In 8 months not a year, in a few weeks we will surpass Russia in terms of ForEx.Indian foreign Reserves of 3 Jan 2020 - $461.16 Billion
Foreign reserve as of 20 November 2020 - $575.29 Billion
India added more than $100 billion in a year
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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.In 8 months not a year, in a few weeks we will surpass Russia in terms of ForEx.
Do they actually MAKE anything? AFAIK they just assemble, package and sell at VFM price bracket.They were just rebranding phones made in China, first time they are making them in India.
Assemble is "make" too my nibber.Don't be confused over semantics.Do they actually MAKE anything? AFAIK they just assemble, package and sell at VFM price bracket.
Indian foreign Reserves of 3 Jan 2020 - $461.16 Billion
Foreign reserve as of 20 November 2020 - $575.29 Billion
India added more than $100 billion in a year
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I already said about it in August. But this will achieved before 31.In 8 months not a year, in a few weeks we will surpass Russia in terms of ForEx.
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.What is the significance of Forex? how will these billions help us?
Stabilises Rupees from big fluctuations.What is the significance of Forex? how will these billions help us?
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.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.
Plus all world financial institutions insist on maintaining 12 months of imports. Our annual imports are about $617 billion. So, looks like RBI wants to get to a cushion of maintaining $600-$650 billion dollars to cover 12 months of imports.Stabilises Rupees from big fluctuations.
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.Do they actually MAKE anything? AFAIK they just assemble, package and sell at VFM price bracket.
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.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’s Top Exports 2022
Russia’s top exports in 2022 best Russian exports customers & major Russian companies plus a searchable list of 100 most valuable Russian export productswww.worldstopexports.com
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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.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.
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.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.
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.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.