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Nilgiri

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Glad they did that , people even start hating China more than ever and more such decisions will happen in future atleast in India .

Covid + Galwan really last nail for any kind of Chinese sympathy in India , they are enemy number 1 and should be treat like that only

I remember when I was about 12, George Fernandes as DM caused quite ruckus by saying just that (China is enemy no 1).

Security folks have to always balance what is BOTH the intent but also capability of each adversary, and not just one of those two.
 

crixus

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I remember when I was about 12, George Fernandes as DM caused quite ruckus by saying just that (China is enemy no 1).

Security folks have to always balance what is BOTH the intent but also capability of each adversary, and not just one of those two.
I still remember that , it was in 1998, and India today did the whole story about that.

Next Kargil happened
2003 Vajpayee allowed Chinese crap to enter India.
Then saint Antony literally stalled all infra projects along LAC, hope you remember when he said the Chinese will use our roads to enter India .

Now at least the Chinese made it clear that covertly or overtly they are enemy no. 1, Pakistan is nothing more than a nuisance value
 

Nilgiri

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I still remember that , it was in 1998, and India today did the whole story about that.

Next Kargil happened
2003 Vajpayee allowed Chinese crap to enter India.
Then saint Antony literally stalled all infra projects along LAC, hope you remember when he said the Chinese will use our roads to enter India .

Now at least the Chinese made it clear that covertly or overtly they are enemy no. 1, Pakistan is nothing more than a nuisance value

Pakistan highest "nuisance" value was given by Chinese in first place (CHIC-4 design).

Any case, not just India, but whole civilised world is waking up more to who the biggest adversary to that actually is.
 

Nilgiri

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Yep I posted here previously:


But separate thread will get more views for now (y) , so I will leave it up here.
 

crixus

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Yep I posted here previously:


But separate thread will get more views for now (y) , so I will leave it up here.
I am sorry you can merge the thread , I don't know where you posted the video
 

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India attracted highest ever total FDI inflow of US$ 81.72 billion during 2020-21, 10% more than the last financial year​

Posted On: 24 MAY 2021 3:56PM by PIB Delhi

Measures taken by the Government on the fronts of Foreign Direct Investment (FDI) policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country. The following trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors:



  • India has attracted highest ever total FDI inflow of US$ 81.72 billion during the financial year 2020-21 and it is 10% higher as compared to the last financial year 2019-20 (US$ 74.39 billion).


  • FDI equity inflow grew by 19% in the F.Y. 2020-21 (US$ 59.64 billion) compared to the previous year F.Y. 2019-20 (US$ 49.98 billion).


  • In terms of top investor countries, ‘Singapore’ is at the apex with 29%, followed by the U.S.A (23%) and Mauritius (9%) for the F.Y. 2020-21.


  • ‘Computer Software & Hardware’ has emerged as the top sector during F.Y. 2020-21 with around 44% share of the total FDI Equity inflow followed by Construction (Infrastructure) Activities (13%) and Services Sector (8%) respectively.


  • Under the sector `Computer Software & Hardware’, the major recipient states are Gujarat (78%), Karnataka (9%) and Delhi (5%) in F.Y. 2020-21.


  • Gujarat is the top recipient state during the F.Y. 2020-21 with 37% share of the total FDI Equity inflows followed by Maharashtra (27%) and Karnataka (13%).


  • Majority of the equity inflow of Gujarat has been reported in the sectors `Computer Software & Hardware’ (94%) and `Construction (Infrastructure) Activities’ (2%) during the F.Y. 2020-21.


  • The major sectors, namely Construction (Infrastructure) Activities, Computer Software & Hardware, Rubber Goods, Retail Trading, Drugs & Pharmaceuticals and Electrical Equipment have recorded more than 100% jump in equity during the F.Y. 2020-21 as compared to the previous year.


  • Out of top 10 countries, Saudi Arabia is the top investor in terms of percentage increase during F.Y. 2020-21. It invested US$ 2816.08 million in comparison to US$ 89.93 million reported in the previous financial year.


  • 227% and 44% increase recorded in FDI equity inflow from the USA & the UK respectively, during the F.Y. 2020-21 compared to F.Y.2019-20.
 

Kaptaan

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Very impressive. Meantime Pakistan has been doing his best to attract investors from the west by opening himself to charges of Anti-Semitism. I am sure this should improve Pakistan's prospects at staying on the FATF list.
 

Raptor

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Very impressive. Meantime Pakistan has been doing his best to attract investors from the west by opening himself to charges of Anti-Semitism. I am sure this should improve Pakistan's prospects at staying on the FATF list.
pakistan would no longer remain on FATF grey list now,maybe
but the damage to pakistan's economy has been done.
pakistan missed several buses
india also did,but caught some too.
Pakistan should come up with strategy to improve FDI.
 

Nilgiri

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HYDERABAD: US-based semiconductors and wireless technology giant Qualcomm is setting up a mega facility spread over nearly 1.6 million sq ft at a SEZ in Hyderabad. This will be the largest SEZ leasing deal in Telangana. It will also be Qualcomm’s largest facility in India.

The Qualcomm facility, to be housed over 17 storeys at the Sustain Properties Pvt Ltd SEZ being developed by K Raheja Group at Raidurg, will entail an investment of Rs 3,904 crore and will create about 8,700 jobs over the next five years, the Visakhapatnam Special Economic Zone (VSEZ) said on Monday.

The mega SEZ facility is expected to generate IT services exports to the tune of Rs 28,658 crore over the next five years, it said.

The project has also received approval from the unit approval committee of VSEZ at a meeting held recently. All SEZs in Telangana fall under VSEZ.

Qualcomm will start with taking possession of four storeys at the SEZ in September and ramp it up with the facility expected to be fully operational by September 2022, VSEZ development commissioner A Rama Mohan Reddy said.
The company is intent on setting up its own campus at an investment of $400 million. The deal was initially announced by the Telangana IT & industry minister KT Rama Rao's office in October 2018 but the campus proposal was learnt to have been ditched as the land initially identified for the project turned out to be a disputed one.
Following this, the US giant is learnt to have decided to opt for a leased facility in the city, where it already has a couple of facilities that it will be consolidating in the upcoming SEZ facility, sources said.
 

Nilgiri

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Things shaping up better than I remember from the 90s.

 

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Wipro Third Indian IT Firm to Join ₹3 Trillion Market Capitalisation Club​

  • ABDUL KADIR KHAN
  • 3 JUN 2021
Wipro stock has shown exponential growth since surged since Thierry Delaporte became CEO and MD of the firm. On Thursday, the Wipro stock surge helped the firm to cross the $3 trillion market cap. Tata Consultancy Services and Infosys are the other two Indian IT business giants who have crossed Rs 3 trillion marks.

Wipro Hit Rs 3 Trillion Market Cap

The year 2021 has become one of the productive years for Wipro. The stock surge has sent Wipro to Rs 3 Trillion market cap club. Total 13 listed firms have reached this mark in India. From the Indian IT sector, Wipro is the third company to do so. TCS and Infosys are the other two Indian IT firms that have already reached Rs 3 trillion market capitalization.

Today morning, Wipro stock surged to Rs 550 in the early trading that helped the firm to reach Rs 3.01 trillion. India’s benchmark equity index Sensex rose 0.6% to 52,169 points.

The company recorded the lowest stock value in June 2020. Since then, the firm saw a stock value surge by 164% up to now. In 2021 itself, Wipro’s share has increased by 41%.

Among 14 Indian firms that have crossed Rs 3 trillion, Wipro ranks 14th in terms of market cap. with a market cap of Rs 14.05 trillion, Reliance Industries ranks first among all Indian listed firms.

TCS and HDFC Bank rank 2nd and 3rd respectively with Rs 11.58 trillion and Rs 8.33 trillion among 13 listed firms.

How Wipro Reached $3 Trillion Market Cap?

Financial experts credit Thierry Delaporte for the Wipro stock surge. Since the time he joined Wipro as CEO and Managing Director, he brought a lot of changes to Wipro. At the top management level, he slashed a 25 person team to four.

Under Thierry’s leadership, Wipro signed one of the biggest deals with German retailer Metro. Overall, the company won $7.1 billion deals. Out of that, $2.6 billion belongs to the large contract signed in the second half of 2021.

Talking about the latest Wipro policies and the surge in stocks, ICICI Direct in a note to its investors, said:

“We believe Wipro’s strong full services capabilities across applications, infra, BPS and engineering will help in winning integrated deals and help win large deals as seen in recent quarters. Hence, we expect the company to register 21% YoY dollar revenue growth in FY22E (of which 13% is organic and rest through acquisition) and 13% YoY in FY23E.”
Elara further added:

“The new CEO’s strategy refresh, which could: revive growth on improving win rates and the underlying uptick in digital demand and drive higher profitability. Strong cash conversion, net cash at Rs34500 crore, and strong capital allocation provide cushion to our call.”

 

Nilgiri

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8000 cr INR = about 1.1 billion USD

E3fzlbSVoAIVB-m
 

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India far ahead of US in financial innovation: American lawmaker​

Montana Republican U.S. Sen. Steve Daines  (AP)
Montana Republican U.S. Sen. Steve Daines (AP)2 min read.Updated: 11 Jun 2021, 10:07 AM ISTPTI

Republican Senator Steve Daines said that compared to India and China, the United States processed just USD 1.2 billion of real-time payments.

Republican Senator Steve Daines said India is the "fastest-growing" FinTech market in the world and far ahead of the US in terms of financial innovation.
The senator from Montana said the US faces a challenge from China, which has launched a digital Yuan, which they hope will one day displace the dollar as the world's dominant reserve currency.
.

"Even beyond the digital Yuan, it's no secret that China and many other countries are well ahead of us with regard to financial innovation," he said during a Congressional hearing by the Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy on Central Bank Digital Currency.
"India is among the fastest-growing FinTech markets in the world. In fact, India processed nearly 10 billion more real-time payments than China in 2020, USD 25.5 billion, versus USD 15.7 billion for China," Daines said.

He said that compared to India and China, the United States processed just USD 1.2 billion of real-time payments.
Darrell Duffie, the Adams Distinguished Professor of Management and Professor of Finance at Stanford Graduate School of Business, agreed during the testimony.
"At this stage, the United States has fallen behind even India and China with respect to digital currency technology. And the competition for commercial services internationally is very important," Duffie said.
"US banks have been ceding ground to Chinese banks internationally. If the United States wants to compete, it is going to have to invest in technology in this area, particularly with respect to the new uses of digital ledger technology," he added.


Christopher Giancarlo, the former Chairman of the US Commodity Futures Trading Commission said the use of distributed ledger technology with tokenised money may present a future very different from the one known today.

"Today, we think of a global network of banking institutions that have been very useful to the United States in sanctions, power and other areas but also to clean up money laundering and surveil that banking network. But in the future, we may see very different networks of digital currency. There may be a Yuan network. There may be a dollar-based network," he said.
How these networks interact with each other is going to be of critical importance and the work of China in looking at blockchain technology and helping to set the standards of interoperability between these networks is going to be of critical importance.
"Whether we eventually want a digital dollar or not is almost an issue of second-order magnitude. The first issue is that we lead in the technological development and in the standard setting," Giancarlo said.

 

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India’s Forex Reserves: $600 Billion And Counting...​

Pallavi Nahata
@PallaviNahata
Jun 11 2021, 5:22 PM IST Jun 11 2021, 5:27 PM IST

India’s foreign exchanges rose past the $600-billion-mark, helped by the pandemic year when a slush of global liquidity moved towards emerging markets in search of yield.
The result was that most emerging markets, including India, saw a build up in foreign exchange reserves as central banks bought dollars to prevent a sharp appreciation in local currencies.
India's foreign exchange reserves rose to $605 billion for the week ended June 4, 2021, from $598 billion the week before. Reserves have risen by close to $130 billion since March-end 2020, when the Covid crisis accelerated around the world, prompting central banks to unleash a wall of liquidity to stabilize economies.
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While India was a large beneficiary of dollar flows, it wasn’t the only one. Still, the reserve build-up in India is among the strongest across emerging economies.
Reserves have jumped by over $140 billion since late 2019, registering among the highest increases in Asia ex-Japan, said Radhika Rao, economist at DBS Bank.
Even as a percentage of GDP, India’s reserve build-up is among the highest across emerging economies, shows data from the Institute of International Finance. In 2020, for which comparable data is available, India’s foreign exchange reserve build-up stood at 4% of the GDP. This is the fourth largest after Taiwan, Hungary and Philippines.
The numbers are large but not unusually so for Asia, where many countries have traditionally managed exchange rates heavily to prevent appreciation and boost exports, said Sergi Lanau, deputy chief economist at Institute of International Finance.
In absolute terms, India has the fifth-largest pool of forex reserves.
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More Than Adequate
At current levels, reserves are more than adequate by most traditional metrics.
  • Reserves are now adequate for more than 15 months of imports based on the average monthly imports in FY20, before the pandemic hit.
  • They are 1.1 times of India’s external debt of $563.5 billion as of December 2020.
The idea with reserves is having enough to finance current account deficits and external debt amortisation in stress times, said Lanau. How much is needed for that is a subjective policy decision, he said.
Many work with a 100% of external financing needs rule of thumb (so reserves need to be at least 100% of a given year’s current account deficit + amortization). In India, covering a current account deficit of 2.5% of GDP and external amortization would amount to $320 billion. From this perspective $600bn in reserves is plenty.
Sergi Lanau, Deputy Chief Economist, Institute of International Finance
The cost of having lots of reserves is managing their impact on domestic liquidity, Lanau added.
When the RBI buys dollars it puts more rupees in the system, which need to be mopped up to keep money market rates close to policy rate corridor. “The RBI has done that in the (rupee) forward market, pushing rates up, discouraging firms from hedging forex exposure,” Lanau said.
On any external vulnerability metric, India is very well placed compared to emerging market peers, said Madhavi Arora, lead economist at Emkay Global. However, Arora also said the negative byproduct of such large forex reserve accumulation has been excessively low short-term rates in some periods.
With reserves at levels considered more than adequate, will the RBI be less aggressive in buying foreign exchange?
Rao of DBS Bank doesn’t think so.
Recent policy commentary has suggested that reserve accretion is a priority for the central bank, she said. “This suggests that there isn’t necessarily any threshold that they are looking to satisfy, but see it necessary to strengthen this cushion at least for the duration of the ultra-loose global policies, which have translated into strong inflows into emerging market assets, including India.”

In absolute terms, India has the fifth-largest reserves.
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Composition Of Reserves
The sharp jump in reserves on account of foreign exchange inflows has meant that the share of gold in India's reserves has steadily declined.
Gold reserves as a share of forex reserves have remained between a range of 5-7% since 2016, according to data from the RBI. Gold constituted 6.2% of total forex reserves, according to data for the week ended June 4, 2021.
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The central bank has been purchasing gold, along with the valuation gains from its existing gold reserves, said Bajoria. Amid the pace of capital flows in the economy, the decision to allocate gold is made on a periodic basis rather than a regular basis, he said. This is an asset allocation choice, he said.


 

crixus

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Nitin Gadkari is undoubtedly the best minister in NDA 2.0(still miss parrikar tho)
He should line up for PM too for the well-being of nation.
He should be defence minister before PM as we need some one like him . Rajnath is good , but we need some one like Gadkari to improve the efficiency of DRDO , OFB and Shipyards
 

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