Indian Economy: News and Discussion

[Suryavanshi]

Nepal is a complex case this is Indian economy thread so anything related to Nepal unless directly related to India economy should be taken to it's respective threads

 

[IndianYonko]

Only thing I can guess is Tourism.
Nepal has no major natural resource and no major industry nor does it grow anything valuable that already isn't being transported via road.
I don't know why this guy keeps obsessing with it.

Tourism?

They are chinks bro...
Dhaba bhi unka hoga, recipie bhi unki hogi aur ingredients bhi unhi ka hoga... Chinks will destroy even the remaining industries.

I don't understand the fantasy of this guy with Chinks. Name one country which has benifited from Chinks.

 

[SKC]

Not necessarily, In sequence of events china's economy liberalised 17 years ahead of us.
Secondly India's recognition as suppliers of IT workers for the world was a coincidence, thanks to Y2K.
Thirdly Pakistan is the match maker between USA and China in late 60's, both have been co-ordinating since then.
and lastly, US always believed we are in Russia camp, even today to an extent.

No matter what we offer, match fixing between US and China was already done. After Japan's economy started stagnating in late 90's, US simply shifted their interests to China next door.

Things became cosy between US and China from the events following Ping-Pong diplomacy. On surface level they may talk sh*t about each other but at the backend they have been doing business together since 4 decades now.
US says China is becoming stronger at military but there was a time in 1980s and early 1990s where US was china's biggest arms supplier and cheap China made civilian arms filled US market. (No source with me now, read long time back about this.)

When labor become costly and manufacturing lower cost items became infeasible in US, all companies ran to China only. You can attribute this to the Efficient bureaucracy of China, all CCP members were kind of getting commissions based on how much work they can manage to pull into China from US.

 

[ezsasa]

Advance notice
Get ready for exports to be hit this fiscal.
=====
China customs says trade may slow in second-half, flags pandemic uncertainties

China customs says trade may slow in second-half, flags pandemic uncertainties

China's customs administration spokesperson Li Kuiwen said on Tuesday that the country's trade may slow in the second half of 2021, mainly reflecting the statistical impact of the high growth rate last year.

www.reuters.com

 

[angryIndian]

could have would have doesn’t work in real life, if we take this path of reasoning, we can go keep going back up to Islamic invasions.

We can’t change neither the past nor associated ground realities, it is what it is. Past has already been written, future is yet to be written. Can only learn from the past.

You are right,there is no point in crying about the past but one should learn from it so that you don't make the same mistakes in the future....

The question is, has India learned anything from the giant mishandling of the past 30 years ?

 

[ezsasa]

The question is, has India learned anything from the giant mishandling of the past 30 years ?

That's too big and open ended a question to answer, pick a topic so that we both can look at it in a unbiased manner to arrive to a conclusion.

 

[sauntheninja]

You are right,there is no point in crying about the past but one should learn from it so that you don't make the same mistakes in the future....

The question is, has India learned anything from the giant mishandling of the past 30 years ?

We have grown the fastest we ever have in these last 30 years and are on the cusp of becoming an economic powerhouse just continue that

 

[sorcerer]

India's agricultural exports will cross US$ 40 billion in FY22: NABARD Chairman

IBEF: July 13, 2021


According to Mr. GR Chintala, Chairman, National Bank for Rural and Agriculture Development (NABARD), the agriculture exports market in India is expected to exceed US$ 40 billion in FY22, due to solid demand worldwide for commodities such as oilseeds, oilcakes, cotton, sugar, non-basmati rice. The enhanced understanding of the Indian farmers of the world’s market is also expected to contribute to the export growth.

Mr. Chintala said, “Farmers have recognised the international market needs and the demand of the quality products. This is contributing to the growth of agriculture exports from India. The market in China has emerged as a key purchaser of agriculture products in the world markets. Also, we are in the middle of a commodity super cycle.”

In FY21, the agriculture and allied products (including marine and plantation products) export market increased to US$ 41.25 billion as compared to US$ 35.16 billion in FY20, US$ 38.74 billion in FY19 and US$ 38.43 billion in FY18.

Mr. Chintala said Farmer Producer Organisations (FPO) are performing a crucial part in boosting exports from the country. In India, there are ~ 8,000 FPOs, of which 4,868 FPOs are supported by NABARD and its subsidiaries. The farmers’ gains have grown by 20% - 40% post joining FPOs as they receive the inputs at competitive prices, lease machinery and add value to their production to earn better prices in the markets.



For FY22, NABARD has set a disbursement target of Rs. 7.5 lakh crore (US$ 100.70 billion) for rural and agriculture development as compared to Rs. 6.57 lakh crore (US$ 88.21 billion) in FY21.



To guarantee farmers achieve minimum support price for their production, NABARD has boosted procurement operations of several state governments. The NABARD chairman added, “In FY21, on procurement head, we had disbursed ~ Rs. 50,000 crore (US$ 6.71 billion). In FY22, we aim to expand it by another Rs. 5,000 crore (US$ 671.34 million) – Rs. 10,000 crore (US$ 1.34 billion).”

NABARD has initiated Rural Infrastructure Assistance (RIAS), a new product for eastern India states. Mr. Chintala said, “We are witnessing a keen interest from the eastern India states to borrow under RIAS to build medical infrastructure.”

 

[sorcerer]

RBI comes up with scheme for retail investment into govt securities

IBEF: July 13, 2021


On Monday, the Reserve Bank of India (RBI) introduced the 'RBI Retail Direct' scheme to enable retail investment into government securities.

As per the RBI statement, the scheme is expected to help individuals or retail investors open and keep the 'Retail Direct Gilt Account' (RDG Account) with the central bank, will be initiated in a later date.

RDG Account can be initiated through an online portal offered for the intent of the scheme.

The portal will also offer the registered users services to access the primary issuance of the government securities and gain access to NDS-OM.

In February, 'the RBI Retail Direct' facility was announced as part of the initiative to boost retail involvement in government securities and improve ease of access by retail investors through online access to the government securities market. It also aims to offer the capability to begin their gilt securities account with the RBI.

Government securities or bonds, also known as G-Secs are debt instruments released by the Reserve Bank of India, on behalf of the state or Centre governments.

 

[sorcerer]

Finance Minister Smt Nirmala Sitharaman and Finance Minister of Bhutan Mr Lyonpo Namgay Tshering jointly launch BHIM–UPI in Bhutan



Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman, along with her counterpart, the Hon’ble Finance Minister of Bhutan, Mr Lyonpo Namgay Tshering, jointly launched BHIM–UPI in Bhutan today afternoon in a virtual ceremony. The function was also attended by the Minister of State (Finance) Dr. Bhagwat Kishanrao Karad, the Governor of the Royal Monetary Authority of Bhutan Mr Dasho Penjore, Secretary, Department of Financial Services, Shri Debasish Panda, the Ambassador of India to Bhutan, Ms Ruchira Kamboj, the Ambassador of Bhutan to India General V. Namgyel, and the MD & CEO of NPCI Shri Dilip Asbe.


Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman, Minister of State for Finance Dr Bhagwat Kisanrao Karad and Secretary, Department of Financial Services Shri Debashish Panda at the BHIM-UPI launch in New Delhi today.


While speaking on the occasion, Smt. Sitharaman said that the services have started in Bhutan under India's neighbourhood first policy and India is proud of our achievement and feel pleasure in sharing it with our valued neighbour. The Finance Minister said that BHIM UPI is one of the brightest spot and an achievement for digital transactions in India during the time of COVID-19 pandemic with more than 100 million UPI QRs have been created in last 5 years and BHIM UPI in 2020-21 has processed 22 billion transactions worth value Rs 41 lakh crore.


The Finance Minister of Bhutan, Mr Lyonpo Namgay Tshering, thanked and appreciated the Government of India for the launch of BHIM-UPI services in Bhutan and added that the bond between the two countries has become stronger each passing day.

This launch fulfils the commitment made by the two countries during the Hon'ble Prime Minister of India’s State visit to Bhutan in 2019. Following that visit, India and Bhutan have already enabled inter-operability in acceptance of Rupay cards in each other’s countries in two phases – acceptance of Rupay cards issued in India at Bhutan based terminals in the first phase, and vice versa in the second phase.





With today’s launch of BHIM-UPI in Bhutan, the payment infrastructures of the two countries are seamlessly connected and will benefit a large number of tourists and businessmen from India who travel to Bhutan each year. This will enhance the ease of living and ease of travelling through cashless transactions at the touch of a button.





As a part of the launch, Smt. Nirmala Sitharaman also made a Live transaction using BHIM-UPI to purchase an organic product from a Bhutanese OGOP outlet, which sells fresh farm produce made organically by local communities in Bhutan.





Bhutan is the first country to adopt UPI standards for its QR deployment, and the first country in our immediate neighbourhood to accept mobile based payments through the BHIM App.

 

[angryIndian]

We have grown the fastest we ever have in these last 30 years and are on the cusp of becoming an economic powerhouse just continue that

With a per capita income in bottom 25% quantile ,a revenue generation lower than tiny italy and an economy the size of UK despite 20X population, I wouldn't call India an economic powerhouse.

India economic growth is simply negated by it's pressing socio economic challenges which consumes lions share of annual budget leaving very little for other critical items like R&D,Hi end infrastructure, diplomacy.

No doubt It can become in future if it makes right decisions today . The country has all the ingredients to become one.

 

[Suryavanshi]

We have grown the fastest we ever have in these last 30 years and are on the cusp of becoming an economic powerhouse just continue that

A little bit of correction superpowers can mean many different thing.
U can be a economic superpower.
Diplomacy superpower or a military superpower.
Russia event after it's collapse remained a military giant up until now.
U can be considered a full fledged superpower when u have a large economy military and a strong diplomacy.

 

[sauntheninja]

SpaceX to partner with Indian companies to manufacture satellite communications gear

“SpaceX is excited to find ways to work together with the Indian industry for manufacturing products for its Starlink devices,” said director Matt Botwin

www.businesstoday.in

 

[FalconSlayers]

Bihar government to provide free office space to emerging IT startups

PATNA: The Nitish Kumar government has launched the ‘Invest IT Bihar’ campaign that aims at encouraging investors and entrepreneurs to invest in the IT sector o

www.newindianexpress.com

@Chandragupt Maurya

 

[angryIndian]

That's too big and open ended a question to answer, pick a topic so that we both can look at it in a unbiased manner to arrive to a conclusion.

you can talk about employment and job creation

 

[IndianYonko]

SpaceX to partner with Indian companies to manufacture satellite communications gear

“SpaceX is excited to find ways to work together with the Indian industry for manufacturing products for its Starlink devices,” said director Matt Botwin

www.businesstoday.in

Scamster yahan tak aa gya...

Bihar government to provide free office space to emerging IT startups

PATNA: The Nitish Kumar government has launched the ‘Invest IT Bihar’ campaign that aims at encouraging investors and entrepreneurs to invest in the IT sector o

www.newindianexpress.com

@Chandragupt Maurya

Take it with lots of Salt,. Its BIHAR.

 

[ezsasa]

you can talk about employment and job creation

what's your take on this? is there a assumption that something is not upto the mark?

 

[no smoking]

When labor become costly and manufacturing lower cost items became infeasible in US, all companies ran to China only. You can attribute this to the Efficient bureaucracy of China, all CCP members were kind of getting commissions based on how much work they can manage to pull into China from US.

That is incorrect.

The US industries re-location started in 1960s, the first destination was Japan, then from Japan to the four Asian dragons. After that, it was other South Eastern Asia. Finally, it was re-located from South Eastern Asia to China in 1990s.

 

[Indx TechStyle]

what's your take on this? is there a assumption that something is not upto the mark?

you can talk about employment and job creation

He didn't mean it by naive approach of oversimplifying to only top layer of topic but asking you specific. Since you picked China here, your topics would be economic diversification and rapid industrialisation and not the inefficient way of job creations and subsidies what a failed socialist nation usually does (just for the sake of creative jobs). It also includes eras of jobless growths sometimes.

Obviously the approach and perspective separates an angry Indian yelling over inflation throughout decades from an educated Indian who is rather interested in studying both positive and negative impacts and causes of different economic situations.
It is not as simplistic as a political debate on a barber shop.

 

[Haldilal]

Ya'll Nibbiars now the fall will be also fast.

Adani Group crosses $100 billion in market cap in FY22

In FY21, the consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) of Adani Group's listed portfolio was over Rs 32,000 crore, up 22 percent year-on-year.

www.moneycontrol.com