Indian Economy: News and Discussion

[Comett]

• 160.52% growth in Net Direct Tax Collections from Rs. 6,38,596 crore in F.Y. 2013-14 to Rs. 16,63,686 crore in F.Y. 2022-23.
• 173.31% increase in Gross Direct Tax Collections from Rs. 7,21,604 crore in FY 2013-14 to Rs. 19,72,248 crore in F.Y. 2022-23.
• Direct Tax to GDP ratio increased from 5.62% in F.Y. 2013-14 to 6.11% in F.Y. 2022-23.
• Cost of collection reduced from 0.57% of total collection in the F.Y. 2013-14 to 0.51% in F.Y. 2022-23.
• 104.91% increase in total number of ITRs filed in FY 2022-23 which stands at 7.78 crore as compared to 3.80 crore ITRs filed in FY 2013-14.

https://x.com/IncomeTaxIndia/status/1749789805238767853?s=20

https://pib.gov.in/PressReleseDetail.aspx?PRID=1998906

 

[jai jaganath]

Can this take market of DJI

Breaking Boundaries: IZI Launches Mini X Series, India's First 4k Nano Drone

IZI introduces IZI MINI X drone, India’s first 4K nano drone weighing 249 grams, featuring two versions: Standalone and Fly More Combo.

timestech.in

 

[another_armchair]

Can this take market of DJI

Breaking Boundaries: IZI Launches Mini X Series, India's First 4k Nano Drone

IZI introduces IZI MINI X drone, India’s first 4K nano drone weighing 249 grams, featuring two versions: Standalone and Fly More Combo.

timestech.in

IZI revolutionizes affordable innovation in Indian consumer electronics

Mr. Ishan Haydn, Founder of IZI, sheds light on the company's transformative journey in the consumer electronics industry.

timestech.in

Actively exploring the B2G segment, IZI collaborates on applications for surveillance, mapping, and inspection, demonstrating a commitment to diversifying its market presence. With over 50% of drone components locally sourced, IZI contributes to the growth of the Indian drone ecosystem, emphasizing its ‘Made in India’ identity.

Looks like a glorified 'assembling' & sourcing company.

 

[another_armchair]

Can this take market of DJI

Breaking Boundaries: IZI Launches Mini X Series, India's First 4k Nano Drone

IZI introduces IZI MINI X drone, India’s first 4K nano drone weighing 249 grams, featuring two versions: Standalone and Fly More Combo.

timestech.in

Looks like the same company and the product portfolio is a dead giveaway.

Why aren't Amazon links appearing?

 

[jai jaganath]

IZI revolutionizes affordable innovation in Indian consumer electronics

Mr. Ishan Haydn, Founder of IZI, sheds light on the company's transformative journey in the consumer electronics industry.

timestech.in

Looks like a glorified 'assembling' & sourcing company.

Yes
It seems so

 

[Jagattunga Govinda III]

The truth about India’s booming toy exports

‘Make in India’ policies made it possible the toy industry turning net exporter, claims officially sponsored research, but published industry and trade data do not bear out such a proposition

www.thehindu.com

 

[Crazywithmath]

The truth about India’s booming toy exports

‘Make in India’ policies made it possible the toy industry turning net exporter, claims officially sponsored research, but published industry and trade data do not bear out such a proposition

www.thehindu.com

View attachment 238073

Chindu is crying because India's 'protectionist' policies target china almost exclusively these days. They can cry me a river.

Honestly, I don't get Indian commies. On odd days, they simp for china (notoriously protectionist) and bat for socialist policies. On even days, they demand free trade and no protection for domestic industries.

Aap party ho ya broker?

 

[Cheepek]

The truth about India’s booming toy exports

‘Make in India’ policies made it possible the toy industry turning net exporter, claims officially sponsored research, but published industry and trade data do not bear out such a proposition

www.thehindu.com

View attachment 238073

Notice how a column for toy exports is conveniently missing in the chart, but *net exports* is used to hide abysmal perfomance of toy exports in the previous years.

 

[shade]

Chindu is crying because India's 'protectionist' policies target china almost exclusively these days. They can cry me a river.

Honestly, I don't get Indian commies. On odd days, they simp for china (notoriously protectionist) and bat for socialist policies. On even days, they demand free trade and no protection for domestic industries.

Fully Dalal, Fully traitor

 

[Jagattunga Govinda III]

Chindu is crying because India's 'protectionist' policies target china almost exclusively these days. They can cry me a river.

Honestly, I don't get Indian commies. On odd days, they simp for china (notoriously protectionist) and bat for socialist policies. On even days, they demand free trade and no protection for domestic industries.

Aap party ho ya broker?

The Hindu is no doubt left-oriented and at times openly pro-China but this editorial was written by professors from IGIDR and JGU. The former is especially credible and many faculty from there are advisors to the GoI both as consultants/members of think tanks. Ignoring the protectionism part altogether, it is worrisome that the productivity per individual labourer is declining over the decade despite inflation being especially harsh over that exact time period due to both internal and external events.

The only explanation that can make this look like a good thing is if exponentially more people were employed in the industry but I'm sceptical about this happening.

This data shows the number of laborers from 2010-2013 in the toy industry.

India ASI: Number of Employees: Daily Average: Manufacturing: Games and Toys | Economic Indicators | CEIC

India ASI: Number of Employees: Daily Average: Manufacturing: Games and Toys data was reported at 2,665.000 Person in Mar 2013. This records an increase from the previous number of 2,171.000 Person for Mar 2012. India ASI: Number of Employees: Daily Average: Manufacturing: Games and Toys data is...

www.ceicdata.com

This one is from 2017.

http://www.npcindia.org.in/wp-content/uploads/2014/07/Research-Report-Toy-Industry-ES-HQ.pdf

I couldn't find data from beyond that time. If anyone has it, I'm willing to correct my opinion.

At the end of 2013 we had roughly 2.6 million people employed in the sector and by 2017 that number is just 3 million. 2018 saw a general slowdown in the economy and 2019 was quite good so the latter may have added some more laborers. 2020, 2021 were full blown recession years due to Chink flu so there was definitely a decline. I just don't think that the toy industry is growing at a level it has the potential to grow.

 

[shade]

TheChindu Business Line has an article from two years back that is very optimistic

Toy Tales: India’s emerging success story

An aircraft component manufacturer is leading India’s toy revolution by providing integrated product solutions

www.thehindubusinessline.com

"Export surge" that is mentioned in below article was because F U C K A L L earlier was being exported, and toys were imported from China to India, both on the chindi maal sold on trains type to the branded Hasbro maal.

Toy exports surge, import dips on Make-in-India push

www.deccanherald.com

 

[Jagattunga Govinda III]

Notice how a column for toy exports is conveniently missing in the chart, but *net exports* is used to hide abysmal perfomance of toy exports in the previous years.

Sure, if that's how you want to look at it. My concern here is that regardless of which government has been in power, we are failing to truly empower the toy industry. Protectionism or whatever else is absolutely fine with me as long as the resultant growth is healthy. It just doesn't look that way to me. Toys have nearly the same potential as the textiles. It can provide employment en masse and it will be a real boon for women just like it was with textiles in Bangladesh. We fucked up massively when the textile revolution was around from 2012-2015 due to the NPA crisis, I just don't want us to miss this one too.

 

[karn]

Sure, if that's how you want to look at it. My concern here is that regardless of which government has been in power, we are failing to truly empower the toy industry. Protectionism or whatever else is absolutely fine with me as long as the resultant growth is healthy. It just doesn't look that way to me. Toys have nearly the same potential as the textiles. It can provide employment en masse and it will be a real boon for women just like it was with textiles in Bangladesh. We fucked up massively when the textile revolution was around from 2012-2015 due to the NPA crisis, I just don't want us to miss this one too.

Hear it from the horse's mouth then

Hasbro India focusing on strengthening vendor base, launching new brands: Country Manager Lalit Parmar - ET Retail

“We are one of the biggest players which imports toys and have a big vendor ecosystem for manufacturing. We recognize the importance of India, both as a market and a manufacturing hub.”

retail.economictimes.indiatimes.com

 

[Jagattunga Govinda III]

Hear it from the horse's mouth then

Hasbro India focusing on strengthening vendor base, launching new brands: Country Manager Lalit Parmar - ET Retail

“We are one of the biggest players which imports toys and have a big vendor ecosystem for manufacturing. We recognize the importance of India, both as a market and a manufacturing hub.”

retail.economictimes.indiatimes.com

View attachment 238085

I went through their third-party factory list from 2018-22. As far as the number of factories are concerned, India had 12 in 2018, 13 in 2019, 10 in 2020 (factories presumably shut down during Covid), 13 in 2021 (the recovery had already begun by the last quarter of 2021) but 11 in 2022. Their 2023 list is yet to be released, I think. For these 5 years from 2018 to 2022, the number of factories supplying for Hasbro has remained more or less stagnant.

It is quite possible that they have upscaled the manufacturing in these 10-13 factories alone but given the decline in the labour productivity, I'm not really convinced. The only thing I have hopes for is that the extent of those employed may have increased massively from 2017 somehow which would've compensated for the decline.

Sources -

https://csr.hasbro.com/en-us/downloads/Hasbro_factories.pdf

https://csr.hasbro.com/en-us/downloads/Hasbro_Factories_2019.pdf

https://csr.hasbro.com/en-us/downloads/Hasbro_Factories_2020.pdf

https://csr.hasbro.com/en-us/downloads/Hasbro_ThirdParty_List_2021.pdf

https://csr.hasbro.com/en-us/downloads/Hasbro_ThirdParty_List_2022.pdf

 

[Jagattunga Govinda III]

"Export surge" that is mentioned in below article was because F U C K A L L earlier was being exported, and toys were imported from China to India, both on the chindi maal sold on trains type to the branded Hasbro maal.

Toy exports surge, import dips on Make-in-India push

www.deccanherald.com

Makes sense.

 

[Cheepek]

Sure, if that's how you want to look at it. My concern here is that regardless of which government has been in power, we are failing to truly empower the toy industry. Protectionism or whatever else is absolutely fine with me as long as the resultant growth is healthy. It just doesn't look that way to me. Toys have nearly the same potential as the textiles. It can provide employment en masse and it will be a real boon for women just like it was with textiles in Bangladesh. We fucked up massively when the textile revolution was around from 2012-2015 due to the NPA crisis, I just don't want us to miss this one too.

Protectionism aims to curb imports and give space to domestic manufacturers, not to improve exports. If we are trying to gauge export performance under a particular HSN, the first thing one needs to do is provide data for that HSN over the years, which is missing in the article.

 

[Jagattunga Govinda III]

Protectionism aims to curb imports and give space to domestic manufacturers, not to improve exports. If we are trying to gauge export performance under a particular HSN, the first thing one needs to do is provide data for that HSN over the years, which is missing in the article.

Hasbro India Toys Private Limited | See Full Import/Export History | ImportGenius

Government records and notifications available for Hasbro India Toys Private Limited in India. See their past export from Hasbro S.A, a supplier based in Vietnam, Democratic Rep. Of. Follow future shipping activity from Hasbro India Toys Private Limited.

www.importgenius.com

We don't even seem to be visible in this pie chart.

On the other hand, I found the link below. We seem to be the third largest exporter of toys with 357,397 shipments, while our competitors Vietnam and China export much more at 866,127 and 5,862,384 shipments, respectively. It seems that, overall (not just Hasbro) we have indeed made progress in the toy industry front but we still have a lot of ground to cover. I just hope we keep this pace up.

Toys Exports from India to United States - Export data with price, buyer, supplier, HSN code

Create profitable strategy to export Toys from India to United States with Top Toys exporting importing countries, Top Toys importers & exporters based on 72,342 export shipment records till Nov - 23 with Ph, Email & Linkedin.

www.volza.com

 

[blackleaf]

Flash PMI for India launched, January services print at 6-month high of 61.2

The flash Purchasing Managers' Index for any given month will be released approximately one week in advance of the final number.

www.moneycontrol.com

"India's services Purchasing Managers' Index (PMI) likely rose to a six-month high of 61.2 in January, with the gauge of manufacturing sector activity at a four-month high of 56.9. The composite PMI, meanwhile, rose to 61.0 in January - the joint-highest in six months - from 58.5 in the last month of 2023."

 

[nongaddarliberal]

India Tops Hong Kong as World’s Fourth-Largest Stock Market

India’s stock market capitalization has overtaken Hong Kong’s for the first time as the South Asian nation’s growth prospects and policy reforms make it an investor darling while global capital pours out of China.

www.bloomberg.com

India overtakes Hong Kong to become world's fourth largest stock market by mcap

Currently, the US is the world's biggest market with a mcap of $50.86 trillion followed by China with a mcap of $8.44 trillion and Japan $6.36 trillion.

www.moneycontrol.com

India pipped Hong Kong to become the world's fourth largest stock market by market capitalisation on January 22. India’s market cap stood at $4.33 trillion on Tuesday as against $4.29 trillion for Hong Kong, according to data from Bloomberg. Currently, the US is the world's biggest market with a mcap of $50.86 trillion, followed by China with a mcap of $8.44 trillion and Japan at $6.36 trillion.

View attachment 237808

Obviously the Hong Kong stock exchange is mainly mainland Chinese investment getting rerouted. We have overtaken a section of the Chinese stock market. Good progress though.

 

[Haldilal]

Ya'll Nibbiars This report is still Incomplete dosen't include Pench, Tadoba, Melghat, Navegaon, Nagzira in Maharashtra.