Indian Economy News & Discussion - Nov 27 2017

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vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 03 Sep 2021 20:04

https://swarajyamag.com/technology/indi ... es-sectors
In A Major Coup, Indian Brands Have Come To Dominate Key 'Wearables' Sector

That shrewd Indian perception of paisa vasool or value for money, today transcends old perceptions of “phoren is best”. This is particularly apparent in the burgeoning market for smart wearables—health trackers and bands, smart watches and “earwear” or in-ear audio devices—which sees Indian consumers preferring desi brands in most product categories.

A study by market intelligence specialists, IDC, released this week, suggests that the almost doubling of wearable purchases in recent months, was largely to the benefit of Indian brands like BoAt, Noise, Fire-boltt and pTron, which in many cases displaced international names like Amazfit, Xiaomi, OnePlus and Samsung, from the top-selling slots.



I have a feeling that 2021 is turn around for Indian industry, manufacturing and exports. something really good is happening

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby saip » 03 Sep 2021 20:26

India received $17.866 billion in SDRs pushing reserves this week by a whopping $16.663 billion reaching a record $633.558 billions.
Last edited by Suraj on 03 Sep 2021 20:50, edited 1 time in total.
Reason: Please stop bringing trash here

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 03 Sep 2021 21:04

https://twitter.com/CNBCTV18News/status ... 7623958539

CNBC-TV18
@CNBCTV18News
Could this be another UPI moment for India!

Can the ‘Account Aggregator’ framework replicate UPI's success?

@_prashantnair
explains - the what, why & how of the new platform.

#FintechNews #Banking #customerservice #Markets #stocks



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Re: Indian Economy News & Discussion - Nov 27 2017

Postby jamwal » 04 Sep 2021 23:15

https://www.youtube.com/watch?v=E4SaHgqoXz8

Mind blowing strategy by Modi Govt| India Arab Mediterranean corridor|

Found this video. Any idea how true is it?

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby kit » 04 Sep 2021 23:34

jamwal wrote:https://www.youtube.com/watch?v=E4SaHgqoXz8

Mind blowing strategy by Modi Govt| India Arab Mediterranean corridor|

Found this video. Any idea how true is it?


I think this GOI believes in action rather than talk ., you will not find certain policy details in open media

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 05 Sep 2021 05:14

Image

Image
Last edited by vijayk on 05 Sep 2021 06:59, edited 1 time in total.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 05 Sep 2021 05:24

Image

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby Atmavik » 05 Sep 2021 07:51

vijayk wrote:Image



Not sure where the data is coming from. Last India today poll showed a significant drop in approval ratings because of COVID second wave and economy.

If economy isnt back soon, 2024 is a goner.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby disha » 05 Sep 2021 13:24

Atmavik wrote:If economy isnt back soon, 2024 is a goner.


2019 was a goner too. Just pointing it out.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby yensoy » 05 Sep 2021 16:47

disha wrote:
Atmavik wrote:If economy isnt back soon, 2024 is a goner.

2019 was a goner too. Just pointing it out.

Elections can be won based on many factors. I hope the factor for the next win is economics & growth, rather than politics.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby prahaar » 05 Sep 2021 21:11

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1751048

₹ 1,12,020 crore of gross GST revenue collected in August. Another 1L crore plus GST.

The revenues for the month of August 2021 are 30% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transaction (including import of services) are 27% higher than the revenues from these sources during the same month last year. Even as compared to the August revenues in 2019-20 of ₹ 98,202 crore, this is a growth of 14%.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 05 Sep 2021 23:32

https://indianexpress.com/article/india ... e-7487842/
Textile, apparel orders, especially from US, power India export surge
A sustained recovery in global trade and demand from key external markets like the US and the European Union in product categories such as textiles and garments have helped boost India’s exports, which recorded the sixth consecutive month of growth in August.


Image

From a macroeconomic perspective, rising exports are a positive sign for India’s economy as it recovers from the economic shock induced by the second wave of the Covid pandemic, which has differentially blunted three out of the four engines of GDP growth — private consumption, investments and government consumption.

Exports have been a silver lining, even as there are looming headwinds, including runaway freight rates and the growing shipping container shortage, alongside the possibility of global central banks putting a stop to their quantitative easing policy that could, in effect, progressively temper consumer demand in these markets.


https://indianexpress.com/article/opini ... d-7483589/
How can India’s economic recovery be sustained — and accelerated?
Saugata Bhattacharya writes: Policy support is needed to nurture the drivers of growth and sustain recovery process

In terms of sectoral activity, the revival of manufacturing GVA was the most robust, with mining and electricity growth somewhat moderate. Agriculture grew at 4.5 per cent, with cereals, pulses and oilseeds output at all-time highs. As could be expected, the services sector remained vulnerable, with activity even softer than expected. The weakest was the composite print of “trade, hotels, transport and communications”, though even the construction revival was weaker than expected, given analysts’ reports of strong residential demand. Steel and cement output growth — proxies for construction activity — were also quite robust in the quarter.


From the demand and expenditure side — a mirror to the above output description — private consumption was up 19.3 per cent (vs a 26.2 per cent contraction) while investment was at 55.3 per cent. Government consumption was lower by 4.8 per cent.


Mobility indicators — electricity consumption, e-Way bills, etc — suggest continuing strong activity in August. Rains, still deficient in most geographies, seem to have recovered recently. Jobs and hiring indicators, though, present mixed signals.


There have been significant improvements in corporate balance sheets over the course of the pandemic. The debt overhang has been reduced, operations have become more efficient, and the surviving enterprises are more competitive and resilient. However, the large universe of mid-and small-sized enterprises will take some time to restore their pre-pandemic operational levels. An increase in the flow of credit, from banks, NBFCs and markets, particularly to these stressed segments, is a priority, as a supplement to state spending. Bank credit off-take has remained modest during April-July, growing at an average of 6.1 per cent. This will need to increase.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 07 Sep 2021 22:05

Fitch continues to maintain a consistent record of living in a parallel universe:
Fitch: No India rating upgrade, vaccinations continue to 'lag way behind'

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 08 Sep 2021 18:37

https://swarajyamag.com/news-brief/indi ... -24-report
Indian White-Collar Job Market Stage
“With a fair share of setbacks in 2020, we can finally acknowledge a trend of overall recovery in the job market. While Jan-May’21 were still in the red compared to pre-pandemic numbers of 2019, we see a positive growth trend starting in June’21" Pawan Goyal, Chief Business Ocer, Naukri.com said,

" IT continues to dominate hiring and industries such as Education, Telecom, BFSI and Insurance are bouncing back too. As a result of increased hiring, the requirement for HR/Admin professionals too has seen a substantial uptick indicative of growth plans across organizations" he added.

IT sector firms led the hiring in the country, registering a growth of 79 per cent in August compared to August 2019. Education sector Jobs also recorded strong recovery with a growth of 102 per cent.s Strong Recovery, Grows 89% In August; Hiring Activity Surpasses Pre-Pandemic Levels By 24%


At a city level, hiring in the top six metros grew 39 per cent in August compared with August 2019, led by IT hubs Bengaluru (66 per cent), Hyderabad (61 per cent), Pune (54 per cent), Chennai (30 per cent), Delhi-NCR (16 per cent) and Mumbai (4 per cent).

Meanwhile, tier-2 cities have also been experiencing a gradual recovery, with hiring activity up by 10 percent, led by Ahmedabad (27 per cent) and Chandigarh (23 per cent).


Image

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 09 Sep 2021 20:36

https://swarajyamag.com/insta/jnpt-reco ... ugust-2021
JNPT Records Over 28 Per Cent Growth In Cargo Handling In August 2021

Jawaharlal Nehru Port Trust (JNPT), one of the premier container handling ports, witnessed an upswing in cargo handling and recorded a throughput of 4,53,105 twenty-foot equivalent units (TEU)s in August 2021, a growth of 28.45 per cent as compared to 3,52,735 TEUs in August 2020.

Nhava Sheva India Gateway Terminal (NSIGT) facility at JNPT handled 98,473 TEUs in August-2021, the highest ever TEUs handled since its inception.

The container traffic handled at JNPT during the first five months of FY 2021-22 was 22,50,943 TEUs against 15,44,900 TEUs, which is 45.70 per cent higher than the container traffic over the same period of last year.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 11 Sep 2021 11:53

Indias forex-reserves grow $8.89 billion to new record high of $642.45 billion.

India's foreign exchange reserve grew $8.895 billion to reach new record high of $642.453 billion in the week ended September 3, 2021, showed data shared by Reserve Bank of India (RBI).

Foreign currency assets (FCAs) accounted for the bulk of growth during the week, rising $8.213 billion to $579.813 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Special Drawing Rights (SDRs) allocation by International Monetary Fund (IMF) grew $29 million during the week under consideration. SDR holdings are part of the foreign exchange reserves of a country. IMF makes the general SDR allocation to its members in proportion to their existing quotas in the Fund.

A SDR allocation of $17.86 billion had taken the nation's forex kitty to previous record high of $633.558 billion in the week ended August 27.

India's reserve position in IMF rose by $11 million to $5.121 billion during the week under consideration.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby kit » 13 Sep 2021 00:20

Image

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby chetak » 13 Sep 2021 07:29

TT Ram Mohan busts 4 myths: 1) Demo caused big GDP blow. It didn’t. Impact (see marked area) was 0.5% on GDP growth. 2) NPAs happened >2014. Wrong. They happened in lending boom of 2004-12. NPAs down from 11.18% to 7.5%. 3) Growth will slow. Wrong. It’ll accelerate (marked area)
via @MinhazMerchant · 11 Sep



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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 15 Sep 2021 04:17

https://pib.gov.in/Pressreleaseshare.aspx?PRID=1754836

Exports on the Rise: Combined Merchandise & Services export figures estimated at $52.20 billion in Aug'21.

India’s exports grow by ~34% over Aug’20 & ~20% over Aug'19.

Image

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The commodities/commodity groups which have recorded positive growth during August 2021 vis-à-vis August 2020 arePetroleum products (144.6%), Gems & jewellery (88.3%), Engineering goods (59.01%), Cotton yarn/fabs./made-ups, hand loom products etc. (55.84%), Man-made yarn/fabs./made-ups etc. (51.71%), Marine products (50.7%), Coffee (42.31%), Mica, Coal & other ores, minerals including processed minerals (38.56%), Organic & inorganic chemicals (35.94%), Electronic goods (31.67%), Jute mfg. including floor covering (25.3%), Handicrafts excl. handmade Carpet (24.67%), Ceramic products & glassware (18.07%), Plastic & Linoleum (16.33%), RMG of all textiles (14.15%), Cashew (12.58%), Cereal preparations & miscellaneous processed items (12.19%), Fruits & Vegetables (10.13%), Tea (8.55%), Leather & leather products (8.37%), Carpet (6.93%), Rice (6.78%), Drugs & Pharmaceuticals (1.36%) and Spices (0.23%).

The commodities/commodity groups which have recorded negative growth during August 2021 vis-à-vis August 2020 are Iron ore (-64.58%), Oil meals (-45.75%), Meat, dairy & poultry products (-15.39%), Oil seeds (-5.78%), Other cereals (-2.56%) and Tobacco (-2.55%).

Cumulative value of exports for the period April-August 2021 was USD 164.10 Billion (Rs. 12,14,442.50 Crore) as against USD 98.06 Billion (Rs. 7,38,849.55 Crore) during the period April-August 2020, registering a positive growth of 67.33 per cent in Dollar terms (positive growth of 64.37 per cent in Rupee terms). As compared to April-August 2019, exports in April-August 2021 exhibited a positive growth of 23.25 per cent in Dollar terms and 30.83 per cent in Rupee terms.

Non-petroleum and Non-Gems and Jewellery exports in August 2021 were USD 25.19 Billion, as compared to USD 19.10 Billion in August 2020, registering a positive growth of 31.87 per cent. As compared to August 2019, Non-petroleum and Non-Gems and Jewellery exports in August 2021registered a positive growth of 28.73 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-August 2021 were USD 124.55 Billion, as compared to USD 83.48 Billion for the corresponding period in 2020-21, which is an increase of 49.21 per cent. As compared to April-August 2019, Non-petroleum and Non-Gems and Jewellery exports in April-August 2021 registered a positive growth of 24.99 per cent.


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Re: Indian Economy News & Discussion - Nov 27 2017

Postby Cyrano » 16 Sep 2021 15:49

Cabinet briefing by Union Ministers Anurag Thakur & Ashwini Vaishnaw
Revised PLI scheme for Auto, auto components & Drones, e-vehicles
Revised Telecom policy

All good onlee...


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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 16 Sep 2021 18:53

https://swarajyamag.com/ideas/why-modi- ... -new-india

Why Modi Needs A Chief Technology Officer For Conceptualising And Managing Digital Public Goods Of New India

One of the less talked about aspects of the Indian state is how its nature has been changing over the last one decade. As the bad old failed Central Public Sector Enterprises are winding down, due to privatisation or disinvestment, new age successful digital public goods are proliferating, driven chiefly by the government’s initiative.

This development also gives lie to the notion that the government is incapable of innovation or running an enterprise successfully. If one has right talent, good ideas, a governance structure where incentives are well aligned that facilitate achieving the set goals, then even a government programme can be successful.

Of course, even in the digital space, we have seen how some of the platforms championed and built by the government are now being utilised more successfully by the private sector. For instance, take the Unified Payments Interface (UPI), a world-class payment system developed by National Payments Corporation of India (NPCI) which enables instant real-time transfer of money from one bank account to another (or between digital wallets).



Another successful digital platform by the Centre is Government e-Platform (GeM) — its very own Amazon/Flipkart for procurement of all sarkari goods, small and big. The total value of procured goods and services by the Centre and states on the GeM portal crossed Rs 1 lakh crore in 2020-21, almost doubling from the previous year’s levels. There are now more than 12 lakh sellers on the platform.


Still, there is case to be made for a tech czar or a chief technology officer (CTO) operating out of the Prime Minister’s Office who can not only efficiently manage the ever increasing number of these digital public goods but also work towards creating new ones (and even closing down the ones that don’t work or modify the ones which have flaws).


A good CTO is essential to make the government function as a unified machinery that operates with consistent standards of efficiency, transparency and responsiveness. That is key to realising maximum governance, minimum government,” Rajeev Chandrasekhar, the current Minister of State for Electronics and Communications had written in 2015, championing the need to have a CTO in Modi’s team for the success of ‘Digital India’ initiative. Now that he is a minister, he should push strongly for it. It’s an idea whose time has truly come.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 16 Sep 2021 20:54

Can we look some of the issues raised here? Is this the right thread to discuss?

https://unherd.com/2021/08/what-the-wes ... rom-china/

The West can learn from China
There's a powerful moral force behind Beijing's recent crackdowns

The Chinese government has made an existential choice: rather than surviving by betting on the financial markets, it is going to produce stuff instead. It wants a nation full of engineers, not financial engineers; computer chips, rather than chocolate chips; innovation over financial experimentation. Beijing also wants an education system that actually educates, rather than creating a cottage industry of “progressive” credentialism that engenders a self-perpetuating upper class, rich both in terms of capital and diplomas but provides little in the way of genuine scholarship.


As economist David Goldman has noted, “in 2010, the five biggest tech companies accounted for just 11% of the market capitalisation of the S&P 500”. Today, however, “ten companies in the S&P 500 hold two-fifths of all the cash balances of index members, and all but one is a tech giant… The top three cash holders in the S&P — Microsoft, Apple, and Google — hold a fifth of all the cash held by index companies”.


“Apple is so cash-rich that it has bought back $327 billion of its stock since 2012. That explains why its stock price has risen by 82% in the past six years even though its operating income has barely changed


companies deploying cash flow toward stock buybacks, rather than investing in stateside facilities to enhance the nation’s productive investment and employment capabilities.


How did we get to point where our national economic conversation is dominated by chatter on the stock gyrations of GameStop, when this just an economic irrelevance for most of the 330 million people who live in America, and are struggling to sustain a modicum of economic security?


We ban the use of Chinese 5G equipment in US networks, but few ponder the question as to why there are no longer any American telecom equipment companies. After all, in the 1970s the two largest telecom equipment manufacturers were US companies: Western Electric and ITT.


Here in the United States, we lost our way decades ago, when we decided that the only social responsibility of a corporation was to increase its profits, community considerations and employees be damned. This laid the groundwork for economist Milton Friedman’s “stockholder theory”: the idea that shareholders, being the owners and the main risk-bearing participants, ought therefore to receive the biggest rewards.



Boeing and GE, to cite two prominent examples, were once poster boys for the success of American capitalism. Today they are but a shell of their former glory.

Both managements are now focused on financial engineering rather than manufacturing, much of which has been sold off, or outsourced to China. In doing so, they reflect an ethos that prioritises finance above all else in an economy increasingly characterised the layering of debt on top of debt


China’s State Administration for Market Regulation has been criticised for its fines on Alibaba Group, Tencent, and SF Holdings. But a closer look at the situations shows that these firms were singled out for what China’s chief regulator called “monopolistic corporate behaviour”, and the fines were levied “to protect consumer interests”. That sounds like the sort of thing that we are used to in the US, before our tech behemoths — Apple, Google, Facebook, Microsoft — gobbled up smaller competitors and began stifling competition and actively suppressing competitive innovation. These days, Beijing appears to believe in market competition more than we do.


It’s not as though Beijing’s authorities are saying mathematics is Western and needs to be replaced with Han math or Confucian physics — which would be the real equivalent of what we are currently doing in many of our universities, where the extremes of progressive ideology mean that medical school professors are forced apologise for referring to a patient’s biological sex on the grounds that “acknowledging biological sex can be considered transphobic”.


As Chinese fund manager Yuan Yuwei has argued, “housing, medical and education costs were the ‘three big mountains’ suffocating Chinese families and crowding out their consumption”. Yuan went on to describe these measures as “the most forceful reform I’ve seen over many years, and the most populist one. It benefits the masses at the cost of the richest and the elite groups.

Unlike America’s Federal Reserve, whose increasing tolerance and support of financial bubbles continues to engender profound systemic fragility in the American economy, Beijing is prioritising social cohesion above the narrow interests of financial rentiers. If only American policymakers had demonstrated such foresight in decades past.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 16 Sep 2021 20:55

I hope all these ideas are making it to the Government

Sridhar Vembu @svembu
Jul 30

1/ America is running a trade deficit of nearly $100 billion a month.

This is the consequence of "boost aggregate demand to avert a serious downturn" policy long advocated by economists like Paul Krugman. This is a good illustration of the bankruptcy of academic macro economics.


Sridhar Vembu @svembu

2/ Inflating aggregate demand ("priming the pump") does not create new capability.

Inflation rewards existing capability, and it also degrades that capability. It does so by creating a short term "make hay while the sun shines" mindset. We can clearly see that mindset right now.


Sridhar Vembu @svembu

3/ By running such "inflate demand" policy repeatedly for the past 20 years, America has eroded its real capability across a wide range of manufacturing industries and hence the trillion dollar trade deficit.
The semiconductor industry is the latest one where this is seen.



Sridhar Vembu @svembu

4/ Macro economists like Krugman point to GDP and jobs in America to justify inflating demand. When other nations supply a wide range of manufactured goods nearly free (i.e, taking dollar debt as payment), all that is needed are "token distribution jobs" to claim those goods.



Sridhar Vembu @svembu
5/ America has created plenty of such token distribution jobs, broadly categorized as "services" jobs even as manufacturing jobs and real industrial capability have eroded.

This is the direct consequence of the very policies academic macro economists have long advocated.


Sridhar Vembu @svembu
6/ India must chart a different course from America. The only path to sustainable prosperity is to build real capability across a broad segment of industries and run a balanced external trade, with short term trade deficits only to acquire critical know how and machinery.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby nam » 16 Sep 2021 21:32

No argument that India should concentrate on manufacturing job. However we should not critise what US is doing. They are the largest market and we want them to outsource!

How do you think China made so much money!

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 16 Sep 2021 21:51

nam wrote:No argument that India should concentrate on manufacturing job. However we should not critise what US is doing. They are the largest market and we want them to outsource!

How do you think China made so much money!


:rotfl:

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby arshyam » 17 Sep 2021 00:26

Sridhar Vembu is a member of the NSA's advisory board, so we can rest assured that such feedback is given and listened to. It's not a coincidence that he was picked over certain admired companies' head honchos, his company is doing the equivalent of manufacturing in the software world.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 17 Sep 2021 01:37

arshyam wrote:Sridhar Vembu is a member of the NSA's advisory board, so we can rest assured that such feedback is given and listened to. It's not a coincidence that he was picked over certain admired companies' head honchos, his company is doing the equivalent of manufacturing in the software world.


Forgot that.

This guy is a great patriot and doer.
They are setting up cloud infra too.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 17 Sep 2021 02:58

https://asia.nikkei.com/Spotlight/Comme ... f-slowdown
India's unicorn boom shows no signs of slowdown

That is more new unicorns created in India in just two months than the eight that emerged in all of 2020. It brings the country's total to 57, closing the gap with China, which boasts about 160 unicorns, which in turn is second only to the U.S., with roughly 400.

Among the nine Indian companies that became unicorns in July and August, five are engaged in business-to-business (B2B) services, two are in online education, one is a crypto asset exchange and one is an online used car marketplace aimed at consumers. Their composition reflects the recent rapid expansion of India's B2B sector. Eight of the 15 startups that became unicorns in the first half of the year were also B2B companies.

A quick look at the newest unicorns is revealing.

Image

As China's leadership tightens its ideological grip on big tech and other private-sector companies, yield-hungry global investors are increasingly placing their bets on other markets. India's startup equity market is the largest of these. The rising number of Indian unicorns may partly reflect inflated valuations, driven by the shift in international investment flows.

But it is also true that these new unicorns are building convincing business models base on new sources of demand. The virtuous cycle of ample funds fueling the growth of promising startups seems likely to continue for some time in India.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby Kaivalya » 17 Sep 2021 06:53

https://www.reuters.com/world/india/ind ... 021-09-16/



India could account for as much as 45% of global rice exports in 2021 as expanded port-handling capacity allows the world's second largest rice grower after China to ship record volumes to buyers across Africa and Asia.

The world's top exporter could ship as much as 22 million tonnes of rice this year, or more than the combined exports of the next three largest exporters Thailand, Vietnam and Pakistan, said Nitin Gupta, vice president of Olam India's rice business.

"Along with traditional buyers, this year China, Vietnam and Bangladesh are also making purchases from India," he said.

India's exports in 2020 jumped 49% from the year before to a record 14.7 million tonnes, as shipments of non-basmati rice spiked 77% to a record 9.7 million tonnes.

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Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 17 Sep 2021 21:52

https://www.ibtimes.co.in/gst-council-m ... day-840796
GST Council meeting today to decide bringing fuel prices under its tax net

The GST Council will meet in Lucknow on Friday to take decisions on issues related to duty revision that were put on the back burner in earlier meetings to focus on the Covid relief measures amid rising cases during the second wave of the pandemic.

The meeting, however, is expected to announce a few more Covid relief measures particularly on compliance matters. It will also announce a few measures to correct the inverted duty while discussing the compensation cess dues arising in 2021-22.

Two other important items, including lowering of GST rates for two-wheelers and bringing natural gas into the indirect tax fold may also be included in the agenda for discussion.


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