Indian Economy: News and Discussion

[brat4]

Unemployment crisis: 83% of jobless Indians are youth, says International Labour Organisation Report

Unemployment crisis: 83% of jobless Indians are youth, says ILO report

As per the ILO report, the proportion of educated youth (with at least secondary education), who are unemployed, has nearly doubled to 65.7 percent in 2022 from 35.2 percent in 2000.

www.livemint.com

this is such a well-used but sinister way to present stats.

83% of jobless Indian are youth.

so out of all jobless Indians, 83% are youth. isnt that obvious when 85% of India's population is "youth" ?

this doesnt say anything about how much of Indian youth in general are jobless. but the number sticks to you like "83% of youth are jobless".

deeper in the article - 65% of educated youth are in this group - this still means out of overall jobless folks, 65% are youth with secondary educatio - which still is obvious when the overall education numbers have increased in that period.

while this does not say the job market is better or worse, the numbers themselves dont really show the exact picture that the article is trying to project.

 

[DingDong]

 

[Tejbrahmastra]

Hopefully Adani's plant will reduce our import dependency. We went from being exporter to an importer in a matter of few years because of one plant!

 

[Tejbrahmastra]

 

[Haldilal]

Ya'll Nibbiars

1 .

Indoco Remedies subsidiary commences production of pharmaceutical intermediates

Indoco Remedies expands API production in Aurangabad, Maharashtra, with new facility and land purchase for future growth.

www.thehindubusinessline.com

2 .

Land acquisition soon for industries at Rajur Bahula - www.lokmattimes.com

Land acquisition soon for industries at Rajur Bahula: LOKMAT NEWS NETWORK Nashik, Feb 29 Keeping in mind the need for the expansion of industries, preparations for a ... . Get all latest entertainment & viral stories on www.lokmattimes.com

www.lokmattimes.com

3 .

Google in talks to acquire 22.5-acre in Navi Mumbai for maiden India captive data centre

Google is in advanced negotiations to purchase a 22.5-acre land parcel in Juinagar, Navi Mumbai, for its first captive data center in India. The land, owned by Maharashtra Industrial Development Corporation (MIDC), currently leased to Gramercy Trade Industries, is valued at approximately Rs 850...

economictimes.indiatimes.com

4 .

PubMatic Makes Strategic Investment in Engineering Team Expansion and AI Technology

NewsVoir Pune (Maharashtra) [India], March 27: PubMatic (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today announced a significant expansion of its engineering hiring plans in India to support growth following strong Q4 2023 and...

theprint.in

5 .

PN Gadgil Jewellers files DRHP with Sebi for Rs 1,100-crore IPO

The IPO includes a fresh equity issue of Rs 850 crore and an offer for sale of Rs 250 crore. Promoter SVG Business Trust is supposed to offload part equity.

economictimes.indiatimes.com

6 .

State further subsidises power supply to textile industry till 2028 | Kolhapur News - Times of India

Maharashtra state government has decided to further subsidise the electricity bills for 13 lakh powerloom units across the state till 2028. The total amount of additional subsidy will be around Rs 600 crore. This move is expected to make cloth production cheaper and increase sales in the textile...

timesofindia.indiatimes.com

8 .

DIC opens new coating resins plant in India - Chemical Engineering

DIC Corp. (Tokyo) announced that subsidiary IDEAL CHEMI PLAST PRIVATE LTD., based in the Indian state of Maharashtra, opened and commenced operations at a

www.chemengonline.com

9 .

K Raheja inks pact to jointly develop 2.5-acre land parcel in Mumbai’s Worli

The developers residential platform and the landlord have finalised a revenue share structure for the proposed joint development, wherein K Raheja Corp will get 57% revenue share, while the balance 43% will go to the landlord. As per this agreement, the developer will be responsible for all...

m.economictimes.com

10 .

Tata Elxsi stock gains on collaboration with Germany-based Dräger for critical care innovation

Shares of Tata Elxsi gained 1.4 percent to trade at Rs 7,782 apiece on March 28 after it forged a partnership with Germany-based Dräger to advance critical care innovation in India.So far this year, the stock of Tata Elxsi declined 11 percent, as against 0.7 percent rise in the benchmark Nifty 50…

www.tradingview.com

11 .

Remsons Industries forms JV with Aircom Group

Remsons Industries Ltd., a pioneer in cables & shifters for the automotive industry has entered into a Joint Venture with Aircom Group AG

contentmediasolution.com

 

[HariPrasad-1]

What India needs is more fast chargers(~50kW) along the highways . Right now chargers are concentrated in cities while highways have few & far between which impacts max speeds you can drive. With fast chargers every 50 kms on highways even punch.ev is capable to travel long distances .

Very True. However, about a year ago, TATA upgraded their Software which improved the fuel efficiency. We need batter algorithm to make optimum use of Battery. 10% to 20% of range improvement can happen with same battery with batter algorithm.

 

[Cheepek]

The judges in NGT get their cars funded by tax payer so it doesn't matter to them

https://indianexpress.com/article/india/citing-law-ngt-rejects-spg-plea-to-extend-life-of-3-pm-vehicles-9237080/

 

[Haldilal]

Ya'll Nibbiars The Hinduja buyout the Reliance Capital for 10,000 crore + including 8,000 crore debt from a Japanese bank.

Anil Ambani’s Rs 9650 crore Reliance Capital to undergo rebranding, new owner to rename as…

Hinduja Group can use the Reliance brand for three years and the group reportedly isn’t rushing to rebrand RCap or any of its companies.

www.dnaindia.com

 

[nongaddarliberal]

this is such a well-used but sinister way to present stats.

83% of jobless Indian are youth.

so out of all jobless Indians, 83% are youth. isnt that obvious when 85% of India's population is "youth" ?

this doesnt say anything about how much of Indian youth in general are jobless. but the number sticks to you like "83% of youth are jobless".

deeper in the article - 65% of educated youth are in this group - this still means out of overall jobless folks, 65% are youth with secondary educatio - which still is obvious when the overall education numbers have increased in that period.

while this does not say the job market is better or worse, the numbers themselves dont really show the exact picture that the article is trying to project.

It's a malicious attempt to trick casual readers into seeing "83% of youth are jobless" if they don't read carefully, which most don't.

 

[Haldilal]

Ya'll Nibbiars

Indian Startup FY23 Financials Tracker: Tracking The Financial Performance Of Top Startups

Inc42’s Indian Startup Financials Tracker FY23 aims to be your eyes and ears, updating you on these numbers as they unfold

inc42.com

India’s top-funded tech startups reined in FY23 losses as revenue growth slowed

India's top-funded technology startups, which went overboard with expenses to attract talent and customers in 2021-22 thanks to record venture capital funding, reined in their ......

www.vccircle.com

https://startupstorymedia.com/insights-indias-swiggy-reports-200-million-loss-ahead-of-ipo-plans/

Byju's: Once A Unicorn, Now Is The Largest Loss Making Startup Of India

Once a unicorn ranked among the most valuable startups in the country - Byju’s is now the largest loss-making startup of India. After a delay of 22 months, Byju’s on Tuesday disclosed its financials for FY22. The losses of the company have nearly doubled to ₹8,245 crores or about $1 Bn, the...

www.businesstoday.in

https://www.financialexpress.com/business/industry-losses-hound-beauty-startups-3364465/

 

[The Juggernaut]

 

[thebakofbakchod]

No matter how people here cope, jobless growth for the youth is a very real thing, unless you find nothing wrong with millions of youth running pani puri vendor business or toiling as farm labourers or simply lazing around drinking alcohol and doing nothing worthwhile. The entire gangetic belt has extremely low formal employment. There are over 100 million youth in this region. How many of them are earning a regular salary of at least 10000 INR a month? The government should stop dismissing employment surveys and start strangling the throats of babuRATs and CMs in these states.

 

[thebakofbakchod]

Game changer moment of local manufacturing. Such dorms and factory scale should be normalised.

 

[omaebakabaka]

APIs are manufactured in kgs at a time, most times it doesn't make sense to recalibrate process flow on shop floor for items of low demand.

Does not change a little bit whether its kgs or grams, there is still lot of processing to get to that quality and purity from base ingredients. China's scale is different....hard to stay afloat without any distinguishing edge and most of our drugs are generics.

 

[ezsasa]

No matter how people here cope, jobless growth for the youth is a very real thing, unless you find nothing wrong with millions of youth running pani puri vendor business or toiling as farm labourers or simply lazing around drinking alcohol and doing nothing worthwhile. The entire gangetic belt has extremely low formal employment. There are over 100 million youth in this region. How many of them are earning a regular salary of at least 10000 INR a month? The government should stop dismissing employment surveys and start strangling the throats of babuRATs and CMs in these states.

people in that region were/are voting for socialist governments, and you want gormint to solve "joblessness" in those regions.

 

[nongaddarliberal]

No matter how people here cope, jobless growth for the youth is a very real thing, unless you find nothing wrong with millions of youth running pani puri vendor business or toiling as farm labourers or simply lazing around drinking alcohol and doing nothing worthwhile. The entire gangetic belt has extremely low formal employment. There are over 100 million youth in this region. How many of them are earning a regular salary of at least 10000 INR a month? The government should stop dismissing employment surveys and start strangling the throats of babuRATs and CMs in these states.

Labour intensive growth will come with mass quality education. Right now the majority of our youth are not capable of contributing anything productive apart from being pani puri vendors or farm labourers or other menial tasks. This needs mass apprenticeships in industries to fix, as just expanding govt schools with negligent teachers won't help.

 

[omaebakabaka]

Labour intensive growth will come with mass quality education. Right now the majority of our youth are not capable of contributing anything productive apart from being pani puri vendors or farm labourers or other menial tasks. This needs mass apprenticeships in industries to fix, as just expanding govt schools with negligent teachers won't help.

Wrong, education as we know is not a factor for employment that is productive. Strictly speaking only very little of it is needed in service industry like hospitality. What makes someone employable are technical skills like electrical, welding and so on....and not in the way that we know but full thorough certification schools that teach skills the right way not some 0.5 cuck on the side of road welding a broken chair. These are the backbone, that will be necessary when manufacturing picks up. They are very employable in related industries.

 

[karn]

Wrong, education as we know is not a factor for employment that is productive. Strictly speaking only very little of it is needed in service industry like hospitality. What makes someone employable are technical skills like electrical, welding and so on....and not in the way that we know but full thorough certification schools that teach skills the right way not some 0.5 cuck on the side of road welding a broken chair. These are the backbone, that will be necessary when manufacturing picks up. They are very employable in related industries.

With the rise of automation normal consumer goods require minimal direct employment . Go through this thread itself .. 1000 cr investment out of which direct employment 400. It's almost 2cr investment for 1 job created . Govmint counts on 600+ nibbers to provide services for the 400 directly employed . Which is why indirect employment is always quoted by govmint.
Trades are not at all respected here just because of cultural reasons .

 

[sauntheninja]

people in that region were/are voting for socialist governments, and you want gormint to solve "joblessness" in those regions.

In this vein the Central government job is to bring investment into the country (Just a side note that FDI is actually failing) Majority of the investments are in the services sector mainly IT and hospitality and because of the Government spending infrastructure. Now all these investments along with the minimal investments in manufacturing that we are getting seem to be getting concentrated in regions which already have these industries TN, MH , GJ and Karnataka along with the Delhi NCR region. The rest of India seems to be happy sending their labor to these states for working in these industries and meanwhile they give freebies to the remaining populations mainly women and students who because of the lack of actual industries just endlessly study for government jobs and do side jobs in the side like mentioned above in the thread.

 

[omaebakabaka]

With the rise of automation normal consumer goods require minimal direct employment . Go through this thread itself .. 1000 cr investment out of which direct employment 400. It's almost 2cr investment for 1 job created . Govmint counts on 600+ nibbers to provide services for the 400 directly employed . Which is why indirect employment is always quoted by govmint.
Trades are not at all respected here just because of cultural reasons .

Nothing is respected unfortunately and that is the reason why we are in a state of ugliness all around in general. To this day, machines can't do a lot of what humans can do from very basic stuff like textiles that are of high quality to accelerometers used in planes. These are hand made and so are turbines and lot of other things. These just don't come out of no where, artisans, lock smiths, black smiths and so on are key to a modern country. Japan and Germany excel in this, now China too....US still does. Automation is going to take a bit from every discipline but these are skills that make you independent not some 2 bit programmer that you become out of Engineering school. Most advanced countries are starting more technical trade schools. Your point is on the contrary.
Cloud was supposed to be it but its a gigantic cluster fuck of complications and no engineer would ever create something like that. Same with this AI and ML, it will lead to some transformation in terms of what may be required in market but fundamental skills aren't going away. 3D printers also have limits, highest quality is handmade and those are still with advanced countries and you would be surprized how many technical people they employ that aren't necessarily engineers or scientists or what not.

Here is another what if....given a cnc machine or machining tool, a trade school graduate will employ it to create something useful vs your 2 bit educated engineer that will have no idea how to use it. He may have already forgotton what geometry is.....odds are clear based on general level of grads.