Indian Economy News & Discussion - Nov 27 2017

[rajkumar]

Ground Report: In Water-Stricken Bundelkhand, Jal Jeevan Mission Is Transforming Lives Of Women

https://swarajyamag.com/ideas/ground-re ... s-of-women

[vijayk]

https://twitter.com/bykarthikreddy/stat ... 2008585217

PM Modi in Rajasthan onboarded 1600 FPOs on ONDC network today.

While opposition's book of farmer empowerment ends with first chapter of Loan Waiver, BJP's PM Modi Govt is doing something different.

First expanded Farmer Producer Org (FPO) across the country. Now, BJP is empowering them with tech with ONDC.

ONDC is decentralized local commerce revolution currently happening in India to provide online market access to common citizen who has a product to sell but finds it tough to build online presence on his/her own.

Here for example FPOs have fresh produce & can easily onboard on ONDC & sell.

In Bengaluru too, HOPCOMs, that procures farm produce from farmers has onboarded itself on ONDC network. Earlier it couldn't make much sales. With ONDC it has crossed ₹2 lakh in sales.

What if farm laws are taken back? The govt is goal oriented, never does politics by depriving needs of people & finds its way to empower farmers.

[vijayk]

[vijayk]

[vijayk]

[vijayk]

[vijayk]

[drnayar]

on DW

[vijayk]

https://www.eurasiantimes.com/looks-to- ... -looks-to/
India Looks To ‘Strike Gold’ With Taiwan As Taipei Aims To Diversify, Move Away From Chinese Shadow

[vijayk]

[vijayk]

[Cyrano]

Exactly why we need BJP to be in power in the south states by 2030. OT here , so we can discuss further in StratFor threads if you wish.

[sanman]

[vijayk]

[vijayk]

On India’s rising economic tide lifting all boats in South Asia (xcept of course Pukestan)

[vijayk]

https://www.ndtv.com/india-news/india-e ... na-4264331

[drnayar]

https://edition.cnn.com/style/india-lar ... obal-en-GB

The newly-opened Surat Diamond Bourse is billed as a “one-stop destination” for over 65,000 diamond professionals, including cutters, polishers and traders. Featuring a succession of nine rectangular structures spilling out from — and interconnected via — a central “spine,” the sprawling 15-story complex has been built across more than 35 acres of land.

The trading center’s architects say it comprises over 7.1 million square feet of floor space, which would mean it has surpassed the Pentagon as the world’s largest office building.

[Atmavik]

On India’s rising economic tide lifting all boats in South Asia (xcept of course Pukestan)

there is no such thing as Sooth Asia. its Called Indian subcontinent

[vijayk]

[vijayk]

[Cyrano]

Good move, there will be some short term pain but we stand to gain significantly in the long term of our domestic business houses step up and invest for home and export markets.

[sanjaykumar]

Chawal is the new oil.

This is the calling card that says India has arrived.

Such an article would have been unthinkable to write 10 years ago.

Personally, I believe India should set aside minimum support in grains for the poorest of people, mostly in Africa. Play politics with prices but not lives.

[vimal]

On India’s rising economic tide lifting all boats in South Asia (xcept of course Pukestan)

there is no such thing as Sooth Asia. its Called Indian subcontinent

Careful there, South Asia was coined by our own MEA babus.

[Mollick.R]

India has started manufacturing 38 APIs in past 1.5 years: Mansukh Mandaviya
PTI Last Updated: Aug 05, 2023, 01:55 PM IST

India has started manufacturing 38 active pharmaceutical ingredients, or APIs, in the last one and a half years on which it was import-dependent, under the production-linked incentive (PLI) scheme for the sector, Union Health Minister Mansukh Mandaviya said here Saturday.

Mandaviya said that the 2017 border standoff with China at Doklam triggered India to rethink its self-reliant strategy regarding active pharma components as it was dependent on just one country for the import of 95 per cent of APIs for the formulation industry.

"Through the PLI scheme, we tried to ensure that the country does not have to import 54 APIs from abroad and our formulation industry gets APIs domestically. I am happy to share that in just a year and a half, India has started manufacturing 38 APIs, which is an example of Atmanirbhar Bharat," he said.

The first priority for this government to make healthcare accessible and affordable in rural areas was to address the requirement of doctors, he said.

"In the last nine years, the number of MBBS seats has increased from 52,000 to 1,07,000. This year, we have given ap ..

https://economictimes.indiatimes.com/in ... 446827.cms

[Cyrano]

Another homegrown idiot attacking India and the rupee. Ashoka Mody wants India to become a slave labour country like China, by making women work in factories and earn pittances since he wants rupee to be devalued massively for the dollar whose printing press never stops.

No gratitude for his education in iit-m payed by Indian taxpayers.

https://www.ft.com/content/c3a28628-5b9 ... 41bea05969

[vijayk]

Great move

[yensoy]

Another homegrown idiot attacking India and the rupee. Ashoka Mody wants India to become a slave labour country like China, by making women work in factories and earn pittances since he wants rupee to be devalued massively for the dollar whose printing press never stops.
No gratitude for his education in iit-m payed by Indian taxpayers.
https://www.ft.com/content/c3a28628-5b9 ... 41bea05969

The part about female employment pisses me off even more than "keep rupee down" snake oil. Our society and policies should support women to work in any position and at any level they choose to. But by the same measure women should be equally at ease to sit it out while they raise children and take care of families. Clearly economists don't understand that raising children is a full time job (and if the mother works, there is or should be a support system in place), which is why the developed world and their factories (China, Japan, Korea) have plummeting birth rates. Do we want to follow their downward spiral?

Rupee is already very cheap in terms of its purchasing power for goods & services produced within India. We need to work on going up the value chain and import substitution rather than producing commodity goods at even cheaper prices.

[sanjayc]

there is no such thing as Sooth Asia. its Called Indian subcontinent

Careful there, South Asia was coined by our own MEA babus.

I thought this nomenclature was first started by US State Deptt. with mischievous intent, after Pakistan's desire to not identify the entire region with India's name. What next? Rename Indian Ocean as South Asian Ocean?

This is the same US State Dept. strategy of diluting national identity of Indians by calling them as "south Asians"

[chetak]

Careful there, South Asia was coined by our own MEA babus.

I thought this nomenclature was first started by US State Deptt. with mischievous intent, after Pakistan's desire to not identify the entire region with India's name. What next? Rename Indian Ocean as South Asian Ocean?

This is the same US State Dept. strategy of diluting national identity of Indians by calling them as "south Asians"

sanjayc ji,

sadly for the US SD, and also because of emerging geostrategic considerations and the pivotal function, if it so desires, that can/will be played by one state, the name Indo pacific has been chosen by the US DOD to acknowledge the prominence of that state's expected role and growing geopolitical eminence.

there is a dichotomy in the perception of the US DOD and the US SD, as far as India is concerned, and the US SD is carrying a huge chip on its shoulder, as well as, a lot of historical baggage that it started accumulating since just after the partition of India and the US SD's often preferred tilt towards the pakis

The US SD naturally exerts more control when dealing with a dictatorship than it can or does with a democracy. Otherwise, neverwho's stoopide moral sermonizing was the cause of bad blood between India and the US, (including many other countries), right from the early 50's

the nixon-kissinger role and involvement in sending the US 7th fleet to intimidate IG during the 1971 war is one unforgettable instance.

sanjayc ji, south asia has been morphed into a deliberately deconstructed, limiting, and constrictive name by the jealous goras, designed specifically to diminish the rich history, and down play the long standing civilizational ethos, and the cultural dominance of the ancien Indian geopolitical and geo-economic power

we are and always have been a much sought out continent by ourselves, and "sub continent" tells only half the story

[vimal]

Careful there, South Asia was coined by our own MEA babus.

I thought this nomenclature was first started by US State Deptt. with mischievous intent, after Pakistan's desire to not identify the entire region with India's name. What next? Rename Indian Ocean as South Asian Ocean?

This is the same US State Dept. strategy of diluting national identity of Indians by calling them as "south Asians"

I think part of it was also our own MEA. South Asia also includes Afghanistan.
I was against the South Asia till i realized we live in such a down-trodden neighbourhood with worth names like Pak, BD and Afg that are the hotbed of global terror and poverty.

[Cyrano]

The part about female employment pisses me off even more than "keep rupee down" snake oil. Our society and policies should support women to work in any position and at any level they choose to. But by the same measure women should be equally at ease to sit it out while they raise children and take care of families. Clearly economists don't understand that raising children is a full time job (and if the mother works, there is or should be a support system in place), which is why the developed world and their factories (China, Japan, Korea) have plummeting birth rates. Do we want to follow their downward spiral?

Absolutely. Its even worse in the "developed west": both parents working for meaningless globalist jobs leaves the children to day care and schools which are infested by woke & trans activism. Any parent - man or woman staying home to raise kids is painted as retrograde/conservative/right wing in the west. And they want the developing east to follow the same model - but by doing hard labour mining and mfg jobs and keep their currency low, survive on crumbs and pollute their own environments, to keep the west's lifestyle affordable and "carbon footprint" low and in the end, import their destructive or rather suicidal societal model and "get digital i.e. "gig economy" and hail it as "modernity" and "development" ! There is an effing lot at play here.

[chetak]

Sliced any which way, this ha got to count as a big achievement of the Modi govt

[Deans]

My blog rpdeans.blogspot.com deals with Indian startups and their illusion of profitability - apart from Indian national security and geopolitics.
Please read and comment.

[Cyrano]

Enjoyed your posts and commented saar... shared with some friends as well. keep them coming...

[isubodh]

Sliced any which way, this ha got to count as a big achievement of the Modi govt

I doubt it should be called achievement. A PSU with monopolistic nature if sets profit as measure then it's conflict of purpose.
SBI reduced its saving interest rates, it started charging non minimum balance fees, cash deposit charge, more than 5 atm transactions cost.
PSU banks made close to 35000Cr or 5bln USD in 5 years fom non minimum balance charge, atm cost n sms charges.
For the lower income strata PSU banks are the banks by default. Now current govt is giving by one hand to this population and taking back by another.
PSU banks can easily make more profit bit it will come mostly from people who need cost effective servics.

[Aditya_V]

Happy ignoring the 34 lac crore NPAs UPA rule bought, people are repaying borrowed loans, that's why PSU banks have become profitable

[isubodh]

Happy ignoring the 34 lac crore NPAs UPA rule bought, people are repaying borrowed loans, that's why PSU banks have become profitable

Here again, NPA recovery from Corporates has been dismal ~30%. Surely future NPA would have been reduced due IBC.The PSU banks has not become more efficient suddely, nor has been mass layoff to lift bottom line.
So what I can imagine is small savers been shafted with lower interest payout on saving account(reduced to 2.5%) and FD along with other charges for every service.

[VenkataS]

Why do we need PSU banks if they are charging non minimum balance fees, cash deposit charge, more than 5 atm transactions cost? Is there a strategic need for them to remain as PSUs?

[sanman]

Why do we need PSU banks if they are charging non minimum balance fees, cash deposit charge, more than 5 atm transactions cost? Is there a strategic need for them to remain as PSUs?

Jobs Program

[Adrija]

sanman ji, may I beg to differ......... government ownership of banks is quite useful when regulatory structures are not well evolved (and sadly, even when they are)... regulatory capture by banks and other financial institutions is quite a real risk and then the banks run amok w financial frauds, excessive pay and generally very sharp practices particularly relating to consumer finance....... one has to only look at the US financial sector to realize the true costs such regulatory capture inflict on the economy in general and consumers specifically

In India, where a significant portion of the population remains indigent and financially vulnerable, I would support public ownership of banks... the downside is of course the phone banking and associated scams and loss of taxpayer monies which Chiddu cauliflower farmer inflicted on all of us... but with the current government I would be assured (as an example, JanDhan and even UPI may not have happened had the government now owned the banks)

And of course the fact that this government has committed to privatization longer term... I think we are on a good wicket here

IMVVHO and all that of course