Indian Economy News & Discussion - Nov 27 2017

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

Post by vimal »

Please no more Adani crap. Let’s not make Adani is India , India is Adani.
Also, no more twitter sourced images without textual context. These images will eventually rot and leave a lot of blank pages with no context.
Last edited by vimal on 05 Feb 2023 09:40, edited 1 time in total.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

+1
Prem Kumar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Prem Kumar »

1 day later, the coverage has increased by 69000 homes! Assuming this is a constant rate, they will hit 70% in the next 365 days.

Quite commendable, but won't hit 100% before 2024 elections.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

PAID

https://economictimes.indiatimes.com/ma ... aign=cppst
Gautam Adani looks to prepay up to Rs 8,000 crore-loans against shares in 45 days to soothe investor nerves

https://twitter.com/rajivmehta19/status ... 9317760002

#Adani promoters prepay $1.1 billion to release pledged shares

in light of recent market volatility and promoters’ commitment to reduce the overall promoter leverage backed by Adani listed company shares
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

Prem Kumar wrote:1 day later, the coverage has increased by 69000 homes! Assuming this is a constant rate, they will hit 70% in the next 365 days.

Quite commendable, but won't hit 100% before 2024 elections.
Progress is often not linear here - having tracked it monthly at one time, seeing little movement for a while and then sudden jumps. This can be understood from visualizing how it takes effort to build the pipeline backbone and connectivity, after which an entire swathe of residences receive water at once.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

India is making a killing these days buying discounted Russian crudes of different types and selling refined products like petrol, diesel etc to EU and even the US at market rates. All legit and sanctions proof onlee. May the sanctions last a long time!

Happy to bear the pinch at the pump these days.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

India's public procurement market is estimated to be between 20 and 22 per cent of the GDP, or about $500 billion annually.


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

Post by Cyrano »

UAE is a trading hub. Besides petroleum products, what does it hope to produce and supply to GoI anyways except reroute Chinese and even Indian maal back to India ? BTW, European countries public procurement itself buys Chinese imports for all kinds of things...
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by rajkumar »

vimal wrote:Please no more Adani crap. Let’s not make Adani is India , India is Adani.
Also, no more twitter sourced images without textual context. These images will eventually rot and leave a lot of blank pages with no context.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Amber G. »

Yesterday India announced the discovery in Jammu of 5.9 million tonnes of Lithium an essential component of EV batteries. .. Great news for Jammu & India.

Largest Lithium reserves, 2023 (million tonnes):
Chile: 9.2
Australia: 5.7
Argentina: 2.2
China: 1.5
USA: 0.7
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

Great news. US official for energy transition Geoffrey Payat announces visit to India. Coincidence!
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by S_Madhukar »

Cyrano wrote:Great news. US official for energy transition Geoffrey Payat announces visit to India. Coincidence!
Oh God another toolkit and India human rights, flawed democracy on agenda …. Can’t catch a break!
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Amber G. »

Cyrano wrote:Great news. US official for energy transition Geoffrey Payat announces visit to India. Coincidence!
Who knows, but Payat's visit (from what I know) is follow up "on our energy partnership - absolutely essential to larger strategic agenda which Prez Biden, US Secy of state, US NSA have sought to pursue.."

Also there were detailed (and described a friendly) discussion about scope of these meetings " described as "policy focused discussion by Tarun Kapoor (PMO Advisor Secretary) and other officials recently in USA (Per Indian official sources)..
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by drnayar »

Amber G. wrote:Yesterday India announced the discovery in Jammu of 5.9 million tonnes of Lithium an essential component of EV batteries. .. Great news for Jammu & India.

Largest Lithium reserves, 2023 (million tonnes):
Chile: 9.2
Australia: 5.7
Argentina: 2.2
China: 1.5
USA: 0.7
https://www.thehindubusinessline.com/ne ... 496819.ece

The GSI has “inferred” that the deposits in Kashmir could hold a whopping 5.9 million tonnes of lithium, which if proven would make India a large lithium producing country.

According to statements made by the Ministry of Mines in the Parliament, the GSI has carried out 19 projects in the last five years on “lithium and associated elements” in Andhra Pradesh, Arunachal Pradesh, Bihar, Chhattisgarh, Himachal Pradesh, Jharkhand, Jammu & Kashmir, Madhya Pradesh, Meghalaya and Rajasthan. Further, Mineral Exploration and Consultancy Ltd, a central public sector enterprise, has undertaken exploration for lithium in Ladakh. The department of atomic energy has carried out exploration for lithium in parts of Karnataka and has inferred 1,600 tonnes of the metal in the Mandya district.

https://www.bqprime.com/nation/lithium- ... y-official

The country's first lithium reserve, found in Jammu and Kashmir, is of the best quality, a senior government official said on Saturday, as upbeat villagers expressed hope the discovery will bring them a bright future.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Amber G. »

FWIW: I posted this in other dhaga - wrt to Payat's visit (a few days ago):
And being happy to Join Minister Hardeepji S Puri for a roundtable with USIBC
and USISPF discussing opportunities and potential for India US energy cooperation as part of India Energy Week.

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://archive.ph/oCZRD
Why Adani’s $100 Billion Loss Hasn’t Tanked India’s Markets
The steadfastness of India’s economy attests to the size and seeming strength of the country’s broader business landscape.


Oh No! Everything did not crash and burn ...

very positive article in spite it is from Nazi times

https://www.indiatoday.in/news-analysis ... 2023-02-13
Six takeaways from the Adani-Hindenburg saga and how India reacted to it
The Adani Group-Hindenburg saga has garnered reactions from the general public, the media, the Opposition as well as the ruling party. Here are six takeaways from the ongoing episode.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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

Post by nachiket »

I have moved the discussion related to Air India aircraft orders to the Civil Aviation thread.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by drnayar »

drnayar wrote:
Amber G. wrote:Yesterday India announced the discovery in Jammu of 5.9 million tonnes of Lithium an essential component of EV batteries. .. Great news for Jammu & India.

Largest Lithium reserves, 2023 (million tonnes):
Chile: 9.2
Australia: 5.7
Argentina: 2.2
China: 1.5
USA: 0.7
https://www.thehindubusinessline.com/ne ... 496819.ece

https://www.bqprime.com/nation/lithium- ... y-official

The country's first lithium reserve, found in Jammu and Kashmir, is of the best quality, a senior government official said on Saturday, as upbeat villagers expressed hope the discovery will bring them a bright future.
It would be interesting to think "what if" India finds huge deposit(s) of oil and natural gas as well along the lines of American deposits ! somehow it feels this is going to happen
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India’s exports and imports decline; trade deficit lowest in 12 months.

Contracting for the second month in a row, India’s exports dipped by 6.58 per cent to USD 32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of USD 17.75 billion during the month, according to official data released on Wednesday.

Imports in January too contracted by 3.63 per cent, the second consecutive month, to USD 50.66 billion.

Cumulatively, however, during April-January 2022-23, the country’s merchandise exports rose 8.51 per cent to USD 369.25 billion, while imports increased 21.89 per cent to USD 602.20 billion, the data showed.

The merchandise trade deficit for the April-January this fiscal stood at about USD 233 billion.

The country’s exports had contracted by 12.2 per cent to USD 34.48 billion in December 2022.

Last time, it was in January 2022, when the trade deficit touched USD 17.42 billion.

Export sectors that recorded negative growth during the 10-months period of this fiscal include engineering goods, iron ore, plastic and linoleum, gems and jewellery.

Engineering exports dipped by 3.37 per cent to USD 88.27 billion during April-January 2022-23. In the same period, gems and jewellery shipments declined by 0.54 per cent to USD 31.61 billion.

Sectors which recorded positive growth include petroleum products, electronic goods, rice, ready-made garments of textiles and chemicals.

“The overall exports (goods and services) growth in the current financial year is about 17.33 per cent. The main engine behind this export growth is the Services sector, which has been growing at a historically high growth rate of about 30 per cent.

“Merchandise exports are also cumulatively growing at 8.5 per cent. We are optimistic that this growth momentum would continue despite strong global headwinds,” Commerce Secretary Sunil Barthwal told reporters.

Gold imports during April-January this fiscal contracted by 11.26 per cent to USD 29 billion, as against USD 40.35 billion in the same period last year.

In the 10-months of the current fiscal, crude oil imports rose 53.54 per cent to USD 178.45 billion. Similarly, imports of coal, coke and briquettes rose by 18.91 per cent to USD 43.17 billion.

“In spite of global headwinds, political turmoil and recessionary trends amongst the major economies, during April-January this fiscal, the country’s merchandise exports recorded a growth,” said Sanjay Budhia Chairman – CII National Committee on Exports & Imports.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Suraj »

Vips wrote:India’s exports and imports decline; trade deficit lowest in 12 months.

Contracting for the second month in a row, India’s exports dipped by 6.58 per cent to USD 32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of USD 17.75 billion during the month, according to official data released on Wednesday.

Imports in January too contracted by 3.63 per cent, the second consecutive month, to USD 50.66 billion.

Cumulatively, however, during April-January 2022-23, the country’s merchandise exports rose 8.51 per cent to USD 369.25 billion, while imports increased 21.89 per cent to USD 602.20 billion, the data showed.

...
<snip>
This headline is untrue however. Exports are not declining. The problem is that there's a lag effect here. Export data can be obtained from TWO sources:
1. The monthly statement which is reported around the 15th of the subsequent month, e.g. Dec 2022 in mid Jan 2023. These are available on pibindia.gov.in and do not get updated ever.
2. The live dashboard: https://dashboard.commerce.gov.in/comme ... board.aspx

The dashboard is updated as further monthly data is received. The dashboard however has a 2 month lag in reporting. According to the dashboard, December did NOT see a drop - it in fact saw a $4 billion higher export than prior month. Likewise, expect the January data to be revised in a few weeks.

Full FY exports should be around $760 billion.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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Adani shock for $3.1 trillion Indian stock market is ebbing fast
Signs are fast emerging that investors in Indian stocks are moving beyond the Adani Group’s woes. Local money managers are bullish on the outlook for the year ahead and overseas funds are starting to trickle back into the $3.1 trillion equity market.
A key share benchmark is climbing back toward an all-time high after retreating for a second month in January, when a scathing report on billionaire Gautam Adani’s empire by US short-seller Hindenburg Research shook sentiment across the broader market. Fund managers see India’s main equity indexes both ending the year higher than current levels, according to a Bloomberg News survey, as strong domestic demand boosts corporate earnings.
“There is an Adani issue, and there is the Indian market: they are separate,” said Rakhi Prasad, an investment manager at Alder Capital in Mumbai. The Adani selloff isn’t an India issue because the governance standards of many Indian companies are on par with global ones, while similar problems can be found in many other countries, she said.
The slump in 10 Adani companies that has now wiped off more than $130 billion from their combined market value may end up being a brief stumbling block in India’s growth story, as the government targets the fastest expansion among the world’s major economies. Indeed, the scrutiny the nation’s corporate governance scene has faced since the Hindenburg report may end up being a long-term positive rather than its own “Lehman moment,” some say.
“I have become more bullish,” said veteran emerging-markets investor Mark Mobius, the co-founder of Mobius Capital Partners. “India now has attracted international attention and investors will realize that the Adani case is an aberration.”
Mobius said he is looking to buy technology, infrastructure and healthcare stocks. He told Bloomberg late last month that he plans to put more money into India as the “long-term future of the market is great,” and the investor retreat as a result of the Hindenburg report “is an Adani problem.”
Hindenburg published a report on January 24 accusing the Adani group of share manipulation and fraud — charges the conglomerate has repeatedly denied.

Fund survey
Sixteen of 22 local fund managers Bloomberg News asked in an informal survey this month said they were still bullish on Indian stocks despite the Adani saga. Only two were bearish, while four others were neutral. Seventeen predicted the S&P BSE Sensex Index and NSE Nifty 50 would end the year higher than current levels, while the majority also said the Adani fallout wouldn’t hurt Prime Minister Narendra Modi’s pro-growth political agenda.
Overseas investors too seem less concerned than in the initial days of the Adani rout. Foreign funds boosted holdings of Indian stocks for six straight sessions through Thursday, the longest streak since November, according to the latest exchange data compiled by Bloomberg.
While the Adani group has dominated news headlines in recent weeks, the conglomerate’s many businesses that span areas from ports-to-power only comprise a sliver of the Indian economy.
The group’s combined capital expenditure over the next two years will be at best about $12 billion even assuming it manages to maintain last fiscal year’s levels despite its wide-ranging troubles, according to calculations from Bloomberg Intelligence. This represents only about 0.3% of the potential gross domestic product of India’s $3.47 trillion economy.
An analysis of governance, liquidity and leverage conditions at India’s biggest business groups including Tata, Reliance and Infosys also indicates that Adani is an outlier, and isn’t representative of India Inc. as a whole, according to a report by Bloomberg Economics analysts Abhishek Gupta and Scott Johnson.

‘Valuation risk’
Not everyone is optimistic. Some investors fear the corporate-governance concerns surrounding Adani’s firms may continue to act as a drag on Indian equities, and add to other negatives including expensive valuations and the switch of global funds toward China following its reopening.
The Sensex, which doesn’t have any Adani stocks among its 30 constituents, is less than 4% away from a record high reached in December and is trading at an 89% premium to the MSCI Emerging Markets Index on earnings-based valuations. The Nifty 50 gauge, which houses two Adani group companies, is less than 5% away from its peak.
“In the near term, Indian equities have more of a valuation risk as rates rise, rather than Adani risks,” said Nitin Chanduka, a strategist at Bloomberg Intelligence in Singapore. Adani’s issues won’t lead to a “widespread capitulation,” he said.

‘A wrinkle’
Meanwhile, growth in corporate earnings is seen supporting India’s long-term valuations. Analysts estimate earnings per share for companies in the MSCI India Index to increase 14.1% this year, better than most major markets, data compiled by Bloomberg Intelligence show.
The bullishness of institutional money managers mirrors that of the growing army of retail investors, who have become a force to reckon with after an investing boom triggered by the pandemic. Over the past two years, the number of retail investor accounts in India has swelled to around 110 million from 30 million.
Adani’s issues aren’t system-wide concerns as “India’s markets have matured significantly over time,” said Rushabh Sheth, co-chief investment officer at Karma Capital. “In a few months, it’ll just remain as a wrinkle.”
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

^^ LOL ... No wonder the leader of most vilest human being had to crap in his pants and come out
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Re: Indian Economy News & Discussion - Nov 27 2017

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

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Quid pro quo....

You audit us.

We audit you.


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Re: Indian Economy News & Discussion - Nov 27 2017

Post by drnayar »

chetak wrote:Quid pro quo....

You audit us.

We audit you.

https://pbs.twimg.com/media/FpI67zvX0AA ... name=large[/img]

fallout of the Hidenburg ?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Adani credit facilities expose collateral web full of red flags

Apparently Green Bonds were used to secure funding for other businesses including coal mines in Australia. ESG funds will obviously have problem with this.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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https://twitter.com/rishibagree/status/ ... 5168510976
FM Chidambaram Vs FM Sitharaman

Infra spending
2009-14 - ₹1.57 Lakh Cr
2019-24 - ₹33.3 Lakh Cr

Wealth Created
2009-2014 - ₹ 13 Lakh Cr
2019 -2023 - ₹ 165 Lakh Cr

Forex Addition
2009 -14 $ 50 Billion
2019 - 23 $150 Billion

GDP Rank
2014 - 10th
2023 - 5th
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

Mega push for 'Jal Jeevan Mission' to reach the target within year.

One of Prime Minister Narendra Modi’s flagship programmes, the Jal Jeevan Mission, might not be able to achieve the target set for it of 100 per cent tap water coverage for households by 2024, but the government is confident that it will come close.

Govt expects tap water coverage to reach 90% of households by 2024.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by NRao »

4 days ago. 15 mins long.

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

Post by vimal »

^^ Its already posted above.
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