Indian Economy News & Discussion - Nov 27 2017

[vijayk]

[vijayk]

[vijayk]

[vijayk]

[A_Gupta]

In 2023, the top five recipient countries for remittances inflows among LMICs in current USD were India (125 billion), Mexico (67 billion), China (50 billion), the Philippines (40 billion), and Egypt (24 billion) (ibid.). India has been the largest recipient of remittances since 2008 (ibid.).

https://www.migrationdataportal.org/the ... %20(ibid.).

[vijayk]

https://www.dw.com/en/japanese-angst-as ... er-sharing
India #4


https://edition.cnn.com/2024/05/10/busi ... index.html
India boom

[sanman]

Anybody tried Burger Singh?
If so, what do you think of their menu?

https://www.youtube.com/watch?v=A-W_Pn7eFqM

[chetak]

https://economictimes.indiatimes.com/in ... s?from=mdr

[chetak]

[Pratyush]

Anybody tried Burger Singh?
If so, what do you think of their menu?

https://www.youtube.com/watch?v=A-W_Pn7eFqM

I have tried it. It's good.

Another point.

Post Balakot strike, they had offered a discount code for promotion.

But had to withdraw the promotion due to backlash from the opposition.

[csaurabh]

https://economictimes.indiatimes.com/in ... s?from=mdr

There's no such thing as 'T100' carbon fibre.

The TXX designation is used by a specific company (namely Toray) for denoting different grades of carbon fibre, eg. T300, T700 etc. They don't have any T100. Perhaps they meant T1000.
https://www.toraycma.com/products/carbon-fiber/

But in any case that designation is specific to Toray. Another brand of Carbon fibre supplier would use a different designation eg. Formosa has TC36, TC45 etc.

Indian made carbon fibre, when it comes, should have its own brand name and designation.

[chetak]

[drnayar]

[img]https://pbs.twimg.com/media/GNXQmrxWQAA ... ame=medium[/img


https://economictimes.indiatimes.com/in ... s?from=mdr

There's no such thing as 'T100' carbon fibre.

The TXX designation is used by a specific company (namely Toray) for denoting different grades of carbon fibre, eg. T300, T700 etc. They don't have any T100. Perhaps they meant T1000.
https://www.toraycma.com/products/carbon-fiber/

But in any case that designation is specific to Toray. Another brand of Carbon fibre supplier would use a different designation eg. Formosa has TC36, TC45 etc.

Indian made carbon fibre, when it comes, should have its own brand name and designation.

indeed its likely T1000 carbon fiber , look what google uncle dug up

https://interestingengineering.com/inno ... rbon-fiber

China to strengthen its aerospace sector with T1000 carbon fiber
The material once unavailable to the nation due to bans has key applications in the aerospace and defense sectors.

T1000 has a tensile strength of 7GPa, an ultimate elongation at break of 2.4 percent and a tensile modulus of elasticity (a measure of how much a material can be stretched without breaking) of 294GPa. This means that T1000 carbon fiber is ideally suited for use in aerospace, defense and other applications that require high strength and low weight

and it is indeed a BIG deal !!... reduce weight of all sorts of rockets and missiles and hence increase their payload., stronger lighter and potentially stealthier aircraft structures,

[chetak]

Excellent takedown of Indian & NRI economists who have made a career out of doubting GDP data.

Their double-speak & expedient logic nicely exposed by #AshimaGoyal, emeritus professor at IGIDR

[Tanaji]

Excellent takedown of Indian & NRI economists who have made a career out of doubting GDP data.

Their double-speak & expedient logic nicely exposed by #AshimaGoyal, emeritus professor at IGIDR

Chetakji no link found in the post

[chetak]

Excellent takedown of Indian & NRI economists who have made a career out of doubting GDP data.

Their double-speak & expedient logic nicely exposed by #AshimaGoyal, emeritus professor at IGIDR

Chetakji no link found in the post

Just fo ryou, Tanaji saar


https://indianexpress.com/article/opini ... h-9319073/

[A_Gupta]

Good interview with the Finance Minister.
https://youtu.be/uKO8tk3_itQ?si=tJnerjG_KvGSIM2b

[vijayk]

[Kanoji]

"India On Cusp Of Long-Awaited Economic Takeoff; Sentiments On Income, Employment At Pre-Pandemic Levels": RBI

https://swarajyamag.com/news-brief/indi ... levels-rbi

[A_Gupta]

https://www.news18.com/business/india-t ... corekw=msn
India To Get Rating Support If It Uses RBI Dividend To Reduce Fiscal Deficit: S&P Analyst

The main point of getting a better credit rating from Fitch, Moody's and S&P is it reduces the cost of borrowing.

[fanne]

Hmm now these agencies will decide fiscal policies of India

[hgupta]

How do we derate these agencies? Exclude them from doing any business in India?

[sanman]

How do we derate these agencies? Exclude them from doing any business in India?

It's like asking how do we get some astrologer de-rated. Nobody is obligated to listen to an astrologer, it's only as long as they feel confidence in them that they'll listen to them.

Perhaps newer competitors can get into the ratings business. More new astrologers to give competition to the existing ones.

More competition will force better forecasts.

[drnayar]

https://timesofindia.indiatimes.com/tec ... 402626.cms

We are not entirely happy with the proposal they have submitted. The expert committee (India Semiconductor Mission or ISM) has informed them of that and wants them to bring partners in the 28, 40, 55 and 65 nm (nanometre) nodes instead of just the 180 nm proposal plan they have currently,” a government official told Economic Times.

[chetak]

India is in talks with Sri Lanka to acquire a graphite mine block in the island nation


https://economictimes.indiatimes.com/in ... s?from=mdr

[drnayar]

https://m.economictimes.com/news/econom ... 506646.cms

]India major gainer of China+1, exports to soar to $835 billion by 2030: Nomura

[chetak]

https://www.thehindubusinessline.com/ec ... 3A52%20PM.

[vera_k]

RBI moves 100 tonnes gold from UK to India

Surprisingly, GST was paid on the import.

[chetak]

Is India circling her wagons ...



India’s central bank RBI just shifted 100Tonnes of Gold From UK to India.

This is the first time since 1991 when gold at this scale has been added to stock held locally.

More gold will be moving back to India in coming months, RBI says.

Any guesses at “what” is happening?

[JTull]

Is India circling her wagons ...



India’s central bank RBI just shifted 100Tonnes of Gold From UK to India.

This is the first time since 1991 when gold at this scale has been added to stock held locally.

More gold will be moving back to India in coming months, RBI says.

Any guesses at “what” is happening?

This is to prevent confiscation as reparations if and when West decided that India is becoming too big for its hawaii chappal. All part of slow dedollarisation.

[Suraj]

No one mentioned GDP data yet ? Oh well...

GDP grew 8.2% in 2023-24
MOSPI Official Press Release

The past three fiscal years since Covid have therefore registered 9.2%, 7.0% and now 8.2% effectively averaging almost 8.2% growth over three years, which is by a distance the fastest in the G20. PRC registered 8.1%, 3.0% and 5.2% during the same years or an average 5.4%.

[A_Gupta]

Solid if not spectacular GDP growth. The Gross Value Add and the Manufacturers Price Index are the two key numbers which work together to make it less than spectacular. Private consumption is not growing fast so the exports will have to grow to keep up the economic growth. Manufacturing did very well (grew faster than the economy).

https://www.youtube.com/live/N-LQQaWZty ... HEO66Hnfb3

[drnayar]

No one mentioned GDP data yet ? Oh well...

GDP grew 8.2% in 2023-24
MOSPI Official Press Release

The past three fiscal years since Covid have therefore registered 9.2%, 7.0% and now 8.2% effectively averaging almost 8.2% growth over three years, which is by a distance the fastest in the G20. PRC registered 8.1%, 3.0% and 5.2% during the same years or an average 5.4%.

And as Modiji said this is only the beginning... I for one believe india will surpass China and US as the premier global economy and it's share growing to between 20-30 percent of global GDP.

The wheel of destiny would have by then turned a full circle.

[Vayutuvan]

100 t gold is about 60k cr INR or about 8 B usd. India has > 400 B usd foreign currency reserves.

[Cyrano]

As per news reports, there is still some 400 t stored abroad. Lets say some 30B$ worth. So its not just about monetary value.

The move has a big message - western financial institutional hegemony is the target. In the future, smaller global south countries can look at Bharat to store their reserves.

[Suraj]

Can't find the original source of this image but here's the best breakdown of the location of RBI's gold holdings:

They're in the process of repatriating another 100 tons, meaning 313 tons abroad.

The change is probably the result of multiple factors - not just financial but infrastructural in the form of secure bullion vaults being built quietly.

[sanman]

What? Bloomberg report on India which doesn't involved trashing it?

https://www.youtube.com/watch?v=AvZ2BvzNbFo

Oh wait - go beyond first 10 minutes, and the psy-ops start.

[Suraj]

No one mentioned GDP data yet ? Oh well...

GDP grew 8.2% in 2023-24
MOSPI Official Press Release

The past three fiscal years since Covid have therefore registered 9.2%, 7.0% and now 8.2% effectively averaging almost 8.2% growth over three years, which is by a distance the fastest in the G20. PRC registered 8.1%, 3.0% and 5.2% during the same years or an average 5.4%.

A few notable snippets from the data:
* For the first time, Indian per capita GDP crossed 2 lakh, to Rs.2.11 lakh (pg 10, row 27, col 3)
* Per capita private final consumption expenditure is now Rs.1.28 lakh per year (pg 10, row 31, col 3), up almost 50% from the trough of the Covid year, and 40% up from the last year before Covid.
* Manufacturing is up 9.9% in 2023-24, from -2.2% in the prior fiscal (pg 11, stmt 3, row 2.1, last 2 cols).
* Utilities continue to grow strongly up 7.5% down slightly from 9.4%, but construction up to 9.9% from 9.4%
* Moderation in the tertiary sector growth since it's stabilizing to longer term average vs the sharp uptick post covid.
* Production indices (pg 14, annex B ) are mostly notably positive. 13%+ steel consumption growth two years in a row, almost 10% for cement, 11%+ for coal, two year average private vehicle sales growth of 15%, and more.