India Indian Economy + Infra Archive

[Raptor]

I thought Bilal would change after coming to this forum. I just saw him trolling there and coming here as if he is on point.

Dreaming bout US or Singaporean products when they are flying F7PG as their main base. BD is improving, that much is a given. But it's development is not seen other than Dhaka and that's where I believe fudging comes in.

Another troll went to say that they will cut north-east India and give "blow" to India,I mean something which china tried and failed in 1967,Bangladesh will do it,fair enough.

 

[Rajendra Chola]

Another troll went to say that they will cut north-east India and give "blow" to India,I mean something which china tried and failed in 1967,Bangladesh will do it,fair enough.

The thing is inferiority complex some.BD people are still to come to terms on how their independence was achieved With the help of Hindu India. And the reason why people want their army to look at India as an enemy. I understand their need to plan for contingencies, but people like him have simply lost it.
In few years I actually expect Indian weapons in the hands of BD army and AF. I am going to love the burn.

 

[Indos]

@Nilgiri

Can you make a thorough analysis behind South Korea industrialization success ?? In other forum South Korean member said they have some doubt in early phase of their industrialization when they want to start their indigenous automotive sector. South Korea is able to make their own engine while Malaysian Proton still rely Japanese engine until Today. Same ambition, different result.

 

[Nilgiri]

@Nilgiri

Can you make a thorough analysis behind South Korea industrialization success ?? In other forum South Korean member said they have some doubt in early phase of their industrialization when they want to start their indigenous automotive sector. South Korea is able to make their own engine while Malaysian Proton still rely Japanese engine until Today. Same ambition, different result.

South Korea Industrialisation History (Miracle on the Han River)

@Nilgiri Can you make a thorough analysis behind South Korea industrialization success ?? In other forum South Korean member said they have some doubt in early phase of their industrialization when they want to start their indigenous automotive sector. South Korea is able to make their own...

defencehub.live

 

[Zapper]

 

[Zapper]

Indian Built Alstom Train Unveiled for Montreal REM Metro​

Réseau Express Métropolitain (REM) on Monday unveiled the first look of their Alstom Metropolis light-rail coaches to carry passengers in Greater Montreal, Canada.

These fully-automated (driverless) 2-coach trains were built at Alstom’s Sri City, Andhra Pradesh facility in India and are part of a $1.8 billion contract signed in 2018 for 106 train-sets (212 coaches), Urbalis 400 communication-based train control (CBTC) signaling solution, Iconis control centre solution, platform screen doors, Wi-Fi connectivity, and 30 years of operations and maintenance services.

The first four REM coaches, wrapped in a white tarp for extra protection, were dispatched from Sri City through the Chennai Port in September. After a 23 day journey at sea, the coaches arrived at the Port of New York/New Jersey, travelled approximately 800 kms north through the interstate highway system, crossed into Quebec at Saint-Bernard-de-Lacolle, and arrived at the Brossard maintenance workshop on October 21.

Photo Copyright: Réseau Express Métropolitain
REM’s Facebook Live video unveiling the coaches can be viewed here. Here are some specifications from their press release:

• Length: 76.20 m (250’) at peak hours (4-coach)
• Width: 2.94 m (9’8’’)
• Height: 3.90 m (12’10’’) excluding the pantograph
• Maximum weight: 232 tonnes
• Theoretical capacity: 600 passengers per car
• Maximum capacity: 780 passengers per car
• Seats: 128
• Average Speed: 51 km/h.

The trains have a spacious interior with side seating, durable seats, air conditioning (including heat), free WiFi and LCD screens. Per REM, the trains were specifically adapted for the city’s climate of hot, humid summers and very cold winters with the following characteristics:

• Heated door thresholds and floors
• Heated automatic couplers at the ends
• Ice protection equipment
• Heated windshields
• Ice scrapers on the pantographs

Photo Copyright: Réseau Express Métropolitain
A total of 4 REM cars have to-date been delivered to Montreal, and the next set of deliveries are expected to arrive in 2021. Alstom India recently revealed they had completed manufacturing 36 coaches.

In the coming days, the coaches will be coupled (two pairs or two cars), and prepared for testing on a 3.5 km segment from Brossard Stationt to Panama Station. Upon completion, the $6.3 billion REM will be one of the world’s largest automated transport networks, 67 km long with 26 stations, and connect downtown Montreal with South Shore, North Shore, West Island and Pierre Elliott Trudeau International Airport – view network route map.

Photo Copyright: Réseau Express Métropolitain
The production and export of these metro coaches is a boost to the Government of India’s “Make in India” iniative which aims at turning the country into a global manufacturing destination. Prior to this, Alstom India had built and delivered 132 coaches to Sydney Metro and has now restarted manufacturing 138 coaches for its City and Southwest extensions.

 

[Jackdaws]

The biggest gripe for manufacturing in India isn't engineering. It is skilled labour and project management.

When I was 18 I moved to the US and then when I was 25, I moved to Northern Europe. After that I moved to India and had the complete headache of being a Management Consultant for some top firms here.

I was called in to do an analysis of a hydro power plant being built in Sikkim and why it was getting delayed by 4 years. I didn't even know how a power plant operated. But no one in that company had bothered making a project plan or a program plan with timelines. I didn't even go to Sikkim.

They were hiring locals because the local MLA was asking them to. They didn't have a project plan. To get back on track, they could use a new more expensive blasting technique - you could actually Google it and a Finnish firm literally had the product they needed. But they had committed to hiring of certain people for a certain amount of time. So they couldn't quicken the project. But they wanted a Project Management Consultant to figure out why the project was delayed. Time, cost and quality - all codependent on each other were irrelevant to them.

 

[Nilgiri]

 

[Nilgiri]

Economy and manufacturing threads have been merged.

 

[Nilgiri]

Ashok Gulati is always a treat to listen to, he knows the issues so deeply and gives direct plain answers.

(EDIT: reuploaded new link to same vid)

 

[Nilgiri]

 

[Nilgiri]

Foreign direct investment (FDI) equity inflows into India crossed the $500 billion milestone between April 2000 to September 2020, strengthening the country’s credentials as an investment destination.

 

[Nilgiri]

Stock market has been doing very well, 2021 recovery will be helped

Sensex Closes at Record High of 45,000 After RBI’s GDP Forecast

Sensex on Friday, 4 December, rallied 446.90 points to end at a record 45,079.55, while Nifty surged 124.65 points to a new peak of 13,258.55 points, news agency PTI reported.

www.thequint.com

sensex today: Sensex, Nifty hit fresh lifetime highs amid strong foreign fund inflow - Times of India

India Business News: Equity benchmark sensex jumped over 150 points and Nifty crossed the 13,300 level to touch their fresh lifetime peaks in early trade on Monday trackin

timesofindia.indiatimes.com

 

[Raptor]

Nomura says India would be fastest growing Asian economy in 2021
By Puneet Wadhwa | New Delhi | Last Updated at December 09 2020 23:22 IST

Topics Indian Economy | Nomura | GDP growth




Illustration: Ajay Mohanty
India could well be the fastest-growing Asian economy in calendar year 2021 (CY21) if Nomura’s forecasts are to be believed. The foreign research and brokerage house expects the Indian economy – as measured by gross domestic product (GDP) – to grow at 9.9 per cent in 2021, eclipsing China (2021 GDP growth pegged at 9 per cent) and Singapore (at 7.5 per cent) during this period.
Nomura has turned positive on India's cyclical outlook for 2021, and believes the country is on the cusp of a cyclical recovery. The change in stance comes after nearly two years (end-2018), when it had turned negative on India’s growth.
"We project GDP growth to remain in negative territory in Q1-2021 (- 1.2 per cent), pick up to 32.4 per cent in Q2 on base effects, before easing to 10.2 per cent in Q3 and 4.6 per cent in Q4. Overall, we expect GDP growth to average 9.9 per cent in 2021 versus -7.1 per cent in 2020, and 11.9 per cent in FY22 (year ending March 2022) versus -8.2 per cent in FY21," wrote Sonal Varma, managing director and chief India economist at Nomura in a December 8 report titled Asia 2021 Outlook, co-authored with Aurodeep Nandi.

Nomura says India would be fastest growing Asian economy in 2021
A sharper-than-expected rebound by India's economy in the second quarter has taken most analysts by surprise. Fitch Ratings, for instance, now expects the GDP to contract at 9.4 per cent in the current financial year, down nearly 1 percentage point (pp) from 10.5 per cent forecast in September 2020.
Given the uncertainty surrounding the Covid-19 vaccine, Nomura expects the Reserve Bank of India (RBI) to maintain an accommodative stance in the first half of calendar year 2021 (H1- 2021) and a gradual withdrawal of liquidity in the first/second quarter (Q1/Q2) of 2021, shift to a neutral stance in Q2/Q3CY21, followed by higher policy rates in early 2022. It expects inflation to average at around 5.5 per cent in H1-2021, before easing to 4.1 per cent in the second half.
Key risks
The fastest-growing tag in 2021, however, will come with its own challenges. A key concern in 2021 and beyond, Nomura said, is the implication of the K-shaped recovery seen till now. A slower pace of recovery in the informal sector, according to them, implies the cyclical recovery maybe a jobless recovery and can lead to lower per-capita income, higher inequality, pressure for more populist spending by the government and social tensions.
It also cautions against the structural balance sheet challenges, particularly elevated non-performing assets (NPAs) in the financial sector, constrained fiscal space and a corporate sector focused more on deleveraging than capex.
"Owing to the lack of job creation, the cycle’s durability could be on shaky ground. For 2021, however, we believe risks are skewed towards an upside surprise on both growth and inflation, relative to consensus and the RBI's projections," Varma and Nandi said.
A rise in infection cases due to crowding during recent festivals; fading of pent-up demand after the initial reflex; fiscal drag from expenditure compression in Q1, as the government struggles to keep the deficit under control; and weaker growth in Europe and the US due to the pandemic are the four risks it cites that could trigger a slowdown in economic growth going ahead.
At a macro level, Nomura expects global growth to pick up from negative 3.7 per cent in 2020 to 5.6 per cent in 2021, with growth in H1-2021 averaging around 7.8 per cent y-o-y (owing to base effect).

 

[Nilgiri]

In a bid to push Indian-made goods, Walmart on Thursday said it would triple its exports from the country to $10 billion each year by 2027.

 

[Nilgiri]

2021 is going to see lot more of this happening. I'd like to air out this discussion if people are interested and will merge with Indian economy thread later.

Rs 4825 cr. is approx 650 million USD investment btw.

@Madokafc @Indos @#comcom

Samsung to invest Rs 4,825 cr to shift China mobile display factory to India

The UP governments cabinet headed by Chief Minister Yogi Adityanath approved special incentives to Samsung Display Noida Private Limited on Friday.

economictimes.indiatimes.com

NEW DELHI: Smartphone major Samsung will make an investment of Rs 4,825 crore to relocate its mobile and IT display production unit from China to NCR in Uttar Pradesh, the state government said.

The UP government’s cabinet headed by Chief Minister Yogi Adityanath approved special incentives to Samsung Display Noida Private Limited on Friday.

"This is the first high-technique project of South Korea's multi-national major which is being set up in India after relocating from China and the country will become third in the world to have such a unit," the UP government’s spokesperson said in a statement.

The manufacturing unit is expected to generate direct employment of 510 persons besides giving indirect employment.

Samsung currently makes more than 70 percent of the total display products used in TVs, mobile phones, tablets, watched, etc., in the world in South Korea, Vietnam and China.

Samsung already has a big mobile manufacturing unit in Noida, which was inaugurated by Prime Minister Narendra Modi in 2018. Samsung had then committed Rs 4,915 investment for the factory.

Samsung didn’t respond to ET’s queries. The company earlier this week said that it was planning new initiatives in manufacturing in India to make it an electronics manufacturing and exports hub.

Samsung along with Apple partners Foxconn, Wistron and Pegatron recently received approval from the Indian government under the production-linked incentives scheme. All these multinational companies were approved to avail incentive for producing mobile phones with invoice value Rs 15,000.

It plans to produce handsets worth over $40 billion in India under the PLI scheme, ET previously reported.

The South Korean major recently told the government that it will start TV production in Chennai by December 2020.

Samsung was the largest exporter of Uttar Pradesh with $2.7 billion dollar of export in the last fiscal. It has set an export target of 50 billion dollars during the next five years.

As per the "UP Electronics Manufacturing Policy 2017', Samsung will get exemption of stamp duty in transfer of land. The state government will have to make financial provision of Rs 250 crore for this project during five years.

Samsung will also receive financial incentive to the tune of Rs 460 crore under Government of India's Scheme for Promotion of Manufacturing Electronic Components and Semiconductors (SPECS), the state government said.

 

[Nilgiri]

Air India: Tatas bid for Air India, 67 years after exit | India Business News - Times of India

India Business News: Tata Group, India’s largest conglomerate, is believed to have submitted an expression of interest for the beleaguered national carrier Air India over

timesofindia.indiatimes.com

Bleh, it took this long for SOE to come full circle back to where it started.

@Gundala just one example on our side lol.

 

[Nilgiri]

Daimler eyes PLI scheme to increase export of CVs

Sops will help company grow globally by using India as a manufacturing hub: CEO

www.livemint.com

Daimler AG plans to increase its investments in India and enhance exports of vehicles and parts under the government’s production-linked incentive (PLI) scheme as part of efforts to improve its profitability, said a senior executive at the German automaker.

Satyakam Arya, managing director and chief executive, Daimler India Commercial Vehicles (DICV) said in an interview that the company already exports to more than 50 countries from its plant on the outskirts of Chennai.

The fresh investment “purely depends on how you design an entry into a market like India and that determines what you will make out of it, whether you will pull out of the market or stay put. There are some who came and went back, but we have invented close to ₹9,500 crore and we are right now thinking of investing more", Arya said.

The company plans to increase localization levels to 95% over the next two years and some part of the new investments can be used for this purpose.

DICV opened the India plant in 2012 with an initial investment of €700 million. It commenced exports a year later. The factory can produce up to 70,000 commercial vehicles a year. In May this year, the company signed an initial agreement with the Tamil Nadu government to invest an additional ₹2,277 crore to expand the plant capacity.

“We look at India as a competitive manufacturing hub and this will happen even more with the PLI scheme announced by the government," Arya said. “We are waiting for the finer details, but the scheme has been designed in order to push companies like us to grow globally by using India as a manufacturing hub. This scheme gives us the confidence that the government is also thinking in the same direction."

The government on 11 November announced the PLI scheme for companies in 10 sectors to increase local manufacturing and improve exports subsequently. The automotive sector, comprising automakers and parts suppliers, will get subsidies worth ₹57,000 crore—the biggest chunk—as part of the scheme.

Commercial vehicle sales in India plunged 42% in FY20, hit by factors such as economic slowdown and revised load-carrying norms. The pandemic exacerbated the situation as sales fell nearly 49% from the year earlier to 24,552 units in the first half of this fiscal. Daimler recorded a 26% decline in sales till date in calendar 2020.

Arya said growth in the next few years look uncertain, but the commercial vehicle industry may take at least five years to go back to the 2018 level when sales peaked to a record high.

“We stayed profitable in 2019 and did better than 2018 despite a decline in volumes. This was mainly because we stayed focused on cost and had a healthy 14% increase in exports. We are expecting a sharp rebound in 2021 in domestic and exports and in our financial performance," he said.

 

[Nilgiri]

PLI scheme may add USD 520 billion to GDP in 5 years: Report

According to analysts, electronics, particularly mobile phone manufacturers, stand to be the biggest beneficiary of the scheme. Other sectors that will benefit include automobile, battery, pharma, food, textiles and telecom.

www.financialexpress.com

The production-linked incentive (PLI) scheme launched to boost local manufacturing may add USD 520 billion to the gross domestic product in the next five years, according to a report.

The government had in March announced the PLI scheme to help lower the country’s dependence on imports, mainly from China, by incentivising and inviting global as well as capital-rich companies to set up manufacturing capacities in the country.

If materialised, the move will help cut imports on one hand and boost exports on the other.

“The PLI scheme may add around USD 520 billion to the GDP in the next five years,” domestic brokerage Sharekhan by PNB Paribas said in a note.

The scheme is applicable for 10 select sectors, which are labour-intensive and expected to cater to the growing employment needs and achieving size and scale in manufacturing.

As part of the scheme, the government has made a budgetary outlay of Rs 1.96 lakh crore or USD 26 billion.

The scheme envisages providing on average 5 per cent of the production value as an incentive. This implies that minimum production as a result of the scheme stands to be around USD 520 billion over the next five years, says the report.

The idea is to create a few large manufacturing players with the advantage of policy support to the tune of 5-8 per cent of value add, scale and world-class technology.

According to analysts, electronics, particularly mobile phone manufacturers, stand to be the biggest beneficiary of the scheme. Other sectors that will benefit include automobile, battery, pharma, food, textiles and telecom.

If taken off as planned, the scheme could boost exports, thus narrowing the trade deficit by USD 55 billion.

 

[Nilgiri]

'Digital India' made country stand out, says Microsoft CEO Satya Nadella

The Digital India framework is an inspired set of choices that came about because of the state prioritising such infrastructure as a public good, which can help companies as well as citizens of the country, Nadella added.

www.businesstoday.in

After Microsoft co-founder Bill Gates, now company CEO Satya Nadella has also praised India's 'Digital India' campaign at a public platform on Thursday.

Nadella, speaking at the Carnegie India 2020 Global Technology Summit, said the "Digital India" framework has made India "stand out" from the rest of the world. He said the "India stack is pretty impressive".

"Bill Gates is always talking about how can we take what has been developed in India and make it available as a stack to all countries," The Economic Times quoted Microsoft CEO speaking at the Global Technology Summit.

The Digital India framework is an inspired set of choices that came about because of the state prioritising such infrastructure as a public good, which can help companies as well as citizens of the country, Nadella added.

Hyderabad-born Nadella said that companies coming out of India are "world-class" that's because of the state promoting it through skilling and infrastructure. Nadella said Microsoft is also investing in India as the local entrepreneurs, small businesses, and multinationals and public sector are becoming more efficient.

He also talked about Microsoft's partnership with NASSCOM to train one million people on Artificial Intelligence by 2021. Nadella said the training programme will not be limited to just engineers but also frontline workers so that they can use AI to become more efficient.

On broadband, Nadella said India has benefitted from 4G and that 5G will be rolled-out soon. "We have to make sure every rural community in every underserved community has access to broadband and we're working with nonprofits to ensure that...".