Indian Economy: News and Discussion

[skunk works]

The only reason that they even earn whatever little revenue they earn is due to various gov contracts they are getting. From PAN to Aadhar and every gov document is delivered by them.
Need to transform into its own fed ex but I don't expect from a babu run thing.

Postal banking also. Their interest rates are very good.

 

[jadoogar]

I didn't mean the customer facing role of IP.

I meant who manages the corpus collected from depositors?

IP or FinMin?

Must be FinMin.

IP collects the money and probably deposits it into some PSB account managed by the FinMin.

Things may have changed lately but the India Post (Post Office Savings Bank) was in effect an account at the GOI Treasury. The POSB is essentially a deposit taking instutition -
money in is credited to Treasury
money out (interest, withdrawls) is debited to Treasury.
They offer attractive interest rates on NSC (National Savings Certificate). Also operate through licensed agents who get a small commission on deposits raised. The agents also come to your home and do all the paperwork. It is very convenient for senior citizens.

You also have the security of the GOI treasury. In a private or even public bank if the bank fails that would be devasting for depositors and in particular the senior citizens who often buy those NSCs.

 

[Haldilal]

Ya'll Nibbiars

1 . The AWS leases land at Navi Mumbai for new data center. And sub-leased a 12 acres land oarcel at the TTC industrial area in Airoli for a period of 15 years to develop a data center. The Total Investments 2,000 crore plus.

2 . The Blackstone backed Lumina CloudInfra breaks ground on 60MW data center campus in Navi Mumbai, India. Developer: Panchshil built up area 7 lakh Sq. Ft. Total Investment: 2,500 crore.

3 . The STT GDC to invest 2000 crore rupees in two Data Centers at Pune. Total capacity 40MW.

 

[AK047]

 

[Atavistic]

Ya'll Nibbiars

1 . The AWS leases land at Navi Mumbai for new data center. And sub-leased a 12 acres land oarcel at the TTC industrial area in Airoli for a period of 15 years to develop a data center. The Total Investments 2,000 crore plus.

2 . The Blackstone backed Lumina CloudInfra breaks ground on 60MW data center campus in Navi Mumbai, India. Developer: Panchshil built up area 7 lakh Sq. Ft. Total Investment: 2,500 crore.

View attachment 208313View attachment 208314

3 . The STT GDC to invest 2000 crore rupees in two Data Centers at Pune. Total capacity 40MW.

View attachment 208315

Billa bhai, what's coming up here ?

 

[Abbey]

KredX starts operations at GIFT IFSC: Aims for US$ 200 Million in Export Financing this year

KredX starts operations at GIFT IFSC: Aims for US$ 200 Million in Export Financing this year - Times of India

India Business News: KredX, one of the largest supply chain finance platforms, has received the final approval from International Financial Services Centres Authority (IFS

timesofindia.indiatimes.com

Gift City sops tempt banks to shift foreign ops back home

The global financial centre offers cost-effective services amid banks closing foreign branches

www.livemint.com

 

[Abbey]

Modi cabinet approves world's largest grain storage plan with an investment of Rs 1 lakh crore

The Union Cabinet on Wednesday approved a Rs 1 lakh crore programme to create the world's largest grain storage capacity in the cooperative sector to reduce crop damages and prevent distress sales by farmers, besides strengthening the country's food security. The government is planning to create...

economictimes.indiatimes.com

The Union Cabinet on Wednesday approved a Rs 1 lakh crore programme to create the world's largest grain storage capacity in the cooperative sector to reduce crop damages and prevent distress sales by farmers, besides strengthening the country's food security. The government is planning to create 700 lakh tonne of grain storage capacity in the cooperative sector over the next five years and said the move will also help in creating job opportunities in rural India. Briefing media, Information and Broadcasting Minister Anurag Singh Thakur said the Cabinet has approved the "world's largest grain storage plan in the cooperative sector". On investment, he said the programme will start "with an expenditure of around Rs 1 lakh crore".

 

[Abbey]

Centre Opens Second Application Window For Rs 76,000 Crore Semiconductor Manufacturing Plan

The Centre has reopened the window for applying to its Rs 76,000 crore semiconductor manufacturing plan

swarajyamag.com

The Centre has reopened the window for applying to its Rs 76,000 crore semiconductor manufacturing plan.

The previous window last year received three applications. However, these applications faced difficulties in setting up their respective plants.

The government offered the first window for scheme applications in January 2022, and closed it in 45 days. A second window will open today (1 June) and remain available until December 2024.

Rajeev Chandrasekhar, Minister of State for Electronics and IT, announced that the window for re-applying to the scheme has been extended. The extension aims to encourage more proposals from interested parties.

The government had made amendments to the scheme in September, including uniform fiscal support of 50 per cent of the project cost for semiconductor fabs and display manufacturing across different technology nodes, Chandrasekhar told The Indian Express in an interview.

This move was intended to attract more participation in the program.

The government had received three proposals to set up a fab in the country:

• Vedanta-Foxconn joint venture
• International consortium ISMC
• Singapore-based IGSS Ventures

Currently, the only proposal present with the Centre is from Vedanta-Foxconn, but they are unable to find a partner to licence them the technology for manufacturing 28-nanometre chips.

Vedanta-Foxconn sought to establish a 28-nanometer semiconductor plant in January 2022. However, there is no confirmation yet if they have secured the technology to execute it. They plan to license the required technology from other companies as they are not equipped for the task.

According to the report, Vedanta will need to submit a new application to manufacture chips with a 40 nanometre node size, said a senior government official.

The joint venture has informed the government that it's seeking to license technology from either STMicroelectronics or GlobalFoundries.

Vedanta is also grappling with the challenge of resolving its debt issues amid the situation.

The 40-nanometre plant of the joint venture is anticipated to cost $3.5-4 billion if they can obtain the appropriate tech partners.

The plant's cost is estimated to be around $1.2 billion for the joint venture, after accounting for subsidies from the Gujarat government and assistance from the Centre.

According to the report, Vedanta's discussions with STMicroelectronics have reached a deadlock. The impasse revolves around STMicroelectronics' level of involvement in the joint venture.

The main point of contention is whether STMicroelectronics will solely license its technology or acquire a stake in the consortium.

ISMC has requested the Centre not to consider its proposal due to the ongoing delay with the merger between Intel and Israel's Tower Semiconductor, as per the officials.

The proposal put forward by Singapore-based IGSS Venture did not meet the expectations of the government's advisory committee. As a result, their proposal has been put on hold, said the report

 

[Abbey]

Omron to set up medical devices manufacturing plant in Tamil Nadu at ₹128 crore

The Tamil Nadu Chief Minister has been touring Singapore and Japan over the last week to attract investments to the State and to invite business communities to the Global Investor Meet to be held in January 2024

www.thehindubusinessline.com

Omron Healthcare, a Japan-based manufacturer and distributor of personal healthcare products, will set up a medical devices manufacturing plant in Tamil Nadu at a cost of ₹128 crore.

A memorandum of understanding (MoU) was signed in the presence of Tamil Nadu Chief Minister MK Stalin in Osaka, Japan on Tuesday, according to a press release from the State government.

The OMRON Group has diversified business presence including industrial automation, healthcare devices, and electronic components manufacturing, with exports to over 120 countries.


Under healthcare business, the company is into the manufacture of home blood pressure monitoring kits, portable main management devices, fitness devices including wearables and respiratory devices such as table-top nebulizer systems to name a few.

 

[jai jaganath]

Centre Opens Second Application Window For Rs 76,000 Crore Semiconductor Manufacturing Plan

The Centre has reopened the window for applying to its Rs 76,000 crore semiconductor manufacturing plan

swarajyamag.com

The Centre has reopened the window for applying to its Rs 76,000 crore semiconductor manufacturing plan.

The previous window last year received three applications. However, these applications faced difficulties in setting up their respective plants.

The government offered the first window for scheme applications in January 2022, and closed it in 45 days. A second window will open today (1 June) and remain available until December 2024.

Rajeev Chandrasekhar, Minister of State for Electronics and IT, announced that the window for re-applying to the scheme has been extended. The extension aims to encourage more proposals from interested parties.

The government had made amendments to the scheme in September, including uniform fiscal support of 50 per cent of the project cost for semiconductor fabs and display manufacturing across different technology nodes, Chandrasekhar told The Indian Express in an interview.

This move was intended to attract more participation in the program.

The government had received three proposals to set up a fab in the country:

• Vedanta-Foxconn joint venture
• International consortium ISMC
• Singapore-based IGSS Ventures

Currently, the only proposal present with the Centre is from Vedanta-Foxconn, but they are unable to find a partner to licence them the technology for manufacturing 28-nanometre chips.

Vedanta-Foxconn sought to establish a 28-nanometer semiconductor plant in January 2022. However, there is no confirmation yet if they have secured the technology to execute it. They plan to license the required technology from other companies as they are not equipped for the task.

According to the report, Vedanta will need to submit a new application to manufacture chips with a 40 nanometre node size, said a senior government official.

The joint venture has informed the government that it's seeking to license technology from either STMicroelectronics or GlobalFoundries.

Vedanta is also grappling with the challenge of resolving its debt issues amid the situation.

The 40-nanometre plant of the joint venture is anticipated to cost $3.5-4 billion if they can obtain the appropriate tech partners.

The plant's cost is estimated to be around $1.2 billion for the joint venture, after accounting for subsidies from the Gujarat government and assistance from the Centre.

According to the report, Vedanta's discussions with STMicroelectronics have reached a deadlock. The impasse revolves around STMicroelectronics' level of involvement in the joint venture.

The main point of contention is whether STMicroelectronics will solely license its technology or acquire a stake in the consortium.

ISMC has requested the Centre not to consider its proposal due to the ongoing delay with the merger between Intel and Israel's Tower Semiconductor, as per the officials.

The proposal put forward by Singapore-based IGSS Venture did not meet the expectations of the government's advisory committee. As a result, their proposal has been put on hold, said the report

So even 40nm and 65nm plants doesn't seem to have faith
But wait govt has closed 1st application right
If yes then how come they are asking vedanta to resubmit their application and the second application is for 28 nm if I am not wrong
Pls enlighten me

 

[Tejbrahmastra]

How was China able to add $4 trillions in 4 years?? Doesn't make any sense!!

 

[AK047]

View attachment 208354
How was China able to add $4 trillions in 4 years?? Doesn't make any sense!!

China grew like 12 percent for few years during late 2000s and early 2010s. This means about 20 plus percent nominal growth. Now do the math.

 

[nongaddarliberal]

View attachment 208354
How was China able to add $4 trillions in 4 years?? Doesn't make any sense!!

4 trillion in 4 years was very much possible for China in its high growth years. It's exports growth back then, combined with its insane infrastructure buildup allowed it to add 1 trillion a year to GDP. India in its current stage is already adding 500 billion a year to GDP. Compare our infrastructure and export growth to China's peak growth in these two areas, the difference will be obvious. And cities are the main engines of economic growth. The Chinese improved their top 10 cities to global standards during those years.

 

[jai jaganath]

View attachment 208354
How was China able to add $4 trillions in 4 years?? Doesn't make any sense!!

I don't know it makes sense or not but if it happens then one of major civilizational achievement it would bcoz it would mark our dynamic growth and a powerful state post 1100 years of invasion and slavery

 

[AnantS]

Bidenwa has started blackmailing again

 

[Tejbrahmastra]

China grew like 12 percent for few years during late 2000s and early 2010s. This means about 20 plus percent nominal growth. Now do the math.

Yes I am aware of the of double digit real growth post 2008, when they went bonkers on infrastructure spending. But even at 12% nominal growth it would take 6 yrs for gdp to double its size. Doubling in 4 yrs would require an 18% gdp growth. Nominal its possible, but not in real terms.

 

[ezsasa]

Bidenwa has started blackmailing again
View attachment 208356

activist shareholders, evolution after ESG.
=====
What’s driving the surge in shareholder activism activity?

 

[SavageKing456]

Is is possible that india grows atleast 6.8% for 5-6 more years?

 

[SammyBoi111]

 

[ezsasa]

Is is possible that india grows atleast 6.8% for 5-6 more years?

Nope, as in not a guaranteed outcome if the caveat is inflation under control scenario.
GDP growth numbers can be made to look big, with high inflation numbers as well, which is what used to happen before 2014.