Indian Economy: News, Updates and Discussions

[DDG-80]

Israeli chipmaker Tower closes in on $8 billion fabrication plant in India

If Tower’s proposal is accepted by the government, it would be the first semiconductor company with real fabrication pedigree to join India’s $10 billion chip manufacturing scheme, and will be a big boost to New Delhi’s chipmaking ambitions.

www.google.com

 

[DDG-80]

Indian consumer electronics break boundaries; export surge to the US and Europe

Companies like Havells, Dixon, Voltas and Blue Star have said in their December quarter earnings call that they are forming a base for exports in the developed nations like the US.

economictimes.indiatimes.com

 

[DDG-80]

India’s export of machines, auto parts, steel and aluminum products, internal combustion (IC) engines, pumps and other items to Russia are on the rise, with outbound shipments in the ‘engineering goods’ category doubling in 2023 to cross a record $1-billion mark.

Engineering goods export to Russia hits record high as Ukraine war enters its third year

Despite lack of a smooth payment mechanism between India and Russia

indianexpress.com

 

[DDG-80]

For the quarter spanning October to December 2023, bulk drugs and intermediates imports reported a substantial 33.3% decline at $770.96 million, in contrast to the $1.16 billion recorded in the same period of the preceding year. Quantity-wise, there was a corresponding drop of around 32%, with imports totalling 69,170 metric tonnes compared to 1.01 lakh metric tonnes during the same quarter in the previous fiscal year.

Bulk Drugs and Drug Intermediates Imports Set to Drop by 12% in FY24

Imports of bulk drugs and drug intermediates into India have experienced a notable 12% decline in the first three quarters of the fiscal year 2023-24, despite

www.chemanalyst.com

 

[DDG-80]

https://twitter.com/x/status/1757358219272605905

 

[DDG-80]

https://twitter.com/x/status/1757586388252242061

 

[DDG-80]

https://twitter.com/x/status/1757645955476717928

 

[DDG-80]

https://twitter.com/x/status/1757656929852182680

 

[pva]

https://twitter.com/x/status/1757586388252242061

https://twitter.com/x/status/1757593258543239624

From the same thread.

 

[DDG-80]

https://twitter.com/x/status/1757785142687609103

@Pingle @Faceless @GatlingGun @ApexWarrior @Archie @indushek

 

[CallSignMaverick]

Megaproject worth more than $8 billion
13.2 MTPA steel production plant to come up at earlier failed POSCO site.
India as a whole produced 140 MTPA steel last year. That's how huge this is.

https://twitter.com/x/status/1758051753973657911

 

[DDG-80]

• India’s overall exports (Merchandise and Services combined) in January 2024* is estimated to be USD 69.72 Billion, exhibiting a positive growth of 9.28 per cent over January 2023. Overall imports in January 2024* is estimated to be USD 70.46 Billion, exhibiting a positive growth of 4.15 per cent over January 2023.

India's January exports up 3%, trade deficit at a 9-month low despite Red Sea crisis

In December 2023, India's merchandise trade deficit had narrowed to just under $20 billion after exports rose marginally to $38.45 billion while imports fell by nearly 5 percent year-on-year.

www.moneycontrol.com

 

[DDG-80]

India’s Services Trade Surplus Hits Record High to $44.9 billion in the October-December quarter

India's services trade surplus reached an unprecedented $44.9 billion in the October-December quarter of FY24, marking a 16% year-on-year increase....

www.google.com

 

[DDG-80]

https://twitter.com/x/status/1758509563811127802

 

[DDG-80]

E-commerce giant Amazon exports from India crossed $8 billion in 2023​

https://www.business-standard.com/companies/news/e-commerce-major-amazon-surpasses-8-billion-in-exports-from-india-in-2023-124021500966_1.html