Indian Economy: News and Discussion

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Well there is Logic behind it. Pre 17th century it was largely agrarian. After that it was Industry and Innovation.
Yes, that's called Great Divergence when ideas of industrialising and producing everything on large scale, travelling countries around world, colonising them and using their knowledge changed the fate of Europe.
Colder climate helps in that. Not extreme cold though. Europe/ USA have been lucky because of it. Yes advent of Air Conditioners has changed things a lot but still hot is hot.

I mean just think Newton in sweltering Delhi Summer at 45 degree thinking of Apples. He would rather think of Water to survive.
Cold climate is equally harsh as hot one. Newton's joke is just a pathetic one, Newton didn't get famous just by seing a falling Apple, he was obsessed with physics and has done tonnes of calculations and theories on topic throughout his life.

Just a pathetic attempt to frame that was west some sort of monopoly on knowledge what it hasn't. They were nothing exceeding 4 centuries ago.

Nothing barrs a philosopher from discovering thugs. He tracks everything and that's why everywhere in world where settled civilisations are there and nomadism has ended, knowledge and discovery has existed.
Gov Job is associated With job stability and prestige. Many youth don't even consider private job as a legit job.
Many time I've had this conversation with my peers from BIMARU, question was always "job kaha he" when I made them count all the new jobs in private sector they simply resorted to "Private job koi job nahi hoti, hum sirf gov job hi karenge".

People want an easy life even if it costs the country dearly or even if the system cant't sustain it
I think I was indicating same, not at odds with it. Engineers filled peons jobs since it was government.
 

Haldilal

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Uniqlo launches e-commerce operations in India
Meenakshi Verma Ambwani

3-4 minutes


Japanese apparel retailer Uniqlo, which entered India in 2019 through the single brand FDI retail route, is launching its full-fledged e-commerce operations in the country.
This comes at a time when online shopping is gaining strong traction amidst the pandemic. “The company expects 15 per cent of its total sales to come from the online channel in due course,” a top official at the company said.
 

Haldilal

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Ya'll Nibbiars


 

Haldilal

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Foreign Exchange Reserves
Item
As on July 16,
2021
Variation over
Week End-March 2021 Year
`Cr. US$ Mn. `Cr. US$ Mn. `Cr. US$ Mn. `Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4572099 612730 5179 835 353147 35746 688878 95093
1.1 Foreign Currency Assets 4243914 568748 2485 463 319746 32055 666481 91868
1.2 Gold 278573 37333 2753 377 30850 3453 17942 2590
1.3 SDRs 11554 1548 5 1 691 63 643 94
1.4 Reserve Position in the IMF 38058 5100 -64 -7 1860 175 3813 540
 

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Tirupati Graphite starts operations at Graphene & Technology Centre in India


 

Haldilal

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The Maharashtra Industrial Development Corporation MIDC is set to build a residential township as part of developing a huge industrial facility spanned over 6,000 acres for hardware production in Talegaon Phase IV. In this project, a 60:40 ratio will be applied to build support facilities for the residence, informed MIDC officials. A total of 2,000 acres will be reserved for residential township and the rest 4,000 acres will be used to develop industrial facilities.

This facility, along the backwaters of Andra dam in Maval near Pune, is named Talegaon Electronic and Engineering City TEEC. It is termed as the first electronic park in the state by MIDC officials. The industrial facility is intended for hardware production industries with zero pollution. The most outstanding feature of this project is that MIDC has differed from its usual 80:20 ratio space for the industrial and residential areas. And Usually in an industrial facility, 80 percent space is given to the industry and 20 percent is kept for supporting facilities including residence and other recreational facilities. In this project, we are going to give 40 percent space for support facilities. So, in this project residential area and support facilities will be on almost 2,000 acres. This step has been taken to reduce the additional burden on Pune and Pimpri-Chinchwad cities. The residential area will also have world-class facilities.

This facility is to be constructed in Ambale, Nigade, Pavlewadi and Kalhat in Maval Taluka. According to an MIDC official, the process of land acquisition has almost been completed. TEEC is going to have convenient access from Pune and from Mumbai as well. It will have a water supply from Andra dam and will be developed into a self-sufficient township. It will have a world-class support system of schools, grounds, theatres, and an international university. Our goal is that maximum people working in the industries in this phase should live here. Residential priority will be given to what we call suitable personalities. The workers, executives in this industry will be given priority.

The e-tender has been floated under the international competitive bidding process for the consultancy companies to prepare a detailed master plan and preliminary design report for roads and services for TEEC.
 
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indus

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Ya'll Nibbiars both depend.
Write off means making NPA or selling the loan for cheap or resolution?
Writing off means letting go off the money. Accepting it in the balance sheet that this money will not come back. Lost to the last rupee. NPA provisioning has already been done by banks so they have already bled. Writing off at this stage will not make them bloodier.
 

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Who needs Tesla when you have Tata?

Scoop! Tata Altroz EV to get larger battery, 40% more range

1627222545737.png


The same battery option will be offered in the Nexon EV as well.

Buoyed by the success of the Nexon EV, Tata Motors is now gearing up to introduce the Altroz EV in the Indian market.

We have learned that the company is setting up another production line for the Altroz EV, which is expected to be launched in the near future.

The Altroz EV will use Tata's Ziptron electric powertrain. But what's more interesting is that the car is likely to get an additional battery pack option. This larger battery pack is said to offer 25-40% more range, which equates to around 500 km.

We have also learned that the same battery option will be offered in the Nexon EV as well. At present, the crossover comes with a 30.2 kWh battery pack that powers a 127 BHP electric motor. The ARAI certified range of the Nexon EV is 312 km (MIDC cycle).
 

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India’s forex reserves touch record-high of $612.73 billion, RBI data shows
According to the Reserve Bank of India's weekly data, the increase in foreign exchange reserves was due to the surge in foreign current assets (FCA) that rose by $463 million.

PTI 23 July, 2021 8:46 pm IST


U.S. dollar banknotes | SeongJoon Cho | Bloomberg
Text Size: A- A+

Mumbai: The country’s foreign exchange reserves rose by USD 835 million to touch a record high of USD 612.73 billion in the week ended July 16, 2021, RBI data showed.
In the previous week ended July 9, 2021, the reserves had surged by USD 1.883 billion to USD 611.895 billion.

In the reporting week ended July 16, 2021, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), Reserve Bank of India’s (RBI) weekly data released on Friday showed.

The FCA, a major component of the overall reserves, rose by USD 463 million to USD 568.748 billion in the reporting week.

Expressed in dollar terms, 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.

Gold reserves were up by USD 377 million to USD 37.333 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) were up by USD 1 million at USD 1.548 billion.

The country’s reserve position with the IMF declined by USD 7 million to USD 5.1 billion in the reporting week, the data showed.
 

Haldilal

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The widening gap between India’s private banks and their state-backed peers is expected to be laid bare this earnings season with investors looking for further signs that players such as HDFC Bank Ltd. are better placed to step up lending when the country’s second coronavirus wave subsides. And Many shareholders will be on the lookout for indications that private lenders have enhanced already stronger buffers to give them more wiggle room to step up lending in an eventual recovery. One metric is key private sector banks’ market share in terms of loans surged about 36% in 2020 from about 21% five years ago.

Although the relaxing of regulations on asset quality and low interest rates will likely help prop up profit, it may only be a short reprieve. Stressed loans remain elevated and credit growth is hovering near a six-decade low all of which could deteriorate even more once lenders are able to classify those loans as non performing from 2023. And expect banks with a strong franchise, robust balance sheet and governance to outpace peers in an environment impacted by the pandemic,” said Bloomberg Intelligence analyst Rena Kwok. With all eyes on quarterly results that began with HDFC Bank on Saturday, here are some key metrics to monitor showing how state lenders are lagging behind.
 

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The State bank bad-loan ratios remain elevated compared to their private peers despite declines in recent years. Apart from the largest lender State Bank of India, the other four top state banks’ bad-loan ratios were in a 9% to 14% range, compared to 1.3% at the end of March for top private lender HDFC Bank, the lowest among banks. That metric for SBI stood at 4.98%, better than state peers. HDFC Bank, the first major lender to kick off earnings season, registered a bad loan ratio of 1.47% at the end of June.

Private banks’ price-to-book ratios, a gauge of a firm’s value to investors, were more than twice that of state lenders reflecting the confidence they enjoy on the back of strong capital buffers. The relatively higher quality of those loan books also helped them to eat into the market share of most state banks, barring State Bank of India. The outlier is State Bank of India. Shares of the Mumbai-based lender surged 56% this year, outperforming peers after the lender controlled its loan slippages, stepped up bad loan buffers even as credit growth slowed down sharply. Investors will be looking for guidance on fresh bad loans and provisioning for the quarter just ended.
 
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Very big Li-ion battery manufacturing plant in Noida withing 18 months

India’s largest 3 GWh Li-ion battery factory to be set up by Lohum within 18 months
Further, the company is also looking at introducing a new battery recycling facility in Kandla, Gujarat.

By:Express Drives DeskJuly 23, 2021 3:31 PM
Lohum's old factory image used for representation

Lohum, which claims to be the world’s leading Li-ion battery player, is going to set up India’s largest factory for the same. The Noida-based company says that it will set up a manufacturing as well as recycling plant in Greater Noida. This feat will be completed within the next 18 months. The total installed capacity of this integrated facility will be 3 GWh/ 3000 MWh Li-ion batteries per annum.

This factory will also integrate the battery manufacturing capacity of 1 GWh/ 1,000 MWh and 2GWh/ 2,000 MWh of recycling per annum. More than Rs 300 crore will be invested in this facility. Currently, Lohum operates two co-located factories of 300 MWh for manufacturing new Li-ion batteries, and 200 MWh for recycling them. Further, the company is also looking at introducing a new recycling facility in Kandla, Gujarat.

Lohum operates in three verticals – two-wheeler and three-wheeler mobility segment, second is the stationary storage vertical, providing solutions to the UPS market, to the micro and mini grid markets as well as the telecom sector. The third vertical is of chemicals business where Lohum provides different kinds of extracted chemicals to intermediaries in the recycling process as well as final product manufacturers in the global ecosystem.

Rajat Verma, Co-founder Lohum, said, “At this stage our immediate goal is to expand our manufacturing as well as recycling capacity, and we do have a very significant bowl. As India moves towards creating gigawatt-hour factories, the first and most important requirement will be feedstock. And that is where a company like LOHUM steps in. It is because we have the expertise in recycling and reusing, that we are able to provide full stack solution to any automotive company out in the market,” Verma said. He further added, “We have identified land parcels for this, but at the same time, we will be setting up a smaller unit in Kandla area for recycling perspective”.

On recycling in the battery ecosystem, Rajat said, “At LOHUM, we are talking about recycling in every aspect of society. It has gained importance in the electric vehicles phase, because batteries in particular are one of the largest components of an electric vehicle – both from the cost and size perspective. If we don’t recycle batteries, we run probably into two very large problems i.e. Sustainability and we don’t want to keep digging mines, as we keep piling on the waste streams that we already have.

There’s also very critical geostrategic problem that lithium-ion batteries bring to the table. And that is probably an equally important reason why we started LOHUM, which is very uniquely positioned not just in India, but globally, wherein we provide a life cycle battery management solution, one of the few companies globally and the only organization within India, which is providing what is known as first-life batteries, Second-life batteries and end-of-life battery packs to the market.

This is the first time in the automotive industry that global OEM leaders have drawn out long term contracts with mines, to ensure the sustained input or raw material supply to meet their production and sales targets. This integrated approach allows us to provision a platform to the market through which they can meet their sustainability goals, but also more importantly, an access to raw material.”

 

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Writing off means letting go off the money. Accepting it in the balance sheet that this money will not come back. Lost to the last rupee. NPA provisioning has already been done by banks so they have already bled. Writing off at this stage will not make them bloodier.
But banks do get some money or shares back from resolution.
Isnt it?
 

Haldilal

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But banks do get some money or shares back from resolution.
Isnt it?
Ya'll Nibbiars depends on the discount given. And the @indus Nibbas post only cover one things. The most banks don't want to take task of recovering money when large retinable assets are there. As most of the time GOI simply"s bail out the PSU's banks.
 

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