Indian Economy: News and Discussion

ezsasa

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spend more time understanding what’s happening on the ground, you will get your answers.

If it is answers you want, start with making a habit of reading updates on PIB website everyday, for every update there will be a corresponding industry update a few months or years later. you will have to figure out your system to connect the dots. Enough information is being posted here at DFI to cover industry side of things, both good and bad.

No matter what others say, it’s better to do your own research. You will have to make up your own mind.
@RoaringTigerHiddenDragon

let’s take this news as an example


This might look like a simple news item, but to achieve this central govt, state govt, DM’s of various districts, farmer organisations & farmers have coordinated atleast for couple of years to make it happen. Nothing happens out of the blue.

there is enough complexity in the system, it’s entire upto the interest of the individual to go into depth to understand the nitty gritty of each and every aspect of economy.
 

RoaringTigerHiddenDragon

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Entire growth will.
What will happen to India 30 years later has already started in China and has been ongoing in Japan for 20 years.

No, I said India needs to grow fast for 3 decades to achieve 70% GDP per capita of China AT THAT TIME and China to slow down continously like it's today. China's current economic position will be attained by India in early 2030s or probably even 2020s if ongoing infrastructure projects produce boosts early.
My bad…looks like I misunderstood your statement. Yeah I think what you say is more realistic and in tune with my conclusions as well. I think looking beyond 2030 at this point is difficult. So first step is to get to where Chinese is TODAY as early as possible. And then build from there. i still think that’s about 7-10 years gap.
 

Indx TechStyle

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So first step is to get to where Chinese is TODAY as early as possible.
I don't think that again means anything. India can outshine China in certain fields in a couple of years. But certain things (say China produces more steel than rest of world) is a far fetched target that may take long.

A country which wishes to cultivate its potential needs to look at itself than setting up a country as benchmark. China has more than $22 trillions of worth of natural resources alone which makes a difference. India doesn't.
 

sauntheninja

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My bad…looks like I misunderstood your statement. Yeah I think what you say is more realistic and in tune with my conclusions as well. I think looking beyond 2030 at this point is difficult. So first step is to get to where Chinese is TODAY as early as possible. And then build from there. i still think that’s about 7-10 years gap.
Its not like China will stop growing from 2022 their demographic problem will not be apparent for another 20-30 years plenty of time for them to become rich specially given their ruthless government who can enact brutal reforms to change the course of the country for instance today only they banned edu tech platforms from raising money and just like that they wiped a 100 billion dollar industry
 

RoaringTigerHiddenDragon

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I don't think that again means anything. India can outshine China in certain fields in a couple of years. But certain things (say China produces more steel than rest of world) is a far fetched target that may take long.

A country which wishes to cultivate its potential needs to look at itself than setting up a country as benchmark. China has more than $22 trillions of worth of natural resources alone which makes a difference. India doesn't.
And most of that in occupied Tibet and East Turkestan. Hence all the brutal efforts to hold onto these territories.
 

Indx TechStyle

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And most of that in occupied Tibet and East Turkestan. Hence all the brutal efforts to hold onto these territories.
This has been very nature of every imperial nationstate. We went into all the stuff from creating languages, religions, culture, innovations and political systems but intercontinental expeditions were mostly missing from Indian empires.

The facts of old realms are interestingly in synergy with doctrines of current nationstates too. East Asians holding their realms with aggressiveness, west trying to exert its influence around the world yet, Africans yet ghettoised and away from modern world and Indians not going beyond defending their frontiers and regional influence.

In fact, Indian nationalists taking pride in being pacifist while those from other state take pride in being expansionist. It takes a great effort to change image and mindset of people.
 

sorcerer

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Gold Reserves in the Country


Posted On: 26 JUL 2021 6:20PM by PIB Delhi



As per National Mineral Inventory data, the total reserves/resources of gold ore (primary) in the country have been estimated at 501.83 million tonnes as on 1.4.2015; Out of these, 17.22 million tonnes were placed under reserves category and the remaining 484.61 million tonnes under remaining resources category. In India, largest resources of gold ore (primary) are located in Bihar (44%) followed by Rajasthan (25%), Karnataka (21%), West Bengal (3%), Andhra Pradesh (3% ), Jharkhand (2 %). The remaining 2% resources of ore are located in Chhattisgarh, Madhya Pradesh, Kerala, Maharashtra and Tamil Nadu. Cost of extraction of any mineral including gold vary from mine to mine.


Geological Survey of India (GSI) is actively engaged in geological mapping followed by mineral exploration (survey) for various mineral commodities including gold with the aim to identify potential mineral rich zones and establish resources. Every year, as per approved annual Field Season Program, GSI takes up mineral exploration projects in various parts of the country for augmenting mineral resource.


Recently, Government of India has amended the MEMC Rules to allow auction of composite licence at G4 level for deep seated minerals including Gold. This is expected to bring more participation from private players with advance technology in the field of exploration & mining of deep seated minerals which is expected to reduce cost of extraction of gold.


There is no proposal to restart the closed gold mines.





This information was given by The Minister of Mines, Coal and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Rajya Sabha today
 

Knowitall

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Even china never grew at 15%, no one. Even we can’t.
China did manage to hit a growth rate of 15.2% in 1984 though they could not maintain it over the years.

15% growth rate is anyways a unrealistic number i will be surprised if we are able to maintain a growth rate of 8% once the base effect is settled.
 

Marliii

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If we can keep a growth rate of 8% for five years what will be the size of our economy then?
 

sorcerer

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In a big boost to AgriBusiness, First consignment of vegetables exported to UAE from Uttarakhand

In 2020-21, India exported fruits and vegetables valued at Rs 11,019 crore compared to Rs 10,114 crore worth of exports in 2019-20


Posted On: 26 JUL 2021 3:24PM by PIB Delhi



In a major boost to agricultural produce exports from Uttarakhand, first consignment of vegetables including curry leaf, okra, pear and bitter gourd sourced from the farmers of Haridwar, was exported today to Dubai, United Arab Emirates.


The exports of vegetables come after a consignment of millets grown in Uttarakhand was exported to Denmark in May, 2021.


APEDA, in collaboration with Uttarakhand Agriculture Produce Marketing Board (UKAPMB) & Just Organik, an exporter, sourced & processed ragi (finger millet), and jhingora (barnyard millet) from farmers in Uttarakhand for exports, which meets the organic certification standards of the European Union.


The Uttarakhand government has been supporting organic farming. UKAPMB, through a unique initiative, has been supporting thousands of farmers for organic certification. These farmers produce mainly millets such as Ragi, Barnyard millet, Amaranthus etc.


Agricultural and Processed Food Products Export Development Authority (APEDA) has been carrying out promotional activities to bring Uttarakhand on the agricultural and processed food products export map of India. APEDA is planning to provide financial assistance for setting up a pack house in Uttarakhand which would fulfil the mandatory requirement or infrastructure for export of fresh fruits and vegetables to the international market.


APEDA would continue to focus on the Uttarakhand region both in terms of capacity building, quality upgradation, and infrastructure development by linking buyers to farmers through strengthening the entire supply chain of agricultural produce.


In 2020-21, India exported fruits and vegetables valued at Rs 11,019 crore compared to Rs 10,114 crore worth of exports in 2019-20, which is an increase of close to 9%.


APEDA undertakes market promotion activities for export of food products, market intelligence for making informed decisions, international exposure, skill development, capacity building and high-quality packaging.


*
 

Lonewolf

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If we can keep a growth rate of 8% for five years what will be the size of our economy then?
Use compound interest formula , and add 3% inflation to it (maybe 3.5 % ) and the number will be the realistic outcome
 

Suryavanshi

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You are correct, if I consider inflation of 4%.
Nomial GDP growth = 8% (Real) + 4% (inflation) = 12%

3*1.12^10 = 9.3 trillion USD.

He has done some error in calculation by using real GDP growth for nominal.
There is another factor that's getting ignored u will see a massive boost from the investment that are being currently made.
 

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