Indian Economy: News and Discussion

[FalconSlayers]

As usual service and remittance saves the day

Even they won’t be able to, $20 bn CAD in a single month, retards in office can’t blame it on oil because we’re importing cheap af oil from Russia and Iraq, most of the trade deficit is because of China, this year they’ll have more than a $100 bn surplus in trade with India, they don’t give market access to our products but we don’t restrict their exports, our meme of a “manufacturing” industry is addicted to their dumping fixing chinese components.

 

[asaffronladoftherisingsun]

Well done Well done Well done

 

[Concard]

Can they get lithium like this? .. I know lithium is of far lesser value but it is estimated that sea water has a significant share of the world's lithium.

Yes, Lithium concentration in sea water is extremely low at 0.2 parts per million. There is a ongoing research to extract Lithium economically from sea water but I am skeptical since you need enormous amounts of energy to extract and processes sea water to harness even just 1 kilo gram of Lithium. All the Lithium in sea water is estimated at 180 billion tons which is like shit loads of Lithium.

Science | AAAS

www.science.org

.

Sodium on the other hand is present in 35,000 parts in million in sea water. It is more abundant than Lithium. I hope Scientists succeed in developing Sodium ion battery technology. Even if you could extract Lithium from sea water there are other precious and rare metals you need like Cobalt and Nickel which is not abundant.

 

[indus]

I fully understand the diff. My point is that Once banks have written off the loan ( which happens after all recovery methods are tried) , they will have no motivation to recover them. It goes into the cycle of DRT/ milords while banks absolutely own no responsibility for lending that loan. Ultimately, they get more money from RBI to pay more loans for so called "growth".

There are some accounting tricks to go around such situations. The banks still have to show the written off amount in their Balance sheets and it's shown as payable in the next year. That is money which was supposed to come in this financial year but could not, but may come in the next year. This carry forward activity goes on till perpetuity. So they don't forget the money in totality and the legal recourse keeps going on till the time the final decision is made by court.
Now because the money in question has been made to be recovered in future the present balance sheet becomes clean and healthy and thus Bank is able to restart the fresh cycle of credit growth. As far as responsibility goes the bank portrays itself as victim of economic fraud so it cannot take action on itself technically. However prima facie if it appears that fraud was only possible with inside help, internal inquiry is setup. But as in most cases the big fish are not caught until the investigation is carried out by a big agency like CBI, ED etc.

 

[ezsasa]

Goyal once hinted that he is more interested in goods and tradeables; more than IT and services which is definitely a welcome change! Even in case of the FTA with Australia the focus was mostly on merchandise exports.

this part ...
i remembered this because i had assumed modi govt is not interested in Indian talent outside, apparently not.

https://www.dfat.gov.au/geo/india/joint-statement-comprehensive-strategic-partnership-between-republic-india-and-australia

 

[Kumata]

this part ...
i remembered this because i had assumed modi govt is not interested in Indian talent outside, apparently not.

View attachment 167418View attachment 167419

https://www.dfat.gov.au/geo/india/joint-statement-comprehensive-strategic-partnership-between-republic-india-and-australia

if said in pure black & the white.. we are looking to offload our population to aus.. who will go... better talent.. educated folks..instead we shud send chsulims.. but aus won, t accept inbreds...

 

[Crazywithmath]

this part ...
i remembered this because i had assumed modi govt is not interested in Indian talent outside, apparently not.

View attachment 167418View attachment 167419

https://www.dfat.gov.au/geo/india/joint-statement-comprehensive-strategic-partnership-between-republic-india-and-australia

This I know; but reding between the lines it seems that unlike the previous admins this gov is willing to make concessions in services and this is a welcome development. While farm products remain a major deal breaker, one less obstacle would ensure signing of more and more FTAs; this is also why FTAs that were stuck for decades are getting signed and talks are resuming.

 

[sauntheninja]

Even they won’t be able to, $20 bn CAD in a single month, retards in office can’t blame it on oil because we’re importing cheap af oil from Russia and Iraq, most of the trade deficit is because of China, this year they’ll have more than a $100 bn surplus in trade with India, they don’t give market access to our products but we don’t restrict their exports, our meme of a “manufacturing” industry is addicted to their dumping fixing chinese components.
View attachment 167412

Stopping the imports from China will be a short term pain point for a population that is addicted to cheap products wonder if our government is strong enough to take this step

 

[jai jaganath]

Stopping the imports from China will be a short term pain point for a population that is addicted to cheap products wonder if our government is strong enough to take this step

Won't that increase inflation further
But I am not able to understand why merchandise imports have increased such a large extent if we compare to previous years
Obviously this time our exports have risen up but why imports have risen up in this month or if we speak in broad then quarter
Correct me if I am wrong

 

[sauntheninja]

Won't that increase inflation further
But I am not able to understand why merchandise imports have increased such a large extent if we compare to previous years
Obviously this time our exports have risen up but why imports have risen up in this month or if we speak in broad then quarter
Correct me if I am wrong

There has to be a element of our fast recovery from covid and the slow down we had before all the parameters are positive and this has perhaps created unprecedented demand for goods that our manufacturing sector is unable to provide?

 

[no smoking]

Stopping the imports from China will be a short term pain point for a population that is addicted to cheap products wonder if our government is strong enough to take this step

The way you are talking is as if it is the fault of a part of population, specifically the poor population.

These people is addicted to cheap products not because they love cheap goods, but that is the things they can afford. Cutting cheap imports is easy for a country, but for poors, it is harsh, you are pulling down their living standard. What are you going to do with that? Can you cut the income of rich and middle class (literately most of Indians on the forum) to pay off the poor population's loss? How many Indians are willing to cut their own wages or profit to increase the bottom workers' pay cheque?

 

[Kumata]

The way you are talking is as if it is the fault of a part of population, specifically the poor population.


Can you cut the income of rich and middle class (literately most of Indians on the forum) to pay off the poor population's loss? How many Indians are willing to cut their own wages or profit to increase the bottom workers' pay cheque?

As a one time measure, the I don't mind taking this cut for the betterment of poor.

but

that's not the problem. problem is never ending supply of poor population & their non willingness to uplift themselves. this so called middle class including me have uplifted the selves off this poor list with their hardwork and dedication.

famous examples.. these poor squat on prime properties right in the heart of Delhi but u will find aitconditioners, and LED TV, and fridges... everything needed for the comfort in their shanties... just outside of shanties is poor. No one can touch them as they r vote banks. many own flats which r rented out... all free.

govt does nothing as they r vote banks...I am basically paying for their life style... enough...

U remove one slum by giving them houses, and they setup a new one nearby.. its never ending cycle...

 

[ym888]

they don’t give market access to our products but we don’t restrict their exports

Which Indian products are not allowed to enter the Chinese market?

 

[FalconSlayers]

Which Indian products are not allowed to enter the Chinese market?

None, Indian manufactururs or for that matter any non-chinese cos are required to open a plant in China itself to sell their products. Also china does not give market access to services industry of India as well.

 

[thebakofbakchod]

https://energetica-india.net/news/j...fficiency-pv-module-production-line-to-waaree

Warree will soon have a domestic module manufactuirng capacity of 10GW, making them one of the biggest module makers in the world outside China and by far the largest in India. They like every other PV maker are completely reliant on imported machinery. I wonder whats the scope of assembling/making such machinery domestic. AFAIK there are 0 such companies in the country

Warree's new plant in Gujarat

 

[angryIndian]

Well done Well done Well done

How is this an achievement? With the same demographics as China, we are filing 10 times lesser number of papers.

This rather reflects poorly on the country as even to this date, the government does not spend sufficiently on Research and Development nor is the lab infrastructure is anywhere closer to acceptable levels.In my college and internship days, i had to buy my own GPU system for Designing and analysis purposes because the institution did not provide them.
And then there is the old issue of Thesis plagiarism which is still happening to this day.

This is the reason why it's usually not preferred to pursue a masters and PhD in India.

 

[tribendra bisoi..]

OLA in talks with telengana , karnataka , UP for it electric car plant . Not finalized . To hire 3000 people .

 

[NutCracker]

The way you are talking is as if it is the fault of a part of population, specifically the poor population.

These people is addicted to cheap products not because they love cheap goods, but that is the things they can afford. Cutting cheap imports is easy for a country, but for poors, it is harsh, you are pulling down their living standard. What are you going to do with that? Can you cut the income of rich and middle class (literately most of Indians on the forum) to pay off the poor population's loss? How many Indians are willing to cut their own wages or profit to increase the bottom workers' pay cheque?

Foolish thought process.

These same poor people will get better jobs in 5-10 years if Import is cut and domestic industries are set up.
India should look for long term goals.
Thats why India should be banning ChingChing phones in sequencial manner.. first <12K , then <20K

 

[karn]

Even they won’t be able to, $20 bn CAD in a single month, retards in office can’t blame it on oil because we’re importing cheap af oil from Russia and Iraq, most of the trade deficit is because of China, this year they’ll have more than a $100 bn surplus in trade with India, they don’t give market access to our products but we don’t restrict their exports, our meme of a “manufacturing” industry is addicted to their dumping fixing chinese components.
View attachment 167412

Umm .. Normal cost of oil was 60 dollars a barrel before the European war. The "cheap" oil from Russia and Iraq is still above 90 dollars . Oil is totally the centerpiece of our deficit.

 

[another_armchair]

Even they won’t be able to, $20 bn CAD in a single month, retards in office can’t blame it on oil because we’re importing cheap af oil from Russia and Iraq, most of the trade deficit is because of China, this year they’ll have more than a $100 bn surplus in trade with India, they don’t give market access to our products but we don’t restrict their exports, our meme of a “manufacturing” industry is addicted to their dumping fixing chinese components.
View attachment 167412

Trade deficit was $25.63 Billion in June 2022.

YoY everything looks good because of the low base.

Our Q1 QnQ corporate earnings aren't great at all if you compare it to even Q2 or Q3 of FY 21-22.

India’s merchandise export rises 16.8% to USD 37.9 billion in June, 2022 as compared to USD 32.49 billion in June 2021, recording highest ever exports in June 2022. - Mcommerce

India’s merchandise export during first Quarter of 2022-23 jumps 22.2% to USD 116.7 billion over USD 95.5 billion in first Quarter of 2021-22, recording highest ever export during first Quarter. Non-Petroleum export rises 11.9% to USD 92.5 billion over the same period of last year...

commerce.gov.in