Indian Economy: News and Discussion

[Cruise missile]

South India is a complete shithole going backwards in time very soon North Indian States will take over them in every aspect this is what u get when u feed commies and missionaries.

 

[shade]

Ya'll Nibbiars see unions are controlled by different parties in different states. I.E.
Maharshtra : NCP.
Gujarat : NDA.
Karnataka : Parivar.
Bengal : TMC.
DELHI : AAP.
Kerala : CPI M.
Andhra Pardeah : Naidu.
Tamil Naidu : ?.

For TN it has to be DMK.
DMK has controls even non political over TN.

 

[shade]

8 Injured In Fire After Explosion At Drug Factory In Hyderabad

Eight people were injured after an explosion at a drug manufacturing facility near Hyderabad that triggered a fire on Saturday.

www.ndtv.com

Latest happening, even NDTV doesn't have all the details.

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Meanwhile Pics from the Wistron factory riot

Kolar: Employees vandalise iPhone manufacturing plant over salary dues

Kolar, Dec 12 (IANS): An iPhone manufacturing plant run by Taiwanise tech giant Wistron Corporation at Narsapura was vandalised on Saturday by employees allegedly over salary dues, the police said. The iPhone plant established on 43 acres at Narasapura industrial area in Kolar is around 60 km...

www.daijiworld.com

From the article

"
A majority of the nearly 2,000 employees, who were exiting the facility after completing their night-shift, went on a rampage destroying furniture, assembly units and even attempted to set fire to vehicles.

Senior police officers along with additional personnel from Kolar district have rushed to the spot.

In the videos that were shot by a few fellow employees during the arson, those leading the mobs were seen breaking glass panes and doors, turning cars upside down and attacking the offices of senior executives.

"

 

[Haldilal]

Ya'll Nibbiars

India's forex reserves surge by $4.525 billion to record $579.346 billion

In the reporting week, the increase in reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves. FCA rose by $3.932 billion to $537.386 billion, the Reserve Bank of India's (RBI) weekly data showed.

www.moneycontrol.com

 

[Suryavanshi]

8 Injured In Fire After Explosion At Drug Factory In Hyderabad

Eight people were injured after an explosion at a drug manufacturing facility near Hyderabad that triggered a fire on Saturday.

www.ndtv.com

Latest happening, even NDTV doesn't have all the details.

=====================================================================


Meanwhile Pics from the Wistron factory riot

Kolar: Employees vandalise iPhone manufacturing plant over salary dues

Kolar, Dec 12 (IANS): An iPhone manufacturing plant run by Taiwanise tech giant Wistron Corporation at Narsapura was vandalised on Saturday by employees allegedly over salary dues, the police said. The iPhone plant established on 43 acres at Narasapura industrial area in Kolar is around 60 km...

www.daijiworld.com

From the article

"
A majority of the nearly 2,000 employees, who were exiting the facility after completing their night-shift, went on a rampage destroying furniture, assembly units and even attempted to set fire to vehicles.

Senior police officers along with additional personnel from Kolar district have rushed to the spot.

In the videos that were shot by a few fellow employees during the arson, those leading the mobs were seen breaking glass panes and doors, turning cars upside down and attacking the offices of senior executives.

"

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So why were they protesting?
Wage cut due to Corona?

 

[Cruise missile]

Less than 1 week ago Wistron said that they are going to invest Rs 1265 crore and had applied for 5.87 acres adjoining their current facility. Perfect visuals for the Chinese and others to circulate across the globe...damn.

 

[shade]

So why were they protesting?
Wage cut due to Corona?

*Rioting.
Supposedly they were being paid less montly compared to what they were signed up for, like a guy signed up for 20k got 16k, then 12k, then some even got 8k instead of the specified amount.

I mean we totally live in some 18th century Victorian London world where there are no other mechanisms of greivance redressal except chimping out and destroying everything exist, right?

Good they didn't burn the factory manager like that one MS plant in Manesar, Haryana long ago.

 

[ezsasa]

*Rioting.
Supposedly they were being paid less montly compared to what they were signed up for, like a guy signed up for 20k got 16k, then 12k, then some even got 8k instead of the specified amount.

I mean we totally live in some 18th century Victorian London world where there are no other mechanisms of greivance redressal except chimping out and destroying everything exist, right?

Good they didn't burn the factory manager like that one MS plant in Manesar, Haryana long ago.

BS.. let the facts come out.

when I was in college, we “destroyed” the campus based on rumours and mob mentality. One of my first lessons on how mob mentality works.

thank god, we didn’t have petrol nearby, people would gave burnt it down.

 

[shade]

BS.. let the facts come out.

when I was in college, we “destroyed” the campus based on rumours and mob mentality. One of my first lessons on how mob mentality works.

What was BS? the part where they received less salary than promised or the part that these is no grievance redressal mechanism available?

 

[Suryavanshi]

*Rioting.
Supposedly they were being paid less montly compared to what they were signed up for, like a guy signed up for 20k got 16k, then 12k, then some even got 8k instead of the specified amount.

I mean we totally live in some 18th century Victorian London world where there are no other mechanisms of greivance redressal except chimping out and destroying everything exist, right?

Good they didn't burn the factory manager like that one MS plant in Manesar, Haryana long ago.

Case should be taken to the court.
The rioters must be fined.
And also case should be taken up against the company on why they were paying less.

Riots shall not be tolerated, courts are there for a reason.

 

[ezsasa]

What was BS? the part where they received less salary than promised or the part that these is no grievance redressal mechanism available?

the part where there is no grievance redressal system, every IR/HR is equipped to handle this sort of basic issues.
Westron management will learn their lesson, Koreans and Japanese management were also like this in early years, it’s part of their education on how to manage their workers.

from an Indian economy perspective, we need companies who are smart to manage the circumstances and have a long term commitment, not cry babies. Cry babies don’t last long in india. We don’t need companies that issue pull out blackmail when ever they can’t manage internal issues, just because they haven’t hired the right talent.

 

[shade]

Case should be taken to the court.
The rioters must be fined.
And also case should be taken up against the company on why they were paying less.

Riots shall not be tolerated, courts are there for a reason.

Yes it will be, the main instigators will get Life term like the MS Plant( Manesar,Haryana ) violence of 2012 instigators got in 2017.
Paying less needs an investigation first before court case to ascertain whether the allegations are true and to what extent.

 

[shade]

the part where there is no grievance redressal system, every IR/HR is equipped to handle this sort of basic issues.
Westron management will learn their lesson, Koreans and Japanese management were also like this in early years, it’s part of their education on how to manage their workers.

from an Indian economy perspective, we need companies who are smart to manage the circumstances and have a long term commitment, not cry babies. Cry babies don’t last long in india. We don’t need companies that issue pull out blackmail when ever they can’t manage internal issues, just because they haven’t hired the right talent.

Yes but this makes for bad optics, you can expect Gloomberg, FT, Nikkei and the likes running articles on this
In any case there is no blackmail involved here, just an arson attack on some companies' facilities.
Leaving Wistron other companies planning investments/expansions here could have doubt over this( I think, not sure about how these decisions are made )

 

[hit&run]

Clear sabotage. Government of lotus eater morons, dumb assholes. No CID, no Policing, no network of informants, loser have no policy or resources to protect Industrial complexes.

In another news massive fire in a chemical factory in Hyderabad.

 

[ezsasa]

Yes but this makes for bad optics, you can expect Gloomberg, FT, Nikkei and the likes running articles on this
In any case there is no blackmail involved here, just an arson attack on some companies' facilities.
Leaving Wistron other companies planning investments/expansions here could have doubt over this( I think, not sure about how these decisions are made )

if the discourse is that we can easily be blackmailed, tomorrow they will blackmail saying there are too many mosquitoes in the plant.

Let them write what ever they want, we want companies who are confident of handling this stuff, not cry babies.

A millennia of islamic rulers and British couldn’t tame Indians, how the heck will private companies do that.

 

[shade]

if the discourse is that we can easily be blackmailed, tomorrow they will blackmail saying there are too many mosquitoes in the plant.

Let them write what ever they want, we want companies who are confident of handling this stuff, not cry babies.

A millennia of islamic rulers and British couldn’t tame Indians, how the heck will private companies do that.

No, no, the discourse is that " India is a country of riots and rampaging factory workers, better take your investment to Vietnam instead ".
Then again I am not 100% on what all factors are in play using which companies decide to Invest in a country.

Thing is Wistron cannot pull out of India even if they do drama saying they will, since this is a small "accident" in whatever long term plans they have in India.

But the question arises about other manufacturing companies which could invest in India in the future


btw there is no question about " taming Indians " boss, this isn't the EIC, most likely this is some union sponsored Gunda gardi vs a possibly greedy or cash strapped Taiwanese company.

Anyway we will get detailed info about the low payment allegations in the coming days.

 

[YagamiLight]

What was BS? the part where they received less salary than promised or the part that these is no grievance redressal mechanism available?

Wow So you support burning down the factory which feeds you?. What happened was atrocious. When I first heard the news, I thought I was watching USA or some banana republic in Africa where blacks were looting and rioting again.

 

[YagamiLight]

What an absolute mess. Even if there were grievences, breaking down the property which is giving them employment and livlihood is no way to protest it.

BJP has proven that it is nothing but communist + cow party. Absolute shitshow. No protection of law and order. What does it think it is doing? If the BJP clowns think they can get commie votes by being more communist than the commie morons, then they are sadly mistaken. They will certainly lose more moderate and centrist votes with these absolute madness and lack of law and order.

People of Karnataka certainly deserve better than this.

 

[shade]

Wow So you support burning down the factory which feeds you?. What happened was atrocious. When I first heard the news, I thought I was watching USA or some banana republic in Africa where blacks were looting and rioting again.

No ?
The factory doesn't "feed" me, maybe the workers, Wistron is one of the OEMs assembling iPhones for Apple.

My point is inspite of there being *some* grievance redressal mechanism for this "less pay given compared to promised amount" issue, they don't go through that procedure first, but instead directly go on a rampage vs the factory?

It seems all too convenient for me, that they directly go to breaking and burning stuff, instead of the rational alternatives.

 

[Cruise missile]