Indian Economy: News and Discussion

[Arjun Mk1A]

In terms of absolute numbers, GDP per capita (as per IMF), in 2024 was:
2024: India $2,850 Developing economies $6,770 (42%)
2014: India $1,560 Developing economies $5,140 (30%)
2004: India $635 Developing economies $1,790 (35%)
1998: India $419 Developing economies $1,380 (30%)


Amazing. In 10 years of educated PM rule, India grew POORER relative to rest of 3rd and 2nd world.

Country	2004	2014	2024 (est)	2014 to 2004	2024 to 2014
India	721	2040	4100	2.83	2.01
China	1950	10500	18560	5.38	1.77
Indonesia	279	891	1540	3.19	1.73
Vietnam	62	232	470	3.74	2.03
Brazil	669	2460	2270	3.68	0.92
Russia	633	2050	1900	3.24	0.93
Thailand	172	407	543	2.37	1.33
Pakistan	132	271	?? ~300-320	2.05

actual values of GDP in billions from IMF

UPA 1 ran on NDA policies. But UPA 2 is basically a Khichdi government where crooks throw tantrum by removing the support.

Just looting is the core business. That is why coalition is bullshit for us.

 

[indus]

Govt has started selling 'Bharat Rice' in retail and some folks spoke about spotting the bags at Reliance Fresh. Retailing at Rs. 29/kg but the quality is so-so only.

Rice is available in 5 kg bags. Apart from Bharat Rice GoI is also selling Bharat brand atta (flour) (140 Rs for 5kg) and Chana Dal (60 Rs 1Kg) , Masur Dal and Moong Dal. Demand for Bharat brand products is quite strong leading to stockouts in short span of time. Soon Bharat brand products will also be available in DMart.

 

[another_armchair]

Rice is available in 5 kg bags. Apart from Bharat Rice GoI is also selling Bharat brand atta (flour) and Chana Dal, Masur Dal and Moong Dal. Demand for Bharat brand products is quite strong leading to stockouts in short span of time. Soon Bharat brand products will also be available in DMart.

Going by the comments further down, someone might demand RS Pura basmati rice at 29 bucks a kilo.

Pulses are a must to keep hoarders in check.

 

[Cheepek]

Elections coming, bilkul riks ni lene ka


India Invokes Emergency Rules to Run Gas Power Plants for Summer
https://www.bloomberg.com/news/arti...ency-rules-to-run-gas-power-plants-for-summer

 

[ListenLittleMan]

India's Adani Ports sells Myanmar port for a discounted $30 million

https://www.reuters.com/business/indias-adani-ports-completes-myanmar-port-sale-30-mln-2023-05-04/

The Adani Group company announced the sale in May 2022 after a military coup in Myanmar and an ensuing crackdown on mass protests drew international ire and U.S. sanctions. The deal was, however, delayed due to challenges in meeting certain conditions including completion of the project.

So whats this now ?

 

[Coalmine]

View attachment 248313

Going by the comments further down, someone might demand RS Pura basmati rice at 29 bucks a kilo.

Pulses are a must to keep hoarders in check.

Kamse kam saaf karke de raha. Ration wala bakwas rehta

 

[Cheepek]

India's Adani Ports sells Myanmar port for a discounted $30 million

https://www.reuters.com/business/indias-adani-ports-completes-myanmar-port-sale-30-mln-2023-05-04/

So whats this now ?

I remember searching for the company the time Adani sold the port. I could not find anything significant. I would not be surprised if it was a spurious transaction. Pretty common for skirting sanctions etc.

 

[ezsasa]

do read this to understand what changed in last decade.

i hope more is written about this, because even in 2024 exfarts (both foreign and domestic) are pretending like this does not matter.
========
Why microeconomics and implementation matters: Policy lessons from PM Modi’s approach on development

Why microeconomics and implementation matters: Policy lessons from PM Modi’s approach on development

NDA government’s approach focused much more on micro-revolutions with greater emphasis on implementation as compared to UPA, who had a macro approach to growth and development, with greater emphasis on the aggregate numbers

www.moneycontrol.com

 

[indus]

View attachment 248313

Going by the comments further down, someone might demand RS Pura basmati rice at 29 bucks a kilo.

Pulses are a must to keep hoarders in check.

Good to see Govt schemes reaching the ground. I am humble baboo involved in this scheme.

 

[Cheepek]

Good to see Govt schemes reaching the ground. I am humble baboo involved in this scheme.

How is the quality?

 

[Indx TechStyle]

Going by the comments further down, someone might demand RS Pura basmati rice at 29 bucks a kilo.

₹ ko dobara buck bola to dekhna.

 

[no smoking]

India could have done what Japan, Korea, Thailand, Singapore, Malaysia and even China did and align with the US in exchange for economic assistance and access to the US market.

Align with US against whom?
Soviet which is thousands miles away?
China? Once Sino-Soviet relationship broke down in 1960s, China was slowly moving into USA's side.
Ironically, India was the target that USA was worried about during cold war.
That was why USA sent her fleet to warn India in 1971: USA could not afford a South Asia dominated by India.

The conclusion is: It is not India but USA who had no interest in creating an alliance with India for all these years in the cold war because they saw India itself as a threat. This attitude was only changed due to the rise of China.

 

[LondonParisTokyo]

Align with US against whom?
Soviet which is thousands miles away?
China? Once Sino-Soviet relationship broke down in 1960s, China was slowly moving into USA's side.
Ironically, India was the target that USA was worried about during cold war.
That was why USA sent her fleet to warn India in 1971: USA could not afford a South Asia dominated by India.

The conclusion is: It is not India but USA who had no interest in creating an alliance with India for all these years in the cold war because they saw India itself as a threat. This attitude was only changed due to the rise of China.

It was USA which sank INS Khukri during 1971 itself

 

[FalconSlayers]

India's TEPL to supply semiconductor chips to Tesla

ET exclusive: Tata Electronics seals semicon deal with Tesla - The Economic Times

The US-based electric vehicle (EV) major is keen to enter India, the worlds fastest-expanding major automotive market. Tesla promoter Elon Musk is reportedly visiting India this month for a meeting with Prime Minister Narendra Modi. Musk is expected to announce potential Indian investments...

m.economictimes.com

 

[Blademaster]

It was USA which sank INS Khukri during 1971 itself

That was done by a Pakistani sub. What makes you think that it was the USN that did it?

 

[LondonParisTokyo]

truth behind sinking of INS Khukri 1971 Indo-Pak War.

Lies being taught; In “Transition to Triumph”, published by the Naval Headquarters it is stated that December 9 1971; Pak submarin...

lovkap.blogspot.com

 

[Cheepek]

Goods exports ($)

India
Apr 2021- Mar 2022: $422B
Apr 2022- Mar 2023: $446B
% growth- 5.68%

Goods exports touch $447 billion in FY23, says Minister Piyush Goyal

India's merchandise exports for the 2022-23 fiscal year reached $447 billion, up from $422 billion in the previous year, according to a statement by Commerce and Industry Minister Piyush Goyal. Final figures for both goods and service exports will be released in mid-April. Goyal estimated that...

m.economictimes.com

Vietnam
Apr 2021- Mar 2022: $347.03B
Apr 2022- Mar 2023: $361.44B
% growth- 4.15%

https://www.gso.gov.vn/en/data-and-statistics/2021/03/exports-and-imports-value-by-months-of-2021/

https://www.gso.gov.vn/en/data-and-statistics/2022/03/exports-and-imports-value-by-months-of-2022/

Vietnam Total Exports, 1997 – 2024 | CEIC Data

Vietnam Total Exports recorded 33.7 USD bn in Mar 2024, compared with 24.7 USD bn in the previous month. Vietnam Total Exports data is updated monthly, available from Jan 1997 to Mar 2024, with an averaged value of 6.3 USD bn.

www.ceicdata.com

Goods exports ($)

India
Apr 2022- Mar 2023: $446B
Apr 2023- Mar 2024: $437B
% growth: -2%

India's merchandise exports dip marginally in March, FY24 shipments at USD 437 billion

The trade deficit or gap between imports and exports worked to be USD 240.17 billion.

www.zeebiz.com

Vietnam
Apr 2022- Mar 2023: $361.44B
Apr 2023- Mar 2024: $368.23B
% growth: 1.8%

https://www.gso.gov.vn/en/data-and-statistics/2023/03/exports-and-imports-value-by-months-of-2023/

https://www.gso.gov.vn/en/data-and-statistics/2024/03/exports-and-imports-value-by-months-of-2024/

Vietnam Total Exports, 1997 – 2024 | CEIC Data

Vietnam Total Exports recorded 33.7 USD bn in Mar 2024, compared with 24.7 USD bn in the previous month. Vietnam Total Exports data is updated monthly, available from Jan 1997 to Mar 2024, with an averaged value of 6.3 USD bn.

www.ceicdata.com

Vietnam has beaten us this year!

 

[sameer3694]

Goods exports ($)

India
Apr 2022- Mar 2023: $446B
Apr 2023- Mar 2024: $437B
% growth: -2%

India's merchandise exports dip marginally in March, FY24 shipments at USD 437 billion

The trade deficit or gap between imports and exports worked to be USD 240.17 billion.

www.zeebiz.com

Vietnam
Apr 2022- Mar 2023: $361.44B
Apr 2023- Mar 2024: $368.23B
% growth: 1.8%

https://www.gso.gov.vn/en/data-and-statistics/2023/03/exports-and-imports-value-by-months-of-2023/

https://www.gso.gov.vn/en/data-and-statistics/2024/03/exports-and-imports-value-by-months-of-2024/

Vietnam Total Exports, 1997 – 2024 | CEIC Data

Vietnam Total Exports recorded 33.7 USD bn in Mar 2024, compared with 24.7 USD bn in the previous month. Vietnam Total Exports data is updated monthly, available from Jan 1997 to Mar 2024, with an averaged value of 6.3 USD bn.

www.ceicdata.com

Vietnam has beaten us this year!

I believe big part of our exports is refined oil and petroleum derivatives whose prices have come down by a lot compared to last year. That might be the reason?

https://www.business-standard.com/companies/news/apple-sets-record-iphone-exports-under-pli-double-to-10-bn-in-a-year-124041400776_1.html

BTW. Apple now contributes to ~2.3% of our exports.

 

[Crazywithmath]

I believe big part of our exports is refined oil and petroleum derivatives whose prices have come down by a lot compared to last year. That might be the reason?

Yes. Falling exports despite increase in volumes.

Electronics and solar still at a very nascent stage, will be making up a significant % some 5-6 years from now.

 

[NutCracker]

https://pib.gov.in/PressReleseDetailm.aspx?PRID=2017942

TRADE DEFICIT REDUCED BY 43.5B $ .


We are totally growing on the basis of domestic consumption, but savings need to be increased.