Indian Economy: News and Discussion

[Hari Sud]

It would appear that US Democrats are behind the indefinitely postponed Elon Musk’s visit to India. They do not want Modi to win big in the current elections. The Elon Musk visit would have provided a bit more effort to build Indian economy which would help people to vote for Modi.

Elon Musk has no choice but to build big in India. His China dream has been watered down and now big market is India which with his $2/3 Billion investment would give him a big head start. Now it to wait.

We’ll put a hold on his other projects and proposals. Let the Democrats in US know that India has other alternatives.

 

[Shuturmurg]

It would appear that US Democrats are behind the indefinitely postponed Elon Musk’s visit to India. They do not want Modi to win big in the current elections. The Elon Musk visit would have provided a bit more effort to build Indian economy which would help people to vote for Modi.

Elon Musk has no choice but to build big in India. His China dream has been watered down and now big market is India which with his $2/3 Billion investment would give him a big head start. Now it to wait.

We’ll put a hold on his other projects and proposals. Let the Democrats in US know that India has other alternatives.

Lol. No.

Democrats don't have that leverage over Elon of all people, he is already pro republican. Most probably will wait till election results are out. Will be hard for him to meet all big politicians in middle of election campaigning.

 

[Hari Sud]

Lol. No.

Democrats don't have that leverage over Elon of all people, he is already pro republican. Most probably will wait till election results are out. Will be hard for him to meet all big politicians in middle of election campaigning.

‘That part he (Musk) knew before he finalized the visit. This last minute postponement looks fishy.

 

[thebakofbakchod]

Nah, the real reason is that tesla is getting btfo by chongs. Their latest quarter showed it. Sales were even worse than expected. The truth is that an Indian factory makes no sense for them at this point, especially for exports, as they can comfortably supply the demand from their existing factories. And with gormint treating car sales as a luxury with massive tax after tax, they will struggle to sell more than 10k cars a year

 

[thebakofbakchod]

Bharat Fritz Werner Opens New Plant In Hosur | Chennai News - Times of India

Chennai: Machine tool solution provider Bharat Fritz Werner Ltd (BFW) has announced the inauguration of its manufacturing facility at Devaganapalli, i.

timesofindia.indiatimes.com

India needs 100s of such factories producing machine tools. We need to make modern CNC machines very cheap, allowing our outdated and inefficient MSME factories to upgrade and mechanise their productions

 

[spacemarine2023]

Lol. No.

Democrats don't have that leverage over Elon of all people, he is already pro republican. Most probably will wait till election results are out. Will be hard for him to meet all big politicians in middle of election campaigning.

Musk will listen to democrats more than Indian Govt or US gov more than Ind Govt so he is correct its definitely democrats regime advising him to postpone

 

[Hari Sud]

Nah, the real reason is that tesla is getting btfo by chongs. Their latest quarter showed it. Sales were even worse than expected. The truth is that an Indian factory makes no sense for them at this point, especially for exports, as they can comfortably supply the demand from their existing factories. And with gormint treating car sales as a luxury with massive tax after tax, they will struggle to sell more than 10k cars a year

‘You may or may not be right. Do you think Elon Musk’s analysts did not know this for a long time. I am sure they knew about it, still Musk made plans to invest $2/3 Billion in India including satellite transmissions. It is the 12th hour postponement which is bothersome. It is politicians heading the U.S. State Department who sabotaged the trip. ….. cheers

 

[FalconSlayers]

‘You may or may not be right. Do you think Elon Musk’s analysts did not know this for a long time. I am sure they knew about it, still Musk made plans to invest $2/3 Billion in India including satellite transmissions. It is the 12th hour postponement which is bothersome. It is politicians heading the U.S. State Department who sabotaged the trip. ….. cheers

He hasn't made any official plan, these are media reports. Tesla is losing market share in China and thats what is worrying him the most. He is amongst those businessmen who thought its great to make in China only to be screwed by their companies stealing/utilising licensed tech for much better or cheaper chinese equivalent products. So it is obvious that he won't invest anything here, he's coming here for starlink, and maybe signing off deals with Indian space companies for supply of components and all since he's meeting with them.

 

[Hari Sud]

He hasn't made any official plan, these are media reports. Tesla is losing market share in China and thats what is worrying him the most. He is amongst those businessmen who thought its great to make in China only to be screwed by their companies stealing/utilising licensed tech for much better or cheaper chinese equivalent products. So it is obvious that he won't invest anything here, he's coming here for starlink, and maybe signing off deals with Indian space companies for supply of components and all since he's meeting with them.

‘Let us analyze that who forced the postponement? To me it looks like that US state Department, whose mandarins hate India and Modi.

 

[FalconSlayers]

‘Let us analyze that who forced the postponement? To me it looks like that US state Department, whose mandarins hate India and Modi.

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week

Tesla slashes prices of select models in the US, with the Model Y now starting at USD 42,990. Musk postpones India trip. Company faces challenges as sales decline, with first quarterly sales drop in nearly four years.

economictimes.indiatimes.com

Tesla woos China customers with cheaper cars after Musk defers India visit

Tesla Inc. has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.

economictimes.indiatimes.com

 

[Hari Sud]

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week

Tesla slashes prices of select models in the US, with the Model Y now starting at USD 42,990. Musk postpones India trip. Company faces challenges as sales decline, with first quarterly sales drop in nearly four years.

economictimes.indiatimes.com

Tesla woos China customers with cheaper cars after Musk defers India visit

Tesla Inc. has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.

economictimes.indiatimes.com

What I read from these articles is that Musk was forced into postponement of visit to India. His business has declined. He is concerned and looked at India to give him boost. That visit was a business decision, but postponement is a political decision. Now India should demand a price for this insult.

 

[prasadr14]

What I read from these articles is that Musk was forced into postponement of visit to India. His business has declined. He is concerned and looked at India to give him boost. That visit was a business decision, but postponement is a political decision. Now India should demand a price for this insult.

We will, he will pay it in premium dollars.
Gujjus will make Elon an offer he can't refuse.

 

[nongaddarliberal]

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.

And it has turned out exactly as predicted. The ILO report said that 83% of unemployed people are young, not that 83% of young people are unemployed, and DW fell right into the trap, or are intentionally misconstruing it.

 

[jai jaganath]

And it has turned out exactly as predicted. The ILO report said that 83% of unemployed people are young, not that 83% of young people are unemployed, and DW fell right into the trap, or are intentionally misconstruing it.

Disinfo campaign at its peak against govt
1st phase
Then railways (although issue is genuine)
Now unemployment
Be it sm or media

 

[Hari Sud]

We will, he will pay it in premium dollars.
Gujjus will make Elon an offer he can't refuse.

BS….. who are Gujjus you are referring to.

 

[prasadr14]

BS….. who are Gujjus you are referring to.

Modi and Shah.
From their track record, they have always kept their ego out of picture, both internally and externally.

ex 1: US denying Modi Visa but we did not see him make it an issue
ex 2: Nitish screwed them multiple times, again kept their ego out of picture.

So, when Elon comes with a proposal, they will keep ego out and get the best possible deal.

 

[Rango]

India's income tax receipts up 17.7% in 2023/24 to $235 billion.

The number of taxpayers who filed income tax returns rose to nearly 82 million in 2023/24, 9% higher than in the previous financial year.

India's income tax receipts up 17.7% yr/yr in 2023/24, near $235 billion

Income tax receipts in India, comprising personal and corporate levies, rose 17.7% year-on-year to nearly $235 billion in the 2023/24 financial year ending in March, reflecting the rising incomes of rich taxpayers and corporate profits. Net income tax receipts for the 2023/24 financial year...

finance.yahoo.com

 

[no smoking]

Elon Musk has no choice but to build big in India. His China dream has been watered down and now big market is India which with his $2/3 Billion investment would give him a big head start. Now it to wait.

Tesla's sales in China had been increasing since 2020:

The only decline so far was Feb-24, but in Mar-24, sales growth was resumed.

And the fact was Tesla just added another 200,000 production capacity to their Shanghai factory, made it the largest one in their all giga factories and counted 41% of her whole capacity around the world.

And there is a battery giga-factory is going to produce in China by the end of this year.

So, it is just too early to state that he is losing Chinese market.

We’ll put a hold on his other projects and proposals. Let the Democrats in US know that India has other alternatives.

What other alternatives?
Chinese EV producers? I don't think so.

 

[Hari Sud]

Tesla's sales in China had been increasing since 2020:

View attachment 249511

The only decline so far was Feb-24, but in Mar-24, sales growth was resumed.

And the fact was Tesla just added another 200,000 production capacity to their Shanghai factory, made it the largest one in their all giga factories and counted 41% of her whole capacity around the world.

And there is a battery giga-factory is going to produce in China by the end of this year.

So, it is just too early to state that he is losing Chinese market.



What other alternatives?
Chinese EV producers? I don't think so.

All Musk’s sales hoopla in China has ended. The Chinese copied and built millions of their own cheap cars and have begun export, hence leaving Tesla flat or declining sales in the near future.

 

[Haldilal]

Ya'll Nibbiars

1 .

UltraTech to invest INR 800 Cr to ramp up presence in Maharashtra

UltraTech Cement will be investing more than an estimated INR 800 Crore on strengthening its presence in Maharashtra

media.biltrax.com

2 .

EV start-up EMotorad ends FY24 with 370% growth in domestic market

EMotorad, a leading electric cycle brand in India, experiences over 370% growth, exceeding 100,000 customers globally.

www.thehindubusinessline.com

3 .

Netcon Tech Invests in Nikitek to Digitise Airport Baggage Handling

IT infrastructure company Netcon Technologies made a strategic investment of an undisclosed amount in tech startup Nikitek for digital transformation in the pas

business.outlookindia.com

4 .

UltraTech Cement to acquire India Cements’ Maharashtra asset for ₹315 crore

UltraTech Cement acquires grinding unit in Maharashtra from India Cements, expands capacity to strengthen market presence.

www.thehindubusinessline.com

6 .

Atmanirbhar Bharat in Action: Kaynes to Build RUDRA Supercomputers - techovedas

The partnership between Kaynes Technology and CDAC marks a pivotal leap towards indigenous RUDRA high-performance computing.

techovedas.com

7 .

Mega Networks To Manufacture AI Servers In India; Investing Rs 350-400 Cr

Mega Networks, one of India's leading computer hardware companies, plans to set up a new factory in Maharashtra to locally manufacture artificial intelligence servers.

knnindia.co.in

8 .

Vodafone Idea’s Rs 18,000 crore FPO fully subscribed on last day

Vodafone Idea FPO: Rajiv Jain's GQG Partners, which had invested nearly Rs 1,350 crore in Vis anchor book, continued to invest in the FPO. Additionally, several other foreign institutional investors, such as Capital Group and Fidelity Investments, subscribed to the issue, according to banking...

economictimes.indiatimes.com

9 .

India proffers HAL its largest-ever tender: 97 Tejas fighters

The state-owned company has ramped up its annual production capacity in anticipation of additional contracts.

www.defensenews.com

10 .

Bajaj Auto set to ride into Egypt with its "Qute" platform

But all isn't rosy for the company. Bajaj also flagged that the currency situation in Egypt is bad and can't start pumping out as many units as desired.

www.moneycontrol.com

11 .