India Economy Thread

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Made-in-India iPhones Get Trashed on Chinese Social Media

Some in China aren’t fans of India-made iPhones. But first...
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A customer holds iPhone 15 Pro smartphones at an Apple Inc. store in Mumbai.
By Sankalp Phartiyal

Some in China aren’t fans of India-made iPhones. But first...

On the defensive​

The iPhone 15 is the first generation of Apple Inc.’s marquee product to launch with units made in India as well as China. That’s a big deal. Apple’s India manufacturing has advanced rapidly over the past couple of years to now ship as early as China, albeit at a much smaller quantity.
But while India celebrates, some in China are fuming.
The way I came across this was on X, formerly Twitter, where someone manipulated a screen grab of my article — original headline being Apple to Sell Made-in-India iPhones on Launch Day for First Time — to make it seem like I was reporting about iPhones contaminated with animal matter coming off Indian assembly lines.

The prank emerged amid a flurry of snarky nationalistic posts spreading across Chinese social media, Hong Kong-based colleague Zheping Huang helped me confirm. One example of the misinformation percolating on Weibo included the suggestion that European customers are rejecting India-made iPhones due to poor quality and Chinese units are being sent as replacements.

The flood of fake news stems from the fact that China makes the majority of the world's iPhones — an achievement many are rightly proud of and that provides employment for more than a million people across the country. China prides itself on its tech and manufacturing prowess, and from where I stand, this anti-India sentiment suggests a measure of insecurity about how long that will be sustained. The world’s number two economy is looking over its shoulder.

But, let’s be fair here, Indians give China and its products a hard time too. Our social media discourse has its share of caricatures about the people on the other side of the northern border. Indians buy Chinese tech products, from home lighting solutions to smartphones, without ever fully trusting the country.
Think of Xiaomi Corp. and Oppo’s experience dealing with the New Delhi government, which handed down fines and alleged a series of misdeeds by the Chinese phone makers. Or the 200-plus Chinese apps that India banned — TikTok among them — after a border clash with the Chinese military.
Still, it’s a bit ironic for allegations of subpar production to be coming out of China, after that country took so long to shake off the prejudice around “made in China” as a mark of inferior quality.
Also, I just don’t think there’s that much to worry about. Apple boss Tim Cook has said he wants to do more business in India, but earlier this year he also called Apple’s relationship with China “symbiotic.”

India isn’t going to replace China in Apple’s supply chain anytime soon. It could take about eight years to move just 10% of Apple’s capacity out of China. In other words, it might take us less time to find a successor to the smartphone as everyone’s go-to gadget than see the bulk of iPhones made outside China.
I understand the sourness among some of China’s population. And I appreciate those among its netizens taking the time to debunk the misinformation and set the record straight.
And if you do find a defect with your next iPhone, I’d advise looking past the country of origin when looking for the cause.

​

— With assistance from Jessica Nix and Zheping Huang
 

I Investigated Why India’s Infrastructure Is Failing!​

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India's fiscal deficit decreases significantly to 8% of annual target
Mudit Dube
Jul 31, 2024
05:23 pm

India's fiscal deficit, a crucial indicator of its financial health, has narrowed significantly in the first quarter of FY25.

The deficit, which represents the gap between government spending and revenue, stood at 8.1% of the full-year target for FY25. This marks a substantial decrease from the same period last year when it stood at 25.3%. The fiscal deficit for Q1 FY25 stood at ₹1.36 lakh crore.

Deficit control
RBI dividend and revenue receipts help contain deficit the fiscal deficit was calculated at 8.4% of a target of ₹16.13 lakh crore, based on interim Budget numbers for estimates released on July 23. A higher-than-expected RBI dividend of ₹2.11 lakh crore has played a significant role in containing the fiscal deficit. This was further aided by an increase in revenue receipts and subdued capital spending during this period.

Revenue growth
Revenue receipts and tax revenue see an increase revenue receipts for the first quarter were higher at ₹8.3 lakh crore or 26.5% of the full-year target based on new Budget numbers, compared with 22.4% in Q1 FY24. Tax revenue also saw an increase, reported at 21% of the full-year estimate, up from 18.6% in the previous year. However, capital expenditure (Capex) utilization was lower at 16.3% of Budget estimates compared with 27.8% in Q1 FY25.

Spending overview
Government spending and loan disbursement in Q1 FY25 Loans disbursed in the first quarter amounted to ₹30,009 crore, which is just 17.5% of the target compared with 27.2% in Q1 of the previous fiscal year. Overall, government spending accounted for 20% of its total expenditure of ₹48.2 lakh crore budgeted for the current fiscal year.
These figures provide an insight into the government's financial management during this period.

Deficit reduction
Government aims to further reduce fiscal deficit in its July 23 Budget announcement, the government further reduced its fiscal deficit target to 4.9% of GDP from the 5.1% target set in the interim Budget. Union Finance Minister Nirmala Sitharaman stated that the government aims to further reduce the fiscal deficit to 4.5% or below by FY26.
This indicates a continued focus on fiscal consolidation in the coming years.
 
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Micron starts getting funds from Indian govt under semiconductor PLI scheme

The government initiated disbursement under the PLI scheme to Micron Technology, with Tata to follow. This move supports India's semiconductor sector, with Micron and Tata starting pilot manufacturing. Full-scale production for Micron is expected by December 2025, and Tata's main plant in Assam...
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Still long.way to go but slowly atleast on track after wasting many decades
 
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Not on track. Manufacturing share in economy has only fallen in last 10 years. Number 6 is Korea, a tiny nation! We need to be atleast 3 times bigger for our size. Manufacturing is a sad story.
 
Thinking said:
Not on track. Manufacturing share in economy has only fallen in last 10 years. Number 6 is Korea, a tiny nation! We need to be atleast 3 times bigger for our size. Manufacturing is a sad story.
Click to expand...
This way - Pakistan is 5th most populated country in the world and should be on 5th place.

But in reality - it does not work that way.

As said - india not done well previously when we supposed to under Congress government
 
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