India Economy Thread

[Nimble]

GoI has become much stricter with PLI compliance. After the FAME-II localisation issues, DVA checks have gone much deeper. They're now looking beyond Tier-3 and even up to Tier-4/Tier-5 suppliers to verify the actual domestic value addition. That is seriously making it more challenging for these crooks to inflate localisation claims through paperwork. Those days are slowly coming to an end.

But the real problem is the red tape. DVA certification, AAT approval, audits and verification takes too long which is actually delaying the PLI payouts even when companies meet the requirements. GoI should keep these strict DVA checks as they are but make the certification and approval process much faster and simpler so PLI disbursements happen on time. @Nimble

Things are improving in radio silence bro.... just keep an eye on time and date....

 

[ChillVein]

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[CallSignMaverick]

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[indo17787]

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India’s fuel exports have hit a 1-year high. Exports of refined petroleum products climbed to a one-year high in July. This enabled domestic refiners to increase overseas shipments. According to shipping data from analytics firm Kpler, India exported 1.53 million barrels per day (bpd) of refined fuels during July. This is about 27% higher than the average monthly volume over the previous 12 months.

Indian refiners maximise: Fuel exports hit 1-yr high as robust margins, Russia diesel export ban help

Amid the ongoing US-Iran conflict, India’s fuel exports have hit a 1-year high. Exports of refined petroleum products climbed to a one-year high in July, supported by strong diesel refining margins, Russia's ban on diesel exports and abundant crude availability during the temporary ceasefire in...

timesofindia.indiatimes.com

Indian exports of petroleum products are set to rise substantially next year as the country adds more than 32 million tonnes, or 646,000 barrels per day, of refining capacity.

The annual capacity addition, the highest in decades, comes as the world faces a severe shortage of petroleum products such as diesel, jet fuel and gasoline, pushing refinery and export margins higher, according to government, company and ship-tracking data and interviews with senior industry officials.
https://www.business-standard.com/e...pacity-europe-demand-2027-126080301126_1.html