Indian Economy: News and Discussion

[DG7867]

Auto sales numbers for Sep 2020

Apart from Toyota , MG , VW and Nissan every other brand posted positive sales growth numbers in sept

View attachment 61306

Hyundai CRETA posted its highest monthly sales ever since it was launched in 2015 . 10 lakh above segment is doing good numbers with CRETA ,SELTOS and Honda City

View attachment 61307

Looks like toyota is going the same way as nissan.. wonder why

 

[Haldilal]

Ya'll Nibbiars

Mahindra & Mahindra posts 17% rise in tractor sales at 43,386 units in September

The company had sold 37,011 units of tractors in the same month last year, M&M said in a statement.

www.moneycontrol.com

Mahindra & Mahindra tractor sales jump 17% in September

Total tractor sales (Domestic + Exports) during September 2020 were at 43,386 units, as against 37,011 units for the same period last year.

www.business-standard.com

 

[Haldilal]

Ya'll Nibbiars

BPCL privatisation: EOI deadline extended again; this time till Nov 16

This is the fourth time when the deadline for submission of EOI has been extended by GoI

www.business-standard.com

 

[Haldilal]

Ya'll Nibbiars

Tata Steel shares climb 5% as Chinese Jingye eyes takeover of UK business

According to a report, Tata Steel is open to getting rid of the UK business.

economictimes.indiatimes.com

Zoning sale areas is the new strategy for Tata Steel amid Covid-19

Besides reaching out to customers in a faceless manner, Tata Steel helped customers get permission from local authorities

www.business-standard.com

 

[Haldilal]

Ya'll Nibbiars

Gas price reduction will lower earnings for ONGC, Oil India: Moody's - ET EnergyWorld

These companies are already grappling with low oil prices and a further reduction in natural gas prices will exacerbate their earnings decline. However, said Moody's, gas sales account for 18 to 19 per cent of the companies' upstream revenues

energy.economictimes.indiatimes.com

Top headlines: ExxonMobil, ONGC to bid jointly; telcos bat for tariff hike

From Exxon bidding for auction rounds under OALP tp Flipkart readying for big billion day sale, here are top headlines this morning

www.business-standard.com

 

[Swiftfarts]

Tweets by MD of Amul

Freedom to sell existed even before so why bring the law?

 

[Haldilal]

Ya'll Nibbiars

Ethanol output to double, blending in petrol to rise to 7.5%-8% by November next year

The government is also targeting increasing ethanol production capacity from existing 426 crore litres to 590 crore litres in next two years which will help it to achieve 10% blending target for mixing ethanol with petrol by 2022.

economictimes.indiatimes.com

 

[Haldilal]

Ya'll Nibbiars

Haldiram grp alleges Rs 40 lakh fraud by manager, online retailer staffer | Nagpur News - Times of India

Nagpur: Haldiram group has registered an offence of alleged cheating and criminal breach of trust against it’s own manager of online sales wing Harish.

timesofindia.indiatimes.com

 

[another_armchair]

Government clears 16 companies for product-linked incentive scheme

Out of these, 3 companies namely Foxconn Hon Hai, Wistron and Pegatron are contract manufacturers for Apple iPhones. Apple (37%) and Samsung (22%) together account for nearly 60% of global sales revenue of mobile phones and this scheme is expected to increase their manufacturing base manifold in...

economictimes.indiatimes.com

 

[FalconZero]

Ya'll Nibbiars

Haldiram grp alleges Rs 40 lakh fraud by manager, online retailer staffer | Nagpur News - Times of India

Nagpur: Haldiram group has registered an offence of alleged cheating and criminal breach of trust against it’s own manager of online sales wing Harish.

timesofindia.indiatimes.com

That explains @Haldiram 's absence.... /s

 

[LondonParisTokyo]

That explains @Haldiram 's absence.... /s

I miss him. He's a good guy

 

[FalconZero]

I miss him. He's a good guy

I am too new tbh, I only know our boi Haldilal....

 

[DG7867]

OK mah *****, its 'car sales go skyrocket' season...

September 2020 : Indian Car Sales Figures & Analysis

September 2020 : Indian Car Sales Figures & Analysis

www.team-bhp.com

 

[Sanatani]

View attachment 61902
OK mah *****, its 'car sales go skyrocket' season...

September 2020 : Indian Car Sales Figures & Analysis

September 2020 : Indian Car Sales Figures & Analysis

www.team-bhp.com

I am happy for TATA. Slowly they are improving their numbers. Still they are far behind Maruti and Hyundai. Hopefully with their range of new products and better after sales services they will be able to secure the number 2 position in Indian car market

 

[Suryavanshi]

View attachment 61902
OK mah *****, its 'car sales go skyrocket' season...

September 2020 : Indian Car Sales Figures & Analysis

September 2020 : Indian Car Sales Figures & Analysis

www.team-bhp.com

We need more desi car comapnies

 

[shade]

Atmanirbhar Bharat should not lead to protectionism, says Raghuram Rajan

Rajan, currently a professor at the University of Chicago, further said India needs world-class manufacturing and that means the country's manufacturers have access to cheap imports, which form the basis for strong exports.

indianexpress.com

I have noticed this trend of eminent Intellectools, "experts" etc etc peddling a narrative that Aatmanirbhar Bharat is some sort of protectionist scheme, not just Rajan.
Meanwhile Govt everytime offers clarification that Aatmanirbhar means making India self-reliant by making it a part of global supply chains.

 

[avknight1408]

Atmanirbhar Bharat should not lead to protectionism, says Raghuram Rajan

Rajan, currently a professor at the University of Chicago, further said India needs world-class manufacturing and that means the country's manufacturers have access to cheap imports, which form the basis for strong exports.

indianexpress.com

I have noticed this trend of eminent Intellectools, "experts" etc etc peddling a narrative that Aatmanirbhar Bharat is some sort of protectionist scheme, not just Rajan.
Meanwhile Govt everytime offers clarification that Aatmanirbhar means making India self-reliant by making it a part of global supply chains.

Samsung stopped TV manufacturing in India few years ago and imported TVs from Vietnam using ASEAN FTA.

Yesterday's news

Samsung to start production of TVs in India from December

 

[shade]

Samsung stopped TV manufacturing in India few years ago and imported TVs from Vietnam using ASEAN FTA.

Yesterday's news

Samsung to start production of TVs in India from December

Samsung does a lot of gandu pan here since they have made Vietnam their export hub, GoI should get them in line.
btw globally also now Samsung outsources production of it's low cost phones to 3rd party factories like Dixon Technologies( Indian company, recipient of PLI scheme ).

Also currently the manufacturing done here is only for the domestic market, since duties of importing assembled and packaged electronic items like TVs, Mobiles etc are very high, unless there are chutiyapa FTAs involved, which is why Samsung stopped making TVs here because GoI imposed 5% duty on open cell panels as part of Phased Manufacturing Program, so they started importing TVs at no duty because Vietnamese FTA.

GoI should promote manufacturing for export now.

 

[Compersion]

Would be good to see the price of products wise review from cars, high-end products, luxury items to everything else that costs in India and other major economies. This is the role of PMO. It is like the security profile of the country - what is it that we want to display to the world?

I am sure the price to market is much higher in India for many products.

And it is not because of Tax and Import duties -> not at all -> its pure profit margin - is it public is gullible easily cheated? Why? Lower cost = better sales ... higher cost = don't want better sales ? is it on purpose? blame foreign currency fluctuations? hedging?

Case in point a recent car maker - ask them the cost of their cars in India and XYZ why is it much less in ... XYZ where there are 100% duty and no localized production? why does the car maker price its cars at such a high price point in India? blame the government? perhaps its to maintain its "status" -> don't want better sales?

please remember there is a history where the country didn't even have access to 486 Personal computers without big cost when it was easily and cheaply available nearby countries. Hard to let go of such traditions?

One has to believe it is it mixture. Ultimately the presence of a company in India is not only for profit margin. But it cannot be for exploitation.

Also one is seeing many car makers utilise other car makers from their country of origin and rebrand the car. Again ... why does the car maker price its cars at such a high price point? maintain its "status" -> don't want better sales?

Parallel goods and grey market goods technically would balance such - but that is not understood by policymakers and also it is not easily done.

Policymakers and PMO and even MEA ...

And later it's shameful to see "luxury" and "not affordable" car maker(s) being used by terrorists in neighbouring country. Where they don't have money ... but the cars being used by the terrorists are not "cheap" either.

Thought of putting a picture but it's well known since there is a good affinity with the country and countries in question and I am sure they can be discussed and resolved in virtuous and righteousness manner.

 

[ezsasa]

Would be good to see the price of products wise review from cars, high-end products, luxury items to everything else that costs in India and other major economies. This is the role of PMO. It is like the security profile of the country - what is it that we want to display to the world?

I am sure the price to market is much higher in India for many products.

And it is not because of Tax and Import duties -> not at all -> its pure profit margin - is it public is gullible easily cheated? Why? Lower cost = better sales ... higher cost = don't want better sales ? is it on purpose? blame foreign currency fluctuations? hedging?

Case in point a recent car maker - ask them the cost of their cars in India and XYZ why is it much less in ... XYZ where there are 100% duty and no localized production? why does the car maker price its cars at such a high price point in India? blame the government? perhaps its to maintain its "status" -> don't want better sales?

please remember there is a history where the country didn't even have access to 486 Personal computers without big cost when it was easily and cheaply available nearby countries. Hard to let go of such traditions?

One has to believe it is it mixture. Ultimately the presence of a company in India is not only for profit margin. But it cannot be for exploitation.

Also one is seeing many car makers utilise other car makers from their country of origin and rebrand the car. Again ... why does the car maker price its cars at such a high price point? maintain its "status" -> don't want better sales?

Parallel goods and grey market goods technically would balance such - but that is not understood by policymakers and also it is not easily done.

Policymakers and PMO and even MEA ...

And later it's shameful to see "luxury" and "not affordable" car maker(s) being used by terrorists in neighbouring country. Where they don't have money ... but the cars being used by the terrorists are not "cheap" either.

Thought of putting a picture but it's well known since there is a good affinity with the country and countries in question and I am sure they can be discussed and resolved in virtuous and righteousness manner.

let me add one more layer of dilemma to your conundrum.

If GoI was not spending lakhs of crores on fundamental socialist projects like a kg of wheat for 2rs & rice for 3rs, GoI could have taxed manufactureres at a lower rate and provided incentives which would bring down the prices of cars even down.

ultimately at a national level, everything is intertwined.