Indian Economy: News and Discussion

[Tejbrahmastra]

 

[Tejbrahmastra]

 

[Tejbrahmastra]

View attachment 217305

Yesterday went to a Apollo medical shop, saw a receipt of daily sale of 1lakh. Guess how much income tax they would be paying !!

 

[Vinash]

It looks like the Danda works after all .

Danda always works, always!

Be it with mulla rioters or global MNC's, always use the STICK.

 

[FalconSlayers]

 

[no smoking]

It has been already conveyed in the CHinese economy thread to your CCP bot with kim jong DP, that Indian IP disputes are related to life saving drugs being supplied over the world, unlike Chinese thefts of "muh high speed internet, lesgoo super powder china" and fake brandings.

Yes, a business making great profit for India at the cost of Westerners while Chinese "IP disputes" products are lifting the whole world poor's living standard at the cost of Westerners.

Oh, yes, Indian steals $50 while Chinese steals $100.
What is difference in the principle nature?

 

[no smoking]

Our case is different because we are offering the Indian market + exports potential to manufacturers.
Chinky started out as pure exports only at first, that's why this model of theirs worked.

Where did you learn that?
From 1983 to 1993, the foreign investment came to China targeting Chinese domestic market.
During this period, the whole Chinese manufacturing industries were at the edge of collapse. The whole Chinese market was flooded with Japanese brand cars/electronics/machines, HK/Taiwan/Asean brand cloths/shoes. Most of them were all produced by JV in China.
Have a look of the history chart below, you can see that Chinese export only peak up greatly after 1993.

 

[Crazywithmath]

while Chinese "IP disputes" products are lifting the whole world poor's living standard at the cost of Westerners.

Yep!

Poor ccpfags just wanted to lift the living standards of some poor people living in Sub-Saharan Africa by stealing the IP of anti-contamination coating developed by Coca Cola but the evil capitalists of West just did not let them. I really really appreciate the ccp honchos for thinking it this far; the poor need more of cheap Coca Cola to remove the shackles of slavery and destitution imposed by the evil capitalist imperial warlords of the west.

https://archive.is/20230529134008/https://www.bloomberg.com/news/features/2023-05-11/the-plot-to-steal-the-secret-coke-can-liner-formula

 

[shade]

On a related note, media folks are busy propagating muh free market BS again.

India mustn’t miss this chance to supercharge its electronic goods industry

Blaming the Information Technology Agreement-1 (ITA-1) for China edging out Indian manufacturers and snubbing the new ITA-2 agreement won’t fix our failings in R&D investment or industrial innovation. Higher tariffs won’t help either as competitive exports require cheap imports. India should...

www.moneycontrol.com

Read the piece. Apparently, ITA 2.0 is in the works and includes smartphones, tablets, washing machines, MRI scanners and even freaking smartwatches and GoI is vehemently pushing against it. Makes sense why they are so eager to start applying dandas.

@shade

The only respite is that Trump actively messed up the WTO (especially the appellate body) and rendered it toothless. Also, not sure whether the EU nations are ready to throw their market open for the next set of cheap cheeni imports. They will keep poking India over muh tariffs though; their export of smartphone to India wasn't worth shit pre hiking of tariff and yet they went crying to the WTO.

From two years i have been seeing RR from GoI specifically over ITA-1, this is along with RR over FTAs signed with SEAsian countries by previous extremely democratic, secular, Harvard, Oxford, lund, lehsun govt.

In anycase like you said danda is the only option, we don't have that (((efficiency))) like your communist one party states have, our large consoomer market is the only edge we have over the like ~10 SEAsian countries also in the race to grab those China + 1 factories, PLI alone won't get us those factories.

Also it's comedy max how most of the crying at WTO against us is done by EU, Japan, Korea & Taiwan and not the obvious elephant dragon in the room

 

[Crazywithmath]

Oh, yes, Indian steals $50 while Chinese steals $100.
What is difference in the principle nature?

If India 'steals' $50 then china has to steal $ 5 billion ain't it? How else are ccpbros going to uplift the standards of living across the global south?

We are well aware that India just cannot do that; Cipla is selling the licensed cancer drug of Bayer in India only; that too only in limited numbers. They did not even steal the IP; only licensed it - truly pathetic. No way they are making the 'global south' more prosperous.

On the other hand, look at the state backed hackers and spies belonging to the great ccpland. Those guys sacrificed their lives to infiltrate Nortel to facilitate cheaper exports of 4G and 5G gears - this is how one increases the standard of living of the poor and the proletariat across continents. But as expected, the capitalists of the west and India are banning Huawei left, right and centre. The world is a very cruel place bro.



On a more serious note, the wumaos are sounding increasimgly hilarious these days.

"We steal for the poor and shiet."

To quote Gaurav Arya, "Isko kehte hain swag. Chori karou tou haq se karo. Company wale ko sochne pe majboor kar do…ki china ko churane na de ke woh gunah e azeem kar raha hai. "

 

[shade]

In other news, TN attracting new EV investments, most likely because of it's existing auto-parts supply chain headline says "South India" however

Driving South: Auto giants flock to southern India | Autocar Professional

Southern India accounts for around 33 percent of India's EV manufacturing and around 23 percent of sales, according to a CBRE research conducted in June 2023. Click here to know more

www.autocarpro.in

Garment manufacturing units in Tirupur, TN are shutting down, The local garment manufacturing association is very upset about this, also apparently we have an FTA with Kangludesh wtf?

Garment units in Tiruppur close down due to lack of orders

Garment industry in Tiruppur is unable to compete with Bangladesh as production costs are high in Tiruppur. Nealry 40 % of the hosiery units in Tiruppur have closed down because of increasing imports.

www.thehindu.com

 

[FalconSlayers]

In other news, TN attracting new EV investments, most likely because of it's existing auto-parts supply chain headline says "South India" however

Driving South: Auto giants flock to southern India | Autocar Professional

Southern India accounts for around 33 percent of India's EV manufacturing and around 23 percent of sales, according to a CBRE research conducted in June 2023. Click here to know more

www.autocarpro.in

Garment manufacturing units in Tirupur, TN are shutting down, The local garment manufacturing association is very upset about this, also apparently we have an FTA with Kangludesh wtf?

Garment units in Tiruppur close down due to lack of orders

Garment industry in Tiruppur is unable to compete with Bangladesh as production costs are high in Tiruppur. Nealry 40 % of the hosiery units in Tiruppur have closed down because of increasing imports.

www.thehindu.com

The lack of efforts to boost textile production says everything about the misplaced priorities of the government, meanwhile lungidesh and vietnam will continue to get all textile factories.

 

[shade]

The lack of efforts to boost textile production says everything about the misplaced priorities of the government, meanwhile lungidesh and vietnam will continue to get all textile factories.

For that they will have to reform Labour Laws, which are radioactive, if they do that a sea of alleged "workers" waving red flags with hammer and sickle on them will DILLI CHALO and camp there till Gormint doesn't "repeal" those "black laws".

And no, garments need a lot of labor so the trick of "contract workers" hired through 3rd party companies that ESDM companies use won't work.

Places like Kangludesh & Ethiopia getting clothing and footwear factories is more the result of being able to run sweatshops and profit max + their status as LDC rather than any Govt incentives.

Also those countries don't have "free" media so their govts are spared PR destroying gems like this

Fingers ‘turned to powder’: the maimed workers of India’s auto hub

Poor training, shoddy equipment leave thousands of workers injured in India’s auto hub.

www.aljazeera.com

These are not to highlight poor conditions of workers but to push for stricter labour laws.
It's like how the rise in muh pollution, muh environment activism has resulted in the flight of factories to China from the 1st world countries in the last two decades.

 

[Crazywithmath]

In other news, TN attracting new EV investments, most likely because of it's existing auto-parts supply chain headline says "South India" however

Driving South: Auto giants flock to southern India | Autocar Professional

Southern India accounts for around 33 percent of India's EV manufacturing and around 23 percent of sales, according to a CBRE research conducted in June 2023. Click here to know more

www.autocarpro.in

Garment manufacturing units in Tirupur, TN are shutting down, The local garment manufacturing association is very upset about this, also apparently we have an FTA with Kangludesh wtf?

Garment units in Tiruppur close down due to lack of orders

Garment industry in Tiruppur is unable to compete with Bangladesh as production costs are high in Tiruppur. Nealry 40 % of the hosiery units in Tiruppur have closed down because of increasing imports.

www.thehindu.com

Article contains no details and directly contradicts the reports of CRISIL and CareEdge Ratings.

Strong domestic & export demand to drive India's RMG growth: CRISIL

Read about Strong domestic & export demand to drive India's RMG growth: CRISIL and more news related to apparel industry at Fibre2Fashion

www.fibre2fashion.com

India’s readymade garment exports likely to cross $30 billion by 2027

India’s share in global RMG exports has remained sluggish from 2017 to 2021, with RMG exports at around $15 billion in CY21. Countries such as Bangladesh and Vietnam have captured a large part of China’s declining share in global RMG exports.

www.livemint.com

CareEdge expects double digit CAGR till 2027 in RMG exports partially due to govt incentives and partially due to supply chain bottlenecks in cheeniland and Vietnam.

Looks like more of a region specific issue;

Hike in power tariff to hurt textile industry in India's Tamil Nadu

The textile industry in the southern Indian state of Tamil Nadu, which is already facing challenges due to costlier raw material and muted export demand, will now have to...

www.fibre2fashion.com

12ft

Manufacturers are seeking additional gibs-me-thats from the incumbent state government and relaxation in labour codes on the lines of MH, KA and Telangana.

 

[shade]

Article contains no details and directly contradicts the reports of CRISIL and CareEdge Ratings.

Strong domestic & export demand to drive India's RMG growth: CRISIL

Read about Strong domestic & export demand to drive India's RMG growth: CRISIL and more news related to apparel industry at Fibre2Fashion

www.fibre2fashion.com

India’s readymade garment exports likely to cross $30 billion by 2027

India’s share in global RMG exports has remained sluggish from 2017 to 2021, with RMG exports at around $15 billion in CY21. Countries such as Bangladesh and Vietnam have captured a large part of China’s declining share in global RMG exports.

www.livemint.com

CareEdge expects double digit CAGR till 2027 in RMG exports partially due to govt incentives and partially due to supply chain bottlenecks in cheeniland and Vietnam.

Looks like more of a region specific issue;

Hike in power tariff to hurt textile industry in India's Tamil Nadu

The textile industry in the southern Indian state of Tamil Nadu, which is already facing challenges due to costlier raw material and muted export demand, will now have to...

www.fibre2fashion.com

12ft

Manufacturers are seeking additional gibs-me-thats from the incumbent state government and relaxation in labour codes on the lines of MH, KA and Telangana.

Also the complaining is directed towards the Centre.
Last time there were some groups of farmers from TN doing DILLI CHALLO, it should have been CHENNAI CHALO but idk..

It's almost as if the Tamils forget they have a functional state govt.

 

[Love Charger]

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Where do those leaders work today

 

[thebakofbakchod]

Article contains no details and directly contradicts the reports of CRISIL and CareEdge Ratings.

Strong domestic & export demand to drive India's RMG growth: CRISIL

Read about Strong domestic & export demand to drive India's RMG growth: CRISIL and more news related to apparel industry at Fibre2Fashion

www.fibre2fashion.com

India’s readymade garment exports likely to cross $30 billion by 2027

India’s share in global RMG exports has remained sluggish from 2017 to 2021, with RMG exports at around $15 billion in CY21. Countries such as Bangladesh and Vietnam have captured a large part of China’s declining share in global RMG exports.

www.livemint.com

CareEdge expects double digit CAGR till 2027 in RMG exports partially due to govt incentives and partially due to supply chain bottlenecks in cheeniland and Vietnam.

Looks like more of a region specific issue;

Hike in power tariff to hurt textile industry in India's Tamil Nadu

The textile industry in the southern Indian state of Tamil Nadu, which is already facing challenges due to costlier raw material and muted export demand, will now have to...

www.fibre2fashion.com

12ft

Manufacturers are seeking additional gibs-me-thats from the incumbent state government and relaxation in labour codes on the lines of MH, KA and Telangana.

Your reports are in future tense. We all know how 90% of future tense reports on any part of the Indian economy turned out in the last 20 years. Meanwhile the garment industry being in doldrums is in present tense. Gujarat's industry is also in doldrums, with most factories running at half capacity and firing workers to cut down costs. The main complain is high input costs. Of course this low IQ government's tax terrorism is largely to blame for the input cost. There are high import cess, GST etc on virtually every layer of production in the textile industry.

Layoffs loom over textile, chemical sectors in Gujarat | Ahmedabad News - Times of India

Ripples from the recession in Europe and the US continue to rock Gujarat’s textile and chemical sectors. The clouds of job losses are looming over the

timesofindia.indiatimes.com

Ludhiana’s Spinning Industry in dire straits due to Tax Anomalies in Textile

Ludhiana’s spinning industry which plays a key role in the financial and economic growth of the city and the entire region as well, is facing major crisis primarily due to duty and tax anomalies.

knnindia.co.in

 

[shade]

Your reports are in future tense. We all know how 90% of future tense reports on any part of the Indian economy turned out in the last 20 years. Meanwhile the garment industry being in doldrums is in present tense. Gujarat's industry is also in doldrums, with most factories running at half capacity and firing workers to cut down costs. The main complain is high input costs. Of course this low IQ government's tax terrorism is largely to blame for the input cost. There are high import cess, GST etc on virtually every layer of production in the textile industry.

Layoffs loom over textile, chemical sectors in Gujarat | Ahmedabad News - Times of India

Ripples from the recession in Europe and the US continue to rock Gujarat’s textile and chemical sectors. The clouds of job losses are looming over the

timesofindia.indiatimes.com

Ludhiana’s Spinning Industry in dire straits due to Tax Anomalies in Textile

Ludhiana’s spinning industry which plays a key role in the financial and economic growth of the city and the entire region as well, is facing major crisis primarily due to duty and tax anomalies.

knnindia.co.in

Domestic cotton production has also fallen off a cliff if we're talking about just the textile/garment industry.
It's not just tax or expensive electricity( as in the case of Tirupur ) it's a lot of factors combined.

Anyway they don't bother for the textile and garment industry for domestic market, letting it run on autopilot inspite of these sectors being large employers

 

[Tejbrahmastra]

Tesla gets new Indian-origin CFO Vaibhav Taneja. All about him | 5 points

Taneja (45) replaced Kirkhorn in addition to his current role as Chief Accounting Officer (CAO) of the company.

www.hindustantimes.com

Signs of things to come

 

[Haldilal]

Ya'll Nibbiars The Godrej Consumer board approves capex of 900 crores for setting up new manufacturing site at Tamil Nadu and Madhya Pradesh. The one in Tamil Nadu is expected to come near Chennai.