Projected volumes in a big auto company is estimated at 95 percent of pre-lockdown levels.
Only issue is manufacturing at same scale with social distancing norms of the govt.
Projected volumes in a big auto company is estimated at 95 percent of pre-lockdown levels.
I don't doubt your experience in China. The scale, productivity and cost efficiency achieved by China is unparalleled including when compared to peak manufacturing and production in US and Europe during the late 19th and 20th centuries. The ease of doing business in countries like China or Vietnam or somewhere in the gulf compared to democracies is that the former have a single vision, and they have all the time and resources to dedicate towards making that vision a reality. Where as democracies need to worry about election cycles, state level politics, local politics, courts, environmental activists, labor unions etc which saddles the system and slows them down, this is especially true in a developing country like India where we have a very active and free first world democracy while also being third world developing country at the same time. China's had a great run for the last 35 years or so, now is its model of creating millions of human drones that are dedicated to creating nothing but cheap goods for rest of world sustainable or are the democracies that function based on consensus, environmental concerns, courts, labor rights etc better in the long run only time will tell. For now until rest of the world figures out a way to get rid of its addiction for cheap junk, China will continue to produce things at a scale and pace which will remain unmatched for a long time to come.Vadivel wrote:Experience of an Indian entrepreneur in China
I am the Vice President of a medium sized Indian corporate.
https://orangenews9.com/experience-of-a ... -in-china/
I think the main important thing was missed out. That is the role Hong Kong and Taiwan has played. They together with Japan and South Korea pioneered the export lead growth model. Thousand of Hong Kong and Taiwan factories moved to China in a very short timeframe, becase they were all the same people. China had a good path they could follow.kit wrote:https://orangenews9.com/boycott-chinese ... rspective/
(Brig (retd) GB Reddi)
What are the realities? China’s economic growth since the 1980s is unparalleled. Between 1960 and 1980, its share of global GDP increased from 1.1% to 1.2%. By 2018, China’s share of global GDP had increased to 13%. It is mostly based on export led growth.
However, trade by itself cannot hurt Chinese security interests due to its miniscule share. Most importantly, more than 50% of India’s imports from China are either capital or intermediate goods. Consumer goods, which are more likely to bear a Made in China label, have a share of less than 20%. So what? Import substitution is vital imperative for economic rise which depends on access to financial support, technology as well as export markets.
Viewed in a holistic contest, the possibility of an offensive on the economic front appears a distant prospect if considered from the narratives, discourses and debates in the media. In boxing parlance, it is “throwing the Towel into the Ring” by either the Coach or the Seconds outside the Ring conceding defeat of the boxer.
On the internal political front, the opposition parties are hell bent upon singing their “external masters diktat” and driving a wedge in the unity vital to overcome external aggression.
Despite such demoralizing overtones and odds, the “hard power” – the Armed Forces as the last bastion – is prepared to protect the “Sovereignty and Security” of the nation by valiantly wage war against Chinese PLA.
Ipso facto, the blame squarely falls on the political leadership of the nation over the last 73 years. All that the political leadership and parties have been repeatedly asserting to the “gullible masses or vote banks” is that the nation at the “cross-roads of realizing it full potential over the past 50 to 60 years; and, lately in the new millennium that the nation on the “Raising” course to become a great power.
Comparative analysis of global rankings of China and India from 1949 is highlighted for the readers to draw conclusions. One, on 01 October 1949, “People’s Republic China (PRC) emerged totally war ravaged after World War II followed by the revolution. Two, according to the World Bank in 1978, China’s GDP grew from $149.4 billion at 11th ranking and India’s GDP was $.137.3 billion at 12th ranking. And, Deng Xiaoping introduced the policy of “Four Great Modernizations”.
Three, by 1990, China’s GDP still was $360.86 at 11th ranking and India’s GDP was $320.98 at 12th ranking. Four, there was rapid change thereafter. In 2004, China’s GDP increased to $1955.35 at 6th ranking and India’s GDP was $709.15 at 12th ranking only. Five, ten years down the line in 2014 China’s GDP rose dramatically to $10,438.53 at 2nd ranking and India’s GDP was laggard at $2039.13 at 10th rank marginally improving from 12th ranking.
Now, in 2020, China Nominal GDP is $14.14 trillion at 2nd ranking and India’s GDP is India Nominal GDP: $2.94 trillion at 5th rank.
The comparative data clearly reveals that Indian economy growth remained sluggish until 2004. Even thereafter till 2014, India’s ranking marginally improving to 10th place. And in 2020, India’s ranking has moved to 5th rank. And, the target has been set to achieve US5trillion economy which due to economic recession on account of COVID-19 appears a Himalayan Challenge.
Thus, all the ruling parties are equally responsible and accountable for the “elephantine growth” until 2014.
Growth in two fields is recorded to provide a perspective between China and India. For example, in the electronic fields, the Electronics Corporation of India Limited (ECIL) was established under the Department of Atomic Energy, on April 11, 1967 at Hyderabad and credited with producing the first indigenous digital computers, TDC 312 and TDC 316, solid state TV, control and instrumentation for nuclear power plants and first earth station antenna of India, to create a strong indigenous base in electronics, has woefully remained a laggard in producing semi conductor chips and even consumer electronics.
Liberalization of India’s telecom industry was initiated in early 1990s. The Industry has grown over twenty times in just ten years, from under 37 million subscribers in the year 2001 to over 846 million subscribers in the year 2011, and 1.1514 billion at the end of December 2019. As of Dec 2019, India has the world’s second-largest mobile phone user base with over 1.1514 billion users
The Electronic component industry was valued at $ 13.5 bn in 2015; of which Electro-mechanical segment had the highest share at 30%. Passive and active segments handled 27% and 22% share, respectively, while the remaining market of 20% was handled by the Others segment. Nearly 70-80% of the electronic components market is imports-driven.
The government has placed electronics manufacturing on high priority with a major focus on initiatives such as Digital India, Make in India and supportive FDI policies to bolster electronic manufacturing. As a result, domestic production is expected to grow to $104 billion in 2020.
In contrast, it was only in 1998 that China created Ministry of Information Industry (MII) which restructured China Telecom into three parts: China Telecom (fixed-line), China Mobile (Mobile) and China Satcom (Satelite). Followed the second restructuring in 2002 geographically into north and south. Parallel to this double fission, the telecommunications division of the Ministry of Railways (MOR) established a new actor in 2000: China TieTong.
According to China Daily, 286.2 million personal computers (90.6% of the global supply), 1.77 billion phones (70.6% of global supply of smartphones) and 109 million units (80% of global supply of air conditioners) were produced in 2015. Today, China is the world’s largest manufacturer of mobile phones, computers and televisions, respectively producing over 90 percent, 90 percent and 70 percent of these devices in 2018.
China’s electronic information industry, like much of its economy, is both export-oriented and foreign capital-led. Top 10 Electronic companies include: Aigo, Haier, TCL, BBK Electronics, Huawe, Lenovo, OnePlus, Oppo, Vivo, and Xiaomi. The electronic information industry has grown three times faster than the national GDP growth rate and has grown faster than the machinery manufacturing and metallurgy industries.
Revenue for the Electric Component Manufacturing industry in China is expected to grow to total $302.6 billion.
Next, in the crude steel production from 1950 onward, both China and India were at the same level of about 1 MTPA capacity. By 2017, China achieved a remarkable steel output of 803.8 MTPA producing almost 50% of world steel. Its rise was mainly from 2000 onward. China imports iron ore from India also. In case of India, there has been slow but steady growth throughout the period. The Ministry of Steel aims to increase the steel production capacity to 300 million tons by 2030-31 from 134.6 million tons in 2017-2018.
Besides rich iron ore, there are 95 minerals produced by India – 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals (bauxite, copper etc); but mostly exported instead of value addition to Japan, China and South Korea instead of producing both for export and domestic markets – loot and scoot of raw materials. India holds a fair advantage in cost of production and conversion costs in steel and alumina.
No wonder, India’s academic economic experts, particularly those in foreign countries, are harping on the present large scale dependence of imports from China and comparatively low exports to China justifying the continuation of trade relations having failed to ensure import substitution whilst they enjoyed prized posts to steer the economy. And, the industrial barons would toe their line at the cost of growth of domestic industries in all fields. For, they are only concerned with their profits and least concerned with national security interests.
In retrospect, “Fraudsters of Hindustan”, who were in the forefront of “looting and scooting” the nation, are squarely responsible and accountable for the current dismal state of the nation. Dismal have been the policies, strategies and processes of the past on the economy front. Self aggrandizement was the sole interest of political leaders; but not the society or national interests. Corruption since 1980 has engulfed the nation.
However, the blame also squarely rests with the “We the People” for regularly electing “Fraudsters” as their leaders to steer the course of the nation to realize its full potential. Even now it is never too late for “We the People” to send the “Dynasties, Neo Dynasties, Cronies, Criminals” masquerading as leaders to the dustbin of history.
Never late than ever, Modi-led NDA government must carry out pragmatic review of the economic scenario from short, mid and long terms views and stop promoting China’s national economy security interests at the cost of India’s economy security interests.
After all, why award contracts to Chinese firms to execute infrastructure projects when India has such heavy weights like L & T, GMR and others?
Similarly, there is vast scope available for domestic manufacturing to substitute Chinese imports in various fields and also for exports. Encourage and develop technology through indigenous innovation. Stop export of raw materials and ensure their exploitation by expanding capacities and encouraging setting up of additional capacities like steel production to reach 300 MTPA by 2025 instead of 2030. Similarly, fast pace growth in all other sectors shall be ultimate objective.
From CNBC interview of Hero Motor CorpThe additional cash flow in the rural areas has helped tractor sales recover. During May, tractor sales across the country increased four per cent with companies such as Sonalika registering a 17 per cent rise in sales.
The buoyancy in the rural economy is also reflected by the fastest growth in seven years in sales of seeds this year.
Besides these, the spending by the Modi government under the rural employment or Mahatma Gandhi National Rural Employment Scheme (MNRES) has resulted in higher liquidity.
Ministry of Agriculture’s Sanjay Agarwal feels that rural India would be the driving factor of Indian economy post-coronavirus.
His views are supplemented by Hero Motor Corp Chairman Pawan K Munjal, who says that his company expects a strong revival in the coming months.
"Our engines are revving and we are sprinting ahead. We expect a strong demand revival in the coming months"
@HeroMotoCorp Chairman @pawankmunjal in a freewheeling chat with @parikshitl
This thread has always separated the two because latitude to discuss politics will turn it into a politics thread. This thread is also one of the most heavily viewed and widely commented on ones on the forum, and this has been the case for 15+ years now, so it’s very much possible to accomplish.mukkan wrote:Can someone explain how economic policies in a democracy can be discussed without discussing politics? Any economic policy is directly linked to politics. There is no implementation of economic policies without thinking of the political impact for the ruling party.
India’s rupee, this year’s worst-performing currency in Asia, may finally be ready to join the recovery seen in emerging markets.
The rupee may strengthen to 75 per dollar by the end of December, an advance of about 1% from 75.5650 at 11:20 a.m. in Mumbai on Monday, according to a Bloomberg survey. The currency has dropped 5.6% so far in 2020.
The prospect of a rare current-account surplus following robust foreign inflows and the global oil-price collapse will help nudge the rupee higher, according to Barclays Plc and Scotiabank. A mild improvement in India’s dominant services sector and trade data in May after the gradual easing of the world’s strictest lockdown also bodes well for future flows into local assets.
“The inflows picture has turned hugely positive for the rupee, with many companies attracting foreign interest,” said Sajal Gupta, head of foreign exchange at Edelweiss Securities Pvt. in Mumbai. The rupee may climb to as high as 72 by end of the year, he said, implying a gain of about 5%.
Vietnam & Thailand is milking FTA agreements with India to the best. In fact Vietnam can be considered as team B of china. Majority of their manufacturing or screwdriver giri facilities are owned by mainland (Han) Chinese businessman or Vietnamese citizens with Chinese lineage.vimal wrote:Time to rescind the FTA with ASEAN. These guys are pests.
Yeah, not if the RBI has anything to say about it. Keep in mind that our forex reserves were steadily rising to over $500bn while the Rupee was continuing to be the worst performing currency.vimal wrote: The rupee may strengthen to 75 per dollar by the end of December, an advance of about 1% from 75.5650 at 11:20 a.m. in Mumbai on Monday, according to a Bloomberg survey. The currency has dropped 5.6% so far in 2020.
“The inflows picture has turned hugely positive for the rupee, with many companies attracting foreign interest,” said Sajal Gupta, head of foreign exchange at Edelweiss Securities Pvt. in Mumbai. The rupee may climb to as high as 72 by end of the year, he said, implying a gain of about 5%.
India's current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India said on Tuesday, the first quarterly surplus in 13 years.
The current account recorded a surplus of $600 million or 0.1% of Indian gross domestic product in the three months to March 2020 compared to a deficit of 0.7% in the same period a year ago, RBI data showed.
This represents the first time that India's quarterly current account, which measures the difference between the value of a country's imported and exported goods and services, has recorded a surplus since the January-March quarter of 2007.
It took a Health Crisis for Government of India to wake up to the absolute disaster that happened across manufacturing in India over last ten years and accelerated over last five years. Across all segments .. Micro, Small, Medium, Large...Mollick.R wrote:Vietnam & Thailand is milking FTA agreements with India to the best. In fact Vietnam can be considered as team B of china. Majority of their manufacturing or screwdriver giri facilities are owned by mainland (Han) Chinese businessman or Vietnamese citizens with Chinese lineage.vimal wrote:Time to rescind the FTA with ASEAN. These guys are pests.
PM Modi to review FTAs this week; CEA to make presentation
By Kirtika Suneja, ET Bureau |Updated: June 29, 2020, 11.06PM IST
The meeting assumes significance because China is suspected to route goods through other countries, taking advantage of the trade pacts.
Article is behind paywall
https://economictimes.indiatimes.com/ne ... content=23
I don't think this Chinese app ban is temporary. Govt. has realised the need & opportunity for the India app eco-system to develop. govt has launced App Challenge 3 days back.Mollick.R wrote:In the social media (Short Video Format) app space, I can see a new Josh & spark lit up within 10 days. Previously this space was filled up only with pessimism & "Hum/Tum se naa ho payega" syndrome. Ban of 59 Chinese apps by GOI has charged up the moral (& business case) of the desi developers. Hope some at least moderately successful products comes out & sustains in market for long run.
China banned Goggle, Facebook , Twitter to its 140 cr population market & built domestic giants like BAT (Baidu, Alibaba, Tencent), which has now respectable size, tech manpower base & product rolled on as well as on pipeline.
Hope this ban of Chinese app stays at least for 5 year (If not for perpetual)
The race to build an Indian social network
https://www.livemint.com/technology/app ... 77273.html
Bolded categories are where most of the banned Chinese apps were. Govt has specifically focussed on these categories. One notable mention is to make a desi microblogging app/site aka desi twitter. Hopefully some apps catch on.BACKGROUND
MeitY in partnership with Atal Innovation Mission – Niti Aayog launches Digital India AatmaNirbhar Bharat Innovate Challenge to identify the best Indian Apps that are already being used by citizens and have the potential to scale and become world class Apps in their respective categories. This Innovation Challenge with various cash awards and incentives of featuring Apps on Leader Boards seeks to create an ecosystem where Indian entrepreneurs and Startups are incentivised to ideate, incubate, build, nurture and sustain Tech solutions that can serve not only citizens within India but also the world.
The Mantra is to Make in India for India and the World.
The AatmaNirbhar Bharat App Innovation Challenge is being launched in the following 8 broad categories:
Office Productivity & Work from Home
Social Networking
E-Learning
Entertainment
Health & Wellness
Business including Agritech and Fintech
News
Games
There may be several sub categories within each category.
INDICATIVE LIST OF SUB CATEGORIES AND PROBLEM STATEMENTS
A mobile application harnessing the most accurate facial and / or body mapping technology to allow for a true-to-life virtual try out of products like spectacles, clothes, etc.
Mobile application for real-time speech-to-speech translation and camera translation of multiple languages.
An automated web-based application that handles business-to-business lead generation and cold emailing and is completely manageable from a mobile device itself.
Application to use mobile devices as image scanners with features like on the fly image correction, image editing, text recognition, etc.
Application to provide cloud storage integration, cross-platform file transfer via FTP or LAN, and a root browser on mobile device
A robust indigenous anti-virus software for mobile devices.
Application to optimize mobile device's performance by cleaning junk/cache files, optimizing device memory and optimizing battery usage.
A mobile based live streaming platform for hosting webinars, lectures, etc.
A mobile based messaging and video calling application
A mobile based microblogging application
A mobile based news application that uses cutting-edge technology to recommend the most relevant and interesting news individually to each use.
A mobile application offering satellite imagery and street maps, as well as functions such as a route planner for traveling by foot, car, or with public transportation.
A mobile based online gaming platform which also functions as a social hub for gamers
A mobile based photo-editing application with all standard image editing features
TERMS AND CONDITIONS
The contest is open to Indian Citizens only.
...........................
In an effort to smoothen the process of imports and exports in India, the government has introduced a contactless process, which would enhance the in-house testing capability of the customs. M Ajit Kumar, Chairman, Central Board of Indirect Taxes & Customs (CBIC) unveiled new and modern testing equipment inducted into the Central Revenues Control Laboratory (CRCL), aimed at making imports and exports clearances faster, said a statement by the Ministry of Finance. Under the CBIC’s flagship programme — Turant Customs — the government has equipped the testing facilities of the CRCL with state-of-art equipment, costing about Rs 80 crores.
............
M_Joshi wrote:I don't think this Chinese app ban is temporary. Govt. has realised the need & opportunity for the India app eco-system to develop. govt has launced App Challenge 3 days back.Mollick.R wrote:In the social media (Short Video Format) app space, I can see a new Josh & spark lit up within 10 days. Previously this space was filled up only with pessimism & "Hum/Tum se naa ho payega" syndrome. Ban of 59 Chinese apps by GOI has charged up the moral (& business case) of the desi developers. Hope some at least moderately successful products comes out & sustains in market for long run.
China banned Goggle, Facebook , Twitter to its 140 cr population market & built domestic giants like BAT (Baidu, Alibaba, Tencent), which has now respectable size, tech manpower base & product rolled on as well as on pipeline.
Hope this ban of Chinese app stays at least for 5 year (If not for perpetual)
The race to build an Indian social network
https://www.livemint.com/technology/app ... 77273.html
https://innovate.mygov.in/app-challenge/
Bolded categories are where most of the banned Chinese apps were. Govt has specifically focussed on these categories. One notable mention is to make a desi microblogging app/site aka desi twitter. Hopefully some apps catch on.BACKGROUND
................
The Mantra is to Make in India for India and the World.
The AatmaNirbhar Bharat App Innovation Challenge is being launched in the following 8 broad categories:
Office Productivity & Work from Home
Social Networking
E-Learning
Entertainment
Health & Wellness
Business including Agritech and Fintech
News
Games
There may be several sub categories within each category.
INDICATIVE LIST OF SUB CATEGORIES AND PROBLEM STATEMENTS
A mobile application harnessing the most accurate facial and / or body mapping technology to allow for a true-to-life virtual try out of products like spectacles, clothes, etc.
Mobile application for real-time speech-to-speech translation and camera translation of multiple languages.
An automated web-based application that handles business-to-business lead generation and cold emailing and is completely manageable from a mobile device itself.
Application to use mobile devices as image scanners with features like on the fly image correction, image editing, text recognition, etc.
Application to provide cloud storage integration, cross-platform file transfer via FTP or LAN, and a root browser on mobile device
A robust indigenous anti-virus software for mobile devices.
Application to optimize mobile device's performance by cleaning junk/cache files, optimizing device memory and optimizing battery usage.
A mobile based live streaming platform for hosting webinars, lectures, etc.
A mobile based messaging and video calling application
A mobile based microblogging application
A mobile based news application that uses cutting-edge technology to recommend the most relevant and interesting news individually to each use.
A mobile application offering satellite imagery and street maps, as well as functions such as a route planner for traveling by foot, car, or with public transportation.
A mobile based online gaming platform which also functions as a social hub for gamers
A mobile based photo-editing application with all standard image editing features
3. Real challenges comes fromSoon after the media reported about the popularity of Mitron app, a team of developers from Pakistan named QBoxus contacted Indian reporters through Twitter. The QBoxus team claimed that they are the ones who actually created an app called TicTic and then put up the source code on CodeCanyon for sale at $34 or around Rs 2,571.
In an interaction with The Times of India--GadgetsNow, Irfan Sheikh-- one of the team members of QBoxus-- claimed that one of the buyers of TicTic simply ‘rebranded’ it into Mitron.
“It’s a direct copy of TicTic app. You can ask your technical team to download both (TicTic and Mitron) apps and test it,” said Sheikh, who is based in Lahore.
https://timesofindia.indiatimes.com/gad ... 100681.cms
mukkan wrote:It will be hard to get too many people to relocate to India. Even people with India origin have too much sunk cost and other family commitments for them to move back to India. So Indian companies should think truly global and go where the talent is. They need to open subsidiaries in US and hire people paying market rate. These days, no physical office space needed, that will save some cost. This is the playbook from Chinese companies with great support from Chinese government. They aggressively find highly experienced Chinese folks and hire them to work from US. I am not sure how many Indian companies are ready to risk that much upfront investment. Will GOI invest in companies developing high end technologies and follow the strategy of Chinese government? I don't think so. All of them will get scared with $$$$$$$$ multiplication factor of 76!
Prasad wrote:A few more PhDs coming back to teach would be great too. Same with masters guys coming back to plug into outer create new startups.
suryag wrote:Actually out of personal experience - CCP authorized companies (big ones that you are aware of) are smarter, they not only hire Chinese/origin students but additionally hire nerdy Whites/Indians at more than market prices in California and Canada and then in 3 years shut shop all along transferring stuff/knowhow-why-what back to motherland.