Indian Economy : News,Discussions & Updates
- Thread starter Butter Chicken
- Start date
-
- Tags
- indian defence forum
Seriously???
Pakistans rating is B3 while Indias is Baa2 , huge difference. India had jumped from Baa3 to Baa2 just 2 years ago
Another good read @Ashwin on the issue
View: Statisticians are not crooks. But their methodologies do need to change
View: Statisticians are not crooks. But their methodologies do need to change
Amazon, Walmart Face the Ire of 70 Million India Shopkeepers
Amazon, Walmart Face the Ire of 70 Million India Shopkeepers
Ari Altstedter
BloombergDecember 2, 2019
View photos
(Bloomberg) -- In the heart of New Delhi’s largest wholesale bazaar, merchants who normally compete with each other have united against a common enemy.
“Amazon, Flipkart!” one merchant after another shouts into a microphone from a small stage in Sadar Bazaar’s central traffic circle. Some 50 other shopkeepers gathered around shout back in unison: “Go back! Go back!”
The sit-in, which created more chaos than usual among the rickshaws, motorbikes and ox-carts plying the market road, was one of as many as 700 protests against Amazon.com Inc. and Walmart Inc. -- owner of local e-commerce leader Flipkart -- that organizers say took place at bazaars across India on a recent Wednesday.
Predatory Pricing
India’s shopkeepers are mobilizing against the global e-commerce giants, alleging they are engaged in predatory pricing in violation of new rules meant to protect local businesses. At stake is the future of retailing in a country with 1.3 billion consumers, where Walmart and Amazon have sunk billions of dollars trying the crack the market and capture its growth potential.
“Amazon and Flipkart are a second version of the East India company,” said Praveen Khandelwal, national secretary of the Confederation of All India Traders at the Delhi protest, referring to the British trading house whose arrival in India kicked off nearly 200 years of colonial rule. “The motive of Amazon and Flipkart is not to do business, but to monopolize and control.”
Wonder what they will say once Reliance joins in.
A surge in GST collection could be an outcome of the implementation of notification 49A for ITC, which heavily impacts MSMEs. This may actually reduce growth in the long run, with only short term gains in revenue. We will likely see a rise in inflation.
I really don't understand why our govts approaches are so primitive to have so many redundant sections functioning... Ration card, bpl card, voter id, Adhar card and what not.... Why can't the Adhar card (Central population Card) be chip based and have all the required information and abolish all other white elephant babus holding useless positions/ departments, just to manage all these never ending strings of cards...
India's November gold imports jump to 5-month high as prices retreat
India’s gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world’s second-biggest market for the metal restocked after a fall in prices, a government source said on Tuesday.
A sales person shows a gold ring to customers at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Ahmedabad, India, October 28, 2016. Hindus purchase ornaments and utensils on the festival, celebrated two days before Diwali, the festival of lights. REUTERS/Amit Dave
Higher imports by the South Asian country could support global prices that have risen more than 12% so far in 2019, but could also widen India’s trade deficit and put pressure on the rupee. India fills nearly all of its gold demand through imports.
India imported 71 tonnes of gold in November, compared with 40 tonnes in October, the source said on condition of anonymity as he was not authorised to speak to media.
Imports were down 16% from November 2018, however, he added.
Gold prices corrected after the Diwali festival, giving an opportunity for jewellers to replenish inventory, said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions.
Indians celebrated the Dhanteras and Diwali festivals in October, when retail demand for gold peaks as it is considered auspicious and invokes lasting prosperity.
In November, local gold futures fell to 37,477 rupees ($522.18) per 10 grams after hitting an all-time high of 39,885 rupees in September.
In value terms, November imports totalled $2.94 billion, slightly higher than last year’s $2.76 billion, the source said.
Gold started trading at a premium in India to the official domestic price last month for the first time in 5-1/2 months on an improvement in demand from jewellers, which prompted refiners to increase gold dore imports, said a Mumbai-based bullion dealer at a gold importing bank.
“Imports were not attractive for refiners until October due to massive discounts. As gold started trading in premium, they increased imports,” he said.
Dealers charged a premium of up to $1.5 an ounce over official domestic prices in November, compared with a discount of up to $21 an ounce in October. The domestic price includes a 12.5% import tax and 3% sales tax.
The share of dore - a partially refined form of gold - in India’s gold imports in November was 33 tonnes, compared with imports of 8.5 tonnes in October, the government official said.
India’s gold imports could fall below 40 tonnes in December, said a Mumbai-based dealer with a gold importing bank, which would mark a drop from last year’s 73 tonnes.
($1 = 71.7700 Indian rupees)
India's November gold imports jump to 5-month high as prices retreat
India’s gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world’s second-biggest market for the metal restocked after a fall in prices, a government source said on Tuesday.
A sales person shows a gold ring to customers at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Ahmedabad, India, October 28, 2016. Hindus purchase ornaments and utensils on the festival, celebrated two days before Diwali, the festival of lights. REUTERS/Amit Dave
Higher imports by the South Asian country could support global prices that have risen more than 12% so far in 2019, but could also widen India’s trade deficit and put pressure on the rupee. India fills nearly all of its gold demand through imports.
India imported 71 tonnes of gold in November, compared with 40 tonnes in October, the source said on condition of anonymity as he was not authorised to speak to media.
Imports were down 16% from November 2018, however, he added.
Gold prices corrected after the Diwali festival, giving an opportunity for jewellers to replenish inventory, said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions.
Indians celebrated the Dhanteras and Diwali festivals in October, when retail demand for gold peaks as it is considered auspicious and invokes lasting prosperity.
In November, local gold futures fell to 37,477 rupees ($522.18) per 10 grams after hitting an all-time high of 39,885 rupees in September.
In value terms, November imports totalled $2.94 billion, slightly higher than last year’s $2.76 billion, the source said.
Gold started trading at a premium in India to the official domestic price last month for the first time in 5-1/2 months on an improvement in demand from jewellers, which prompted refiners to increase gold dore imports, said a Mumbai-based bullion dealer at a gold importing bank.
“Imports were not attractive for refiners until October due to massive discounts. As gold started trading in premium, they increased imports,” he said.
Dealers charged a premium of up to $1.5 an ounce over official domestic prices in November, compared with a discount of up to $21 an ounce in October. The domestic price includes a 12.5% import tax and 3% sales tax.
The share of dore - a partially refined form of gold - in India’s gold imports in November was 33 tonnes, compared with imports of 8.5 tonnes in October, the government official said.
India’s gold imports could fall below 40 tonnes in December, said a Mumbai-based dealer with a gold importing bank, which would mark a drop from last year’s 73 tonnes.
($1 = 71.7700 Indian rupees)
India's November gold imports jump to 5-month high as prices retreat
India's services industry returns to growth in November on strong demand - PMI
India’s dominant services sector bounced back to growth in November, expanding at its fastest pace in four months, driven by a strong pick-up in new business, a private sector survey showed on Wednesday.
The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 52.7 last month from 49.2 in October, above the 50-mark separating contraction from growth on a monthly basis.
“The main positive to be taken from November’s survey was a renewed increase in new work, which provided the platform for growth of services activity and employment whilst resulting in an improvement in business confidence,” said Pollyanna De Lima, principal economist at IHS Markit, in a press release.
A sub-index tracking demand jumped to 53.2 from October’s 50.1, encouraging firms to accelerate hiring at the fastest pace in three months.
Wednesday’s upbeat survey comes after official data showed India’s annual economic growth slowed to 4.5% in the July-September quarter, its weakest pace since 2013.
The Reserve Bank of India has cut its key interest rate five times this year and was expected to lower borrowing costs by 25 basis points to 4.90% on Thursday, according to a Reuters poll.
The sharp expansion in both services and manufacturing activity pushed a composite index to a four-month high of 52.7 in November, from 49.6 in the previous month.
India's services industry returns to growth in November on strong demand - PMI
India’s dominant services sector bounced back to growth in November, expanding at its fastest pace in four months, driven by a strong pick-up in new business, a private sector survey showed on Wednesday.
The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 52.7 last month from 49.2 in October, above the 50-mark separating contraction from growth on a monthly basis.
“The main positive to be taken from November’s survey was a renewed increase in new work, which provided the platform for growth of services activity and employment whilst resulting in an improvement in business confidence,” said Pollyanna De Lima, principal economist at IHS Markit, in a press release.
A sub-index tracking demand jumped to 53.2 from October’s 50.1, encouraging firms to accelerate hiring at the fastest pace in three months.
Wednesday’s upbeat survey comes after official data showed India’s annual economic growth slowed to 4.5% in the July-September quarter, its weakest pace since 2013.
The Reserve Bank of India has cut its key interest rate five times this year and was expected to lower borrowing costs by 25 basis points to 4.90% on Thursday, according to a Reuters poll.
The sharp expansion in both services and manufacturing activity pushed a composite index to a four-month high of 52.7 in November, from 49.6 in the previous month.
India's services industry returns to growth in November on strong demand - PMI
Indian Railways' operational efficiency may be at its worst since 1951
98.4% figure was achieved after strong arming other sarkari companies to shell extra money as advance to dress up the numbers otherwise it would be over 102. Tell me how they are different than Congressi frauds who took common public as idiot?
These jokers are still stuck with Godse and Hindu-Muslim, 6 year after they are voted to power. That's the only thing matter to them, to hell with issues of common man or country, they couldn't care less.
Parliament of India is stuffed with low IQ extremists incapable of making a single statement of sense as if it's their bedroom or guest room where they can speak whatever they want, however low it is. It's so repulsive and stinking, totally clueless clowns.
98.4% figure was achieved after strong arming other sarkari companies to shell extra money as advance to dress up the numbers otherwise it would be over 102. Tell me how they are different than Congressi frauds who took common public as idiot?
These jokers are still stuck with Godse and Hindu-Muslim, 6 year after they are voted to power. That's the only thing matter to them, to hell with issues of common man or country, they couldn't care less.
Parliament of India is stuffed with low IQ extremists incapable of making a single statement of sense as if it's their bedroom or guest room where they can speak whatever they want, however low it is. It's so repulsive and stinking, totally clueless clowns.
When inflation is spoken of, what does it mean ? Inflation in basket of goods or infation overall ? like every factory product. Because i noticed for the last 7-8 years prices of commodities have almost 2x~3x yet the wages haven't. People are losing purchasing power.
Yeah, covers pretty much everything. Food, fuel, power, manufactured goods, raw materials etc.
Purchasing power will always reduce, it's the norm. What improves is the quality of work, which means higher income. But with half our population choosing farming over education, their purchasing power will always be low.
These are car sales charts for October and November 2019 ( Team-Bhp). Looks like car manufacturing has bounced back to last year’s numbers. The most plausible explanation for the sudden drop during April- Sept period is to clear BS-IV inventory. Actual scenario will be clear by Feb 2020. But overall the apocalyptic scenario played by media due to sudden drop in car manufacturing is pure BS.