Indian Economy: News and Discussion

[HariPrasad-1]

Gobar times posts a 5+ minute video on why India is bad for Tesla’s new plant.
But they will never explain why BYD applied for a $1Bn plant in the same India

l
In China, every company and businessman is at the mercy of Dictator Xi. Eher is Jack Ma?

 

[no smoking]

All Musk’s sales hoopla in China has ended. The Chinese copied and built millions of their own cheap cars and have begun export, hence leaving Tesla flat or declining sales in the near future.

Is that your religious belief?
Telsa's products, even the Model 3, are generally treated in higher range comparing to Chinese local products.
There are plenty of Chinese online videos prove that by disassembling Tesla and BYD cars side by side. From design, manufacturing quality to components, they are different classes.

 

[thebakofbakchod]

Almost all south indian regions are reporting a steep fall in infant mortality. But some of this sounds way too good to be true. IMR from 24 to 8 in just 3 years in tribal dominated area sounds like deaths are simply being recorded elsewhere. We will only get to know the actual figures if/when the gormint releases the SRS data again

‘prism 10’ Helped Slash Imr In Manyam District | Visakhapatnam News - Times of India

Visakhapatnam: The PRISM 10 (project for reduction of infants' mortality below 10) initiative taken up by the district administration of Parvathipuram.

timesofindia.indiatimes.com

 

[Tejbrahmastra]

https://www.financialexpress.com/life/technology-

tata-electronics-prepares-ground-for-high-end-chips-3465109/lite/

 

[Blademaster]

https://www.financialexpress.com/life/technology-

tata-electronics-prepares-ground-for-high-end-chips-3465109/lite/
View attachment 249689

That is the way to go. We get 28 nm and then 14 nm and then we master the 7 nm and India should be self reliant on chips even it means that we are still behind the western world.

We need to start manufacturing our own DUV machines and EUV machines. We have to break that ASML monopoly.

 

[MuffleParch]

 

[DingDong]

 

[nongaddarliberal]

No growth in exports since last year. In fact, overall picture is that both exports and forex reserves have been flat for the past 3 years, since 2021. Growing the domestic economy will be unsustainable unless exports and forex also grow proportionately at 7-8% a year, which is far from the case now. Anyone knows why both these metrics have been flat?

Indian export to key markets tepid in FY24, blamed on global tensions

While overall exports dropped by 2.4% annually in value terms in FY24, shipments to the US declined by 1%, and exports to Europe rose by only 1.47%

www.google.com

https://www.reuters.com/markets/commodities/indias-polished-diamond-exports-drop-275-key-markets-falter-2024-04-22/

 

[sameer3694]

Anyone knows why both these metrics have been flat?

We export a lot of refined crude products whose value went down after the initial spikes due to Rus-Ukr war in 2022. We were able to compensate for it in other areas though, so the figures were able to come somewhat close to last years.

As for forex reserves, I don't remember the exact numbers but it reached a peak sometime in 2021. RBI then spent almost a $100 Bn in the interim defending the rupee against downward pressure due to high crude import prices and deficits. Now it's slowly going back up again to what it was in 2021.

One good positive though is that this year our engineering, electronic and pharma exports went up.

 

[Atavistic]

Hope now the battle between the states will settle down . Already told this car is the most overhyped one and Elon is a wignat

 

[thebakofbakchod]

https://www.reuters.com/world/india/jsw-amara-raja-reliance-submit-bids-make-batteries-india-2024-04-23/

 

[FalconSlayers]

India's GDP growth can average 7.5% till 2030: Nomura

Read more at:

India's GDP growth can average 7.5% till 2030: Nomura

The Tokyo-headquartered investment banking firm said India's GDP growth is likely to average 7% from 2024-25 to 2029-30.

economictimes.indiatimes.com

 

[thebakofbakchod]

Amara Raja Batteries Limited (ARBL), one of India’s leading industrial and automotive battery majors on Saturday held a grand foundation ceremony for Telangana’s first gigafactory in Mahbubnagar district.

This company has a large facility under construction in Telangana

 

[Cheepek]

How did America become the nation of credit cards? | Aeon Essays

Americans have always borrowed, but how exactly did their lives become so entangled with the power of plastic cards?

aeon.co

 

[Crazywithmath]

No growth in exports since last year. In fact, overall picture is that both exports and forex reserves have been flat for the past 3 years, since 2021. Growing the domestic economy will be unsustainable unless exports and forex also grow proportionately at 7-8% a year, which is far from the case now. Anyone knows why both these metrics have been flat?

Indian export to key markets tepid in FY24, blamed on global tensions

While overall exports dropped by 2.4% annually in value terms in FY24, shipments to the US declined by 1%, and exports to Europe rose by only 1.47%

www.google.com

https://www.reuters.com/markets/commodities/indias-polished-diamond-exports-drop-275-key-markets-falter-2024-04-22/

Volumewise increase is there. But globally, prices have fallen (for refined petro products etc) - hence, the stagnation. Also, stuffs like electronics/solar are still at a very nascent stage (despite more than decent growth); will start contributing significantly in 4-5 years.

And lastly, global economy is pretty messed up atm. Global trade has declined y-o-y and all the major exporters are struggling.

 

[Cheran]

FYI, RBI has banned Kotak Mahindra Bank from on-boarding new customers.

Purely because of non compliance in IT infrastructure aka they have a primitive IT network/server/security setup which has not been upgraded despite reminders.

The RBI order will not impact the existing banking and credit card customers of the bank. However, now nobody can get a new credit card from the bank, and nobody can open a new account through the portal or the app

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57769

This looks very bad IT infra....

 

[Cheepek]

FYI, RBI has banned Kotak Mahindra Bank from on-boarding new customers.

Purely because of non compliance in IT infrastructure aka they have a primitive IT network/server/security setup which has not been upgraded despite reminders.

The RBI order will not impact the existing banking and credit card customers of the bank. However, now nobody can get a new credit card from the bank, and nobody can open a new account through the portal or the app

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57769

View attachment 249903

This looks very bad IT infra....

Looks like a data leak?

 

[Cheran]

Looks like a data leak?

No news so far regarding data breach.

Hopefully this action by RBI causes them to do the needful.

 

[shade]

Hope now the battle between the states will settle down . Already told this car is the most overhyped one and Elon is a wignat

He can be smart like the Apple guys and setup a plant here and allow imports of his cars, you know as a plan B in the fastest growing major economy in the world that will have consumers now and in the future.

Or he can continue to beg, plead and grovel at Emperor Xi's feet to get his subjects to buy his filthy American cars instead of fabulous BYD made in China patriotic electric cars, all the while the same BYD and assorted other chink car merchants ass-fuck his company and all other gora merchants across North America and the EU.

The only reason govt isn't courting BYD here is because they know Suzuki, Hyundai, Tata and Mahindra lalajis will be totally wiped out, like how Micromax and Lava were thrown the fuck out of the smartphone market.
The same will happen with those import-and-sell TWS headphone merchants too inshallah.

 

[Crazywithmath]

He can be smart like the Apple guys and setup a plant here and allow imports of his cars, you know as a plan B in the fastest growing major economy in the world that will have consumers now and in the future.

Or he can continue to beg, plead and grovel at Emperor Xi's feet to get his subjects to buy his filthy American cars instead of fabulous BYD made in China patriotic electric cars, all the while the same BYD and assorted other chink car merchants ass-fuck his company and all other gora merchants across North America and the EU.

The only reason govt isn't courting BYD here is because they know Suzuki, Hyundai, Tata and Mahindra lalajis will be totally wiped out, like how Micromax and Lava were thrown the fuck out of the smartphone market.
The same will happen with those import-and-sell TWS headphone merchants too inshallah.

They should go after all those chinku smartphone brands doing business in India; quite literally a national security threat!

But Elon has to come and set up shop in India eventually; his company has been conceding market share at a breakneck pace in cheeniland.