India Economy Thread

[CallSignMaverick]

Great

Domestic finished steel consumption grows 13 pc to 136 MT in FY24: SteelMint

India's domestic finished steel consumption increased by 13% to 136 million tonnes in 2023-24, driven by increased demand from the automotive and infrastructure sectors. The country consumed 120 million tonne of finished steel in the previous fiscal year. The production of crude steel also rose...

economictimes.indiatimes.com

Adani-EdgeConneX JV looks to juice up data centre business, plans to invest $5 billion in next 5 years

Adani-EdgeConneX JV looks to juice up data centre business, plans to invest $5 bn in next 5 years

AdaniConneX plans to develop 1 GW of data centre capacity before 2030. It is in talks with several international banks to raise $1.2-1.4 billion in an offshore loan to ramp up growth plans that should be closed in the next couple of weeks.

economictimes.indiatimes.com

India's power consumption rises nearly 10 pc to 70.66 bn units in first half of April

India's power consumption surged by nearly 10% to 70.66 billion units in the first half of April, indicating economic growth and changing consumption patterns. Peak power demand reached 218 GW, up from 206 GW last year, with a projected peak of 260 GW for the summer. Experts attribute the growth...

economictimes.indiatimes.com

Ramkrishna Forgings to supply power train components to US' largest EV producer

Ramkrishna Forgings ventures into the US electric vehicle market, supplying powertrain components to the largest EV producer. This marks their foray into EVs, leveraging their forging expertise. Shares rose post-announcement. The move aligns with their commitment to innovation and sustainable...

economictimes.indiatimes.com

Tesla chief Elon Musk likely to unveil $2-$3 billion India investment during visit, sources say

India's EV market is small but growing and dominated by local carmaker Tata Motors. EVs made up just 2% of total car sales in 2023, but the government is targeting 30% of new cars to be EVs starting 2030. Musk's visit comes as Tesla battles slowing sales in the major markets of the United States...

economictimes.indiatimes.com

Apple enters JV with CleanMax to invest into rooftop solar projects in India

The solar project will have a total size of 14.4 megawatts, which will provide a local solution to power the companys offices and the two retail stores in Mumbai and New Delhi, the Cupertino-based smartphone major said in a statement.

economictimes.indiatimes.com

Nvidia, McKinsey prop up NCR office demand amid Q4 woes

US technology firm Nvidia Corporation secured 73,000 square feet space at The Headquarters 27 in Gurgaon, developed by Bharti Realty, while leading consulting firm McKinsey & Company leased about 70,000 sq ft space at DLF downtown in Gurgaon.

economictimes.indiatimes.com

 

[kaku]

Vivaldi Ku-band Seeker for Astra Mk.2
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X-band AESA Seeker for BrahMos ER (AShM)
​

Operational range is increased from 20 km, in previous mechanically scanned array to 70 km.

Previous mechanical array

​

 

[DDG-80]

Vivaldi Ku-band Seeker for Astra Mk.2
​

X-band AESA Seeker for BrahMos ER (AShM)
​

Operational range is increased from 20 km, in previous mechanically scanned array to 70 km.

Previous mechanical array

​

 

[kaku]

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Video and images of today's test.

 

[CallSignMaverick]

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[kaku]

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast

Defence Research and Development Organisation (DRDO) conducted a successful flight-test of Indigenou

pib.gov.in

Defence Research and Development Organisation (DRDO) conducted a successful flight-test of Indigenous Technology Cruise Missile (ITCM) from the Integrated Test Range (ITR), Chandipur off the coast of Odisha on April 18, 2024. During the test, all subsystems performed as per expectation. The missile performance was monitored by several Range Sensors like Radar, Electro Optical Tracking System (EOTS) and Telemetry deployed by ITR at different locations to ensure complete coverage of the flight path. The flight of the missile was also monitored from the Su-30-Mk-I aircraft of the Indian Air Force.

The missile followed the desired path using way point navigation and demonstrated very low altitude sea-skimming flight. This successful flight test has also established the reliable performance of the indigenous propulsion system developed by Gas Turbine Research Establishment (GTRE), Bengaluru.

The missile is also equipped with advanced avionics and software to ensure better and reliable performance. The missile is developed by Bengaluru-based DRDO laboratory Aeronautical Development Establishment (ADE) along with contribution from other laboratories and Indian industries. The test was witnessed by many senior scientists from various DRDO laboratories along with the representatives from the production partner.

Raksha Mantri Shri Rajnath Singh has congratulated DRDO for the successful flight-test of the ITCM and stated that successful development of indigenous long range subsonic cruise missile powered by indigenous propulsion is a major milestone for Indian defence R&D.

Secretary Department of Defence R&D & Chairman DRDO Dr Samir V Kamat congratulated the entire team of DRDO on successful conduct of the ITCM launch.

 

[JaneBhiDoYaaron]

Interesting read on how china dumps destroys and jacks up prices. Thank god for Modi government seeing through this one.

China's API extortion from Indian pharma breaking down

The API coming from China started getting dumped in India at very low prices.

www.fortuneindia.com

 

[DDG-80]

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[DDG-80]

BFW inaugurated a modern manufacturing facility in Tamil Nadu with a Rs 200 crore investment. The plant in Devaganapalli, Hosur, aims to produce 10,000 CNC machines yearly, positioning BFW as a key player in the industry.

BFW opens plant in Tamil Nadu’s Hosur - Times of India

India Business News: CHENNAI: Machine tool solution provider Bharat Fritz Werner Ltd (BFW) has inaugurated its manufacturing facility at Devaganapalli near Hosur in Tamil .

timesofindia.indiatimes.com

 

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[DDG-80]

India's services exports grow 11.4% in 2023: UNCTAD report

Despite global economic uncertainties, India's services exports surged by 11.4% to $345 billion in 2023, outpacing China, whose shipments from the sector shrank by 10.1% to $381 billion, as per a UNCTAD report. Key sectors driving India's growth include travel, transport, medical, and...

m.economictimes.com

 

[DDG-80]

Tata Electronics building Hi-tech machines to make iPhone casing

Tata Electronics is internally developing "very sophisticated" and complex high-precision machines used to produce the casing of these iPhone, sources told ET.

m.economictimes.com

 

[DDG-80]

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