Indian Economy: News and Discussion

RoaringTigerHiddenDragon

Regular Member
Joined
Sep 5, 2020
Messages
238
Likes
1,209
Country flag
In 8 months not a year, in a few weeks we will surpass Russia in terms of ForEx.
A huge part of Russia's forex is made of Gold unlike ours which is made up of productive foreign investment. Gold is not a productive investment (some gold foils are used in space technology but that's minimal), only affords safety (unless Putin is decorating all of Kremlin's walls and his sprawling palace in Sochi with real gold ala Trump style). So, Russia is playing it safe and that signals that their economy is struggling, and they dont want a run on the rouble. of Russia's $423 billion total exports in 2019, 52% was mineral fuels, a risky position just like the Arabs have it (price drops in fuels and switching to EV technology must be giving Russians nightmares).Note how Russians are not pursuing any EV technology. LOL. So the gold hoarding.


Russia Top 10 exports.png
 

shade

Senior Member
Joined
Feb 28, 2016
Messages
5,263
Likes
26,361
Country flag
Do they actually MAKE anything? AFAIK they just assemble, package and sell at VFM price bracket.
Assemble is "make" too my nibber.Don't be confused over semantics.

They can increase their contribution % to what they sell by designing the hardware, designing the software, getting some of the parts manufactured through desi OEM( IC's have to be imported, no choice there ) also.

But most likely they are selling rebrand Chink phones once again, just importing in CKD form, assembling here, and selling for cheap to avoid duty on fully built boxed mobiles.
No intention to design anything or get some of the parts indeginized.
GoI should be aware of people like these in PLI scheme, ye company chuna lagayega GoI ko while bathing in those PLI bux.
 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
5,539
Likes
17,553
Country flag

Bhumihar

Cheeni KLPDhokebaaz
Senior Member
Joined
Jun 5, 2017
Messages
8,288
Likes
31,157
Country flag
What is the significance of Forex? how will these billions help us?
 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
5,539
Likes
17,553
Country flag
What is the significance of Forex? how will these billions help us?
Ya Nibba see my previous post it will help us in the international trade. As for example reserves play a vital part in the international trade.
 

RoaringTigerHiddenDragon

Regular Member
Joined
Sep 5, 2020
Messages
238
Likes
1,209
Country flag
Assemble is "make" too my nibber.Don't be confused over semantics.

They can increase their contribution % to what they sell by designing the hardware, designing the software, getting some of the parts manufactured through desi OEM( IC's have to be imported, no choice there ) also.

But most likely they are selling rebrand Chink phones once again, just importing in CKD form, assembling here, and selling for cheap to avoid duty on fully built boxed mobiles.
No intention to design anything or get some of the parts indeginized.
GoI should be aware of people like these in PLI scheme, ye company chuna lagayega GoI ko while bathing in those PLI bux.
they have a criteria called domestic value addition (DVA) which needs to be satisfied to meet eligibility for PLI reimbursement. Companies have to submit a forecast plan for DVA. If they just assemble, the DVA will be very low and their application could be rejected.

read here for more details. The document looks well made.

 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
5,539
Likes
17,553
Country flag
Ya'll Nibbiars
Ya'll Nibbiars Jindal Will invest 20,000 Crores in Maharashtra.
 
Last edited:

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
5,539
Likes
17,553
Country flag
Joined
Apr 29, 2015
Messages
13,989
Likes
29,710
Country flag
Do they actually MAKE anything? AFAIK they just assemble, package and sell at VFM price bracket.
Even China just "assembles" phones and most of semiconductors come from Taiwan. The manufacturing by you is calculated in terms of "value addition". "Manufacturing Value Added" (MVA) is calculated in terms of dollars, different for different levels of assemblies and parts fabrication.
 
Last edited:

Swiftfarts

Tihar Jail
Banned
Joined
Sep 13, 2020
Messages
605
Likes
1,010
Country flag
A huge part of Russia's forex is made of Gold unlike ours which is made up of productive foreign investment. Gold is not a productive investment (some gold foils are used in space technology but that's minimal), only affords safety (unless Putin is decorating all of Kremlin's walls and his sprawling palace in Sochi with real gold ala Trump style). So, Russia is playing it safe and that signals that their economy is struggling, and they dont want a run on the rouble. of Russia's $423 billion total exports in 2019, 52% was mineral fuels, a risky position just like the Arabs have it (price drops in fuels and switching to EV technology must be giving Russians nightmares).Note how Russians are not pursuing any EV technology. LOL. So the gold hoarding.


View attachment 68188
There is a reason for it unlike india all these countries who have reserves in gold are highly developed nations or have very high HDI index. These are basically innovation based societies , who build things on there own unlike us.
 
Joined
Apr 29, 2015
Messages
13,989
Likes
29,710
Country flag
There is a reason for it unlike india all these countries who have reserves in gold are highly developed nations or have very high HDI index. These are basically innovation based societies , who build things on there own unlike us.
I don't see any country outside north Atlantic and East Asia even coming anywhere near us in innovation. In fact, we beat lot of them in tech at this low incomr level. These rich countries have much higher density of commodities and natural sources and have wealth accumulated over decades of high growth.
 

Swiftfarts

Tihar Jail
Banned
Joined
Sep 13, 2020
Messages
605
Likes
1,010
Country flag
I don't see any country outside north Atlantic and East Asia even coming anywhere near us in innovation. In fact, we beat lot of them in tech at this low incomr level. These rich countries have much higher density of commodities and natural sources and have wealth accumulated over decades of high growth.
Japan, south korea, Germany , etc don't have higher density of natural resources. We are not an innovation based societies like them period just a copy and paste like Chinese and there is a reason for it and by innovation i mean genuine real breakthrough which changes course of human society.
 

N4tsula67

Senior Member
Joined
Sep 9, 2020
Messages
1,030
Likes
4,451
Country flag
Japan, south korea, Germany , etc don't have higher density of natural resources. We are not an innovation based societies like them period just a copy and paste like Chinese and there is a reason for it and by innovation i mean genuine real breakthrough which changes course of human society.
Are you insane or are you dumb? Then what was Number system,Matrumeru(Fibboci series),Sushruta Samhita(Surgery and 108 surgery equipment), Water management system, corrosion resistant steel(Vishnu stambha of Delhi), Gravity etc. Since ancient time india has been the land of innovation and scientific discoveries.
About Modern India. Do you even know about ISRO?
Copy paste like chinese lmao. Before writing such garbage use brain not bum.
 
Last edited:

Global Defence

Articles

Top