Indian Economy: News and Discussion

[sorcerer]

HP starts local manufacturing of laptops, other devices

IBEF: March 02, 2022


HP becomes the first global computing giant that has begun manufacturing laptops in India, in addition to desktop towers, mini desktops, and display monitors, as part of the government's 'Make in India' programme and production-linked incentive (PLI) scheme for electronics. It is also the country's top seller with a 31.5% market share, has increased its Made-in-India reputation by investing alongside manufacturing partner Flex at the latter's Chennai site. According to HP MD Mr. Ketan Patel, HP is expanding its locally created product line and are not afraid to make additional investments. HP's local drive comes at a time when the government is promoting domestic electronics manufacture aggressively, announcing plans such as a PLI for IT hardware and a US$ 10 billion plan to localise semiconductor production. HP’s revenues are expected to be about US$ 3 billion and its sales climbed 59% in 2021.

The demand for digital items such as laptops and desktops has increased dramatically as a result of factors such as work-from-home and education-from-home. With its product line, the company has made significant gains in the gaming and lifestyle areas, in addition to gaining traction in the small and medium enterprise category. The global shortage of semiconductors operated as a barrier in terms of customer delivery, however this aided HP and its competitors such as Dell, Lenovo, and Apple. With devices like HP EliteBooks, HP ProBooks, and HP G8 series notebooks, HP is manufacturing such a wide range of laptops in India for the first time.

 

[assassin162]

Even Services exports won’t be able to compensate for the trade deficit as our services imports are also very high. Thanks to visionary schemes like Make in India we’re a manufacturing power house running huge trade deficits. Keep trolling axtanis as we’re worth comparing to them only.

Currently trade gap is rising due to gas/oil price issue. It is twice or thrice as high as high as we would have expected one year back.
Value of refinery produced products is also increasing in value due to that but clearly Petroleum import is much much greater than the byproduct we will export.

 

[ym888]

8.1% growth for a $14 trillion economy? That's insane. I read somewhere that typically the growth trickles to around 1-3% after crossing $5 trillion mark, like Japan and Germany did.

Somewhere something is just not right. I am not an economist but there's a butt-load of pressure being built up somewhere in the value chain. The day it blows up, its' going to screw up the entire planet. COVID-19 was a trailer of what's coming.

You can't run a country like an Flipkart forever.

8.1% growth is a special year because it was 2.3% growth the year before.

China's population is six times that of Germany and Japan combined.

China's per capita GDP is only 25% of that of Germany and Japan .

so China's economy has a lot of room to grow.

 

[another_armchair]

Even Services exports won’t be able to compensate for the trade deficit as our services imports are also very high. Thanks to visionary schemes like Make in India we’re a manufacturing power house running huge trade deficits. Keep trolling axtanis as we’re worth comparing to them only.

Would be a little premature to pass harsh judgement given the prevailing rates of energy commodities we import.

Our petroleum exports to Iran are also limited because of sanctions.

A segment wise break up of our import data would help understand what's adding to the deficit, imports from China notwithstanding...the China pain can be mitigated if we stop the L1 rule from our power and energy sector.

 

[Haldilal]

Ya'll Nibbiars The Chalet Hotels recently confirmed they've scrapped plans to build a new 'W' Hotel on its existing land parcel marked in red in the Powai Hotel Complex alongwith Renaissance which is now Westin due to demand-supply reasons.

Instead of the hotel, they'll be building another commercial building with 750,000sqft of leasable space.

They already have a commercial building of 780,000sqft in advanced stages of development in the complex marked in green.

 

[Haldilal]

Ya'll Nibbiars The Large project of 77 storeys 8 building projects has now started.

 

[Haldilal]

Ya'll Nibbiars The Aurangabad's First 37 storey skyscraper to come up in Satara Locality.

 

[Haldilal]

Ya'll Nibbiars The Scan Steels Ltd Invest 250 Crore rupeesfor expansion/modernisation of its manufacturing unit in Odisha.

 

[Haldilal]

Ya'll Nibbiars The BMC has already floated tenders for one of the bridges. Construction of Vehicular Bridge behind Bhagat Singh Nagar across Goregaon Creek at boundary of K/West and P/South Ward Est. Cost: 325.19 Crore Rupees.

 

[iNorthernerOn9]

Indian diaspora is more of a burden, liability & a permanent hole in our non existent info warfare capability.

(Don't bring to me that remittance shit)

 

[Immanuel]

Indian diaspora is more of a burden, liability & a permanent hole in our non existent info warfare capability.

(Don't bring to me that remittance shit)

$87 Billion in Remittances in 2021, thats almost twice the defence budget. Chill

 

[ForigenSanghi]

$87 Billion in Remittances in 2021, thats almost twice the defence budget. Chill

You do realise that the remittance money is still owned by the NRIs (and they collect interest on it).

Its not as if they are giving it to the govt. Pointless to compare it to the defense budget.

Remittances are of little importance right now and will become entirely useless in 10 years time.

 

[mokoman]

You do realise that the remittance money is still owned by the NRIs (and they collect interest on it).

Its not as if they are giving it to the govt. Pointless to compare it to the defense budget.

Remittances are of little importance right now and will become entirely useless in 10 years time.

its a lot of money , and that money goes into the indian economy doesnt it ?

defence budget is much less than that . 54 billion according to wiki

even total trade with US (both export and import) is only 110 billion. for Russia its a paltry 10 billion .

never realized we receive so much money from NRI chutias , god bless them.

 

[Covfefe]

its a lot of money , and that money goes into the indian economy doesnt it ?

defence budget is much less than that . 54 billion according to wiki

even total trade with US (both export and import) is only 110 billion. for Russia its a paltry 10 billion .

never realized we receive so much money from NRI chutias , god bless them.

Technically their money is counted as External Debt on India, but yeah, good to have that money for economy

 

[Immanuel]

You do realise that the remittance money is still owned by the NRIs (and they collect interest on it).

Its not as if they are giving it to the govt. Pointless to compare it to the defense budget.

Remittances are of little importance right now and will become entirely useless in 10 years time.

You seem to have forgotten the other side of banking, that money isn't just sitting out there for air, it goes out for loans of all sizes. In 10 years time that amount will be more than 5 times what it is now. Also while NRE accounts aren't taxed, NRO do have 30% tax on interest.

 

[mokoman]

Technically their money is counted as External Debt on India, but yeah, good to have that money for economy

how is that ?

doesnt more remittance = more forex reserve = more money to pay external debt ?

 

[ezsasa]

how is that ?

doesnt more remittance = more forex reserve = more money to pay external debt ?

two types of remittances, some amount stays in NRI savings account(this is a liability on RBI books), some amount gets into economy ( this is welcome from economy perspective to an extent).

25% of our external debt belongs to the first category, NRI savings.

 

[Porkislayer]

how is that ?

doesnt more remittance = more forex reserve = more money to pay external debt ?

Remittance is counted as transfer payments and isn't "debt" in any way. OTOH, if NRI deposits some money in a bank in india, it is considered debt.

 

[Porkislayer]

two types of remittances, some amount stays in NRI savings account(this is a liability on RBI books), some amount gets into economy ( this is welcome from economy perspective to an extent).

25% of our external debt belongs to the first category, NRI savings.

Yes, but technically that's not remittance but "NRI deposit".

 

[mokoman]

two types of remittances, some amount stays in NRI savings account(this is a liability on RBI books), some amount gets into economy ( this is welcome from economy perspective to an extent).

25% of our external debt belongs to the first category, NRI savings.

didnt know that

for 2019

foreign curreny ( external debt) 24 billion
rupee ( no debt) : 105 billion
total: 130 billion

never realized so much came in this way.