Indian Economy : News,Discussions & Updates

Nilgiri

Senior member
Dec 4, 2017
635
1,502
This was actually a very good concise video on the manufacturing success in this sector (and automotive is another one relatively speaking).... but the conundrum/void in other manufacturing sectors for India:


How to replicate it in the shortfalls and voids that exist is what India needs to get focused on and fast.

Asianometry channel is overall a very good one to follow for those interested in economics + technology.
lol did some people switch display pics..... you guys and your games :ROFLMAO:
 
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_Anonymous_

Senior Member
Dec 4, 2017
17,337
13,260
Mumbai

I think this infographic highlights way more than it suggests. The old paradigm of 4 premier cities in India being Delhi, Mumbai, Kolkata & Chennai is fast being laid to rest.

What can one say when we have Pune, Chandigarh, Hyderabad & Ahmedabad contributing more than Kolkata & Kanpur being half of Kolkata?

BTW - no cities here in the top 10 from the state with the highest literacy & social indicators & soon to be Allah's own country in India .
 

RISING SUN

Senior member
Dec 3, 2017
13,909
6,289
We want FTA with leading economies. There is no way farming as it is now is viable under this circumstance. The only way out is farming on industrial scale. Small scale intensive farming will never be profitable for farmers. It's impossible. Never happened anywhere else in the world. Won't happen here.

Punjab farmers back at Adani silos to sell wheat to FCI​

Months after lifting the year-long siege at the Adani Group-run silos in Moga, over protest against the Centre’s now-repealed agricultural laws, local farmers are back at their doors instead of going to government procurement centres.

Reason: Farmers from nearby villages claim they save time and get hassle-free service at these silos constructed and operated by Adani Agro Logistics at Dagru village in Moga district.

Notably, the private firm has no control over the procurement process, as the silos have been rented by the Food Corporation of India (FCI), which purchases the crop from farmers at the minimum support price (MSP) fixed by the government as is being done by state agencies at mandis.

In October 2020, farmers had laid siege to the silos, bringing fresh procurement and transportation of the stored crop to a halt, soon after the Centre passed the three farm laws deregulating the system of government-run wholesale markets that the unions feared would leave them at the mercy of private players.

The protest was lifted after the laws were repealed in November last year. Now, farmers are again crowding the silos, but to unload their crop. Balbir Singh, a farmer waiting in a queue of tractor-trolleys with his produce, says it takes at least 24-30 hours for lifting the crop at mandis, but at the Adani silo they get free in less than 10 hours.

“We have to unload the wheat at mandis and use a winnowing fan to clean it before putting it into the gunny bags. Here, we directly unload our produce from trolleys,” he says.

Another farmer, Jasvir Singh, says the whole trolley is weighed at one time and they have to do nothing else. “We come here only for the hassle-free system; otherwise the price paid is the same. However, there are no other charges, including winnowing and cleaning labour, which costs around ₹15-16 per quintal,” he says. The total savings come to around ₹1,300-1,400 per trolley.

Procurement sees threefold jump

The silos, which got operational in 2007 with a capacity to store two-lakh tonnes of grain, were constructed after signing a 20-year contract with the FCI for providing storage and transportation infrastructure. Complete railhead exists within the silos premises, and bulk transportation is made using specialised trains.

The FCI pays ₹10 crore as rent to Adani Group for each procurement season to store agricultural produce. Other charges are paid separately, when produce is moved through trains.

Initially, the silos started directly procuring the wheat from farmers without involving arhtiyas (commission agents). It saved the commission amount, but hit the procurement process. In 2010, the FCI involved the arhtiyas, and is procuring around 70,000-80,000 tonnes grain through them every rabi season.


Amandeep Singh Soni, cluster manager, Adani Agri Logistics, Moga, said: “The company has no role in deciding the volume of storage as well as pricing of grain, as it’s only an infrastructure and service provider for the FCI, which controls the procurement and movement of food grains for the public distribution system (PDS). This year, 22,000 tonnes of grain has been stored in silos so far, compared to 7,000 tonnes during the same period in past years. Last year, there was no procurement due to the farmers’ protest.”

The company runs another silo at Faridkot district’s Kotkapura with a capacity to store 25,000 tonnes of food grain. Faridkot district food and civil supplies controller Jasjit Kaur said no procurement has been started by the FCI at the Kotkapura silos so far.


Meanwhile, there is a mixed response from farmer unions over the procurement process at Adani Group’s silos. Some groups are asking farmers to refrain, while some support it.

Sukhdev Singh Kokrikalan, general secretary of BKU (Ekta-Ugrahan), said that farmers are getting some small benefits by procurement through silos. Kirti Kisan Union vice-president Rajinder Singh Deep Singh Wala said farmers must oppose the private players as this will hurt them in future. “They will offer some relief to capture the market, and when government mandi system collapses, they will have all the control,” he alleged.
 

Butter Chicken

Senior member
Dec 2, 2017
1,265
1,235
IMF data for Indian subcontinent

Nominal
NoCountry2021 GDP (billion US$, current prices)2022 GDP (billion US$, current prices)2021 GDP per capita (US$, current prices)2022 GDP per capita (US$, current prices)Percent change
(constant prices)
1India3,041.9853,291.3982,185.3152,342.2638.153
2Bangladesh357.099396.5432,147.2742,361.9846.415
3Pakistan347.743n/a1,562.258n/a3.955
4Sri Lanka82.47281.9343,742.6783,698.5592.573
5Nepal34.52036.3151,163.9951,203.0854.135
6Maldives5.0705.50213,189.63614,078.4166.100
7Bhutan2.3972.6533,184.7853,491.2682.653


PPP
NoCountry2021 GDP (billion US$, current prices)2022 GDP (billion US$, current prices)2021 GDP per capita (US$, current prices)2022 GDP per capita (US$, current prices)Percent change
(constant prices)
1India10,218.62311,745.2607,340.9038,358.2998.153
2Pakistan1,329.5541,468.8625,973.1086,469.9953.955
3Bangladesh981.1231,113.6005,899.5946,633.0856.415
4Sri Lanka312.690340.86114,190.22815,386.7662.573
5Nepal124.876138.2004,210.8084,578.4504.135
6Maldives10.09711.38526,270.12929,132.6286.100
7Bhutan2.3972.6533,184.7853,491.2682.653
 

Tatvamasi

Senior member
Jan 5, 2018
1,197
1,223
India
FQsTHyVXoAQqfcy
 

Sunshine77

Member
Jan 26, 2022
15
10
Seoul
India total exports for 2021-22 at $669 billion,up by 34%

I looked at the Chinese customs data.
First three months of 2022
India imported 172.4 billion yuan(26.9billion $) worth of goods from China 25.6% increase, and exported 31 billion yuan(4.8billion $) worth of goods,decrease-27.5%,Trade deficit of $22.1 billion.
But South Korea has a $16.4 billion trade surplus with China,Taiwan has a $42.1 billion trade surplus with China.
Caused by different long-term production structures
 
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RISING SUN

Senior member
Dec 3, 2017
13,909
6,289

India's exports up 37% at $18.79 billion till mid-April, shows data​

India exported goods worth $18.79 billion during the first two weeks of April, up 37 per cent compared to the same period last year, as external demand continued to remain robust, according to commerce department’s preliminary data.

Excluding petroleum products, the growth in this period was 23.64 per cent over the same period of 2021-22.

Imports grew at a faster pace, with the value of inbound shipments at $25.84 billion, up by 12.24 per cent over the same period of 2021-22. Trade deficit was at $5 billion.

Imports, excluding petroleum products, which comprises the lion’s share in India’s import basket, also increased in this period by 18.24 per cent over the same period of 2021-22.

During the previous year, India surpassed the $400-billion target for merchandise exports, ending the year with over $419 billion, growing by nearly a fifth.

The department of commerce is yet to set the target for this fiscal year, but meetings with export promotion councils and the external affairs minister is also underway to finalise the target. Commerce and Industry Minister Piyush Goyal had last week said the final call regarding the target will be taken by the Prime Minister.

While there could be some disruption in exports due to the ongoing conflict between Russia and Ukraine, government officials are confident that the free trade pacts signed with Australia and United Arab Emirates (UAE) will augur well for India and boost exports further.

Similarly, India also reached the target of $250 billion in case of service exports, despite the pandemic causing disruption in the tourism and hospitality sector. The target for services exports is now set at $300 billion.
 

Sunshine77

Member
Jan 26, 2022
15
10
Seoul
India's trade deficit is actually not serious.
India shows a deficit in goods trade figures but a large surplus in services trade. The total trade deficit after offsetting is about 100 billion US dollars.

But when analyzed, India imports nearly a thousand tons of gold a year, worth $62.5 billion,This part is more valuable than the dollar, are kept in India, is not a real import, at most the money into gold.

Every year, India's overseas workers send back nearly $80 billion to India, which is actually an export of labor services. With gold, India's overall trade balance is actually in surplus.

In addition, India's foreign investment is greater than India's outward investment, so India's foreign exchange reserves are still growing.
 

randomradio

Senior Member
Nov 30, 2017
14,983
10,992
India
India's trade deficit is actually not serious.
India shows a deficit in goods trade figures but a large surplus in services trade. The total trade deficit after offsetting is about 100 billion US dollars.

But when analyzed, India imports nearly a thousand tons of gold a year, worth $62.5 billion,This part is more valuable than the dollar, are kept in India, is not a real import, at most the money into gold.

Every year, India's overseas workers send back nearly $80 billion to India, which is actually an export of labor services. With gold, India's overall trade balance is actually in surplus.

In addition, India's foreign investment is greater than India's outward investment, so India's foreign exchange reserves are still growing.

The deficit matters to the govt. They have to foot the bill. It's not like people will simply hand over their personal wealth to cover deficit payments.
 
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