Indian Economy: News and Discussion

[SKC]

Reducing number of slabs won't work (look up Ajay Rotti for more inaights); the esteemed columnists and critics of the GST regime just don't get it. The tax structure has issues beyond that.

They have to find a way to make work. Need to simplify it a bit more and reduce tax rates also on multiple items.

 

[Crazywithmath]

They have to find a way to make work. Need to simplify it a bit more and reduce tax rates also on multiple items.

Slabs aren't even the issue here. Let me list the few issues plaguing the GST regime;
1. Multiple amendments,
2. Dysfunctional input tax credit system,
3. Sky high compliance cost,
4. Typical Sarkari IT system (consequences of L1) that routinely breaks down.

All this practically forces you to hire multiple consultants - just to make sure you are in compliance with the latest 'amendments' and not a single rupee is missing (they can make your life a living hell in case a small insignificant mismatch occurs).

For smaller business units, that is a pain in the ass.

 

[Azaad]

Check out the rankings of the land with the highest literacy in the country & the land of annadaatas. It's keeping company with Bihar & Assam among the various less populated states in our country.

 

[HariPrasad-1]

Forget these ,government put GST on hospital bills too. It may be minimal but tells us the mindset.

Are is Haramjado ne Dudh aur Ghee par GST Dal diya.

 

[RoaringTigerHiddenDragon]

Reduce GST on following:

Health Insurance
Car Insurance
Air Conditioners
Automotive parts
Automobiles

Green Air Conditioners for sure. These have to be promoted as lakhs of jobs can be given in plumbing, cooling components production, AC and parts installation. India already produces all kinds of pumps and with ACs the pump industry will grow and provide thousands of decent paying jobs.

 

[Cheran]

Does anyone know what has become of this -

In addition to this, they have also weaponized diamonds.

G7 wants all diamonds to be shipped to "Brussels" to verify that they are non Russian, this means more cost to us.

We have reduced purchases from Russia & now are buying more from De Beers (Imagine the shock.jpg).

They are bringing innovative tools & mechanisms to control trade/impose cost on non vassals.

 

[Blademaster]

Does anyone know what has become of this -

View attachment 251304

In addition to this, they have also weaponized diamonds.

G7 wants all diamonds to be shipped to "Brussels" to verify that they are non Russian, this means more cost to us.

We have reduced purchases from Russia & now are buying more from De Beers (Imagine the shock.jpg).

They are bringing innovative tools & mechanisms to control trade/impose cost on non vassals.

A WTO complaint needs to be made against EU and time to raise the costs of EU goods by demanding inspection and compliance

 

[Crazywithmath]

A WTO complaint needs to be made against EU and time to raise the costs of EU goods by demanding inspection and compliance

WTO is dysfunctional. And EU carbon tax would invite retaliatory duties from almost all non EU nations.

 

[Haldilal]

Ya'll Nibbiars

1 .

Bajaj Auto plans INR 800 cr capex in FY25, upcoming CNG bike to launch in phases - ET Auto

Bajaj Auto plans to invest about INR 800 crore capex in FY 2024-25 and launch the upcoming CNG motorcycle in phases. The company also aims to increase the production of Triumph motorcycles to 10,000 units by September.

auto.economictimes.indiatimes.com

2 .

Cosmos Bank performs spectacularly; earns gross profit of Rs 460.77cr

One of the largest urban cooperative banks of India- Cosmos Cooperative Bank, which had suffered a

www.indiancooperative.com

3 .

CtrlS launches Google Cloud Interconnect services in Hyderabad, Delhi, Mumbai

Hyderabad-based CtrlS Datacenters on Monday announced the launch of Google Cloud Interconnect services in three cities – Hyderabad, Mumbai, and Delhi, which will allow its customers to establish direct and reliable connections to the cloud service provider.

www.techcircle.in

4 .

Loka Viveka Launches the First HR Tech Venture Studio in India - www.lokmattimes.com

Loka Viveka Launches the First HR Tech Venture Studio in India: BusinessWire India Mumbai (Maharashtra) [India], April 29: Loka Viveka, a pioneering HR Tech and Work Tech Venture Studio, announces ... . Get all latest entertainment & viral stories on www.lokmattimes.com

www.lokmattimes.com

5 .

Waaree Energies seals 400 MW solar module supply deal with GIPCL

Mumbai, Apr 29 (IANS): Waaree Energies Limited announced on Monday that it has secured a 400 MW module supply order from Gujarat Industries Power Company Limited (GIPCL). The contract entails the comprehensive supply of solar PV modules incorporating advanced bifacial technology for the 2,375 MW...

www.daijiworld.com

6 .

Envision, Hero Future Energies In Long Term Deal

The Framework agreement will cover Envision providing 588 MW (178 units of EN 156-3.3 MW Wind Turbine Generators)

www.saurenergy.com

7 .

DSS wins Rs 725 cr solar project in Maharashtra

The project, valued at Rs. 725 crore, underscores the growing importance of solar energy in India

www.constructionworld.in

8 .

Stock jumps 4.3% after company commences production at its new plant in Maharashtra

Share price of micro-cap logistics stock moved up by 4.32 percent to hit an intraday high at Rs. 108.5 on the NSE in the trading session of Monday, after announcing the commencement of commercial production at a new plant in Maharashtra.

tradebrains.in

9 .

KPIT posts strong FY24 numbers, to add new verticals and expand in Asia

KPIT Technologies shows robust financial performance with significant revenue and profit growth. The company focuses on consistent growth, expanding into new segments, and geographical diversification for future success.

economictimes.indiatimes.com

10 .

Mumbai airport cargo volumes grow 6% in FY24 - Times of India

India Business News: CSMIA experienced a 6% growth in cargo volumes in FY 2023-24, with a 10% rise in international cargo volumes. The airport saw a 20% increase in Cargo

timesofindia.indiatimes.com

11 .

DP World picks up 1.5 lakh sq ft office space in Navi Mumbai to set up GCC

DP World leases 150,000 sq ft office space in Navi Mumbai's Aurum Q Parc tower for its global capability centre. The deal involves 5% annual rental escalation, totaling Rs 65 crore. Key tenants include ICICI Bank, Mizuho Bank, Lloyds Register, and Axis Securities.

economictimes.indiatimes.com

12 .

Nagpur-based Diffusion Engineers refiles DRHP with SEBI for IPO

The IPO consists of fresh issue of 9.85 million equity shares, each with a face value of ₹10.

www.livemint.com

13 .

FirstCry Refiles IPO Papers, Clocks INR 4,814 Cr Sales In Nine Months Of FY24

FirstCry DRHP: It will be raising INR 1,816 Cr through fresh issue of shares, while the OFS will comprise shareholders selling 5.4 Cr shares

inc42.com

14 .

M&M ED and CEO shares EV plans, says ready to compete with anyone amid Tesla entry news

With XUV 3XO, the Indian carmaker Mahindra and Mahindra aims to capture a larger market share of the SUV market. "3XO is a disruptor product…we have tried to excel in every dimension,” he said.

www.cnbctv18.com

15 .

Force Motors unveils new 3 and 5-door variants of Gurkha - ET Auto

Gurkha New Variant: Interested customers can book their vehicles on payment of INR 25,000 at the nearest Gurkha dealership. Price announcement is slated during the first week of May, post which the despatches to dealers will commence. The deliveries to customers are planned mid-May onwards, the...

auto.economictimes.indiatimes.com

16 .

EV maker Eka Mobility to invest 600cr in Pune plants | Pune News - Times of India

Eka Mobility, an EV maker based in Pune, is investing Rs 600 crore in manufacturing buses and light commercial vehicles at its plants in Chakan and Koregaon Bhima. The company aims to enhance its production capacity and supply vehicles for both domestic and export markets. Partnering with Mitsui...

timesofindia.indiatimes.com

17 .

ADIA, KKR book a $1.5b space in Reliance Retail warehouse

ADIA and KKR invest $1.5 billion in RRVL's warehousing assets, managed by RPPMSL. RRVL transfers assets to RLWH. Financial details include debt, NCDs, and equity. RRVL's growth supported by investments and strategic partnerships.

economictimes.indiatimes.com

18 .

Trumpf invests €5 million to establish manufacturing facility in India | Metalworking News

Trumpf is expanding its operations in India by opening a new production facility. The factory will be in Pune, in the state of Maharashtra in the west of India. “India is developing strong and still has growth potential. The proximity to this emerging market allows us to produce more efficiently...

metalworkingnews.info

 

[shade]

Does anyone know what has become of this -

View attachment 251304

In addition to this, they have also weaponized diamonds.

G7 wants all diamonds to be shipped to "Brussels" to verify that they are non Russian, this means more cost to us.

We have reduced purchases from Russia & now are buying more from De Beers (Imagine the shock.jpg).

They are bringing innovative tools & mechanisms to control trade/impose cost on non vassals.

Our industry will be fucked while following all these (((compliances))) while the Chinku will still manage to flood Gooropean markets with his products, which will endup having Russian inputs in raw materials.

 

[FalconSlayers]

All this hype created around "Saar we will be hydrogen supa powa saar sooonnn" and signing off trillions of dollars worth MoUs only to get an egg on the face.

 

[RDXChauhan]

Thoughts?

 

[thebakofbakchod]

Thoughts?View attachment 251331

Mostly rubbish, but some strict QC norms and punishments need to be brought ASAP. Many lower tier pharma companies need to be put in their place before they ruin the export potential of the bigger ones here. There has been too many reports of unsafe manufacturing practices by them. Even larger firms like Dr Reddy or Intas have glaring QC issues. Most of these sectors have low barriers of entry so these companies should stop fooling around

US FDA issues warning letter to Intas Pharma for manufacturing lapses

In a letter addressed to the company's CEO and MD, Nimish Chudgar, the U.S. Food and Drug Administration (USFDA) highlighted several shortcomings in manufacturing processes at the Matoda-Sanand facility in Ahmedabad.

www.livemint.com

 

[shade]

Mostly rubbish, but some strict QC norms and punishments need to be brought ASAP. Many lower tier pharma companies need to be put in their place before they ruin the export potential of the bigger ones here. There has been too many reports of unsafe manufacturing practices by them. Even larger firms like Dr Reddy or Intas have glaring QC issues. Most of these sectors have low barriers of entry so these companies should stop fooling around

US FDA issues warning letter to Intas Pharma for manufacturing lapses

In a letter addressed to the company's CEO and MD, Nimish Chudgar, the U.S. Food and Drug Administration (USFDA) highlighted several shortcomings in manufacturing processes at the Matoda-Sanand facility in Ahmedabad.

www.livemint.com

They have (((awakend)))) only recently to these QC violations though, for the past decade were they blind?

 

[blackleaf]

A quick question:
Why is it called 'the hindu rate of growth'? I find it very derogative...

Should probably be called the "Secular" rate of growth or the "Fabian Socialist" rate of growth or the " Nehruvian " rate for given who was in charge at the time and their policies.

 

[RoaringTigerHiddenDragon]

Mostly rubbish, but some strict QC norms and punishments need to be brought ASAP. Many lower tier pharma companies need to be put in their place before they ruin the export potential of the bigger ones here. There has been too many reports of unsafe manufacturing practices by them. Even larger firms like Dr Reddy or Intas have glaring QC issues. Most of these sectors have low barriers of entry so these companies should stop fooling around

US FDA issues warning letter to Intas Pharma for manufacturing lapses

In a letter addressed to the company's CEO and MD, Nimish Chudgar, the U.S. Food and Drug Administration (USFDA) highlighted several shortcomings in manufacturing processes at the Matoda-Sanand facility in Ahmedabad.

www.livemint.com

What i dont understand is why do they have low QC? You are at risk of losing your entire business. It is not like you will make tons of money by curting xorners on QC.

 

[RoaringTigerHiddenDragon]

They have (((awakend)))) only recently to these QC violations though, for the past decade were they blind?

Most likely due to increasing complaints to the US FDA from competitors like China.

 

[nongaddarliberal]

What i dont understand is why do they have low QC? You are at risk of losing your entire business. It is not like you will make tons of money by curting xorners on QC.

The underlying reason is not necessarily that they're intentionally cutting corners on quality controls for margins, though that also plays a major part. The root of the problem is that the majority of our MSME's simply don't have the exposure or mindset to have first world level quality controls. Their entire environment and ecosystem is thoroughly tier 2 Indian. This is simply how the majority of them operate and they don't know any other way. Bigger companies have exposure to outside production practices and can hire outside training for the initial CQ setup to consistently produce export (proper) quality.

Govt regulations won't fix it as the inspectors can simply be paid off. This will have to be fixed by the industry itself. They should set up a private quality control auditing agency that can be reliable in rating safety and issuing certificates.

 

[thebakofbakchod]

They have (((awakend)))) only recently to these QC violations though, for the past decade were they blind?

Wdym? this has been happening for decades already. Have you forgotten about Ranbaxy?

 

[shade]

Wdym? this has been happening for decades already. Have you forgotten about Ranbaxy?

I have seen a surge in such articles only in the last 2 years, it started with those "3rd world shithole kids die after having cough syrup from no-name company from bumfuck-nowhere, Haryana" articles, then moved on to FDA complaints on big-name Pharma companies like Dr Reddy.

This has all started in the post wuhan virus times.

I am not defending the jhol, jugaad and chalta hai "standards" of our Big Pharma, but we can assume they have been doing this for decades now, but only now Uncle Sam's FDA discovered these malpractices?

Pharma products are one of our top exports after refined petroleum products and diamonds.