Indian Economy : News,Discussions & Updates

kharabela

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If done on a wide scale , ll reduce some import bill

NTPC starts India's first green hydrogen blending project​

The green hydrogen blending has been started in the piped natural gas (PNG) network of NTPC Kawas township, Surat . The Petroleum and Natural Gas Regulatory Board (PNGRB) has given approval for 5% vol./vol. blending of green hydrogen with PNG to start with. The blending level would be scaled phase wise to reach 20%, NTPC said in a press release.

 

RISING SUN

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RISING SUN

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kharabela

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Flx21SfacAAh09n.jpg
 

_Anonymous_

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THREAD!!

This is very good thread detailing the history of the manufacturing / industrial policy of the US since it's inception & it's impact on the economy, debunking the constant litany of criticism of the economic policies of the incumbent government which has become more stringent since our exit of the RCEP which in this case is directed at Sadanand Dhume but you could see it as addressed to RRR & his criticism of the PLI scheme advocating our focus be on services instead of mfg, whom cluttejee was trying so hard to defend in his CTC a few weeks ago or Kaushik Basu former CEA - he of his " insightful conversations with taxi drivers in the US Europe & India" fame on the economy & politics of India & people of their ilk.

You maybe interested. @Nilgiri
 

RISING SUN

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India’s central bank governor warns of South Asian debt distress​

India’s central bank governor has expressed concern over growing debt distress among regional trade partners and said he is alert to possible risks to his country’s economy from a global slowdown. Shaktikanta Das said in an interview with the Financial Times that he was optimistic about India’s growth and financial stability despite the deteriorating global economic outlook. The IMF expects recession to affect one-third of the global economy this year, it said recently. Analysts forecast that India will be a bright spot but the Reserve Bank of India governor said there was “no room for complacency”. “Net-net, India is far better placed than almost all other countries,” he said. However, “the global challenges are building up,” he added, saying they “will have their spillovers and will have their impact on India”.

Of India’s regional neighbours, Das said: “We are quite concerned about the debt distress in all these countries because we have a lot of trade relations with these countries. It’s a matter which we are looking at with a lot of interest.” Das declined to specify which countries he meant but Sri Lanka last year became Asia’s first country in decades to default. Meanwhile Pakistan, India’s nuclear-armed western neighbour and traditional foe, is down to $5.6bn of foreign exchange reserves, equivalent to about one month’s imports. Bangladesh’s export-led economy has been hit by slower demand, rising fuel prices and power cuts, leading its government last year to seek IMF help. Regional power India, by contrast, was one of the world’s fastest-growing large economies over the past year.

Das attributed India’s resilience partly to Narendra Modi’s government’s “calibrated, prudent” fiscal response to the Covid-19 pandemic and partly to the RBI’s monetary policy response, which was time-limited and targeted to specific sectors. India’s substantial foreign exchange reserves boosted international investor confidence, he said. India’s relatively conservative approach to Covid-19 stimulus spending had helped to keep a lid on inflation, Das said. Although the RBI forecasts India’s inflation for the current fiscal year will be 6.7 per cent — above the 4-6 per cent band that the RBI targets — it is lower than in many other leading economies. Many economists expect New Delhi to increase spending in next month’s annual budget, ahead of 2024’s general election. But Das said he had “no reason to doubt” the government’s commitment to curbing its fiscal deficit.

India’s foreign exchange reserves, which peaked at $642bn in 2021, have fallen to about $563bn after spending to stabilise the rupee and revaluation because of the strengthening dollar. Das described this as a “very comfortable level”, equivalent to nine months of India’s projected imports and 92 per cent of its external debt. He rejected the idea that India “burnt up” reserves during 2022. “You buy an umbrella to use it when it rains,” he said. “You can’t keep your umbrella inside the cupboard and say it will get spoiled.” Das denied that the central bank’s currency interventions were to defend the rupee, arguing that he aimed for orderly depreciation. “We don’t have any specific exchange rate in mind,” he said. Since Russia invaded Ukraine India has felt pressure from higher food and energy prices, which have prompted it to pivot away from traditional oil suppliers and towards discounted Russian crude, as well as accelerating New Delhi’s drive to promote the rupee in international trade.

Das said that the bank had now approved rupee accounts for six to seven countries, declining to name them, which will allow them to settle trades in India’s local currency rather than dollars, the typical international currency of exchange. “They will be able to save dollars — countries in the south Asian region in particular — and also outside the south Asian region for whom foreign exchange reserves in dollars is a matter of concern,” Das said. The RBI governor was scathing about cryptocurrencies, arguing that the RBI had helped to shield investors from the recent meltdown in the sector by advising the government against regulating — and therefore legitimising — digital assets. “This is precisely what we were saying: that this will collapse sooner or later because it has absolutely no underlying value,” Das said. “It is a purely speculative product,” he added. “Somebody has to also tell what public good it serves.”
 
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kharabela

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60-70% of the team that has designed its latest GE9X engine sit in the India centre. The GE9X is what is going into Boeing’s latest generation aircraft, the Boeing 777X,

AA16cjW8.jpg



 

kharabela

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Tata group chairman N Chandrasekaran on Wednesday, during a panel discussion at the World Economic Forum (WEF) in Davos, announced that the conglomerate has a capital expenditure commitment of $90 billion in India over the next five years. Railways Minister Ashwini Vaishnaw, who joined Chandrasekaran during the panel discussion, spoke about the government’s focus on capital expenditure to boost the growth and employment prospects. For investment in Railways, the capex was $23 billion last year, and "now it is expected to be in the order of $26 billion . Same goes with highways and power transmission. This capex is helping employment, as around 1.5 million people are being added to formal jobs every month.

 

kharabela

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HALO NX', a High Speed 5-axis Ferrous Capable CNC Machining Center , product of a Manufacturing start up , Etherial machine .




This three-year-old Bengaluru-based startup own Best of Innovation' awards at CES 2018, the consumer electronics show in Las Vegas.
in the 3D printing category for creating a unique five-axis machine that does both additive (printing) and subtractive (cutting) manufacturing.
seen as the first company in the world to create this hybrid technology.
While a three-axis machine is the most prevalent printing machine currently, a five-axis machine cuts across in more directions, but is normally bulky in weight and size. Ethereal Machines managed to compress it to a desktop-size machine that weighs 1.5 tonnes, and lets you both print and cut material. This technology is the first in the world

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