Indian Economy: News and Discussion

[FalconSlayers]

 

[FalconSlayers]

 

[angryIndian]

Lets say we take all money from 1% and distribute to 73% then those people will go out and buy stuff from various companies. Company owners will make lots of profit while those 73% give away their money, those profit makers will become new 1%

We have to understand here what is wealth. It is a state of resourcefulness. Wealth is not given but created. Money is product of wealth it can be given but only for a temporary period after that it is spent.

Since ancient times there have always been those who are more successful than others hance wealthy. This modern Idea of wealth inequality comes from communism. However even in Communist states there was a wide wealth disparity among ruling elites and comman workers.

There is no econmic model that ever existed or will exist where all people have equal wealth this is not possible. However living standards can be improved. To do that we need money which comes from economic wealth, that wealthy people create. So more wealthy people hance more money hance more job creation, more social programs hance higher living standards.

We humans have biological feelings towards others humans who are doing better than us or worse than us. Its calld jealousy and pity. Thats what leftist politicians invoke. "Hey look a rich guy is driving AC BMW, where a poor labourer is on a bicycle." Such statements do invoke our feelings. We do feel tempted to correct the wrong, punish BMW guy, tax him to oblivion and then you realise that labourer doesn't even have a bicycle anymore because his employer is now bankrupt.

It's true inequality exists in all corners of the world but the inequality that i am talking about is not the one we see for eg in The US where the poor have a SUV/Pick up and the rich own a Ferrari.

Here in India the rich in India are as rich as those in the Western world and poor are at par with Sub Saharan Africa.

The kind of inequality that exists in India is more commonly found in kleptocracies, plutocracies and oligarchies.

Such large disparity damages social cohesion and if you go by history is a fertile ground for rebellion and all other political collisions.


And unlike in the US,social mobility is very difficult in India as most poor have to fight for basics of life, leaving little for other stuffs like higher education, healthcare.

 

[Indx TechStyle]

Here in India the rich in India are as rich as those in the Western world

They aren't. Upper middle class of India is closer to east Europe with ability to afford vehicles. Indians with wealth at par with western rich are insignificantly low.

and poor are at par with Sub Saharan Africa.

Even they aren't. They are more at par with Mynamar, Nepal and poor countries in Southeast Asia.

Oxfam report on wealth is general considered dodgy since it doesn't account debt and is nothing more than a survey and less census. It isn't accounted in while caluculating development indicators.

 

[hit&run]

A noob question, when someone buys shares in India, what kind of acknowledgment of having bought the shares one gets and how it is stored or kept for the record. Can this acknowledgment be stolen or hacked or used by another person.

 

[yourgodisweak]

A noob question, when someone buys shares in India, what kind of acknowledgment of having bought the shares one gets and how it is stored or kept for the record. Can this acknowledgment be stolen or hacked or used by another person.

Taken from tradingqna.com & I also trade so most of this stuff is true.

1)Whatever Shares You Buy are Stored in DP , in Simple Language Digital Locker for storing Shares ,in India There are Two Locker a)CDSL B)NSDL, we at Zerodha Use CDSL . so Whatever Stockes You Buy on Zerodha will be Stored on CDSL . You can View that Stock Also on cdsl Website. so If something Happens To Zerodha You can Claim from their.
2)Funds In Demat Account
Basically, the governing body SEBI ensures that the client who has invested/deposited money with the broker does not stand to lose if the broker screws up. This holds good only in cases of fraud, counter party insolvency etc. SEBI has mandated the stock exchanges (NSE, BSE, MCX, NCDEX etc.) maintain an investor protection fund to compensate the clients of the stockbroker in the event that the unforeseen happens. It’s called “Investor Protection Fund”.

 

[indus]

A noob question, when someone buys shares in India, what kind of acknowledgment of having bought the shares one gets and how it is stored or kept for the record. Can this acknowledgment be stolen or hacked or used by another person.

Shares are stored in dematerialised form. Meaning shares are held electronically in a depository. NSDL, CDSL are two depository agencies authorised by Sebi/GoI to hold shares. When one buys through a broker the broker generates a contract note which contains the trades executed. This contract note is digitally signed.The shares when sold require authentication in CDSL. Broker demat account works like a bank account only. As a matter of fact anything can be hacked. Depends upon the security systems safeguarding the service provider.

 

[hit&run]

Shares are stored in dematerialised form. Meaning shares are held electronically in a depository. NSDL, CDSL are two depository agencies authorised by Sebi/GoI to hold shares. When one buys through a broker the broker generates a contract note which contains the trades executed. This contract note is digitally signed.The shares when sold require authentication in CDSL. Broker demat account works like a bank account only. As a matter of fact anything can be hacked. Depends upon the security systems safeguarding the service provider.

I wonder if there are hardware wallets to digitally store large amount of shares?

 

[shade]

Solar Power Manufacturing – Make In India, But At What Cost?

This is a risky strategy. If it fails, it will come at the cost of slower and more expensive growth of India’s solar power sector.

www.bloombergquint.com

Shilling has started against Solar PV Panel production ambitions.

Disable javascript to read.
lol paywall.

 

[Lonewolf]

Solar Power Manufacturing – Make In India, But At What Cost?

This is a risky strategy. If it fails, it will come at the cost of slower and more expensive growth of India’s solar power sector.

www.bloombergquint.com

Shilling has started against Solar PV Panel production ambitions.

Disable javascript to read.
lol paywall.

Bastards are always against us

 

[angryIndian]

They aren't. Upper middle class of India is closer to east Europe with ability to afford vehicles. Indians with wealth at par with western rich are insignificantly low.

The upper middle class is an infinitesimal minority in India as compared to the UK or the West where they constitute a significant chunk.Infact 7-8% of Americans are millionaires.
So in the light of this,having wealthy people with huge net worth looks more grotesque in India than in a rich developed country.

Even they aren't. They are more at par with Mynamar, Nepal and poor countries in Southeast Asia.

I don't know about your experiences in rural India but much of rural countryside faces issues of clean water, education and healthcare. The Water is often polluted with heavy metals, sewage and fecal matter, the education is highly substandard, so much so that the chances of a student dropping off midway is much higher than proceeding to college. The healthcare system is broken and children still die from easily preventable diseases. I haven't even covered things like castism,violence against women and all other forms of social malaise prevalent in the countryside.
This is one of the reason why India's HDI scores are at par with Sub Saharan Africa.

I cant say whether this is true with the countries you have mentioned above.

 

[Indx TechStyle]

The upper middle class is an infinitesimal minority in India as compared to the UK or the West where they constitute a significant chunk

It is enough to defy that rich in India are rich as west. This is not the case. West has a quite high Gini Index over higher per capita GDPs.

I don't know about your experiences in rural India but much of rural countryside faces issues of clean water, education and healthcare.

I prefer talking in figures (whether we have actual data for African nations) and number of indicators.

India's malnutrition issue is among India's weakest fronts and doesn't match with overall progress in education, economic diversification or poverty alleviation. So you may help me to verify how many of these states have how many of indicators ahead of India without holes.

List of African countries by Human Development Index - Wikipedia

en.m.wikipedia.org

This is one of the reason why India's HDI scores are at par with Sub Saharan Africa.

India's HDI is 0.645 which is well ahead of 0.547 average of Africa and most nationstates in sub Sahara Africa (and those which are ahead lie behind in inequality adjusted HDI). Not to forget that new methodology in 2020 accounts environmental indicators and gap further enlarges in terms of absolute material gains. Those with equal or higher per capita income than India are resource rich countries which have far worse poverty rates and even are in continuous state of war. Not only few mine owners or tycoons like in Nigeria or South Africa have all money, even industries are mostly primitive and dependent upon foreign companies.

There are a lot lot of things. Availability of roads, water sanitation, communication and internet penetration, knowledge, education and vocational skills, ownership of vehicles, level of industries (from clothing to Aerospace) and so forth.

 

[SKC]

They aren't. Upper middle class of India is closer to east Europe with ability to afford vehicles. Indians with wealth at par with western rich are insignificantly low.

Even they aren't. They are more at par with Mynamar, Nepal and poor countries in Southeast Asia.

Oxfam report on wealth is general considered dodgy since it doesn't account debt and is nothing more than a survey and less census. It isn't accounted in while caluculating development indicators.

Plus a lot of wealthy people in India are the one Due to Valuation of physical or business assets but not due to actual real money they have.
They are so many wealthy people in Cities who don't have any physical money in the banks but they have old pass me down land or houses.

 

[Chandragupt Maurya]

I feel that economy of UP may outgrow Maharashtra after the end of 2nd wave of Covid 19 (wuhan virus) like it outgrew Gujrat and Tamil Nadu after 1st wave
return of migrant labourers will severely impact the industries in developed areas but it will boost the growth in less industrialized areas like UP , Bihar , Rajasthan , MP etc
Covid 19 may cause permanent dent on the economy of India and the world

 

[FalconSlayers]

Vedanta Group in talks with govt to set up display fabrication unit

If it succeeds, India will get its first such facility

www.business-standard.com

 

[FalconSlayers]

32.61 Billion dollar boost in Electronics export from India.

International firms expanding production in India as govt backs investors with PLI - ET Auto

PLI Scheme: With the consolidation of Apple's manufacturing base and Tesla Inc's entry to India, 2021 is shaping up to be the year that heralds the arrival of the country as a manufacturing hub for the world.

auto.economictimes.indiatimes.com

 

[FalconSlayers]

 

[shade]

32.61 Billion dollar boost in Electronics export from India.

International firms expanding production in India as govt backs investors with PLI - ET Auto

PLI Scheme: With the consolidation of Apple's manufacturing base and Tesla Inc's entry to India, 2021 is shaping up to be the year that heralds the arrival of the country as a manufacturing hub for the world.

auto.economictimes.indiatimes.com

Old article from 12 days ago.

Vedanta Group in talks with govt to set up display fabrication unit

If it succeeds, India will get its first such facility

www.business-standard.com

This same company did the same jhumla 5 years back with LG as the tech partner, and nothing materialized.
Btw article is paywalled.

Samsung is also building a display facility and last i read they were calling engineers over to setup the equipment, but not a peep has been heard about this facility for many months now so idk what happened to it.

 

[FalconSlayers]

Old article from 12 days ago.



This same company did the same jhumla 5 years back with LG as the tech partner, and nothing materialized.
Btw article is paywalled.

Samsung is also building a display facility and last i read they were calling engineers over to setup the equipment, but not a peep has been heard about this facility for many months now so idk what happened to it.

So 12 days is too much?

 

[asaffronladoftherisingsun]

Ten times growth in BHARATS ’s AI-relevant patent applications in 2018 as compared to 2012, ranking 8th globally in filing AI patents, underscores how BHARAT has significantly shifted towards deep tech research & innovation & building path-breaking solutions :

See : https://yourstory.com/2021/04/india-artificial-intelligence-research-patents-cset-report