Indian Economy News & Discussion - Nov 27 2017

JTull · Post by **JTull** » 26 Dec 2023 03:34

It's depressing when you hear stories like Mamata Banerjee flagging off her fifirst new train as railway minister full of those leaving Bengal to seek jobs elsewhere.

drnayar · Post by **drnayar** » 26 Dec 2023 10:01

https://www.thetimes.co.uk/article/uk-e ... -dbr8ltfch

The narrowing of the gap between the UK and German economy will be driven by a slowdown in the latter’s growth as a result of its reliance on Russia for energy to drive its manufacturing sector. Although Germany is expected to return to economic growth in 2024, this growth will gradually slow by 2038 and it will relinquish its position as the third-largest economy to Japan in 2026, and concede fourth place to India in 2027.

India is forecast to become the world’s third $10 trillion economy in 2035 and as a result, economists predict global geopolitics will shift as three superpowers jostle, instead of two. Pushpin Singh, Cebr senior economist, said: “Bolstered by robust demographic trends and a diverse economic foundation, India’s upward trajectory is poised to persist.”

Sam Miley, managing economist at the Cebr, said: “China’s economy has faced several years of instability … The future prospects of the economy remain strong, however, and we expect China to overtake the US as the world’s largest economy within 15 years.”

Cebr predicted that the US would overtake China again in the 2050s and that India would become the world’s largest economy in the 2080s, meaning China’s period at the top will be short-lived.

vijayk · Post by **vijayk** » 26 Dec 2023 20:26

https://www.livemint.com/economy/indias ... 37536.html

India's current account deficit narrows to 1% of GDP in July-September: RBI

India's current account deficit (CAD) declined sharply to 1% of gross domestic product (GDP) or $8.3 billion in three months to September, mainly due to narrowing of merchandise trade deficit and growth in services exports, according to data released by the Reserve Bank of India (RBI) on Tuesday.

The CAD was 3.8% of GDP or $30.9 billion in July-September quarter in 2022-23. The deficit was $9.2 billion or 1.1% of GDP in the first quarter (April-June) of the current financial year 2023-24.

"Underlying the lower current account deficit on a year-on-year (y-o-y) basis in Q2:2023-24 was the narrowing of merchandise trade deficit to $61.0 billion from $78.3 billion in Q2:2022-23," said the data on Developments in India's Balance of Payments during the second quarter (July-September) of 2023-24

hgupta · Post by **hgupta** » 26 Dec 2023 21:29

The calculations are off because they are implying that the GDP is around $3.3T which is not the case. The case is that India's GDP is around $3.85T or higher.

Najunamar · Post by **Najunamar** » 26 Dec 2023 22:01

Hguptaji, the 1q24 gdp was 70.67Trillion Rupees which seems to be matching the figures. Perhaps you’re equally dividing the annual GDP which doesn’t work out as 3rd and 4th quarter spurts are quite high no?

sanman · Post by **sanman** » 26 Dec 2023 23:35

sanman · Post by **sanman** » 27 Dec 2023 19:09

India Joins the Ranks of Stock Market Superpowers

https://www.cnn.com/2023/12/26/markets/ ... index.html

sanman · Post by **sanman** » 27 Dec 2023 22:29

JTull · Post by **JTull** » 28 Dec 2023 19:29

@admins please move to a different thread if deemed off topic

https://x.com/sanjeevsanyal/status/1738 ... 07683?s=20

JTull · Post by **JTull** » 28 Dec 2023 19:29

RCase · Post by **RCase** » 29 Dec 2023 08:14

https://www.youtube.com/watch?v=cbjhLJlOZIk

drnayar · Post by **drnayar** » 30 Dec 2023 03:56

https://timesofindia.indiatimes.com/bus ... 764255.cms

India is currently estimated to be the fifth largest economy with a GDP of $3.7 trillion. Several estimates show that India's GDP is expected to overtake Japan and Germany by 2030. A vision document being prepared by government think tank Niti Aayog has shown that India will be a $30 trillion developed economy by 2047

5T to 30T in 17 years

A_Gupta · Post by **A_Gupta** » 03 Jan 2024 05:35

https://www.reuters.com/world/india/imf ... 023-12-19/

IMF's India exchange rate regime reclassification faces cenbank pushback

The International Monetary Fund has reclassified India's "de facto" exchange rate regime to "stabilized arrangement" from "floating" for December 2022 to October 2023 after an article IV review, with the central bank pushing back against the move.

The IMF reclassification followed the Reserve Bank of India's likely forex interventions where the rupee traded in a "very narrow range, suggesting intervention likely exceeded levels necessary to address disorderly market conditions," IMF said in the report.
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The RBI strongly believes that such a view is "incorrect" and "unjustified", the report said. Governor Shaktikanta Das said in October that currency market interventions should not be seen as "black and white."

VinodTK · Post by **VinodTK** » 05 Jan 2024 20:28

His fortune shrank by $80 billion last year. Now India’s Gautam Adani is back as Asia’s richest man

Gautam Adani has had a good start to 2024.

After a tumultuous year, the Indian tycoon has just retaken his former position as Asia’s richest man, according to the Bloomberg Billionaires Index. The founder of the sprawling Adani Group is now worth $97.6 billion, which makes him the 12th wealthiest person on the planet.

The self-made industrialist and college dropout has gained more than $13 billion in net worth over the last two days, which has allowed him to overtake fellow countryman Mukesh Ambani as the continent’s biggest billionaire, the tracker said. Ambani, the chairman of Reliance Industries, is currently worth $97 billion.

Adani’s jump in wealth — the world’s largest this year, according to the index — comes almost 12 months after his ports-to-power conglomerate was accused by the US short-seller Hindenburg Research of “brazen stock manipulation and accounting fraud scheme.”
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vijayk · Post by **vijayk** » 07 Jan 2024 04:43

VinodTK · Post by **VinodTK** » 07 Jan 2024 23:19

WA Files:
How Africans gave the middle finger to Chinese Two wheelers and embraced Indian bikes

Explore the fascinating shift in Africa's motorcycle market as Indian bikes triumph over Chinese competitors. From affordability to durability, discover why Africans are embracing Indian brands like TVS and Bajaj. Join us in uncovering the unique journey that led to this transformative change in transportation preferences across the continent

https://www.youtube.com/watch?v=jYbJDj6h370

vijayk · Post by **vijayk** » 10 Jan 2024 02:21

bala · Post by **bala** » 10 Jan 2024 19:47

Yet another prediction by Indian Finance Ministry: India will be $ 30 T economy by 2047.

FM Nirmala Sitharaman gives the roadmap to 'Viksit Bharat' by 2047 I Vibrant Gujarat Summit 2024

The 21st century will be India's century,' said Finance Minister Nirmala Sitharaman at the Vibrant Gujarat Summit. She expressed confidence that by 2027 or 2028, India will become the world's third-largest economy. The Prime Minister has set this as a goal, and the recovery from the post-COVID challenges has been strong, putting India on a solid footing. Finance Minister Nirmala Sitharaman outlines several pillars on which the economy will evolve and transform itself into a 30 T economy by 47.

https://www.youtube.com/watch?v=6SsWREb-DrQ

vijayk · Post by **vijayk** » 15 Jan 2024 22:22

https://twitter.com/narendramodi/status ... 4324770170

Nos. of Indians living in Multidimensional poverty

2014 - 37.38 crores
2023 - 12.56 crores

This is the sharpest drop in 9 years due to inclusive policy of the Modi Govt.

vijayk · Post by **vijayk** » 15 Jan 2024 22:22

consumption prediction

vijayk · Post by **vijayk** » 19 Jan 2024 20:46

Jay · Post by **Jay** » 20 Jan 2024 01:05

Apparently they are some headwinds in the FDI regime. This video explains some of the reasons for low FDI trend. I trust the Modi government with course adjustments when the notice an issue. Might happen after the elections.

https://www.youtube.com/watch?v=07rC62Ehc5E

chetak · Post by **chetak** » 23 Jan 2024 23:12

Bharat’s Stock Market has overtaken Hong Kong’s for 1st time in another feat to become 4th largest Equity Market Globally.

Combined value of shares listed on Bharatiya Exchanges reached $4.33 Trillion Vs $4.29 Trillion for Hong Kong.

https://economictimes.indiatimes.com/ma ... s?from=mdr

vijayk · Post by **vijayk** » 24 Jan 2024 08:49

vijayk · Post by **vijayk** » 24 Jan 2024 08:50

chetak wrote: ↑23 Jan 2024 23:12 Bharat’s Stock Market has overtaken Hong Kong’s for 1st time in another feat to become 4th largest Equity Market Globally.

Combined value of shares listed on Bharatiya Exchanges reached $4.33 Trillion Vs $4.29 Trillion for Hong Kong.

https://economictimes.indiatimes.com/ma ... s?from=mdr

that too on Jan 22

vijayk · Post by **vijayk** » 29 Jan 2024 21:47

vijayk · Post by **vijayk** » 05 Feb 2024 07:20

vijayk · Post by **vijayk** » 14 Feb 2024 08:10

Pratyush · Post by **Pratyush** » 14 Feb 2024 09:21

This needs to reach 30 billion per year.

bharathp · Post by **bharathp** » 14 Feb 2024 09:30

a few more points with regards to walmart, china and India:

Chinese imports entering through Wal-Mart in 2013 likely totaled at least $49.1 billion and the combined effect of imports from and exports to China conducted through Wal-Mart likely accounted for 15.3 percent of the growth of the total U.S. goods trade deficit with China between 2001 and 2013.
https://www.epi.org/publication/the-wal-mart-effect/

Between January and August this year [2023], Walmart shipped 25 percent of its U.S. imports from India. That compares to just 2 percent in 2018. Import Yeti, a data company, shared the information with Reuters.The same data shows that only 60 percent of Walmart’s imports came from China during the same period, down from 80 percent in 2018. China is still Walmart’s biggest country for importing goods. https://learningenglish.voanews.com/a/w ... 77475.html

disha · Post by **disha** » 16 Feb 2024 23:20

GOI brought out the white paper on Indian economy. Why is that not discussed here?

1. Inflation (it impacts middle class*, I know the effect of inflation, it lowered my family from middle-middle class to lowest of lower middle class)

2. Bank NPAs (it impacts middle class*, no loans for your small business or your home or higher interest rate)

3. Fiscal Deficit (it *does* impact middle class*).

4. Scams

*It took me 3 decades to climb back from lower middle class to upper middle class. I was fortunate. That is why, my focus on impact on middle class.

Jay · Post by **Jay** » 17 Feb 2024 00:25

disha wrote: ↑16 Feb 2024 23:20 GOI brought out the white paper on Indian economy. Why is that not discussed here?

Disha ji, can you please link the white paper?

drnayar · Post by **drnayar** » 17 Feb 2024 14:57

https://www.theregister.com/2024/02 ... nt/

A_Gupta · Post by **A_Gupta** » 17 Feb 2024 18:45

White Paper:
https://economictimes.indiatimes.com/ph ... 528430.cms

drnayar · Post by **drnayar** » 17 Feb 2024 21:52

Source : https://cdn.statcdn.com/Infographic/ima ... 29365.jpeg

sanman · Post by **sanman** » 19 Feb 2024 15:08

International investors flock to Indian stock markets

https://www.youtube.com/watch?v=hlpGs_HuTaE

Google summary

The video is about global investors shifting their focus from China to India. The reasons for this shift include China's economic challenges and geopolitical tensions, as well as India's young and growing population, its stable and attractive alternative, and its ongoing reforms.

India is emerging as a global investor's best bet in a world that's struggling to find growth. Investors are shifting their focus from China to India after two decades of heavy investment in China. Wall Street giants like Goldman Sachs and Morgan Stanley are now endorsing India as their prime investment destination for the next decade. The momentum towards India is evident in the financial world, with investment firms increasing their exposure to India citing reasons such as the country's fast-growing economy and expanding infrastructure under Prime Minister Narendra Modi's leadership.

India's rise as an investment hotspot is fueled by its contrasting trajectory with China. While China grapples with economic challenges and geopolitical tensions, India presents itself as a stable and attractive alternative. Despite the optimism, challenges remain. Indian equities are among the most expensive in the world. However, proponents of investing in India remain bullish for the long term, believing that India's low per capita income and ongoing reforms set the stage for multi-year expansion and new market opportunities.

I hope this summary is helpful!

chetak · Post by **chetak** » 20 Feb 2024 18:22

https://www.youtube.com/watch?v=WSiE1gqj7rE

Is An MSP Law Feasible Economics & Smart Politics?

Amidst ongoing tensions, farmer leaders have rejected the government's MSP proposal and vowed to press forward with the 'Delhi Chalo' march.

The unions have opposed the central government’s five-proposal for crop diversification in Punjab, under which government promoted cooperatives would enter into five-year contracts to procure five crops – tur (arhar), urad, masur (lentil), maize and cotton at a minimum support price, with no limit on quantity.

And while the negotiations seem deadlocked, interesting insights from experts suggest that the demand of the farmers, primarily from Punjab, shows the relative decline in the role of the state to feed India.

Watch this debate by Siddharth Zarabi, Managing Editor, Business Today TV who spoke with Yashwant Deshmukh, Founder-Director, C-Voter; Pushpendra Singh, President, Kisan Shakti Sangh and Sanjeeb Mukherjee, Agriculture Editor, Business Standard

Cyrano · Post by **Cyrano** » 21 Feb 2024 15:33

Excellent discussion in Hindi on a wide range of topics related to the economy by people who are quite close to sarkaar:

VinodTK · Post by **VinodTK** » 26 Feb 2024 07:07

https://timesofindia.indiatimes.com/ind ... 991534.cms

Poverty level significantly down to 5%, says Niti CEO

vera_k · Post by **vera_k** » 26 Feb 2024 08:44

^ Comments on the article are questioning how this can be when most of the country gets food subsidies.