Indian Economy-News & Updates

[patentneer]

@Raftaar, Modi's 'make in India' is a hit with 'China' companies!
Unbelievable, but the world's largest stuffed toy manufacturer is a China biz. with its LARGEST works in India' s South. Local market size is the key differentiator for primarily rich and Global Southern Chinese companies to set up shop in India. Cheap labour too, but also how China's main economic driver being Global south China businesses with their seamless HK-Sing.-Taiwan-Malaysia etc. networks and the ease with which they can nimbly set up mass market ops in India thanks to historical and cultural connectivity. Think Tamil !

China has been moving out if mass manufacturing as a stated policy goal. If China is the world's factory, India is likely to become China's factory since mass manufacturing is soon to become unsustainable in China mainly re. coming population crash. Funny, it's actually Chinese mass market consumption that will drive low end China led mass manufacturing in India.

India's booming auto industry has already set the mould and Global manufacturers not only source from India but supply nominal regional markets from India already. Again, the key differentiator is massive local demand. Global auto majors run some of their biggest, most profitable plants and sourcing ops from India. An entire eco-system of lawyers, accountants, export-import, Quality Control, technical types, consultants and marketeers grew up extending from the centuries old textile businesses.

All of the above are flexing, jiving and extending themselves in all directions and will naturally step in with South China types. Exciting times ahead.

 

[Raftaar]

@Raftaar, Modi's 'make in India' is a hit with 'China' companies!
Unbelievable, but the world's largest stuffed toy manufacturer is a China biz. with its LARGEST works in India' s South. Local market size is the key differentiator for primarily rich and Global Southern Chinese companies to set up shop in India. Cheap labour too, but also how China's main economic driver being Global south China businesses with their seamless HK-Sing.-Taiwan-Malaysia etc. networks and the ease with which they can nimbly set up mass market ops in India thanks to historical and cultural connectivity. Think Tamil !

China has been moving out if mass manufacturing as a stated policy goal. If China is the world's factory, India is likely to become China's factory since mass manufacturing is soon to become unsustainable in China mainly re. coming population crash. Funny, it's actually Chinese mass market consumption that will drive low end China led mass manufacturing in India.

India's booming auto industry has already set the mould and Global manufacturers not only source from India but supply nominal regional markets from India already. Again, the key differentiator is massive local demand. Global auto majors run some of their biggest, most profitable plants and sourcing ops from India. An entire eco-system of lawyers, accountants, export-import, Quality Control, technical types, consultants and marketeers grew up extending from the centuries old textile businesses.

All of the above are flexing, jiving and extending themselves in all directions and will naturally step in with South China types. Exciting times ahead.

Agreed ! Indias next big thing ! Even one of my boss left his cushy job in london as a consultant to return to india n start up here ! We need 10 more years n NDA government in place to reach dere .

 

[Sky lord]

BJP will have numbers in Parliament to pass GST by July 2016, says Morgan Stanley - The Economic Times

 

[Abingdonboy]

@PARIKRAMA @MilSpec @Nilgiri @Sky lord @skyisthelimit @Parul @nair @anant_s @ranjeet @Levina @Star Wars @nokss @Raftaar

 

[ranjeet]

 

[Nilgiri]

The crux will be the Aadhar linking to fertilizer subsidy. That is apparently on the anvil.

It will really set up the next budget very nicely (fiscally) and cut immense black money and political pilfering.

 

[patentneer]

Twenty percent farmers are millionaires. Fertiliser is big bang reform but two things. Core input, gas and crude, have seen price crash and lots of local gas is coming online. Finally, with Gujarat model power reaching farmers, a hell of a lot more non-crude farm mechanisation, pre-processing and packing is on. Modi govt. is big and experienced in farm issues re. Gujarat Vs. Mnrega. Gujarat's success came from Prosperity Vs. Social security driven model. Modi's gonna ace farm fertilizer subsidy issue.

 

[patentneer]

1 thing about India right now is that it is positive and substantially dominated by Japan and Korea Co's.

The Chinese will lap up the lower end of the markets maybe, Indian Co's have already built up large positions in the lower markets. The prize being too big, Chinese Co's with unlimited funds will put on a good fight for sure. Jack Ma is big on India. So are overseas Chinese Co's. It's an ultra sophisticated market with nimble local and global players. Interesting times ahead.

Politicians favour Japan, Korea and developed country investment because of jobs patronage, labour, sub-sub K's and other leverge opportunities.

 

[Raftaar]

FINALLY......................My Dear friends............

Air India expects Rs 8 crore operating profit this fiscal: MoS civil aviation

With substantial improvement, Air India is expected to post an operating profit of Rs 8 crore in the current fiscal, the government said on Tuesday.

This would also be the first time since the merger of Air India and Indian Airlines that the national carrier would be reporting an operating profit.

Minister of State for Civil Aviation Mahesh Sharma told Rajya Sabha that Air India is expected to "post substantial improvements" according to the revised estimates of 2015-16, compared to the previous financial year.

Complete news at :
Air India expects Rs 8 crore operating profit this fiscal: MoS civil aviation | Business Standard News

 

[Raftaar]

Indian Oil, Bharat-Petroleum and Oil India buy 29.9 % stake in Russian Oil field for $ 1.3 Billion : The Economic Times

ONGC Videsh Ltd (OVL), Indian Oil Corporation (IOC), Oil India (OIL) and Bharat Petroleum Corporation Limited (BPCL), is going to buy about 35% additional stake in Russia's Vankor oil field in Siberia for close to $3 billion.

OVL, the overseas arm of the state-owned Oil and Natural Gas Corp (ONGC), had on September 4 last year agreed to buy 15% stake in Russia's second-biggest oil field of Vankor from Rosneft for $1.26 billion.

While the 15% deal is yet to be concluded, Rosneft is now agreeable to selling a total of 49.9% in Vankor to Indian firms, an official said.

Of the 49.9% stake offered, OVL will take 26% (including 15% agreed in September last year) and the rest 23.9% will be split equally between IOC, OIL and Bharat PetroResources Ltd (BPRL), a unit of BPCL.

An MoU for this may be signed when Rosneft boss Igor Sechin will visit India next week, he said, adding that the additional 34.9% stake may come for $2.9 billion.

A separate pact to formalise the December MoU for IOC, OIL and BRPL buying a 29% stake in the Taas-Yuriakh oil field in East Siberia may also be inked during the visit.

The stake in Taas-Yuriakh, which is expected to produce 5 million tonnes of oil annually, may cost around $1 billion, going by Rosneft's deal last year to sell 20% stake in it to British Petroleum for $750 million.

The official said originally OVL was negotiating to buy 25% stake in Vankorneft, the developer of the Vankor oil and gas condensate field in Turukhansky district of Krasnoyak Territory in Russia.

But Rosneft was willing to give no more than 10%. A 10% stake would not have given OVL a position on board of Vankorneft and so, the Indian firm pressed hard and got a higher 15% interest with right to nominate two board members.

Vankor has recoverable reserves of 2.5 billion barrels. The 15% stake guarantees OVL 3.3 million tonnes a year of oil.

Rosneft, Russia's national oil company, held 100% stake in Vankorneft. Acquisition by OVL is subject to relevant board, government and regulatory approvals and is expected to be completed by mid-2016, he said.

The 15% stake buy in Vankor was the fourth-biggest acquisition by OVL. In 2013, it had paid $4.12 billion for a 16% stake in Mozambique's offshore Rovuma Area 1, which holds as much as 75 trillion cubic feet of gas reserves.

In 2009, it had bought Russia-focussed Imperial Energy for $2.1 billion. Prior to that, it had in 2001 paid $1.7 billion for a 20% interest in the Sakhalin-1 oil and gas field off Russia's far eastern coast.

Vankor is Rosneft's (and Russia's) second-largest field by production and accounts for 4% of Russian output. It produces around 4,42,000 barrels of crude oil per day.

 

[ranjeet]

Over 1 crore LPG users gave up their subsidies

http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[commander jain]

India will become $10 trillion economy and achieve growth rate of 10 per cent by 2032, Niti Aayog chief executive officer Amitabh Kant said on Thursday.

The country's growth rate was 7.6 per cent in 2015-16 and its economy worth $1.7 trillion.
In a presentation made during Civil Services Day function attended by Prime Minister Narendra Modi and large number of civil servants, he projected creation of 175 millions jobs and zero per cent of Below Poverty Line (BPL) population by 2032.

"Growing at 10 per cent will transform India. India will be a $10 trillion economy with no poverty in 2032," his presentation reads.

The presentation was made on the status of implementation of reports of 'Group of Secretaries' formed by the Modi government. A total of eight Group of Secretaries were formed in December last year on focus areas.

"These eight groups had officers from different ministries. Further, there were 16 groups of Joint Secretaries who simultaneously worked on their focus areas. We cut across silos so that we can act on the eight themes and act as agent of change," Kant said.

The groups has decided on sub-themes, Some of its recommendation have been acted on whereas a road map has been suggested for the rest to achieve intended target.

Under the sub-theme "accelerated growth", Kant said there will be Rs two lakh crore worth investment in roads and railways in Financial Year 2017. It intends to complete 10,000 km of road project during the same period.READ MORE AT :> http://www.indiandaily.in/india-become-10-trillion-economy-10-growthniti-aayog-chief/

 

[Abingdonboy]

Another Indian brain fart. India is hardly growing at 7% and they dream of 10%

"barely"= 7.5-7.6%?


GST will add 1-1.5% of GDP growth annually if it ever gets passed

 

[Spectre]

Another Indian brain fart. India is hardly growing at 7% and they dream of 10%

Post Reported

 

[nang2]

such a prediction is nothing but propaganda.