Indian Economy: News and Discussion

Gautam Sarkar

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JUST IN: Amazon is in early-stage talks to buy a stake worth at least $2 billion in Indian mobile operator Bharti Airtel, Reuters reports. This comes amid reports of Google investing in Vodafone Idea after Facebook invested in Jio. Fascinating FAANG battle in India.

 

Prashant12

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India's forex reserves surge to all-time high of USD 493.48 billion

Mumbai, Jun 5 (PTI) The country's foreign exchange reserves surged USD 3.43 billion to a fresh all-time high of USD 493.48 billion for the week ended May 29 on a handsome accretion of the core currency assets, the Reserve Bank of India (RBI) said on Friday.
The reserves, which are counted as a key strength as the country faces the economic impact of the COVID-19 pandemic, had risen by USD 3 billion to an all-time high of USD 490.044 billion in the previous week.
During the week ended May 29, foreign currency assets, a major component of the overall reserves, increased by USD 3.50 billion to USD 455.21 billion, data from the RBI showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Total value of the gold reserves continued to decline and were at 32.682 billion, lower by USD 97 million as compared with the previous week, the central bank said.
In the reporting week, the special drawing rights with the International Monetary Fund (IMF) were unchanged at USD 1.43 billion, while India's reserve position with the IMF also rose by USD 31 million to USD 4.16 billion during the reporting week, the data showed. PTI AA HRS

 

IndianHawk

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Jio seems to be gold pot now . It's stake is selling and selling in billions.


That's almost 13 billion dollars investment in just 6 weeks!!
 

Kumata

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@captscooby81 your industry related....
===
Finally somebody took on the builder lobby to fight for affordable homes for the middle class. Kudos to Piyush Goyal.

Seems like affordable housing is getting the next push.. the OC for my Flat was stuck since a year and they suddenly cleared all when even water and sewage is not there ....
 

Kumata

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Jio seems to be gold pot now . It's stake is selling and selling in billions.


That's almost 13 billion dollars investment in just 6 weeks!!
So mota bhai have recovered all his investment per se....and still own the Jio...
 

IndianHawk

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Jio seems to be gold pot now . It's stake is selling and selling in billions.


That's almost 13 billion dollars investment in just 6 weeks!!
For comparison India got total 74 billion usd fdi in entire year.
 

IndianHawk

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Can you enlighten me if this 13B will just go into Ambani's kitty or will it also help our economy in any way?
It's helping our economy .

First. Jio is being rewarded for investment it made into Indian 4g. Ambani spend billions of his own to create 4g infrastructure. Which is you and me are using right now. Entire India is benefiting from that 4g infrastructure. Which have brought us on equal footing with many developed nations .

Second . The scale of that investment kept 4g most affordable in India than anywhere else in the world. Thanks to cheap internet and free voice calls. Indians saved billion of dollars and spending . That money went into savings / investment and other consumer spending again benefitting economy .

Third now this investment rewards jio for it's success and creates wealth. Jio valued at 70-80 billion usd means all investors of jio and by proxy all investors of reliance are richer by a lot. Many many new multi millionaire are being created with this value addition.

Fourth jio venders of all types small and big are now assured of more works as a strong jio will keep dominating 4g 5g scene. More money means more projects more works in economy .

Fifth. Jio is so big now that it can undertake ambitious projects like 5g hardware on its own. Again benefitting the nation.

Sixth . Investment brought dollars! Which we always need. Rbi should be very pleased .

And on and on.
 

Suryavanshi

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To protect personnel info & Data Its time switch to BSNL. Videshi companies started to capturing Jio, Airtel & Voda.
I don't think so as long as servers and Majority stakes of the Company Remain of Indian Origin there will be no data theft.
Yes it could all turn into Catastrophe if Government turns a blind eye to encroachment of Foreign interests.
 

Rxbanda

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It's helping our economy .

First. Jio is being rewarded for investment it made into Indian 4g. Ambani spend billions of his own to create 4g infrastructure. Which is you and me are using right now. Entire India is benefiting from that 4g infrastructure. Which have brought us on equal footing with many developed nations .

Second . The scale of that investment kept 4g most affordable in India than anywhere else in the world. Thanks to cheap internet and free voice calls. Indians saved billion of dollars and spending . That money went into savings / investment and other consumer spending again benefitting economy .

Third now this investment rewards jio for it's success and creates wealth. Jio valued at 70-80 billion usd means all investors of jio and by proxy all investors of reliance are richer by a lot. Many many new multi millionaire are being created with this value addition.

Fourth jio venders of all types small and big are now assured of more works as a strong jio will keep dominating 4g 5g scene. More money means more projects more works in economy .

Fifth. Jio is so big now that it can undertake ambitious projects like 5g hardware on its own. Again benefitting the nation.

Sixth . Investment brought dollars! Which we always need. Rbi should be very pleased .

And on and on.
Thank you for the elaborate reply!
 

IndianHawk

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Jio seems to be gold pot now . It's stake is selling and selling in billions.


That's almost 13 billion dollars investment in just 6 weeks!!
More money for jio.


Now tatal investment crossed 92000cr. In 6 weeks.
 

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