Indian Economy: News, Updates and Discussions

[harpy1]

Reserves held correlate to imports
China level is rediculous levels
India Forex is very good too ..
Bangladesh is solid
Pakistan is poor it's awful....nation of 240 million should have much bigger gdp and multiple times bigger Forex

 

[Vikramaditya1]

Build it to 1 trillion in the next 5 years, buy dollar bonds, ignore the dollar dumping propaganda it's still the most important currency and our largest export partner is the US.

 

[TheEconomist]

Build it to 1 trillion in the next 5 years, buy dollar bonds, ignore the dollar dumping propaganda it's still the most important currency and our largest export partner is the US.

India is spending forex to buy gold. I don't really understand the logic but am sure the RBI must have a good reason for it.

RBI joins central bank gold rush, buys 9 tonnes in Jul-Sep

RBI data as of 10 November shows the total reserves at $590 billion and value of gold held at $45.5 billion or 7.7% of the total

www.livemint.com

 

[Vikramaditya1]

India is spending forex to buy gold. I don't really understand the logic but am sure the RBI must have a good reason for it.

RBI joins central bank gold rush, buys 9 tonnes in Jul-Sep

RBI data as of 10 November shows the total reserves at $590 billion and value of gold held at $45.5 billion or 7.7% of the total

www.livemint.com

Ah gold is more like an investment for RBI rather than reserves. The gold appreciates more than dollar or any other currency over the years. So, it is only logical for RBI to buy gold. Although it's slightly risky but it is a good long term investment plan.

 

[nahtanbob]

India is spending forex to buy gold. I don't really understand the logic but am sure the RBI must have a good reason for it.

RBI joins central bank gold rush, buys 9 tonnes in Jul-Sep

RBI data as of 10 November shows the total reserves at $590 billion and value of gold held at $45.5 billion or 7.7% of the total

www.livemint.com

don't private Indian citizens accumulate gold ?

 

[TheEconomist]

don't private Indian citizens accumulate gold ?

This is only the govt owned Gold. It's not in the form of jewellery.

Indian women hold 18000 tonnes of gold, that's more than the reserves of the USA, IMF and Swiss Bank put together. 11% of world's total gold is owned by Indian women.

 

[CallSignMaverick]

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[CallSignMaverick]

Titan Engineering to spend Rs 220 crore to ramp up fab component unit

https://www.financialexpress.com/business/express-mobility/industry-express-mobility/titan-engineering-to-spend-rs-220-crore-to-ramp-up-fab-component-unitnbsp/3338178/lite/

India is looking to create a green channel for ecommerce exports on the lines of China's cross-border ecommerce-integrated pilot zones which offer streamlined customs procedures to promote faster movement of such shipments.

Read more at:

Green channel based on China model likely to speed up ecommerce shipments

The dedicated ecommerce export hubs will have warehousing facilities for easy storage, customs clearance, returns processing, labelling, testing and repackaging. The move is expected to aid sellers relying on online platforms, including social media such as Instagram, to sell their merchandise.

economictimes.indiatimes.com

Qualcomm India to invest ₹177.27 cr for new design centre

Qualcomm India to invest ₹177.27 cr for new design centre

The facility in Chennai, which will focus on research in areas that complement wi-fi technologies, is expected to generate jobs for up to 1,600 professionals

www.livemint.com

TEAL to invest 430 crore in Hosur Chennai: Titan Engineering & Automation Limited (TEAL) | Chennai News - Times of India

TEAL, a subsidiary of Titan Company Limited, will invest 430 crore in Hosur, Chennai. The investment will be used for wafer tab equipment manufacturing and automation and manufacturing services businesses. The move is expected to generate employment for 1,400 people. Find out more about TEAL's...

timesofindia.indiatimes.com

Apple Supplier Pegatron To Invest Rs 1,000 Cr In Tamil Nadu, Creating 8,000 Jobs

Pegatron, which entered the Indian market in 2021 under the production-linked incentive (PLI) scheme, initially invested Rs 1,100 crore in setting up its unit at Mahindra World City in Singaperumalkovil, , pegatron, investment, Tamil Nadu Global Investors Meet 2024

www.businessworld.in

Tata Power to invest Rs 55,000 crore on wind and solar power generation in Tamil Nadu

The Tata Group firm is also setting up a solar cell and module manufacturing plant in the state

www.businesstoday.in

https://www.equitybulls.com/category.php?id=339418

Supermac Industries Establishes New Facility at Dharuhera; Eyeing American Markets for Future - Wire & Cable India

Supermac Industries (India) Limited, set up in 1974, caters to numerous industries in the cables sector such as power, optical fibre, house wiring control cables, and medical lines.

www.wirecable.in

CHRYSO INDIA on LinkedIn: #chrysoindia #hyderabad #innovation #growth #constructionchemicals | 13 comments

Exciting News! ð SAINT-GOBAIN CONSTRUCTION CHEMICALS (CHRYSO India) unveils its 6th State-of-the-Art Manufacturing Unit at Hyderabad. The grand⦠| 13 comments on LinkedIn

www.linkedin.com

Abhinandan Lodha Group plans Rs 2,000-cr luxury hotels in Ayodhya, Benares, Vrindavan

While several hospitality chains have signed pacts for properties here, there is no operational hotel in the luxury segment in Ayodhya yet. The new temple complex in Ayodhya has led to heightened infrastructure development and economic activities in and around the city. This is expected to boost...

economictimes.indiatimes.com

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Honda Motorcycle commissions 650K additional production capacity in Gujarat​

https://www.business-standard.com/companies/news/honda-motorcycle-commissions-650k-additional-production-capacity-in-gujarat-124010800351_1.html

Nuvama's JV with Cushman & Wakefield to raise ₹3,000 crore to invest in India

The JV's first real-estate fund will invest in Grade A+ office spaces in micro markets across Bengaluru, NCR, Pune, Mumbai, Chennai and Hyderabad, which account for more than 70% of India's leasing activity.

www.livemint.com

 

[Thevilone]

https://en.wikipedia.org/wiki/List_of_countries_by_foriegn-exchange_reserves

At the end of the calender year 2023, China remains dominant as the number one holder of foriegn exchange in the world; holding more than next 4 put together.

All BRICS full-members except South Africa(rank 37th) feature in the top 10, China ranks 1st, India 4th, Russia 5th and Brazil 10th in the rankings.

Among GCC countries only Saudi Arabia(7th) and UAE(20th) feature in the Top 20. Israel remains at 18th.

Talking of South-East Asia, with only 19 Billion USD Bangladesh ranks 64th just ahead of Nepal at 67th. Amongst smaller countries Lanka(rank 110) with a population of 2.2 crores has USD 3.5 Billions, Maldvies(rank 146) of only 5 lakhs has 0.76 Billions, Bhutan(rank 141) with 8 lakh population has about a Billion. Afghanistan's figures havent been updated since 2021 where it stood at rank 76 with 9.4 Billion USD. No figures are provided by the TTA regime.

Pakistan has 8.2 Billions USD and ranks 79th, the second-lowest rank amongst all countries with population above 100 million. Only Ethiopia(rank 108) with population of 11.2 crores and reserves of 4 Billion USD has lower forex reserves.

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https://www.dawn.com/news/1793742
Pakistan cannot claim the money Saudis parked as part of their "Forex reserve". This is borrowed money. Pakistan's own forex reserves are barely 2-3 Billion which would mean it's not even in the top 100 countries. 79 is too high for Pakistan.

 

[Beijingwalker]

India is always a big trade deficit country only second to US. Where does it get its foreign reserves from?
Not trolling, just an honest question.

 

[DDG-80]

https://twitter.com/x/status/1744320461151113622

 

[pikkuboss]

India is always a big trade deficit country only second to US. Where does it get its foreign reserves from?
Not trolling, just an honest question.

India has other sources of forex income. You can't only judge by goods trade deficit. We have Services surplus, FDI surplus, Remittance surplus, we are a net creditor country means we give more loans than we take. I am leaving the FPI part aside still we have negligible Balance of payment to GDP. If RBI doesn't keep increasing our Forex reserve so rapidly, we will be a surplus BOP country.

 

[CallSignMaverick]

KFC reaches 1,000 stores in India, to add one lakh jobs

KFC reaches 1,000 stores in India, to add one lakh jobs

Quick service restaurant chain KFC has touched the 1,000 th restaurant mark in India.

www.thehindubusinessline.com

At this rate, Starbucks will have close to 1200 outlets in India by 2030.

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Mercedes to invest 200cr in India operations this year | Kolkata News - Times of India

Mercedes-Benz will invest Rs 200 crore in India operations this year with the introduction of 12 products, including three new electric vehicles (EVs). The luxury carmaker's cumulative investment in the Indian subsidiary will reach Rs 3,000 crore. Sales revenue is expected to exceed Rs 15,000 crore.

timesofindia.indiatimes.com

Godrej Agrovet expresses interest in setting up palm oil processing unit in Telangana

A delegation of Godrej Agrovet Company Ltd led by its Managing Director Balram Singh Yadav met Chief Minister Revanth Reddy at the state secretariat here today and held discussions in this regard, an official release said. Reddy promised to extend all kinds of support to expand the existing palm...

economictimes.indiatimes.com

Infibeam Avenues signs pact with Gujarat to invest Rs 2,000 crore by 2030

Infibeam Avenues To Invest Rs 2,000 Crore In Gujarat By 2030

Fintech firm Infibeam Avenues Ltd. on Tuesday said it has inked a pact with the Gujarat government to invest Rs 2,000 crore in the state by 2030.

www.ndtvprofit.com

$9 billion investments in renewable energies in Tamil Nadu

https://twitter.com/x/status/1745189016536826354

https://twitter.com/x/status/1745097412849373678

 

[DDG-80]

Apple's India crop gets a boost in 2023, produces ₹1 lakh crore iPhones

The production figures achieved by Apple have exceeded the targets under the production-linked incentive (PLI) scheme and may allow the company's contract manufacturers to get more residual incentives depending on the outlay, officials said. The feat is a win for the government, which has been...

m.economictimes.com

 

[Vaqeel]

Indian Manufacturers pave the way for two-wheeler boom in Africa

According to the World Bank, Africa’s population is expected to reach 2.8 billion by 2060, which will result in local government’s focus on developing and strengthening transport networks. The continent’s two-wheeler market is projected to cross US$10 billion by 2022 owing to population, rising...

www.forbesafrica.com

Indian EV maker One Electric starts production in Kenya, eyes further expansion in Africa

The company has set up a joint venture with a local vehicle manufacturing company to start production of its Kridn motorcycles. All the components, technology and technical know-how have been supplied by the company from India. Local manufacturing will help the company to quickly scale its...

economictimes.indiatimes.com

TVS Motor introduces seven new products in Ghana

"Our products are engineered specifically to cater to the demands of the African market while delivering superior quality and reliability," Rahul Nayak said.

www.newindianexpress.com

For Nairobi, how the umbilical chord for mobility runs from India

Brands from the stables of Bajaj and TVS are the hot favourites among the local population

www.thehindubusinessline.com