Indian Economy: News and Discussion

FalconSlayers

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shade

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I WENT TO IKEA NAVI MUMBAI BUT MOST OF THE THINGS ARE CHINESE THERE,
I THINK GOV SHOULD PROMOTE THEM FOR LOCAL MANUFACTURING AS THEY MAKE MANY PRODUCTS
Most furniture you find today is of the imported ching chong variety, and the "wood" is actually sawdust and glue pressed into sheets, it is called particle board in marketing speak.
This is the sad reality of the world.
 

Lonewolf

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Most furniture you find today is of the imported ching chong variety, and the "wood" is actually sawdust and glue pressed into sheets, it is called particle board in marketing speak.
This is the sad reality of the world.
That's why ,we should have more brands in such sectors too
 

Rxbanda

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Compiled some data from the petroleum planning and analysis cell website.
Data since 1998. Including both volume and USD.
1622908891840.jpeg


First time since 1998 there is a major dip in volume of crude oil imported compared to previous year. I believe this is mainly because of lockdowns restricting movement.
The 2015-16 period clearly shows Modi govt getting lucky with the crude oil prices.

From the ethanol blending report released this week:
India’s net import of petroleum was 185 Mt at a cost of US $ 551 billion in 2020-21. Most of the petroleum products are used in transportation. Hence, a successful E20 program can save the country US $4 billion per annum, i.e. Rs. 30,000 cr. Besides, ethanol is a less polluting fuel, and offers equivalent efficiency at lower cost than petrol
 

Sehwag213

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Compiled some data from the petroleum planning and analysis cell website.
Data since 1998. Including both volume and USD.
View attachment 93385

First time since 1998 there is a major dip in volume of crude oil imported compared to previous year. I believe this is mainly because of lockdowns restricting movement.
The 2015-16 period clearly shows Modi govt getting lucky with the crude oil prices.

From the ethanol blending report released this week:
India’s net import of petroleum was 185 Mt at a cost of US $ 551 billion in 2020-21. Most of the petroleum products are used in transportation. Hence, a successful E20 program can save the country US $4 billion per annum, i.e. Rs. 30,000 cr. Besides, ethanol is a less polluting fuel, and offers equivalent efficiency at lower cost than petrol
Check your data , 551 billion $ in 2020-21 ?
 

Lonewolf

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Compiled some data from the petroleum planning and analysis cell website.
Data since 1998. Including both volume and USD.
View attachment 93385

First time since 1998 there is a major dip in volume of crude oil imported compared to previous year. I believe this is mainly because of lockdowns restricting movement.
The 2015-16 period clearly shows Modi govt getting lucky with the crude oil prices.

From the ethanol blending report released this week:
India’s net import of petroleum was 185 Mt at a cost of US $ 551 billion in 2020-21. Most of the petroleum products are used in transportation. Hence, a successful E20 program can save the country US $4 billion per annum, i.e. Rs. 30,000 cr. Besides, ethanol is a less polluting fuel, and offers equivalent efficiency at lower cost than petrol
Adding electric mobility , and if you add railways fuel saving to it , this 4 billion saving can rise to 6 billion+ saving ,and if flex engine is introduced ,this saving can rise to much higher ,our imports but won't be too low as we export petroleum products and for that we need more crude oil ,but then we would be able to selling pure petrol diesel to our neighbors
 

Rxbanda

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Check your data , 551 billion $ in 2020-21 ?
copy-paste me galti hua saheb
here you go..
1622910072256.png

 

Crazywithmath

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Gosh! The amount of self hatred a bunch of Indians are showing in the comment section is mind boggling! Some are still stuck with the fact that Bangladesh only temporarily surpassed India on nominal GDP per capita (anomalous economic trend due to covid-19 and non-permanent by nature) which is no longer the case as per most recent IMF stats. Others are predicting that India will do even worse than Pakistan, XD.
Anyways, to talk facts, A lot of these African nations cannot even count their population properly. Some even rely on estimates rather than doing a detailed census! Nigeria, Somalia are ravaged by civil wars and tensions between various groups. Ethiopia is extremely unstable. Africa does not mean South Africa and Morocco only, my goodness! At this point a lot of African nations are literally drowning in debt. Chinese debt traps are killing them slowly. Even the much touted Rwanda, the so-called Singapore of Africa is an absolutely poor nation.
Anyways, Couptaji back with his agenda again. Don't get me wrong he tries really hard to monkey-balance and make factual videos but the point is why make videos on topics he himself has no idea about?
 

TakAman

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Gosh! The amount of self hatred a bunch of Indians are showing in the comment section is mind boggling! Some are still stuck with the fact that Bangladesh only temporarily surpassed India on nominal GDP per capita (anomalous economic trend due to covid-19 and non-permanent by nature) which is no longer the case as per most recent IMF stats. Others are predicting that India will do even worse than Pakistan, XD.
Anyways, to talk facts, A lot of these African nations cannot even count their population properly. Some even rely on estimates rather than doing a detailed census! Nigeria, Somalia are ravaged by civil wars and tensions between various groups. Ethiopia is extremely unstable. Africa does not mean South Africa and Morocco only, my goodness! At this point a lot of African nations are literally drowning in debt. Chinese debt traps are killing them slowly. Even the much touted Rwanda, the so-called Singapore of Africa is an absolutely poor nation.
Anyways, Couptaji back with his agenda again. Don't get me wrong he tries really hard to monkey-balance and make factual videos but the point is why make videos on topics he himself has no idea about?

Economic numbers are far less important than other contributions.

Where is space agency of Africa, how many satellites it has launched, any significant contributions.

Secondly, India's GDP is vastly undervalued wrt. Africa or China.

A price comparison between Nigeria's capital, Delhi and Beijing is as follows:


Everything is 50-60 % more expensive in China, be it milk, bread, school fees.

Africa is also more expensive than India. Here is Delhi vs Abuja (Nigeria capital):


African prices are also 50-60% higher than India.

Indians earn less, but are forced to spend lesser. This difference is well accounted in GDP (PPP):

Where India is 10.1 trillion, China is 24 and Africa is 6.9.

There is no comparison between India and Africa on GDP (PPP) per capita. It is 50-60% higher and if you remove South Africa and rich nations like Egypt, it will be 2-3x below.

And that too, despite having 50x more oil than India and far more natural resources and a much bigger continent.
 

Edinburgh

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Economic numbers are far less important than other contributions.

Where is space agency of Africa, how many satellites it has launched, any significant contributions.

Secondly, India's GDP is vastly undervalued wrt. Africa or China.

A price comparison between Nigeria's capital, Delhi and Beijing is as follows:


Everything is 50-60 % more expensive in China, be it milk, bread, school fees.

Africa is also more expensive than India. Here is Delhi vs Abuja (Nigeria capital):


African prices are also 50-60% higher than India.

Indians earn less, but are forced to spend lesser. This difference is well accounted in GDP (PPP):

Where India is 10.1 trillion, China is 24 and Africa is 6.9.

There is no comparison between India and Africa on GDP (PPP) per capita. It is 50-60% higher and if you remove South Africa and rich nations like Egypt, it will be 2-3x below.

And that too, despite having 50x more oil than India and far more natural resources and a much bigger continent.
Food accounts for only a small part of GDP.But the price of electricity and raw materials is the same.But in industrial goods, consumer goods, gasoline prices, India is more expensive than China.
eg Gasoline sales 96 rubles per liter in India and 75 rubles in China.
Food prices are related to local productivity , labor costs and retail rents.
 

TakAman

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Food accounts for only a small part of GDP.But the price of electricity and raw materials is the same.But in industrial goods, consumer goods, gasoline prices, India is more expensive than China.
eg Gasoline sales 96 rubles per liter in India and 75 rubles in China.
Food prices are related to local productivity , labor costs and retail rents.
Despite the gasoline prices, which is obviously better for China as it has 5x more oil reserves than India (one of the reasons why it developed before India).

The taxi rates are 5x in Beijing. And public transport like the metro rail is 3-4x in China. So even that is nullified and rather in favor of India.

I bet you can't compare how cheap Indian railway is. And even though China has HSR, China's low quality train provides same level of service as Indian trains at much much higher price.

Secondly, consumer consumption makes 70% of GDP. In which, house sales and rents is one of the major component (if not the highest) which is again 2-3x higher in china.

1 BHK in Beijing costs 7000 vs 1500 for rent (17000 INR vs 80000 INR) in Delhi:

 

Edinburgh

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Despite the gasoline prices, which is obviously better for China as it has 5x more oil reserves than India (one of the reasons why it developed before India).

The taxi rates are 5x in Beijing. And public transport like the metro rail is 3-4x in China. So even that is nullified and rather in favor of India.

I bet you can't compare how cheap Indian railway is. And even though China has HSR, China's low quality train provides same level of service as Indian trains at much much higher price.

Secondly, consumer consumption makes 70% of GDP. In which, house sales and rents is one of the major component (if not the highest) which is again 2-3x higher in china.

1 BHK in Beijing costs 7000 vs 1500 for rent (17000 INR vs 80000 INR) in Delhi:

Every city may be different, and it has something to do with urban policy.
Like the price of a subway ticket.
Shanghai subway: 33 Rs within 6 km; After 6 km, every 10 kilometers will increase by 11 Rs.
Free for people over 65, disabled, Children under 130 cm in height
Mumbai Metro
The fare structure is Rs 10 for the first three km, Rs 20 for 3 -12 km, Rs 30 for 12 -18 km, Rs 40 for 18 -24 km, Rs 50 for 24 - 30km, Rs 60 for 30 – 36 km, Rs 70 for 36 – 42 km and Rs 80 for a distance of more than 42 km.
 
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TakAman

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Every city may be different, and it has something to do with urban policy.
Like the price of a subway ticket.
Shanghai subway: 33 Rs within 6 km; After 6 km, every 10 kilometers will increase by 11 Rs.
Free for people over 65, disabled, Children under 130 cm in height
Mumbai Metro
The fare structure is Rs 10 for the first three km, Rs 20 for 3 -12 km, Rs 30 for 12 -18 km, Rs 40 for 18 -24 km, Rs 50 for 24 - 30km, Rs 60 for 30 – 36 km, Rs 70 for 36 – 42 km and Rs 80 for a distance of more than 42 km.
Even above scheme appears cheaper for India or for Mumbai.
 

sauntheninja

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I watched the video and it was terrible he didn't get into the topic till the last five minutes of the video most of the video was spent asking people to subscribe to their newspaper and other half was filled with terrible anologies. In this video he specifically mentioned two states bihar and up and compared their per capita incomes to African countries which is a useless metric because both states are growing faster and those two states are a part of india why take them as separate countries
 

Edinburgh

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I watched the video and it was terrible he didn't get into the topic till the last five minutes of the video most of the video was spent asking people to subscribe to their newspaper and other half was filled with terrible anologies. In this video he specifically mentioned two states bihar and up and compared their per capita incomes to African countries which is a useless metric because both states are growing faster and those two states are a part of india why take them as separate countries
Many emerging economies have declined over the past decade.
Screenshot_20210606_135719.jpg

South Africa and Brazil, they're killing themselves economy by playing politics and some unrealistic policies.
 

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