Indian Economy News & Discussion - Nov 27 2017

The Technology & Economic Forum is a venue to discuss issues pertaining to Technological and Economic developments in India. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://swarajyamag.com/pti-wires/biz-pmi-manufacturing
India's Manufacturing PMI Rises To 10-Month High Of 57.6 In November Amid Strong Surge In Production, Sales
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI), increased from 55.9 in October to 57.6 in November, signalling the strongest improvement in the health of the sector in ten months.

Moreover, the headline figure was well above its long-run average of 53.6.

The November data pointed towards tentative signs of an improvement in hiring activity, following three successive months of job shedding.

The October PMI data pointed to an improvement in overall operating conditions for the fifth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Manish_P
BRF Oldie
Posts: 5413
Joined: 25 Mar 2010 17:34

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Manish_P »

^ Any breakup available of Rupay vs MC/Visa ?

I think Rupay must have captured even more space from the MC/Visa going by the recent complaints being made to the US government

Visa complains to US govt about India backing local rival RuPay
Visa Inc has complained to the U.S. government that India's "informal and formal" promotion of domestic payments rival RuPay hurts the U.S. giant in a key market, memos seen by Reuters show.

In public Visa has downplayed concerns about the rise of RuPay, which has been supported by public lobbying from Prime Minister Narendra Modi that has included likening the use of local cards to national service.

But U.S. government memos show Visa raised concerns about a "level playing field" in India during an Aug. 9 meeting between U.S. Trade Representative (USTR) Katherine Tai and company executives, including CEO Alfred Kelly. Mastercard Inc (MA.N) has raised similar concerns privately with the USTR. Reuters reported in 2018 that the company had lodged a protest with the USTR that Modi was using nationalism to promote the local network.

Modi has promoted homegrown RuPay for years, posing a challenge to Visa and Mastercard (MA.N) in the fast-growing payments market. RuPay accounted for 63% of India's 952 million debit and credit cards as of November 2020, according to the most recent regulatory data on the company, up from just 15% in 2017.
yensoy
BRF Oldie
Posts: 2494
Joined: 29 May 2002 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

I was going to say that the credit card spend would amount to around $135 million USD outflow per month (at 1% of the transactions). I guess if most of the profit is held back in India through Rupay that is a good thing. 30% corporate tax on $1.2 billion per year would give us enough money for a couple of Rafales.
chetak
BRF Oldie
Posts: 32277
Joined: 16 May 2008 12:00

Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

yensoy wrote:I was going to say that the credit card spend would amount to around $135 million USD outflow per month (at 1% of the transactions). I guess if most of the profit is held back in India through Rupay that is a good thing. 30% corporate tax on $1.2 billion per year would give us enough money for a couple of Rafales.
why wouldn't/shouldn't the GoI back Rupay.

After all, Isn't it their baby
yensoy
BRF Oldie
Posts: 2494
Joined: 29 May 2002 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

chetak wrote:
yensoy wrote:I was going to say that the credit card spend would amount to around $135 million USD outflow per month (at 1% of the transactions). I guess if most of the profit is held back in India through Rupay that is a good thing. 30% corporate tax on $1.2 billion per year would give us enough money for a couple of Rafales.
why wouldn't/shouldn't the GoI back Rupay.
After all, Isn't it their baby
Of course GoI should back Rupay. Main thing is for profits to be kept within the country, or profits to be lowered by reducing transaction costs for merchants which will mean more CC transactions and formalization of economy. Any money spent on Visa is money mostly wasted. These days with ubiquitous technology for payments, high CC transaction charges and cartels are neither necessary nor a value add in any manner.
V_Raman
BRFite
Posts: 1380
Joined: 04 Sep 2008 22:25

Re: Indian Economy News & Discussion - Nov 27 2017

Post by V_Raman »

Rupay is govt owned and free. While paid payment networks are not inclusive in a country like India.

Imo - in this day and age - there should be a global free payment network operateD by all the countries respecting sovereign boundaries and real-time exchange rates. Anything else is predatory.

India should not allow businesses that want to make money where there is no need for a value add intermediary service.
chetak
BRF Oldie
Posts: 32277
Joined: 16 May 2008 12:00

Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

@nsitharaman·8 Dec

“India surpassed Brazil in food exports to the League of Arab States for the first time in 15 years as the COVID-19 pandemic disrupted trade flows in 2020…

India's geographic advantages allow it to ship fruits, vegetables, sugar, grains and meat…”
vimal
BRFite
Posts: 1904
Joined: 27 Jul 2017 10:32

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vimal »

^^
India surpasses Brazil as No.1 food supplier to Arab countries after 15 years

Let's take a look at data points.

- Brazilian shipments to Saudi Arabia that once took 30 days could now take up to 60 days
- India's geographic advantages allow it to ship fruits, vegetables, sugar, grains, and meat in as little as a week
- Brazil, the important trade partner of the Arab world, lost ground to other exporters as well such as Turkey, the United States, France, and Argentina amid a disruption of traditional shipping routes.
- China's push to boost its own food inventories during the pandemic also diverted some of Brazil's trade with the Arabs.

So, even though India was just a week away, Brazil had a higher overall export market in the gulf nations. Something to think about how lack of modern farming practices and storage has hurt India.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://timesofindia.indiatimes.com/bus ... 006507.cms
India's GDP grows 8.4% in second quarter of FY22 vs 7.4% con ..
NEW DELHI: India's gross domestic product (GDP) for the second quarter grows 8.4%
Image
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image

Image

https://www.bloombergquint.com/opinion/ ... he-point-2
The Truth About Jobs In India Shamika Ravi
VinodTK
BRF Oldie
Posts: 2982
Joined: 18 Jun 2000 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by VinodTK »

Big push to design, make semiconductor chips in India gets Cabinet nod
The Union cabinet on Wednesday approved a budget of ₹76,000 crore for a production linked incentive (PLI) scheme for semiconductor and display board production in the country.
:
:
:
:
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image

https://swarajyamag.com/economy/unprece ... an-economy
Unprecedented Tax Revenue Generation Augurs Well For Indian Economy
Hopefully with the current cleanup in FY 2022, FY 2023 revenues bolstered by expected tax buoyancy and a massive reduction in one time expenditure in FY 2022, can be utilised for meeting accelerated infrastructure development and current expenditure demands (of FY 2023) instead of past liabilities. This augurs well for the Indian economy that can now shake off past burdens and focus on higher economic growth this decade.

The unprecedented revenue generation could also allow the government to rearrange the tax slabs and bring some relief to the long-suffering middle class. People have lost jobs and depleted savings during the pandemic, as many have incurred unexpected healthcare costs. They have struggled with barely any government relief but have still paid increased taxes. Some consideration by rearranging the tax slabs, reducing taxes, and simplifying the process will demonstrate the government’s recognition of their suffering.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

VinodTK wrote:Big push to design, make semiconductor chips in India gets Cabinet nod
The Union cabinet on Wednesday approved a budget of ₹76,000 crore for a production linked incentive (PLI) scheme for semiconductor and display board production in the country.
:
:
:
:
Union Minister for IT & Electronics
@AshwiniVaishnaw speaks to @ShereenBhan
on the ₹76,000 cr production linked scheme to boost semiconductor manufacturing in India. #PLI #semiconductor

https://twitter.com/CNBCTV18News/status ... 6230816776
Atmavik
BRFite
Posts: 1987
Joined: 24 Aug 2016 04:43

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Atmavik »

^^ very good interview. for a moment i forgot that he was a union minister.

it will be interesting to see where this semi ecosystem could come up.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Economic Times
@EconomicTimes
·
3h
Advance Tax collections for the year 2021-22 (till 3rd installment) stand at Rs 4,59,917.10 crores as on 16th December which shows a growth of approximately 53.50%: Ministry of Finance
nam
BRF Oldie
Posts: 4712
Joined: 05 Jan 2017 20:48

Re: Indian Economy News & Discussion - Nov 27 2017

Post by nam »

Read news that we are discussing FTA with Taiwan. 8)

The day Taiwan FTA happens and there is deal for electronics production by Taiwanese companies..there shall be peace in my soul. Taiwan, sk, Japanese companies and US market is what made China the 2 largest GDP.

We want to be in the same bandwagon. There is one difference between us and the Chinese story though. We dominate the IT/BPO outsourcing, which the Chinis could never grab despite trying hard..

Now we are coming for their golden goose. The electronics industry.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://www.businesstoday.in/latest/eco ... 2021-12-19
India, Taiwan eyeing FTA, look at setting up semiconductor manufacturing hub
The Indian government has already proposed a number of sites for the facility and one of Taiwan's leading semiconductor producers may implement the mega project.
India, Taiwan eyeing FTA, look at setting up semiconductor manufacturing hub
The Indian government has already proposed a number of sites for the facility and one of Taiwan's leading semiconductor producers may implement the mega project.
uddu
BRF Oldie
Posts: 2091
Joined: 15 Aug 2004 17:09

Re: Indian Economy News & Discussion - Nov 27 2017

Post by uddu »

Now the slogan need to change to India-Taiwan Bhai Bhai :lol:
yensoy
BRF Oldie
Posts: 2494
Joined: 29 May 2002 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

uddu wrote:Now the slogan need to change to India-Taiwan Bhai Bhai :lol:
Taiwan is very fickle. They are Chinese, they claim whatever PRC claims. Just a few days ago their representative at Biden's Democracy conference displayed a map purporting to represent Taiwan as "Free" which also showed India as "Repressed". Let's treat them as business partners only at this stage, and a good place for Chinese language training. Korea and Japan have, over the many decades, built a closer relationship with us with some level of strategic implications. Taiwan isn't even at step 1 in comparison.
uddu
BRF Oldie
Posts: 2091
Joined: 15 Aug 2004 17:09

Re: Indian Economy News & Discussion - Nov 27 2017

Post by uddu »

That illusion of equal equal to PRC waned recently and they are surviving on a daily basis. Regarding the map, we could excuse them for wanting to showcase their servitude to the U.S for survival. They have to showcase U.S provided map without modifying it to portray them being Democratic and hence the responsibility of U.S to save them from evil PRC. The censoring of them at that summit must have accelerated them wanting much stronger relationship with India. As long as its beneficial to us why say no.
JTull
BRF Oldie
Posts: 3118
Joined: 18 Jul 2001 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

https://www.economist.com/finance-and-e ... rom-swift

Not Indian news but does India have a domestic equivalent of SWIFT for inter-bank business? Russia has SPFS and China has CIPS.
yensoy
BRF Oldie
Posts: 2494
Joined: 29 May 2002 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

uddu wrote:That illusion of equal equal to PRC waned recently and they are surviving on a daily basis. Regarding the map, we could excuse them... As long as its beneficial to us why say no.
Sure, as business partners. Let them take a step and invest in India, like the Japanese and Koreans did. There is a lot of scope for industry which are not their "crown jewels" but important enough for us to benefit while providing a second source, such as IC packaging and system assembly, besides IC design itself. A Taiwanese company's captive IC design center would be great to have in India.
Dilbu
BRF Oldie
Posts: 8271
Joined: 07 Nov 2007 22:53
Location: Deep in the badlands of BRFATA

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Dilbu »

JTull wrote:Not Indian news but does India have a domestic equivalent of SWIFT for inter-bank business? Russia has SPFS and China has CIPS.
Need an Indian alternative to SWIFT payment system: Parliamentary committee
India should develop an indigenous alternative to the SWIFT payment system to better protect privacy of domestic financial data and boost the economy, the Parliamentary committee that is looking into the Personal Data Protection Bill, 2019 has suggested. The panel has recommended that an alternative indigenous financial system be developed on the lines of similar systems elsewhere such as Ripple (USA), INSTEX (EU), etc.

“The Committee observes that data protection in the financial sector is a matter of genuine concern worldwide, particularly when through the SWIFT network, privacy has been compromised widely. Indian citizens are engaged in huge cross-border payments using the same network,” the panel said in its report, which ET has reviewed.
chetak
BRF Oldie
Posts: 32277
Joined: 16 May 2008 12:00

Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

uddu wrote:Now the slogan need to change to India-Taiwan Bhai Bhai :lol:
just as long as we don't forget what this culture did with the previous manifestation of bhai bhai.


learn from what the beedis are doing to us.
kit
BRF Oldie
Posts: 6278
Joined: 13 Jul 2006 18:16

Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

please feel free to post to other discussions

important read

https://oilprice.com/Energy/Energy-Gene ... he-US.html

Until China dramatically upped the tempo of this OBOR-related policy – at around the same time as the U.S. signalled its lack of interest in continuing its own large-scale activities in the Middle East through its withdrawal from the Iran ‘nuclear deal’ and its withdrawal from much of Syria – India had stuck to a policy of trying to contain China. With the announcement in August 2020 of the US-brokered Israel-UAE ‘normalisation deal’ it appeared that a new corridor of co-operation was being developed from the U.S. (and Israel), through the UAE (and Kuwait, Bahrain and in part Saudi Arabia) through to India. As much of China’s current turbo-driven expansion into the Middle East is predicated in the first instance on the energy sector, the starting point for the build-out of the U.S.-Israel-UAE-India also appeared to be the energy sector. This made perfect sense as the oil industry in particular involves the movement of huge amounts of money, ships, equipment, technology and personnel in often disguised ways – confidential bank accounts, intelligence and military personnel who can pass as high-level oil technicians or security people, ships that can disappear through the flick of an AIS switch and so on – that other industries cannot match for activities that countries wish to conduct quietly. Putin also knows this – better than anyone – and these 28 deals with India are unlikely to be the end of his plans for India.
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Banks recovered ₹13,109 cr from asset sale of Vijay Mallya, Nirav Modi: Finance Minister Nirmala Sitharaman

https://www.livemint.com/economy/banks- ... 82782.html
₹ 5.49 lakh crore has been recovered through resolution of bad loans in last seven years.

1947-2008
Bank Loans granted : 18 lakh crore

2008 - 2014
Bank Loans granted : 34 lakh crore
VinodTK
BRF Oldie
Posts: 2982
Joined: 18 Jun 2000 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by VinodTK »

India Is on a Tear

From: Kiplinger
"Adventures do occur, but not punctually," writes E.M. Forster in A Passage to India. In other words, exciting things happen in India, but a little patience is required. In recent years, however, it seems events have sped up in the Asian subcontinent, and that's fueling a stock market rally.

Government reforms initiated a few years ago have finally started to pay off. The changes, plus a rebound in economic activity, have lifted India's stocks.


The MSCI India Index, which tracks mostly large companies, climbed 32.6% over the past 12 months, its best showing in four years and well ahead of the 0.9% rise in the developing country-stock index, MSCI Emerging Markets. Indian small-company stocks gained even more: 53.5% (returns are through Dec. 3).

The rally is far from over, say analysts and fund managers who invest in the country. Volatility is to be expected, of course; the new COVID-19 variant, for instance, is a risk. But many short- and long-term factors could propel growth in India for years to come. We'll explain the key drivers and point you toward good funds that offer the best exposure.


Low Rates Spark a Cyclical Rebound

Interest rates have been falling, thanks in part to cuts geared to stimulate the pandemic-stricken economy. Short-term lending rates, currently 3.8%, are down from more than 8% in 2012. That has led to a burst of economic activity.

"After abysmal conditions over the past 10 years, real estate as a sector has begun to do well," says Peeyush Mittal, manager of Matthews India fund.

Low rates have pushed many Indian consumers, typically big savers, to invest in stocks, too. Individual-investor participation in the stock market has nearly doubled in the past 12 to 18 months, and that's also driving gains, says Mittal.

On top of that, Indian prime min­ister Narendra Modi has promised to spend $1.4 trillion on infrastructure, a plan that will create jobs and stimulate economic activity for the next 12 to 18 months, says Mittal.


All told, India's economy, the fifth-biggest in the world by gross domestic product, is growing fast. GDP increased more than 8% in the 2021 fiscal year (the country's fiscal year ends in March), and the World Bank projects 8.3% growth in 2022 and 7.5% in 2023.

"We believe that India is likely to be the fastest-growing major economy in the world for the next decade," says Michael Kass, manager of Baron Emerging Markets. "It is the most exciting jurisdiction globally."

A Modern India

Modi's expansive government reforms and initiatives are a part of the excitement around India. Although they weren't always popular, and they were somewhat painful to implement, they have upended the traditional ways of doing business for the better, and that's helping to usher in a new era in the country.

"We're finally seeing a tailwind emerge in India from government reforms over the past five years," says Ajay Krishnan, a Wasatch fund manager.

India has made significant progress in increasing the availability of cheap internet, as well as broad financial services, providing access to more citizens than ever before. Those moves are happening in step with others that have created a more formal, systematized way of doing business. All told, "the digitization, financialization and formali­zation of India," Krishnan says, has created "a flywheel" that's moving India into the 21st century.

Indeed, India is more digitized than some developed countries. Cheap broadband is available in even remote areas of the country. Previously unconnected Indians can now get mobile phones, surf the web and use smartphone apps.

Even more important to India's digitization is Aadhaar, the government's biometric identification data system. A fingerprint or retinal scan allows access to a photo and basic personal details tied to a 12-digit identification number. The system enables anyone registered – and more than 90% of all adult citizens are – to easily open bank and mobile-phone accounts, and then to make and receive payments via smartphones.

That has been crucial to the country's financial modernization, says Krishnan. Millions of previously unbanked citizens can now participate properly in the country's economy, free of fear that their paycheck might slip through the fingers of a corrupt middleman. It has launched a real-time payment system, as well as a slew of tech start-ups, according to Krishnan. "India has made huge leaps that have gone unnoticed in the rest of the world," he says.

Finally, a new nationwide flat tax on goods and services – which has simplified a messy, complex tax code – has forced many businesses to come out of the shadows and operate legally. That's part of the formalization of business in India. Government tax receipts are up 25% year-over-year for the period ending in October, says Matthews's Mittal.

India stands to benefit from the rest of the world's efforts to be less dependent on China, too. "India is where businesses are going," says Baron's Kass. The subcontinent boasts the world's youngest population, with a median age of 31. They're highly educated and job-ready, too. "This will enhance the country's growth potential for the next four to five years," says Kass.
:
:
:
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

VinodTK wrote:India Is on a Tear

From: Kiplinger
Just another 2-3 years of focussed growth. All the Dumbo western dogs can be contained and they will be wagging their tails and eating the crap of BJP/RSS. They know only one thing ... ROI and making money
vijayk
BRF Oldie
Posts: 8785
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image
Ashokk
BRFite
Posts: 1118
Joined: 11 Aug 2016 06:14

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ashokk »

India displaces UK to be 3rd top country hosting unicorns
NEW DELHI: With 54 unicorns in total, India has displaced the United Kingdom (UK) to bag the third top spot in list of countries with most number of such companies, a report released by Hurun Research Institute showed on Wednesday.
Last year, India was ranked at the fourth spot. Unicorns are privately held start up companies having a valuation of more than $1 billion. The start-boom helped it to add 33 unicorns during the entire year. This is higher than UK which added 14 such companies during the year. In addition to the domestic companies, there are 65 unicorns founded by Indians abroad, mainly in Silicon Valley, the report noted. In total, Indians founded 119 unicorns of which 54 are in India and 65 of them are abroad.
kit
BRF Oldie
Posts: 6278
Joined: 13 Jul 2006 18:16

Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

https://www.bloomberg.com/opinion/artic ... bangladesh

Bangladesh’s growth rests on three pillars: exports, social progress and fiscal prudence. Between 2011 and 2019, Bangladesh’s exports grew at 8.6% every year, compared to the world average of 0.4%. The success is largely due to the country’s relentless focus on products, such as apparel, in which it possesses a comparative advantage.

Meanwhile, the share of Bangladeshi women in the labor force has consistently grown, unlike in India and Pakistan, where it has decreased. And Bangladesh has maintained a public debt-to-GDP ratio between 30% and 40%. India and Pakistan will both emerge from the pandemic with public debt close to 90% of GDP. Fiscal restraint has allowed Bangladesh’s private sector to borrow and invest.
Bart S
BRF Oldie
Posts: 2938
Joined: 15 Aug 2016 00:03

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Bart S »

Name of the author is by itself enough to tell you that it is a disingenuous article, at least as far as India is concerned, putting us in the same basket as Pakistan and overstating Bangladesh's advantage (which largely happened due to the pandemic and lockdowns). Nevertheless, Bangladesh has done a lot right and a more apt comparison would be to individual Indian states than to India as a whole.
vimal
BRFite
Posts: 1904
Joined: 27 Jul 2017 10:32

Re: Indian Economy News & Discussion - Nov 27 2017

Post by vimal »

Seems like another Apple factory strike at FoxConn. 150 workers sick due to food poisoning?
Another Sterlite in the making.
Foxconn plant near Chennai to remain shut this week after protests over food poisoning incident
https://www.hindustantimes.com/business ... 95443.html
Yagnasri
BRF Oldie
Posts: 10390
Joined: 29 May 2007 18:03

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Yagnasri »

Possible. But also our business people also useless fellows when it comes things like cleanliness etc. Also add local political leaders who expect all the businesses to pay the extortion money regularly and obey them in all aspects. One of the most problematic thing for new industries/green field unit is the agitations by local political leaders.
yogi
BRFite -Trainee
Posts: 94
Joined: 18 Jun 2008 02:25

Re: Indian Economy News & Discussion - Nov 27 2017

Post by yogi »



What an amazing plan and vision.
shaun
BRFite
Posts: 1385
Joined: 11 Aug 2016 06:14

Re: Indian Economy News & Discussion - Nov 27 2017

Post by shaun »

Anyone care to explain how INR have become worst performing in Asia when our western neighbor currency have depreciated some 30% ?
Bart S
BRF Oldie
Posts: 2938
Joined: 15 Aug 2016 00:03

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Bart S »

shaun wrote:Anyone care to explain how INR have become worst performing in Asia when our western neighbor currency have depreciated some 30% ?
Same way that Pakistan sacrificed 70,000 lives and incurred a loss of $250 billion during the war on terror, i.e. manufactured BS "news" that is then picked up and amplified by dumb social media/youtuber folks.
Vamsee
BRFite
Posts: 685
Joined: 16 Mar 2001 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vamsee »

^^^^
It did not. From what I read on twitter, it seems some idiot tweeted false info on twitter and cong ecosystem without verifying started RT-ing and amplified it. India is one of the most stable in the last one year losing ~2.5% against USD.

--Vamsee
Bart S
BRF Oldie
Posts: 2938
Joined: 15 Aug 2016 00:03

Re: Indian Economy News & Discussion - Nov 27 2017

Post by Bart S »

Yagnasri wrote:Possible. But also our business people also useless fellows when it comes things like cleanliness etc. Also add local political leaders who expect all the businesses to pay the extortion money regularly and obey them in all aspects. One of the most problematic thing for new industries/green field unit is the agitations by local political leaders.
Having seen a bit of that manufacturing segment in Chennai, one thing that I noticed is that for that segment of worker food/canteen is extremely important, they can do without/compromise on a lot of other stuff but tempers flare if the food arrangements are not adequate in quality, timing or quantity. Hard to understand if one is an office worker, but these folks are bussed into the industrial suburbs outside of Chennai typically with a 2-hour bus journey each way, are stuck in the facility for 9-10 hours with no alternate sources of food and despite working in electronics assembly (and not as taxing as other types of factories in terms of manual labor) the nature of their work is tedious and tiring. So while there are no shortage of commie/naxal troublemakers it should probably not be dismissed a some kind of conspiracy as this kind of incident if true really upsets factory workers.
Post Reply