Indian Economy: News and Discussion

sorcerer

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Now LPG can be transported through Inland Waterways



A Memorandum of Understanding is signed between IWAI and MOL (Asia Oceania) Pte. Ltd for transportation of LPG (Liquified Natural Gas) through barges on National Waterways-1 and National Waterways-2, in the presence of Minister of Ports, Shipping and Waterways Shri Mansukh Mandaviya.

Inland Waterways Authority of India will provide support for:



Facilitating with adequate fairway.
Handling of LPG cargo on IWAI terminals/ Multimodal Terminals at Haldia, Sahibganj and Varanasi as per notified provisions and rates on request of MOL.
Providing Lease Available Depth (LAD) information on fortnightly/ monthly basis.



MOL Group is World’s largest gas carrier company and will invest for construction and operation of dedicated LPG barges under Make-in-India initiative of the Government of India. Aegis Group proposed investments for setting up storage terminals, dedicated pipelines between jetty to the terminal and necessary infrastructure at jetty for evacuation of products from barges.

























Presently, 60% of the LPG is moved through road to the various locations with a cost of Rs. 5 to 6 per metric tonne per kilometre, which the oil companies are interested in reducing. Also at times, there are issues of strikes by transporters, road blockages which cause delay in transportation. Therefore, the main area of interest for the companies is to use waterways to have a cheaper alternative to the existing mode of transportation, which is also cleaner and greener mode. Also, there are some areas which are difficult to approach through rail/ road especially in the North-East Region where IWT sector may provide usable solutions, besides the parcel size as compared to road trucks which can carry 17 MT of LPG in case of barges shall be of bigger size depending on the barge leading to economies of scale.

Besides salient features of LPG over other commodities, is that LPG is a clean cargo with zero leakages and spillage as the products are handled by pipelines in a fully closed loop with utmost safety precautions being regulated by PNGRB and PESO.

LPG cargo needs less berthing time compared to any other bulk cargo. Besides there is no requirement of conveyors, etc., installed on berths/ jetties.

Handling LPG by inland waterways will help reduce the carbon footprints, lowering the overall logistics cost, which in India stands approx. 13 to 14% of GDP, compared to global average of 8% and contributing to Government social schemes like “UJJAWLA” for LPG supply.

***
 

sorcerer

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Now LPG can be transported through Inland Waterways



A Memorandum of Understanding is signed between IWAI and MOL (Asia Oceania) Pte. Ltd for transportation of LPG (Liquified Natural Gas) through barges on National Waterways-1 and National Waterways-2, in the presence of Minister of Ports, Shipping and Waterways Shri Mansukh Mandaviya.

Inland Waterways Authority of India will provide support for:



Facilitating with adequate fairway.
Handling of LPG cargo on IWAI terminals/ Multimodal Terminals at Haldia, Sahibganj and Varanasi as per notified provisions and rates on request of MOL.
Providing Lease Available Depth (LAD) information on fortnightly/ monthly basis.



MOL Group is World’s largest gas carrier company and will invest for construction and operation of dedicated LPG barges under Make-in-India initiative of the Government of India. Aegis Group proposed investments for setting up storage terminals, dedicated pipelines between jetty to the terminal and necessary infrastructure at jetty for evacuation of products from barges.

























Presently, 60% of the LPG is moved through road to the various locations with a cost of Rs. 5 to 6 per metric tonne per kilometre, which the oil companies are interested in reducing. Also at times, there are issues of strikes by transporters, road blockages which cause delay in transportation. Therefore, the main area of interest for the companies is to use waterways to have a cheaper alternative to the existing mode of transportation, which is also cleaner and greener mode. Also, there are some areas which are difficult to approach through rail/ road especially in the North-East Region where IWT sector may provide usable solutions, besides the parcel size as compared to road trucks which can carry 17 MT of LPG in case of barges shall be of bigger size depending on the barge leading to economies of scale.

Besides salient features of LPG over other commodities, is that LPG is a clean cargo with zero leakages and spillage as the products are handled by pipelines in a fully closed loop with utmost safety precautions being regulated by PNGRB and PESO.

LPG cargo needs less berthing time compared to any other bulk cargo. Besides there is no requirement of conveyors, etc., installed on berths/ jetties.

Handling LPG by inland waterways will help reduce the carbon footprints, lowering the overall logistics cost, which in India stands approx. 13 to 14% of GDP, compared to global average of 8% and contributing to Government social schemes like “UJJAWLA” for LPG supply.

***
imagine people.we had to wait 60+ years for .these simple adjustments in economics.
fuck INC
 

Lonewolf

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Yeahhhhh... we don't have influence in South or North America(Canada anyone?), Africa was a golden opportunity which we just blew due to our internal struggles in the 80's. We had a lot of influence after Apartheid ended, and we had massive influ in Africa, with RAW also conducting ops extensively. In the end, Africa will be required by India as we grow, because we will need minerals and large farmlands, along with cheap labour(maybe 20 years time). We don't have any influence in Europe, excluding maybe UK. Middle East I agree.

FATF blacklist(discussing here as it directly pertains to the Indian economy as well, look at Indian exports to Pak indirectly AFTER Aug 5, you will find some VERY interesting stuff) is unlikely. Three countries supporting them and Pak gets out. They will probably remain in the Grey-List, but Black-List is unlikely, as they already have the support of Turkey and China. Malaysia is a bit of an unknown. If Malaysia supports us, and everyone votes like they did last time, Pak will go to the Black-List. Unlikely that this will happen. Higher forces will get someone to support Pak, while they themselves vote against Pak to maintain their veneer of benevolence and tough-on-China optic.
Is it medicine export or something else too
 

IndianHawk

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imagine people.we had to wait 60+ years for .these simple adjustments in economics.
fuck INC
We had to wait 60 + years to build f******* (edited by mod) toilets everywhere which have a multiplier effect on sanitation and health. Be thankful for whatever we achieved despite these thugs in power for so long.
 
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Lonewolf

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Wait they real change would be when gas pipeline project get completed , our gas rates would reduce , but only problem is andolanjeevi will start digging pipeline , Everytime they protest
 

no smoking

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And Do you know that when China's Upsurge in Economy started, It was a 2 Bn USD economy and way bellow the technology level of what India is today. We have a huge skilled manpower and in Next Decade, the only country in the world to have surplus skilled manpower is India. We have improved a lot in ease of doing business and infrastructure. We have surpass China in FDI after many years. We are all set to compete with china in manufacturing and among top countries in Science and technology and innovation. So your arguments are plane bluff. Now coming to the data you quoted. I am quoting from the same source.

2005$-22.90B-2.79%
2004$-12.66B-1.79%
2003$-4.23B-0.70%
2002$-5.05B-0.98%
2001$-4.25B-0.88%
2000$-4.25B-0.91%
1999$-8.77B-1.91%
1998$-7.01B-1.66%
1997$-5.15B-1.24%


Look How currency appreciated against USD in the time when we had Low Trade deficit and once again depreciated when Trade deficit rose.

Here are INR DATA against USD in 3rd column. Look at the correlation of INR Appreciating with Decreasing in Trade deficit.

1999–0058.933558.750543.332743.605069.851069.510044.790941.797539.060641.4825
2000–0159.545958.796945.684446.640067.552266.578841.483241.011341.405237.4338
2001–0260.215060.844647.691948.800068.318969.586342.181142.643838.179036.8063
2002–0364.125765.255048.395347.505074.819374.922548.090151.492539.736339.8925
2003–0465.687664.239345.951643.445077.738979.681353.989653.172540.707741.6725
2004–0566.928266.098744.931543.755082.864482.112556.552356.586341.804640.8075
2005–0664.489864.256644.273544.605079.047277.796353.912454.187539.143838.0188
Even your own data doesn't agree with you, here is the table I made with your data:

1614292218705.png


As you can see, except 2001-03.
In 2001-2002, the rupee dropped from 47.69 to 48.36 (-1.4%), the trade deficit increased from 4.25b to 5.05b (+18.8% ). Then in 2002-2003, the rupee increased from 48.36 to 45.95 (+5.2%), the deficit decreased from 5.05b to 4.23b (-16.2%). That is quite understandable. When you increase your currency value sharply, the market will not turn around immediately, the sales and purchase were still carried on the existing agreement. However, the customers won't allow this continue, they will start to either re-negotiate new prices or look for other suppliers. These will take 6-12 months to adjust. That is why the magic stopped in 2004: the rupee continued to appreciate (+2.3%), the deficit sharply jump by 199.3%.

Now coming to your second point.

I talked about trade deficit and you posted the graph of export. I know you have comprehension problem but when you enter into an argument, try to read what the other part says. Only saying others spokes man of Modi and Bhakta makes you a great economist, of course you are a great economist but otherwise you are such a troll who can not read a post carefully and replied to what is been asked.
Q1 Trade balance of India (11.7 BN Surplus)

Q2 Trade balance of India (19.8 B USD Surplus)


So, read carefully and post the source which at least do not counter your own argument.
[/QUOTE]

The so called surplus in your source is current account balance which includes service.
And the reason that India's current account got surplus in 2020 was the trade deficit had been shrinking in 2020 due to COVID.
 

HariPrasad-1

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Even your own data doesn't agree with you, here is the table I made with your data:

View attachment 79780

As you can see, except 2001-03.
In 2001-2002, the rupee dropped from 47.69 to 48.36 (-1.4%), the trade deficit increased from 4.25b to 5.05b (+18.8% ). Then in 2002-2003, the rupee increased from 48.36 to 45.95 (+5.2%), the deficit decreased from 5.05b to 4.23b (-16.2%). That is quite understandable. When you increase your currency value sharply, the market will not turn around immediately, the sales and purchase were still carried on the existing agreement. However, the customers won't allow this continue, they will start to either re-negotiate new prices or look for other suppliers. These will take 6-12 months to adjust. That is why the magic stopped in 2004: the rupee continued to appreciate (+2.3%), the deficit sharply jump by 199.3%.



Q1 Trade balance of India (11.7 BN Surplus)

Q2 Trade balance of India (19.8 B USD Surplus)


So, read carefully and post the source which at least do not counter your own argument.
The so called surplus in your source is current account balance which includes service.
And the reason that India's current account got surplus in 2020 was the trade deficit had been shrinking in 2020 due to COVID.
[/QUOTE]

You have agreed with everything yet covering it under the "quiet understandable" , because of covid etc. You don't have any point to stick to your old position except covering up of your illogical and misleading interpretation.
 

IndianHawk

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