra and Delhi comes to my mind. And then from July afterwards every state started to witness huge number of cases.
complete lockdown was a stupid idea from the very beginning. Even if the virus wouldn't,the economic impact alone would kill the people.

Now we are facing a dual brunt of a nearly collapsed economy and a rising infection cases that has spiraled out of control.
 

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