What's new

Indian Economy-News & Updates

How is the plan?

  • Good

    Votes: 161 61.7%
  • Average

    Votes: 53 20.3%
  • Poor

    Votes: 47 18.0%

  • Total voters
    261
NO pharma,

especially Indian pharma is big in generic medicines

NO pharma,

especially Indian pharma is big in generic medicines
 
.
Then why Asean and east Asia countries export still grow 5-10% in 2012?

Many of these listed export goods are also in high demand in India. And since Indias demands are growing while our production facilities are still underdeveloped, we cant export much. Furthermore there are tons of policy reasons which are hampering all fields in our economy.
Together with the sluggish global economy, our exports shrunk to this level.
 
.
NO pharma,

especially Indian pharma is big in generic medicines

NO pharma,

especially Indian pharma is big in generic medicines
It's there :cheers:

RyOqJat.jpg
 
.
This is why we need Modi.

common-vision-of-barack-obama-narendra-modi

This morning, while I was enjoying President Barack Obama deliver his State of the Union address (I must confess he is among my favourite orators), I got a sense of deja vu. My mind could not help but go back to the speech of another dynamic politician who had just a week ago touched upon the same issues that Obama did and even delivered on most of what Obama only spoke- that leader is none other than Gujarat Chief Minister Narendra Modi. As I was hearing Obama speaking, I felt as if I was seated inside the packed auditorium at SRCC listening to Modi or a seminar at the Vibrant Gujarat summit.

.......What Obama said is no different from Modi's visionary approach that has made Gujarat the top employment creator in the country with 72% of the jobs generated in the nation coming from Gujarat. Gujarat also has the lowest unemployment rate in the nation.

At a time when issues like outsourcing are burning issues in USA, Modi went a step ahead and repeatedly said that there is no part of India whose child is not coming to Gujarat to earn a livelihood- a livelihood with peace and dignity!

Manufacturing, Innovation and Manufacturing Innovators Re-invigorating the manufacturing sector was a key part of Obama's speech. He threw light on how Caterpillar is bringing jobs back from Japan, how Intel is opening plants at home, Apple making Macs in USA or Americans buying more American cars today than they did 5 years ago. All this points to a crystal clear vision for the development of the manufacturing sector, which is the need of the hour in the 21st century. In one of the events in the run-up to the Vibrant Gujarat Summit 2013 Narendra Modi touched on precisely the same theme. He gave a Mantra of ‘Zero Defect' and improving the packaging for strengthening the manufacturing sector. He is the only leader in my living memory who is talking about a ‘Made in India' brand in a time when the Centre is all set to sell the interests of the nation to foreigners. Another aspect Modi has given great stress to in the last few years is a spirit of innovation. Time and again he has called the youth to innovate, come out with new ideas so that the development of Gujarat can pick even greater pace. In Sep 2011 he launched iCreate, an incubation centre for youngsters- if youth has the ideas, the Gujarat Government has the platform to convert their dreams into reality, was the message he gave. This is exactly what Obama touched upon during his State of the Union address. Obama directly linked innovation as a precursor to strengthening the manufacturing sector. He also shared that the Government created a first-ever manufacturing innovation institute in Ohio and called for the same across other cities. Obama talks middle class & their aspirations In a polity plagued by a Mai-Baap syndrome and where the name of one's great grandfather matters more than the work you do, Narendra Modi emerges as a welcome break!

During the 2012 Gujarat Vidhan Sabha campaign he became the first politician to speak about a ‘neo-middle class' and their well being, challenging the conventional political wisdom that only talking ‘Aam Admi' is cool and the rest is immaterial. This visionary approach was backed by work on the ground and also paid rich dividends to Modi in the elections. On similar lines, Obama passionately spoke on the need to create a strong middle class. "It is our generation's task, then, to reignite the true engine of America's economic growth- a rising, thriving middle-class." Both leaders realize that the middle class is the fulcrum for a developed society and no society can really progress if the middle class is unhappy. NaMo and BO talk green On repeated occasions Narendra Modi has said that the three pillars on which our future rests is IT (Information Technology), BT (Bio Technology) and ET (Environment Technology). As more and world cities, including Beijing jump into environmental degradation Gujarat under Modi has taken great strides in mitigating climate change. At the crux of these initiatives is Modi's belief that we need to mitigate the menace of climate change not for ourselves but for our futures. No wonder that Gujarat is among the 4 states in the world to have a separate department for climate change. Gujarat's strides in all forms of renewable energy are already well known.

Modi's book ‘Convenient Action' is a great read for those who wish to know how a state Government can make the world a cleaner place to live in. What Obama's fellow Democrat called an inconvenient truth, Modi has given convenient actions for a happier future! No wonder when Obama spoke about doing for on climate change for our children and future and about the need to shine in solar and wind power, I remembered countless Modi speeches during Van Mahotsavs or when he dedicated to the nation Asia's largest solar park in Charanka. Perhaps on his next visit here, Obama should consider visiting the solar park and the first canal top solar power project. Skill Development for youngsters... One thing Obama pointed beautifully what that we may take numerous initiatives in manufacturing, energy, infrastructure or hosing but none of it will matter unless we equip citizens with skills and training. And he called for the same to start very early. At SRCC, Narendra Modi talked at length about Gujarat's initiatives for skill development. If there is one state that has taken the effort of strengthening our youth with the necessary skills it is Gujarat. The state's initiatives to transform the Industrial Training Institutes (ITI) can be a case study in any public policy institution or top B-School!

While Obama said, "Let us also make sure that a high school diploma puts our kids on a path to a good job", Modi has altered the ITI structure in a way that the door of opportunity does not shut on any youngster. Creating a record, he handed over 65,000 job letters to youngsters from ITI in at time of 1 week! Obama mentioned the recent rise in instances of gun violence in the USA. This is surely a matter of great concern and is also a product of rising unemployment and lack of opportunities for the youngsters. An atmosphere of pessimism and gloom coupled with no jobs can create chaos in a society. Even the solution to this sociological problem was given by Narendra Modi at SRCC when he categorically said development and only development is the solution to all problems!

When Modi was doing his Google+ hangout in August last year, the media was abuzz with ‘Modi does an Obama' stories. Modi's Hangout was a path breaking initiative and in a week it managed to get over 555,000 views (Obama's Hangout has about 712,000 viewers after 7 months of the session) and left the youth enchanted. After hearing Modi's comprehensive SRCC speech and Obama's State of the Union that sets the tone for his policies in the coming year, I can now safely say that it is Obama who has done a Modi!

Obama speak :

- It's not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth.
- Our first priority is making America a magnet for new jobs and manufacturing.
- It is our generation's task, then, to reignite the true engine of America's economic growth - a rising, thriving middle class.

Modi speak:

- I believe in minimum government, maximum Governance.
- Let us make the world our market and send our goods to the world.
- I am sure the youth of India will fulfill Swami Vivekananda's dream of Jagad Guru Bharat.
 
. .
France asks India to further liberalise services, auto sector
NEW DELHI: France today asked India to further open its market for foreign companies in sectors like services and automobile under the India-EU free trade agreement.

"We are negotiating an FTA but we are still facing problems...from our side we still have few questions on liberalisation of services sector on Indian part...some difficulties in automobile sector," French Minister for Foreign Trade Nicole Bricq said.

She was addressing the members of business chambers - CII, Ficci and Assocham.

India and the 27-nation bloc Europen Union are negotiating the Bilateral Trade and Investment Agreement (BTIA) since June 2007 and have missed several deadlines to conclude the talks due to differences among the two sides on the level of opening up of the markets.

"...if we can rebalance our trade exchanges, it will be favourable (for the free trade agreement)," she said.

However, Bricq said that both the sides have increased the meeting at all levels including at the technical level to fast-track the talks.

A ministerial level talk is expected on the pact by end of this month, she added.

Speaking at the occasion, Commerce and Industry Minister Anand Sharma expressed hope that the negotiations would be finalised by this summer.

On visa issue, Bricq said that France is working to further liberalise visa regime for both businessmen and young research students.

"...there are some issues on visa. I have discussed the issue with my home minister. We are working towards making it more liberal," she said adding there is also a need to remove all trade and non-trade barriers to boot two-way commerce.

The visiting French President Francois Hollande said that huge opportunities are present in both the countries to strengthen economic relationship between the countries.

"There is no sector that cannot be covered by both the countries. We have many areas where great deal of potential is there for cooperation like in energy, transport, audio-visual and retail," Hollande said.

Inviting investments from India, the President said that France would further open its market.

"Our companies have technology advantage and we are ready to share that advantage with you...there is a need to establish personal links so that our companies can find room for expansion," he added.

Trade between India and France was valued at USD 8.89 billion in 2011-12.
 
.
Bajaj to be first Indian auto firm to make bikes for US roads

1360570415A6404.jpg


Come early 2014, Bajaj Auto would become the first Indian automobile company whose India-made motorcycle would burn rubber in the US.

The Indian motorcycle maker would manufacture street bikes for its Austrian partner, KTM AG, which has so far been selling only off-road bikes in the US. The stylish, high-performance and race-oriented bike model, KTM Duke 390, would be produced at Bajaj’s Chakan plant, near Pune.

In an interview with Business Standard, KTM-Sportmotorcycle AG CEO Stefan Pierer says: “It is a strategic decision with Bajaj to go for sporty, stylish motorcycles, even for the saturated markets, because cars have become too expensive. We are entering the US street-bike segment for the first time and, beginning next year, the Duke 390, built in India, would be sold in the US market.”

The US is the world’s biggest market for high-end super bikes (above 990cc). However, the ongoing financial crises have forced consumers to scale down to more affordable, efficient and easy-on-pocket products.

The Duke 390, to be launched in Europe by the middle of this year, followed by India, before the US, has been developed under a joint programme of Bajaj and KTM engineers. Its concept was developed in Austria, while everything else, including design and final product development, was done in India by Bajaj.

Before this, Bajaj Auto, which owns stake in KTM, successfully launched two models — Duke 200 and Duke 125 — which were built and sold in India and exported to Europe and other markets.

Pierer adds: “These small-displacement street bikes are ideal for urban commuting, especially in saturated markets like the US and Europe.”

“What we are talking about are powerful (40-44 bhp) but affordable bikes; at 138 kg, these are powerful and agile. With a target price of ^5,000, including VAT, we think it could be a big success,” he adds.

Riding high on India-made smaller bikes, KTM dethroned German giant BMW last year to become Europe’s largest bike maker, with sales of 107,000 units, as against BMW’s 106,000.

The plan forward is to rapidly ramp up production from India and simultaneously hunt for newer markets in the Asean region and Latin America.

In some Asian markets, Bajaj has a strong network of its own, while in others it taps into resources of its other partner Kawasaki. Similarly, the Pune-based bike manufacturer, India’s second-biggest, has a strong infrastructure in Latin America, too.

Pierer sees a multi-fold increase in production from Chakan in the next five years — to at least 100,000 units a year from 17,000 as of last year. This would be half the total expected output for KTM globally by that time.

“We would produce 200,000 units a year; of that, 100,000 would come from India. We expect sales of 10,000 Duke 390s in Europe and the US. India and other regions would be additional,” Pierer adds.

Bajaj to be first Indian auto firm to make bikes for US roads
 
.
What about call center freaks? You can't even call your TV network without one of these Indian call center freaks answering with the funniest accent ever
 
.
7. Nuclear reactors, boilers, machinery and mechanical appliances constituted 3.57% of India’s total exports.

Nuclear Reactors seem to be a typographical error, it should have been Chemical reactors (Pressure vessels used for high temperature reactions such as hydro-carbon and bulk chemical manufacturers).
 
.
Nuclear Reactors seem to be a typographical error, it should have been Chemical reactors (Pressure vessels used for high temperature reactions such as hydro-carbon and bulk chemical manufacturers).

It is not. Read again from the first post.
 
.
It is not. Read again from the first post.

Sir, trust me India till date hasn't exported a single nuclear reactor.
There have been plans to export Indian version of PHWR of 220 MWe caapcity but thats it no exports till date
 
. .
India's inflation rate has dipped to a three-year low, giving more room to policymakers to take steps to revive its sluggish economy.

The Wholesale Price Index, India's main gauge of inflation, eased to 6.62% in January, down from 7.18% in December.

India's growth rate has dipped recently amid slowing exports, a decline in investment and subdued domestic demand.

India's central bank cut interest rates last month and a slowdown in inflation may see it ease its policies further.

"We are looking at a sharp and sustained downward trend, which should give the Reserve Bank of India the elbow room to go ahead at least with a couple of more rate cuts," said Abheek Barua, chief economist at HDFC Bank.

Mr Barua said he expects the central bank to cut rates in March and April.

Growth concerns
Earlier this month, India's statistical office lowered its growth forecast for the year to 31 March 2013, saying it now expects the economy to grow by just 5% during the period.

The central bank has also lowered its growth projection for the year to 5.5% from 5.8%.

India's economy has been hurt by a slowdown in exports and subdued domestic demand, the combination of which has affected the manufacturing and services sectors.

Meanwhile, a delay in key economic reforms has seen foreign investors become wary of entering the country.

That has led to concerns that India's growth rate may slow further in the coming months.

Prompted by these fears, policymakers have taken various steps to try and spur a fresh wave of economic growth.

Last month, India's central bank cut its key interest rate to 7.75% from 8%, the first such move in nine months.

It also lowered the amount of money that banks need to keep in reserve, a move it said should provide 180bn rupees ($3.4bn; £2.1bn) of extra cash for them to lend.
 
.
British Royal Mint makes first gold sovereigns in India in century

The commemorative sovereigns will be produced by Indian gold producer MMTC-PAMP using tools and techniques developed by the Royal Mint in its South Wales facility

Britain's Royal Mint has started to manufacture gold sovereign coins in India for the first time in almost 100 years, it said on Monday.

Indian residents have been unable to buy commemorative sovereigns since 1918, when the Royal Mint operated a branch in the country, producing 1.3 million coins in a single year.

The first production run will be for 50,000 pieces and will be available in the market immediately, the Royal Mint said in a statement that coincided with British Prime Minister David Cameron's visit to India.

The commemorative sovereigns will be produced by Indian gold producer MMTC-PAMP using tools and techniques developed by the Royal Mint in its South Wales facility.

India is the largest consumer of gold, with gold coins playing a key role in wedding ceremonies and festival celebrations throughout the year.

The country's gold medal market is estimated at around 80 tonnes a year by consultancy Thomson Reuters GFMS.

British Royal Mint makes first gold sovereigns in India in century - The Economic Times
 
.
Mercedes-Benz India increases investment to Rs 850 crore




Luxury car major Mercedes-Benz India has raised its investment to Rs 850 crore as part of the expansion plan of its factory at Pune, Managing Director and CEO Eberhard H Kern said.

Kern told reporters here today that India has become the second market outside the US to start local production of M-class SUV.

He said that the company would focus upon customer experience and "after-sales delight" in eastern India.

The move was part of the strategy to reinforce its footprint in the region where dealership in Bhubaneswar was already operational and that in Jamshedpur was on the anvil, Kern added.

About the focus on network growth of Mercedes-Benz, he said efforts were on for deepest network penetration for any luxury car manufacturer with 72 touch points located in 31 Indian cities.

The luxury carmaker sold 7,138 units of cars in 2012 as wholesale to its dealer partners achieving a benchmark in terms of overall sales in luxury cars in India.

He also announced 'benchmark Intercrafts' as the primary and high performance dealer in Kolkata for Mercedes-Benz.

Kern said Mercedes-Benz unveiled eight new products in 2012, including new M-class, C-class AMG performance edition and C-class sport edition.

"We hope 2013 will be a remarkable year for Mercedes-Benz in India," Kern said.

Mercedes-Benz India increases investment to Rs 850 crore - The Economic Times
 
.

Pakistan Affairs Latest Posts

Back
Top Bottom