Indian Economy: News and Discussion

[ezsasa]

I have seen a surge in such articles only in the last 2 years, it started with those "3rd world shithole kids die after having cough syrup from no-name company from bumfuck-nowhere, Haryana" articles, then moved on to FDA complaints on big-name Pharma companies like Dr Reddy.

This has all started in the post wuhan virus times.

I am not defending the jhol, jugaad and chalta hai "standards" of our Big Pharma, but we can assume they have been doing this for decades now, but only now Uncle Sam's FDA discovered these malpractices?

Pharma products are one of our top exports after refined petroleum products and diamonds.

for casual outside observers like us, with the amount of info floating around these days, we will need better ways to decipher the info we see, preferably data oriented, to figure out if any trend that shows up is within norm or an aberration. if there is a industry, there will be industry watchers who keep track of trends, their reports usually gives clues on trends if there is something alarming.

ideally DFI should have had members who are dedicated watchers to track long term trends on topics of their interest, instead of getting alarmed everytime we see some news, we could just ask those one or two members to get clarity. unfortunately only a few members are interested in taking up long term trends on dedicated topics.

 

[Comett]

 

[shade]

for casual outside observers like us, with the amount of info floating around these days, we will need better ways to decipher the info we see, preferably data oriented, to figure out if any trend that shows up is within norm or an aberration. if there is a industry, there will be industry watchers who keep track of trends, their reports usually gives clues on trends if there is something alarming.

ideally DFI should have had members who are dedicated watchers to track long term trends on topics of their interest, instead of getting alarmed everytime we see some news, we could just ask those one or two members to get clarity. unfortunately only a few members are interested in taking up long term trends on dedicated topics.

You could also see it as MSM reporting routine QC violations and FDA warning as part of setting an anti-Indian Pharma narrative for both US govt/congress and US public consumption.

Govt/Congress for a possible ban and regulatory action, after all the politicians there are also lazy af and are not pro-active but reactive.
Public so that the average burger avoids buying made in India generic drugs.

 

[Varoon2]

It would be uplifting to read of the success stories and favourable testimonials, of Indian made pharma, from different countries. There must be many. But what seems to get the most reportage are USA investigations on quality, and of course supposed horror stories like the cough syrup disaster.

 

[Cheepek]

Re: spices, we exported spices worth $4.3B last year.

While the regulatory authority Spices Board of India, which is responsible for testing & certification for exports has just 243 employees and 9 (underequipped?) labs.

Look at the consignments that were marked serious risk last year by EU. It's not a fluke!

So things are not black and white.
It would go a long way if government earmarks some % of budget to augment and strengthen capabilities of our regulatory bodies.

 

[ezsasa]

Re: spices, we exported spices worth $4.3B last year.

View attachment 251424

While the regulatory authority Spices Board of India, which is responsible for testing & certification for exports has just 243 employees and 9 (underequipped?) labs.


View attachment 251425


Look at the consignments that were marked serious risk last year by EU. It's not a fluke!

View attachment 251426

So things are not black and white.
It would go a long way if government earmarks some % of budget to augment and strengthen capabilities of our regulatory bodies.

consignment rejection out of how many total exports?

 

[shade]

Re: spices, we exported spices worth $4.3B last year.

View attachment 251424

While the regulatory authority Spices Board of India, which is responsible for testing & certification for exports has just 243 employees and 9 (underequipped?) labs.


View attachment 251425


Look at the consignments that were marked serious risk last year by EU. It's not a fluke!

View attachment 251426

So things are not black and white.
It would go a long way if government earmarks some % of budget to augment and strengthen capabilities of our regulatory bodies.

Spices as in whole or (((powders?)))

 

[Cheepek]

consignment rejection out of how many total exports?

There were a total of 324 notifications in that time period

Application name

webgate.ec.europa.eu

 

[Cheepek]

Spices as in whole or (((powders?)))

I guess most may be processed spices(?)

 

[ezsasa]

There were a total of 324 notifications in that time period

Application name

webgate.ec.europa.eu

from the same report using different country same selection criteria, turkey has close to 400, US has 200, UK has 88.
may be those numbers are not as alarming as mint is trying to portray, as far as remedial measures go it's for industry to figure out what not to do.

 

[MrPresident]

Why do we need enemies when we have people like this in the country.

https://www.cnbc.com/2024/05/02/indias-economic-growth-rate-has-some-fluff-former-rbi-governor-.html

 

[Azaad]

Thousands of India’s MSMEs cancel registration as payment deadline hits business

A new rule mandating a 45-day deadline for payments due to micro, small, and medium enterprises (MSME) took effect on April 1. Traders in Gujarat are moving court blaming the new rule for orders drying up.

www.cnbctv18.com

Our banias seem very upset about being denied their God given privileges of playing with OPM - other people's money

 

[The Juggernaut]

 

[Haldilal]

Ya'll Nibbiars

The Sin Tax is an excise tax specifically levied on certain goods deemed harmful to society and individuals.

Owing a Car is a Sin in India.

 

[jai jaganath]

Can't wait shameless Ambanis to paste made in India over Chinese products
Heck it would be achievement if they even assemble
Hope this fails like their so called jiobook

 

[indus]

Can't wait shameless Ambanis to paste made in India over Chinese products
Heck it would be achievement if they even assemble
Hope this fails like their so called jiobook

They have purchased or (tried to) the defunct brand BPL. May be its BPL in a new avatar

 

[shade]

Can't wait shameless Ambanis to paste made in India over Chinese products
Heck it would be achievement if they even assemble
Hope this fails like their so called jiobook

These are Hisense or Haier chink shit rebadged as you said, but these will be peddled through Reliance Digital like Croma does with it's own appliances

 

[mamamia12]

Can't wait shameless Ambanis to paste made in India over Chinese products
Heck it would be achievement if they even assemble
Hope this fails like their so called jiobook

These Ambanis and Adanis are like Middle-Men, can't do honest work. Spends money on stupid shit instead of r&d. They didn't bring anything to table to make India a more Self-Reliant interms of Technology unlike Industrialists i.e Tatas, Jindals, Godrejs and especially L&T which is a gem. They just fucking turn on the business switch. The Refinery Equipment /Telecom Equipment is brought from others. The Refineries/Telecom Infra is also built by others. The Oil is again not theirs. They are just the "Middlemen" whom can be seen in every fucking country. Recently L&T has been winning many Projects outside India to build "Stuff". Even Lazy erstwhile Industrialist Origin companies like Tata, Mahindra have been making some exports. This guy and his company with the plethora of money just drain all that money in gutter weddings and shit.

 

[jai jaganath]

These Ambanis and Adanis are like Middle-Men, can't do honest work. Spends money on stupid shit instead of r&d. They didn't bring anything to table to make India a more Self-Reliant interms of Technology unlike Industrialists i.e Tatas, Jindals, Godrejs and especially L&T which is a gem. They just fucking turn on the business switch. The Refinery Equipment /Telecom Equipment is brought from others. The Refineries/Telecom Infra is also built by others. The Oil is again not theirs. They are just the "Middlemen" whom can be seen in every fucking country. Recently L&T has been winning many Projects outside India to build "Stuff". Even Lazy erstwhile Industrialist Origin companies like Tata, Mahindra have been making some exports. This guy and his company with the plethora of money just drain all that money in gutter weddings and shit.

Even adani is better than Ambanis
They atleast made silicon ingot for solar panel manufacturing

 

[shade]

These Ambanis and Adanis are like Middle-Men, can't do honest work. Spends money on stupid shit instead of r&d. They didn't bring anything to table to make India a more Self-Reliant interms of Technology unlike Industrialists i.e Tatas, Jindals, Godrejs and especially L&T which is a gem. They just fucking turn on the business switch. The Refinery Equipment /Telecom Equipment is brought from others. The Refineries/Telecom Infra is also built by others. The Oil is again not theirs. They are just the "Middlemen" whom can be seen in every fucking country. Recently L&T has been winning many Projects outside India to build "Stuff". Even Lazy erstwhile Industrialist Origin companies like Tata, Mahindra have been making some exports. This guy and his company with the plethora of money just drain all that money in gutter weddings and shit.

Ambani refines crude in his largest refinery in the world which is then exported and brings in money for the country, aside from jobs provided.
Jio has revolutionized the telecoms market from what it was before.

Ambani's flaw is that he is a massive pussy in terms of investing in Govt-pasand sectors like electronics as compared to Tata, and burns money on his stupid family functions.
He also is pozzing the entire Supermarket sector thanks to Biyani going bankrupt during wuhan virus times.

Adani mainly builds and runs ports and other infrastructure, recently he's also into solar panel manufacturing right from the ingot level.

You can continue forthing at the mouth like a Piddi though, none of the industrialists you have mentioned so anything to make India SeLf ReLiAnT, L&T is also an infrastructure building company similar to Adanis.