Indian Economy News & Discussion - Nov 27 2017

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

Post by vijayk »

https://www.thehindu.com/business/Indus ... 667971.ece
A quiet technocrat scaling up Indian manufacturing
Dr. Pawan Goenka is driving an unusual public-private partnership, informing and helping fine tune policy changes.
Before the pandemic started, the major players in India’s room air conditioner market had no plans to invest in larger manufacturing operations, relying instead on convenient imports for over 80% of AC parts.

Over the past week, despite COVID-19 denting AC sales, global brands like Hitachi, Daikin and Panasonic, as well as domestic majors like Voltas and Blue Star, have announced investments of about ₹5,000 crore to reverse the reliance on imported AC parts from 80% to 20% over the next five years.
For instance, when domestic and global AC players conveyed that India’s ₹25,000 crore AC market didn’t necessitate larger manufacturing investments to replace established import supply chains, Dr. Goenka tapped his deal-making skills to arrive at an attractive formulation.

Recalling the challenge, he said: “An Indian player may not have technology for a compressor, so they are forced to import. An MNC has technology, but doesn’t want to make it in India, given the volumes.”

His solution — convince the MNC to make more compressors in India by getting the domestic player to buy from them instead of importing — thus adding up volumes that justify fresh investments and repeat this idea for various AC components with both domestic and foreign players stepping to invest for each
Dr. Goenka heads a group that informally began working soon after the national lockdown was announced in 2020, following a meeting between industry captains and Commerce and Industry Minister Piyush Goyal.
Noting that many of them had more time on their hands due to the lockdown, Mr Goyal had suggested CEOs put on their thinking hats and come up with ideas to tap the global sentiment against China and strengthen Indian manufacturing.

To his surprise, the minister asked Goenka to drive this introspection, that was formalised subsequently by his ministry as the Steering Committee for Local Value Addition, Manufacturing and Exports or SCALE. The group is now working on such ideas for 17 sectors — from toys, textiles, furniture and e-cycles to drones, and even fisheries.
“Large scale industrial units will not produce this outcome. They employ less people per unit of capital, and per unit of land. They also have larger negative impacts on the environment. New technologies with new business models make small units viable, as well as provide solutions to problems of inclusion and environmental sustainability,” he said, stressing this is why the NMIZ never took off.

In his first innings, Prime Minister Narendra Modi had tasked an industry chamber to come up with policy prescriptions for what he said was a central challenge for the Indian economy — scaling up income and employment levels of the people. Mr. Maira, who was associated with the exercise, said larger players in industry objected to the recommendations which were based on scenarios that encouraged smaller units along with larger ones to create a more vibrant manufacturing ecosystem.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

China stole from MNCs to build their own., now India is giving them equal and open access with rewards, what more does the foreign MNCs want ?.. an equal and a booming consumer market of a billion people., if that is not an THE opportunity for EVERY MNC out there what is ?!
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://swarajyamag.com/culture/ayodhya ... n-progress
Ayodhya 2.0: A Clean Up Task In Progress
Three core aspects on which work is happening, as he elucidated, are

1) Clearing encroachments and creating a minimalistic design around these kunds where people can visit and spend time at

2) Water quality improvement

3) Community engagement

To begin with community engagement, Ghosh explains how a Facebook hashtag campaign took the town and its youth by storm and received a massive response, to the extent that more than 180 water bodies were 'discovered' by citizens when the quest was for just the 108 kunds.

"The idea was to engage them right from the beginning and not after the process is complete. And since we weren't dependent on govt funds, but CSR ones, we had a relatively free hand and could go ahead with the creation of a model, started the hashtag campaign and though it took some time to catch up, the involvement was unpredicted". The responses that poured in ranged from ponds spotted to encroachment details to leaking taps to be filled to landfills.
"But the tasks like door-to-door waste collection has been in place in some areas and we are looking forward to extend them. Recently, a tender has also been issued for mechanised sweeping, road cleaning and door to door, and mechanised toilet cleaning. Also, currently we have only 29 km of road suitable for mechanised sweeping, since we don't have such big roads at present."

"A solid waste management plant has also been planned, with the land finalised at Sohawal tehsil. The DPR is now at the headquarters in Lucknow for verification, and we shall soon see the plant being put in place," adds Shukla.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

vijayk wrote:https://www.thehindu.com/business/Indus ... 667971.ece
A quiet technocrat scaling up Indian manufacturing
For instance, when domestic and global AC players conveyed that India’s ₹25,000 crore AC market didn’t necessitate larger manufacturing investments to replace established import supply chains, Dr. Goenka tapped his deal-making skills to arrive at an attractive formulation.
Recalling the challenge, he said: “An Indian player may not have technology for a compressor, so they are forced to import. An MNC has technology, but doesn’t want to make it in India, given the volumes.”
His solution — convince the MNC to make more compressors in India by getting the domestic player to buy from them instead of importing — thus adding up volumes that justify fresh investments and repeat this idea for various AC components with both domestic and foreign players stepping to invest for each
One place where Chinese do very well is in Standardization. In the example above, the entire market would rely on maybe 5 standard compressor specifications based say on power and dimensions. Any number of compressor vendors will be encouraged to set up units to manufacture compressors provided they build to the standard. They can distinguish themselves on quality, efficiency, prices, delivery schedules, extra features etc.

Further, they will require all Chinese A/Cs to use standardized internal components such as compressors (which could be cloaked under environmental policy, for instance). Their standard design will not be available from foreign vendors. As a result, everyone has to purchase homegrown compressors but they are not stuck with one vendor, one sub-standard or overpriced product, rather can choose from a variety of providers.

This also saves A/C mfrs from worrying about design details. They can focus on the external look & feel, extra features, gizmos, lights, integration with apps and marketing.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

kit wrote:China stole from MNCs to build their own., now India is giving them equal and open access with rewards, what more does the foreign MNCs want ?.. an equal and a booming consumer market of a billion people., if that is not an THE opportunity for EVERY MNC out there what is ?!
Huge subsidies (land, electricity, taxes, PLI type kickbacks), developed supply chain and unflinching productivity.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

You forgot the main thing - Flexible Labor Laws and no labor union bull shit.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

Vips wrote:You forgot the main thing - Flexible Labor Laws and no labor union bull shit.
"unflinching productivity" :-o
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

Image

India's answer to the chinese "silk road"

..the map is not wholly accurate btw

An ancient trade route now coming online !!.. connecting India to Greece as the gateway to Europe
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Notice how India outpaces China in digital payments after two key events: demonetization and the advent of affordable 4G. Notice meteoric rise. Wonderful visual.
via@AstroAmigo


WATCH VIDEO

no wonder that many arrogant large ameriki companies are quickly falling in line with respect to data localization, data protection and in country data processing of Indian data etc

These companies are generally used to pushing around governments in the countries in which they "operate"

mastercard which was recently booted out for repeated noncompliance to Indian regulations has gone whining to the ameriki govt and some low level ameriki sarkari babooze has duly made his "displeasure" known to the Govt of India.

the pandemic has made digital payments a new normal in many parts of India with many small time vendors also accepting it
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

There is no way that this is a mere coincidence, especially not after the very critical infosys article


RSS-linked weekly Panchjanya terms Amazon as 'East India Company 2.0'

Sep 26, 2021,

Synopsis

Hitting out at Amazon's video platform, Prime Video, the article says it has been releasing movies and television series that are against the Indian culture. It also alleges that Amazon has established many proxy entities and "there are reports that it has distributed crores in bribes for policies in its favour


E-commerce major Amazon has been termed as "East India Company 2.0" by the RSS-linked weekly, Panchjanya, which has also alleged that the firm has paid crores of rupees in bribes for favourable government policies.

In its latest edition, which will hit the stands on October 3, Panchjanya has carried a cover story that is highly critical of Amazon.

"Whatever the East India Company did in the 18th century to capture India, the same is visible in the activities of Amazon," the article titled "East India Company 2.0" reads.

Claiming that Amazon wants to establish its monopoly in the Indian market, it says, "For doing so, it has started taking initiatives for seizing the economic, political and personal freedom of the Indian citizens."

Hitting out at Amazon's video platform, Prime Video, the article says it has been releasing movies and television series that are against the Indian culture.

It also alleges that Amazon has established many proxy entities and "there are reports that it has distributed crores in bribes for policies in its favour".

Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).

There have been reports that the US e-commerce giant is investigating alleged bribes paid by its legal representatives in India and it spent a staggering Rs 8,546 crore or USD 1.2 billion in legal expenses for maintaining a presence in the country during 2018-20.

The main opposition party, Congress, has demanded a Supreme Court-monitored probe into the alleged bribery case involving Amazon.

Earlier, RSS-affiliate Swadeshi Jagaran Manch had also demanded action against e-commerce players like Amazon for circumventing laws detrimental to the interests of traders and indulging in unethical business practices.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

https://www.moneycontrol.com/news/opini ... 22981.html

lthough India has a niche capability in chip designs, its role in the global semiconductor supply chain is unnoticeable. The uncertainty of increasing border tensions and an aggressive China in South Asia can be a destabilising factor for India’s economy in the long run. Unless India diversifies its dependence of these crucial products, it would be disastrous not only on the economic front, but also in other strategic sectors. Therefore, engaging with Taiwanese semiconductor firms is a welcome move.

The TSMC, one of the world’s largest semiconductor manufacturer, investing together with Indian partners would help India harness its resources and capabilities to become self-sufficient, if not a net exporter.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

A lot of chip design happens in India admittedly for foreign companies. We have a huge pool of talent in this space. But manufacturing is close to zero. Fabs are expensive and need huge resources besides often operating on razor thin margins which need government subsidy. Fabs also don't provide much employment compared to their investment.

Somewhere between chip design and fabs is a high growth/high expertise area of materials and manufacturing processes - we have some expertise here within the borders of India but not a whole lot, again mostly working for western companies. This is a strategic area and generally tends to stay close to the HQ.

Fabs must be kept out of reach of the long hands of the Chinese, and so should materials/process. Once a chip is designed, its layout can be shipped across the world for manufacturing by any contract fab. Do we need fabs in India? Do we need Indian owned fabs, or foreign owned/operated fabs located in India? How do fabs help us strategically? Will our fabs produce low-end silicon devices? Will they produce flash memory (which is a huge market) or DRAM? Will they produce processors? Are we looking beyond silicon (for military devices we should be looking at GaAs and GaN)? The case is not very clear, but every step will help bring expertise and equipment within the country even if under a foreign (but not Chinese) flag.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Pratyush »

A nice set of questions. I watched the Asianometry podcast the day it went live. I think that Indian market is too large for us to be dependent on imports of chips.

We have to develop full spectrum capacities in this field. So that in the next 30 to 40 years all of our silicon requirements are met through domestic sources.

This can either be through 100 domestic companies. Or with a close integration with specialist firms.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by nam »

There is political dimension to getting a fab in India. The Taiwanese would want India to take some of the heat from their front to the western front. Taiwanese have the money & the tech. India wants the tech and investment.

A deal can be made. We deploy our forces and force the PLA to deploy on LAC. In return Taiwan "pays" us in form of reducing our dependency on Chini electronics and chips.

Taiwan knows it is only India, which can divert the Chini resources. US is a "guest", while Japan is on the same sea shore. India can open the second front. Moreover we can also open our private companies to Taiwan to mass produce Taiwanese weapon.

I would even go so far to say, we should rent one of the islands in A&N to store their fuel, food and open up backup locations for their companies. need to do this before the Aussies offer their part of the island.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by williams »

Pratyush wrote:A nice set of questions. I watched the Asianometry podcast the day it went live. I think that Indian market is too large for us to be dependent on imports of chips.

We have to develop full spectrum capacities in this field. So that in the next 30 to 40 years all of our silicon requirements are met through domestic sources.

This can either be through 100 domestic companies. Or with a close integration with specialist firms.
The incubation project SHAKTI in IIT Chennai have developed some industrial grade RISC-V ISA family of processors. It has a very promising open source design. We need to find more investors to take that to the next level.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Prasad »

Electronics imports equal Oil imports at the moment. I think that single fact answers all your questions.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

Prasad wrote:Electronics imports equal Oil imports at the moment. I think that single fact answers all your questions.
One fab isn't going to fix all that. There is a huge diversity in the kinds of "electronics" imported. Solar cells need different technologies (and there are different types of solar cells), processors are different, high power devices very different. We all want to reduce imports and foreign dependence but that's not the way this works - even the most "independent" of countries - US, China, Korea, Japan - import a large quantity of electronics (mostly from each other) because their strengths are in certain areas and sometimes is just makes more sense to import A, B and C while exporting D and E in large quantities.

When we say we will meet our requirements through domestic firms, this is unreal. As part of the global economy we need our cards, and ensure we are essential to the world's supply chain so that we can get our inputs from others. This is the case with our pharma industry - heavily dependent on foreign inputs but also indispensable to the world's supply of drugs and vaccines.

Currently our indispensability extends only to highly qualified engineers working in chip design space. That must expand to manufacturing, so I guess we can start with one fab :D
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Prasad »

A fab is like the actor you see on screen. But behind that one screen you have everyone from DoP to sound guy to director all the way to spot boy and the driver. That is what you bring. A fab might employ at the max 1500-2000 people. But you will then create the entire ecosystem all the way to a product which will create more jobs. That is what bringing a fab does. Not just a wafer of Si with circuits on it.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by arshyam »

Worth the long read:

Full Interview: Union Finance Minister Nirmala Sitharaman On GST, Taxation, Privatisation, Infrastructure Push And Reforms - Swarajya

I particularly liked the philosophical explanation between empowerment and entitlement.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

yensoy wrote:A lot of chip design happens in India admittedly for foreign companies. We have a huge pool of talent in this space. But manufacturing is close to zero. Fabs are expensive and need huge resources besides often operating on razor thin margins which need government subsidy. Fabs also don't provide much employment compared to their investment.

Somewhere between chip design and fabs is a high growth/high expertise area of materials and manufacturing processes - we have some expertise here within the borders of India but not a whole lot, again mostly working for western companies. This is a strategic area and generally tends to stay close to the HQ.

Fabs must be kept out of reach of the long hands of the Chinese, and so should materials/process. Once a chip is designed, its layout can be shipped across the world for manufacturing by any contract fab. Do we need fabs in India? Do we need Indian owned fabs, or foreign owned/operated fabs located in India? How do fabs help us strategically? Will our fabs produce low-end silicon devices? Will they produce flash memory (which is a huge market) or DRAM? Will they produce processors? Are we looking beyond silicon (for military devices we should be looking at GaAs and GaN)? The case is not very clear, but every step will help bring expertise and equipment within the country even if under a foreign (but not Chinese) flag.
chip design and chip manufacture are as different as chalk and cheese.

chip manufacturing is a horrendously expensive facility needing almost unlimited supplies of fresh water and only a few countries have the technical know how

It is like jet engine tech and is among the crown jewels of a country's industrial prowess.

no one is going to part with it so easily.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

^^^^ yes exactly the point. And chip manufacturing know-how doesn't come just because you have a fab in the country. Case in point - Malaysia. They make some chips but aren't exactly the electronics powerhouse. Besides, even "chip manufacturing" means different things to different people. There is the fab which imprints circuits on a wafer (and yes there is the process of growing the silicon ingot and slicing into wafers). Then there is the downstream activity of cutting the wafer, packaging and testing to actually make the chips. That is relatively easy to get into and doesn't need huge amounts of water and other resources.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

arshyam wrote:Worth the long read:

Full Interview: Union Finance Minister Nirmala Sitharaman On GST, Taxation, Privatisation, Infrastructure Push And Reforms - Swarajya

I particularly liked the philosophical explanation between empowerment and entitlement.
NS will be remembered as the FM who set India on a resolute path to sarva jana samruddhi. Like a Durga she seems to be wielding change on all fronts with ten arms and crushing the demon of institutionalised corruption while riding the tiger of an apathetic bureaucracy which wants to outlast Govts.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

Exports grow 21% in September to hit $33.44 billion

September: $33.44B
August: $33.28B
July: $35.17B
Total: $101.89 billion

Fiscal year to date (Apr-Sep): $197.29 billion, on track to reach the $400 billion goal for the full FY.

This is the first ever quarter with over $100 billion in exports. The last two quarters - $95.4B and $101.89B are the two best ever by a long distance. The third best is the Jan-Mar 2021 quarter which was the trailing quarter of the prior FY, with $89.83 billion.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by VenkataS »

Suraj - Is this growth in exports sustainable and a result of infrastructural improvements over the last few years or is it because of a post pandemic boost.

It would be great if we can sustain a 20% growth in exports over the long term.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

What is a 'post pandemic boost' ? Are you suggesting this is just a reversion to the mean ? To state data for the comment in the previous post, here's the first half export figure the past five fiscal years:

H1 2021-22: $197.29B
H1 2020-21: $125.24B
H1 2019-20: $159.41B
H1 2018-19: $159.56B
H1 2017-18: $162.62B

It's not a reversion to the norm - it reflects a ~24% gain over pre-pandemic numbers, and reflects development of policies like PLI driving exports. Here's where India stood in the last pre-pandemic year among top exporting countries:
Image
https://en.wikipedia.org/wiki/List_of_c ... by_exports
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Suraj wrote:Exports grow 21% in September to hit $33.44 billion

September: $33.44B
August: $33.28B
July: $35.17B
Total: $101.89 billion

Fiscal year to date (Apr-Sep): $197.29 billion, on track to reach the $400 billion goal for the full FY.

This is the first ever quarter with over $100 billion in exports. The last two quarters - $95.4B and $101.89B are the two best ever by a long distance. The third best is the Jan-Mar 2021 quarter which was the trailing quarter of the prior FY, with $89.83 billion.
Image

How come imports went up so much from Sept 19

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

Post by Vips »

India's quarterly exports cross $100 billion-mark for the first time.
India reported $101.89 billion in exports in the quarter ending September, the ministry of commerce and industry said on Saturday. This is the first time that Indian exports have crossed $100 billion mark.

In September alone, the exports stood at $33.44 billion, according to government data. In August, the figure was $33.28 billion. The highest export amount in the second quarter was recorded in the month of July ($35.17 billion).

The total has now reached $101.89 billion, the data further showed.

In the first six months of the current financial year, exports from India touched $197 billion. The government has set a target of $400 billion for the financial year.
Hope to very soon post or read a news report of India's monthly exports crossing the $100 billion mark. When do Suraj or other BR gurus estimate it will be?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

$100B a month is $1.2 trillion total exports, which should be around $850B merchandise + $350B services, or maybe $800B merchandise + $400B services.

The $100B number here is just merchandise exports in Q2, with H1 (Q1+Q2) being $197B. Total exports for H1 2021-22 are $310 billion, which gives you a monthly figure of ~$52 billion . To double that, maybe 5-6 years of continuous growth in the low-mid teen percentage. At that point total exports would be >$1 trillion.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by dsreedhar »

If we consider USD inflation from 2017 to 2021, exports from H1 2017-18: $162.62B would translate to $181 B. Compare that to today's figure would be 10% real growth over 4 yrs which may be equivalent to about 2% annually. Covid may have derailed India's growth prospects. India should strive for atleast 5+% real growth (after inflation) annually and sustain for a few years.
Correct me if I am mistaken.

https://www.usinflationcalculator.com/
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vamsee »

^^^^
Vips garu,

You are thinking about only $100B per months. Piyush Goyal ji is thinking about $2Tr annual exports ($1Tr goods + $1Tr services) :twisted: :twisted:

Goods, services exports from India should touch $1 trillion each: Piyush Goyal
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by kit »

Where Geopolitics and economies collide

https://foreignpolicy.com/2021/02/16/se ... mpetition/

1] Semiconductors represent the linchpin for U.S. and China’s mutually dependent technological ambitions. Semiconductors are a critical technological vulnerability for both China and the United States, which rely on each other as well as Taiwan for cutting-edge semiconductor devices.

2]Despite massive investment, China is highly unlikely to achieve independent semiconductor manufacturing capabilities in the next five to 10 years. Chinese companies are unable to compete against top-tier firms because of limited access to semiconductor manufacturing equipment (SME) and software, and their overall lack of industry knowledge hinders the development of a self-sufficient supply chain.

3]Taiwan is set to become the center of U.S.-China tensions. Given the country’s central role in semiconductor manufacturing and technology supply chains, China will likely leverage its economic influence through trade restrictions, talent recruitment, and cyber to attack key companies in order to obtain core semiconductor intellectual property (IP) needed to bolster its domestic industry.

4]Unilateral restrictions fostering distrust among companies and country governments risk economic decoupling. Unilateral economic measures imposed by the United States on segments of the supply chain, notably manufacturers such as TSMC, have fostered concern among private and public actors on the impact of action by U.S. leaders on global supply chains and corporate competitiveness. Recognizing critical bottlenecks and vulnerabilities, some companies are evaluating new production models, diversifying investments and suppliers to circumvent American economic policies, which could undermine U.S. primacy in the industry.

5]Collaboration between the Biden administration and American corporations will be key to balancing national security and commercial interests. Given that multilateral frameworks on semiconductor regulation do not include Taiwan or China, the Biden administration could bolster existing forums for enhanced American-Taiwanese economic relations through the Economic Prosperity Partnership Dialogue (EPP) and Sino-American relations through the Strategic Economic Dialogue. Evaluation of current tax codes and permitting processes under the Federal Clean Air Act, which now disincentivizes companies from investing in U.S.-based fabrication plants, will also be important to attracting investment and strengthening U.S. competitiveness in the sector.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Kaivalya »

https://indianexpress.com/article/opini ... n-7550159/
If the actual number of farmers deriving a significant share of their income from agriculture per se is only 40 million — as against the official, also popular, consensus range of 100-150 million — a host of policy implications follow.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by rsingh »

FT is warning about impending energy crisis in India. Only 3 days stock of coal stock is left for power station. It is all due to Modis self reliance drive. Wants bad bad modi to start imports. Is there any truth or this article was paid by Australians?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ambar »

It is true, less yield & less supply have left several power plants with less than 3 days of coal requirement in stock. The delayed monsoon and an unprecedented demand for power thanks to the backed up factory orders and increased consumer power utilization on ACs/TVs/other home appliances are all adding to the shortage.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Srutayus »

The coal and energy shortage is global and has been adding to the growth in coal prices. There are much larger macro issues, domestic but largely international, that are behind this.
To quote from the article:
However, coal from Indonesia, one of India’s major suppliers, rose from $60/ton in March to $200/ton in September, discouraging imports.
The FT threw in their mandatory anti-autarky spiel, we know who their primary readers are, and Modi bashing by vaguely adding a line about his promotion of self-sufficiency. Ironically, the rationale for boosting domestic supplies is well borne out in this situation.
Kaivalya
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Kaivalya »

Srutayus wrote:The coal and energy shortage is global and has been adding to the growth in coal prices. There are much larger macro issues, domestic but largely international, that are behind this.
To quote from the article:
However, coal from Indonesia, one of India’s major suppliers, rose from $60/ton in March to $200/ton in September, discouraging imports.
The FT threw in their mandatory anti-autarky spiel, we know who their primary readers are, and Modi bashing by vaguely adding a line about his promotion of self-sufficiency. Ironically, the rationale for boosting domestic supplies is well borne out in this situation.
Looks like we have been buying up coal and much as we can:

https://www.bloomberg.com/news/articles ... nese-ports

Maybe it is just the growing economy...
bharathp
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by bharathp »

this is also to reduce Aus dependency on china. allows us to also gain australia's coal at cheaper prices.
Ambar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Ambar »

Forget coal and watch the oil prices which is now at a 7 year high. GoI has been adjusting the excise duties upwards to keep the retail price the same even when the global crude oil price was going down. However now that the crude oil price is soaring, the cost of retail fuel is hitting new highs denting everything from consumer spending to food prices to cost of manufactured goods. Oil prices are predicted to go to $100/barrel soon, the price per litre of petrol is already Rs 110 (up from Rs78 just 15 months ago) , I sure hope the FM has thought of a contingency plan .
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