Indian Economy News & Discussion - Nov 27 2017

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

Post by a_bharat »

Watch this to understand the context of the recent RBI actions on rupee settlement for international trade.

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

Post by vijayk »

https://economictimes.indiatimes.com/ne ... 837006.cms
IIP surges to 12-month high of 19.6% in May

India's industrial output, measured by the Index of Industrial Production (IIP), rose to a 12-month high of 19.6% in May, up from 6.7% in April,
Electricity generation rose 23.5% year on year in May while manufacturing output grew 20.6% and mining output rose 10.9%, NSO data released on Tuesday showed.
IIP had grown 27.6% in May last year, due to low-base effect.
As per India Ratings, a significant pick-up in IIP is indicative of ongoing economic recovery, but its sustainability is still not a given in view of raging inflation and adverse global geopolitical situation.
Last edited by vijayk on 13 Jul 2022 18:59, edited 1 time in total.
vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

a_bharat wrote:Watch this to understand the context of the recent RBI actions on rupee settlement for international trade.

Thanks. Very good discussion

One thing that comes out of Modi's economic team is long term planning - whether it is Finance, Fertilizers, exports, Monetary policy, tax policy, Petrol pricing, Defence, Semi conductor

We know we want quicker results but they hold their nerves and tweak programs as they fine tune
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

2022

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

Post by Vips »

Exports rise 23.52% to $40.13 billion in June; trade deficit at $26.18 billion.

India’s merchandise exports in June grew by 23.52 per cent to USD 40.13 billion, while the trade deficit ballooned to a record of USD 26.18 billion, according to the government data released on Thursday.

Imports expanded by 57.55 per cent to USD 66.31 billion in June compared to the year-ago month, the data showed.

The trade deficit stood at USD 9.60 billion in June 2021.

Cumulative exports in April-June 2022-23 rose by about 24.51 per cent to USD 118.96 billion, while imports increased 49.47 per cent to USD 189.76 billion during the period.

The trade deficit during the first three months of this fiscal widened to USD 70.80 billion from USD 31.42 billion in the year-ago period.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by saip »

Considering that, that football is probably made in Pakisatan, I am surprised they are not seen on it.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by fanne »

Is the trade deficit a little too high for our comfort?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ambar »

I think the trade deficit was expected as factories, construction, consumers come online after 2 yrs of covid disruptions. It is also not helping because of high oil, edible oil and gold prices.

I am very,very surprised how dovish RBI has been given that rupee and bonds are under so much pressure. Nirmala tai is known for her dovish outlook but i would have expected RBI to significantly increase the interest rates by now.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

india could well achieve trade surplus in usd if whole oil payment goes into rupee
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Mukesh.Kumar »

kit wrote:india could well achieve trade surplus in usd if whole oil payment goes into rupee
Kit, can you explain that? I would think even if it's rupees, you still are going to import more than you export. Maybe I am missing a hidden angle here.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ambar »

We have a long, long way to go before countries start accepting rupee for their exports on a regular basis. Once the war is over, even Russia will demand dollars/euros for crude from us. The renminbi despite backed by China's economic clout and its total trade of over $4.5 trillion an year still accounts for only 3% of global trade transactions. Infact the renminbi does not even rank in top 5 global currencies by market share when it comes to trade.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by V_Raman »

it almost feels like raising interest rates are not going to help. people in india are earning more and can spend more. so prices are bound to go up.

as for USA, their prices have been historically very low - % of income spent on food is probably the lowest in the world - maybe they should just level set to new prices as the new norm just like rest of the world.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://swarajyamag.com/technology/made ... trying-out
Made In India Payment System Is A Runaway Success That 10 Nations Are Trying Out
Meanwhile, wrote the authors: "India is racing ahead and implementing what the crypto crowd had promised – with its Unified Payment Services."

UPI, the instant real-time payment system developed by the National Payments Corporation of India (NPCI) in 2016, for facilitating inter-bank transactions, has morphed into a simple, uncomplicated mobile payments option, embraced by Indians in spectacular numbers.

According to NPCI, the value of 595 crore (5.95 billion) transactions on UPI during the month of May 2022, crossed the Rs 10 lakh crore mark (10 trillion) for the first time (the exact number was 10.41 lakh crore).

By cutting out intermediaries, UPI is doing exactly what blockchain is supposed to do – and by making it (for now at least) a payment mechanism that is free of transaction charges, it has attracted 26 crores (260 million) unique users and 5 crore (50 million) merchants in India alone.

And its makers at NCPI cannily placed its protocol in the public domain, so that others could build their technologies on top and customise it for their customers – a lesson well learnt from the experience of Open Source in the computer world.

As a result, the reach of UPI is near ubiquitous in India – with over 300 banks offering their linkages through the UPI users bank account. And in addition to the NPCI’s mother app, BHIM, some 50-plus third-party players offer UPI-enabled apps.
Going Global

Even as UPI continues to bridge the payment gap for millions in India, its authors had a larger – global – vision. In April 2020, NPCI launched a subsidiary, NPCI International Payments Ltd (NIPL), to take UPI to foreign markets.

Nepal will soon be the first to enable UPI country-wide with the backing of the Nepal Rastra Bank.

Today, merchants in Bhutan, Cambodia, Malaysia, Philippines, Singapore and Vietnam already accept UPI payments, thanks to cross border payment agreements.

In April this year, the BHIM UPI app went live all over the UAE, at NeoPay terminals operated by Mashreq Bank. Indian-origin residents and tourists in Dubai, Abu Dhabi and other Gulf centres, can now pay for purchases with the same app they use in India.

The reach of UPI is not limited to Asia or the Middle East. France may be the first European country where UPI can be used. IT Minister Ashwini Vaishnaw announced last month that NPCI had signed an MOU with French payments provider Lyra Networks to kickstart UPI’s French Connection.

At home and abroad, the made-in-India digital payments system that is UPI seems to be looking at continued growth. A June 2022 study for PhonePe by the Boston Consulting Group entitled “Digital Payments in India: a $10 trillion opportunity” found that the digital payments industry in India was enroute to quadrupling from the current $3 trillion to $10 trillion by 2026.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Biggest obstacle to BHIM UPI usage by NRIs is that it requires Indian mobile number to be linked to the bank accounts.

Getting an Indian mobile number requires Aadhar card.

Foreign passport holding NRIs cannot get Aadhar card if they do not have Indian address registered on any other govt. issued id.
kit
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

chetak wrote:2022

Image
2030 PPP

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

Post by Suraj »

JTull wrote:Biggest obstacle to BHIM UPI usage by NRIs is that it requires Indian mobile number to be linked to the bank accounts.

Getting an Indian mobile number requires Aadhar card.

Foreign passport holding NRIs cannot get Aadhar card if they do not have Indian address registered on any other govt. issued id.
Not accurate from anecdotal evidence I've seen from extended family - not even NRIs but OCIs. Kotak Bank account has a BHIM UPI link in its app. To get that account requires foreign passport and OCI. They have no PAN or Aadhar. Through UPI section in the Kotak app they've been paying by scanning QRs - it has worked flawlessly.
Prem Kumar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Prem Kumar »

Got to love the ex-CEA K V Subramanian. Outspoken & confident of his analytical rigor. He just slapped P Chidambaram hard today!

https://twitter.com/SubramanianKri/stat ... 6065768450
While I rarely get personal, @PChidambaram_IN deserves to be the exception. He either doesn't understand if GDP is a stock or a flow, which I don't believe for a 4-term FM. Or, he DELIBERATELY DISTORTS GDP as a stock variable to further his agenda. See
https://timesofindia.indiatimes.com/blo ... ial-crisis 1/2
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Suraj wrote:
JTull wrote:Biggest obstacle to BHIM UPI usage by NRIs is that it requires Indian mobile number to be linked to the bank accounts.

Getting an Indian mobile number requires Aadhar card.

Foreign passport holding NRIs cannot get Aadhar card if they do not have Indian address registered on any other govt. issued id.
Not accurate from anecdotal evidence I've seen from extended family - not even NRIs but OCIs. Kotak Bank account has a BHIM UPI link in its app. To get that account requires foreign passport and OCI. They have no PAN or Aadhar. Through UPI section in the Kotak app they've been paying by scanning QRs - it has worked flawlessly.
Legally, this is not possible because you cannot have an Indian mobile number in your name without being KYC'd using Aadhar. BHIM UPI requires Indian mobile. Believe me I have been trying for many years. Only solution is to bribe local councillor to issue a certificate to get Aadhar, which I don't wish to do.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

There’s a link to UPI from within the Kotak Bank app. This is not the separate Bhim UPI app. No bribery of any kind was involved here - it pretty much just worked going from the account details to the UPI sub page on the app. Their NRO account is registered against their US number.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Dilbu »

India’s agri, processed food exports up 14% in Q1 FY23
India’s exports of agricultural and processed food products rose 14% on-year in the first three months of FY23 to $5.98 billion, the commerce and industry ministry said in a statement on Sunday.

The exports of these products were $5.25 billion in the same period of the previous fiscal.

“Of the total $23.56 billion export target for 2022-23, 25.4% (has been) achieved in the first three months,” the ministry said.
The exports of fresh fruits & vegetables rose 8.6% while those of processed food products like cereals and miscellaneous processed items grew 36.4% year-on-year in the first quarter of 2022-23.
India’s agricultural products exports had grown 19.92% during 2021-22 to touch $50.21 billion.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://www.business-standard.com/artic ... 679_1.html

Farmers' average income grew 1.3-1.7x between FY18 and FY22, says SBI study
Adds that farm loan waivers benefitted just 50% of farmers since 2014; MSP has been instrumental in boosting incomes
As the government grapples to meet its stated goal of doubling farmers’ income by 2022-23, a study by India’s largest bank, SBI, shows that between financial year 2017-18 and 2021-22, the average income of farmers rose by 1.3 -1.7 times across India, while in some crops like soybean in Maharashtra and cotton in Karnataka, incomes have in fact doubled during the same time.

The study, which comes barely days after the Centre showcased success stories of farmers who have managed to double their incomes during the past few years, also said that the increase in income of farmers growing cash crops has been more than those growing non-cash crops between FY18 and FY22.
The SBI report added that income from allied and non-farm activities grew by a significant 1.4-1.8 times in line with the increase in farmers’ income during the same period.

“This substantiates the trend as per the 77th National Sample Survey that the source of farmer income has become increasingly diverse apart from crops,” the report said.

The Ashok Dalwai Committee on Doubling Farmers’ income set up by the Central government in its 14-volume report released a few years ago, had said that to double income from both farm and non-farm sources, it would have to grow by 10.4 per cent between 2015-16 and 2022-23 (the terminal year) in real terms (inflation-adjusted) and not nominally.
Time for another Suraj's article.

The focus with which Modi's Govt. works on these goals is amazing.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://swarajyamag.com/business/how-in ... e-for-toys
How India Reduced its China Dependence For Toys
For years, China has been the undisputed leader of toy manufacturing globally. The country accounts for around 75 per cent of the toy supply globally, with just one district, Chenghai accounting for almost 30 per cent of the global toys produced. Even high-end toy manufacturers have depended on China for outsourcing manufacturing. For example, Mattel Group, known for manufacturing toys such as Barbie and Hot Wheels, produces around 74 per cent of its products in the country.

India has not been immune to Chinese toy imports, with around 80 per cent of toys in India being imported. China alone accounted for 70 per cent of India’s toy imports. India’s bottom-heavy population pyramid also means that more than a quarter of our population is under the age of 14. Clearly, India has a huge toy market, most of which have been captured by Chinese toys. But with decisive government action, India has been able to break away from its dependence on China.
Due to Covid pandemic, Chinese manufacturers couldn’t get their plants certified, while Indian manufacturers could get themselves certified much more quickly. In addition, the government increased the import duty on toys from 20 per cent to 60 per cent. But, since China is covered under the Asia Pacific Trade agreement, the actual duty for China turned out to be around 34 per cent. Nevertheless, the impact of these changes, along with supply-chain issues, resulted in imports of toys into India almost halving.

Indian toy manufacturers have already reported that their revenues have increased significantly after the steps taken by the government to dis-incentivise toy imports into the country.
Indian toy sector still face issues since manufacturers do not specialise in higher-end toys such as electronic toys.

The Indian manufacturing sector has focused on low- to mid-technology products with relatively lower value addition. China has a strong electronics industry, which allows toy companies to source the materials required to manufacture these toys.

Indian toy manufacturers have reportedly cited high duty on the import of machines from countries like Korea and Japan as the reason for the low production capacity of electronic toys. In addition, there aren’t many players that operate on a large scale in the sector, with many small companies operating in the space. These companies are finding it difficult to meet the necessary standards imposed on the toys they manufacture. So, while toy imports might have been curbed with the government’s help, meeting the increasing demand for toys will depend on whether Indian manufacturers can catch up quickly.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India central bank prepared to spend $100 bln more defending rupee-source.

Hope this is not true as there is no guarantee that even after spending nearly $100 Billion we will be able to stop the further falling of rupee vis-a-vis the American Dollar. We have already spent $30 Billion plus without any appreciable result and our reserves have slipped to $580 Billion.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ambar »

Looks like Russia is now asking for dirhams for oil from India. Didn't they agree to trade in rupees as a way to bypass sanctions ?

https://www.cnbc.com/2022/07/19/russia- ... uters.html
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by bharathp »

Ambar wrote:Looks like Russia is now asking for dirhams for oil from India. Didn't they agree to trade in rupees as a way to bypass sanctions ?

https://www.cnbc.com/2022/07/19/russia- ... uters.html
UAE also recently has allowed rupee transaction - some sort of tripartite agreement happening?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vayutuvan »

Suraj wrote:Their NRO account is registered against their US number.
This is correct as of 2018. Online banking can be done by linking to the US phone number for OCIs. This is for BoM. Unfortunately, they want one to go to the branch where the account was opened first. Once that personal appearance is made and online banking gets activated, then one can do transactions in any branch of that bank as well as online.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by bharathp »

Vayutuvan wrote:
Suraj wrote:Their NRO account is registered against their US number.
This is correct as of 2018. Online banking can be done by linking to the US phone number for OCIs. This is for BoM. Unfortunately, they want one to go to the branch where the account was opened first. Once that personal appearance is made and online banking gets activated, then one can do transactions in any branch of that bank as well as online.
i was able to do this with kotak mahindra and dint have to go to any branch in India or US physically.
Suraj
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

Same . Kotak does everything online or over WhatsApp including the ID - they do a video call and you answer the questions. UPI in this case ‘just worked’. Great integration into other things like Swiggy or Zomato in India as well, all with NRO account and US number.

Indian consumer fintech is cutting edge.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

bharathp wrote:
Ambar wrote:Looks like Russia is now asking for dirhams for oil from India. Didn't they agree to trade in rupees as a way to bypass sanctions ?

https://www.cnbc.com/2022/07/19/russia- ... uters.html
UAE also recently has allowed rupee transaction - some sort of tripartite agreement happening?
Makes sense if Russia has nothing more to buy from India with rupees. Dhiram-Rupee exchange will make repatriation easier; and Ruble-Dhiram exchange can be used by Russia to purchase goods from the world at large, routed thru UAE.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Dilbu »

Surprised to see Switzerland as third largest source of remittances. Is this due to swiss bank related activities?
With $87 billion, India top remittance recipient in 2021: UN report
With $87 billion, India was the top remittance recipient among low- and middle-income countries, as per 2021 estimates, way ahead of China and Mexico's 53 billion dollars, the Philippines (36 billion dollars) and Egypt (33 billion dollars).
The United States was the largest source country for remittances in 2020, followed by the United Arab Emirates, Saudi Arabia and Switzerland. Remittances increase or maintain consumer spending and soften the blow of economic hardship, such as during the COVID-19 pandemic.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Banks recover Rs 8.6 lakh crore bad loans in last 8 years: Govt
https://www.timesnownews.com/business-e ... e-92959620.
The Centre on Monday said that banks have recovered over Rs 8.6-lakh crore bad loans in the last eight years
As a result of comprehensive steps taken by the government and RBI to check the cases of NPAs and bring them down, scheduled commercial banks (SCBs) recovered Rs 8,60,369 crore over the last eight financial years (provisional data) from NPAs," Karad said.
He said a change in credit culture has been effected with the IBC and under it, resolution plans have been approved in 480 cases up to March 2022, with Rs 2.34 lakh crore amount realisable by financial creditors.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Suraj wrote:Same . Kotak does everything online or over WhatsApp including the ID - they do a video call and you answer the questions. UPI in this case ‘just worked’. Great integration into other things like Swiggy or Zomato in India as well, all with NRO account and US number.

Indian consumer fintech is cutting edge.
ICICI is useless
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

Yes it sounds like your travails are bank related and not systemic at all . If it’s not a problem, consider voting with your feet - the tech is very much there and works flawlessly.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://etinsights.et-edge.com/india-is ... powerhouse
India is set to become a trillion dollar manufacturing powerhouse

Image

A Bain & Company report highlights that India’s efforts are finally paying off and the country shall soon realize its manufacturing ambitions that will also help propel exports. So, what are the key factors driving a narrative shift in India’s manufacturing sector according to Bain & Company?

Prior to the Covid-19 years, India’s manufacturing exports had a growth rate between 5 and 10 percent, but over the last two years, exports have expanded dramatically, with a compound annual growth rate (CAGR) of 15 percent. India’s manufacturing exports hit $418 billion in fiscal year 2022. (FY22).

Six megatrends that accelerated over the last two years have fuelled India’s export growth and increased the country’s overall export attractiveness across a number of industries. The government initiatives to support manufacturing in the nation, supply chain diversification, advantages for India in some manufacturing sectors, capital expenditure infusion into manufacturing sectors, increased merger and acquisition (M&A) activity, and private equity/venture capital (PE/VC)-led investment in manufacturing are the six megatrends.

Manufacturing exports are anticipated to surpass $1 trillion by FY28 thanks in part to industries like chemicals, pharmaceuticals, electronics, automobiles, industrial machinery, and textiles.

Indian enterprises should concentrate on having a clear export strategy, the necessary execution skills, the appropriate alliances to facilitate exports, and an optimal capital expenditure (capex) efficiency focus to expand manufacturing capacity if they want to take advantage of the manufacturing exports opportunity.
India has already established itself as a rich reservoir for talent and leveraging this best-in-class workforce with cutting edge technology will help consolidate the country’s position as a manufacturing powerhouse in the near future. The performance of key sectors like chemicals, automotive, pharmaceuticals, engineering and consumer durables is going to be critical to India’s manufacturing ambitions.

The country is already known as the pharmacy of the world. Thanks to a further reduction in raw material imports for pharma, by FY28, it is anticipated that India’s exports of medications and pharmaceuticals will increase at a CAGR of 16 to 18 percent, or $45 to $50 billion.

India’s leadership in the pharmaceutical industry, along with recent developments like PLI incentive programmes, robust capex, increased mergers and acquisitions, and PE/VC investments with 100% FDI, and growing labour costs in rival nations like China, will give a boost to India’s manufacturing exports.

Presently, the country finds itself on the cusp of a becoming a global manufacturing power center. The challenge is sustaining the growth momentum and overcoming major geopolitical challenges.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India’s Merchandise Exports In First Six Months Of 2022 Jump About 27% To 235 Billion Dollars.

India’s merchandise exports during the first six months of the calendar year 2022 jumped about 27 per cent to 235 billion dollars, compared with 185.9 billion dollars a year ago. The country’s imports during January-June 2022 stood at 361.1 billion dollars, against 258.6 billion in the corresponding period last year.

The total merchandise export was 421.9 billion dollars during 2021-22 against the export target of 400 billion dollars, achieving 105.4 per cent of the export target.

Barring a few sectors, all major sectors during the January-June 2022 showed a positive trend with an overall growth rate of 26.7 per cent.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

https://www.sundayguardianlive.com/news ... as-economy

Social media is being used to create a cohort of real and virtual influencers who seek to convey to external and domestic investors a false sense of an economy and society in turmoil and decline.

CURTAILING INVESTMENT IN INDIA
Through the misuse of social media via the creation of a cohort of real and virtual influencers who collectively seek to convey to external and domestic investors a false picture of an economy and society in turmoil, the CMC-GHQ pair are seeking to muddy the waters for domestic and foreign investment in India sufficiently for potential mega investment flows to be aborted. The intention of such asymmetric warfare measures is for the investors that are essential for growth and employment to either leave India or to persuade them not to take a chance on what is the world’s largest pool of able manpower and future market. India’s is an economy whose fundamentals are among the best in the world. By creating a fog of misperception about the likely course of policy, the expectation within the CMC is that this promise and potential will remain unknown to large numbers of potential domestic and foreign investors. Over the past years, there has been a significant movement of investment from China to other parts of the world. What is possible is an acceleration of the flow of investment into India, something that is very possible under the Modi dispensation. Prodded by the PMO, the Defence Ministry has succeeded in improving the infrastructure in border areas in an unprecedented manner, as the military is aware that at any time there could be a flare-up of hostilities between them and the PLA, together with its auxiliary force, GHQ Rawalpindi. A similar war footing needs to be adopted by other ministries as well, especially those dealing with matters relating to the economy. Prime Minister Modi’s directive to examine the plethora of regulations and laws so as to remove many and make compliance easier for the rest needs to be speedily implemented by the entire government. Progress is already being made. Of an estimated 64,000 compliances at different levels of government (union, state and local) that were in place before 2014, as many as 29,000 have been removed as a consequence of the Prime Minister’s directive. Of the remainder, more than half could be removed, as several have been put into place only to create roadblocks that require inducements to be given so as to clear such deliberately-created hurdles to employment, innovation and output. Just as with the farm laws, long-needed reforms dealing with employment and land could be rescued from cold storage and devolved to the state level, thereby creating among them a competition in excellence.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by fanne »

It looks like we are also mid of currency war against us. We have lost 70billion of our foreign exchange. I do not know how much is that on account of current account deficit. Please read the above report with this.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by fanne »

I think we can connect the dots- India went to settle foreign trade in rupees after the currency war- warning the west that we don’t have to necessarily be welded to western monetary system if they try to undermine our currency.
kit
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Joined: 13 Jul 2006 18:16

Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

fanne wrote:It looks like we are also mid of currency war against us. We have lost 70billion of our foreign exchange. I do not know how much is that on account of current account deficit. Please read the above report with this.
what if de dollarization of forex is part of policy ? The Russian forex dollars didnt do them any good, so before they come for ours :mrgreen:
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