Indian Economy : News,Discussions & Updates

randomradio said:
You missed the part where it said "designed from scratch".

Those articles aren't for public consumption. The Xeon chips were fully designed here.

Indian Team Designs Intel's First 'true' Quad-core Chip
Designed by Intel engineers in Bangalore, India, the chip lineup includes the company's first quad-core and six-core chips produced on a single piece of silicon.

"This is a tremendous accomplishment," said Praveen Vishakantaiah, the chief architect of Dunnington, discussing the server chip in a phone interview. "No other team has been able to accomplish something like this so fast."

Moreover, the Bangalore design center is the first Intel team outside the U.S. to complete the design of a 45-nanometer processor, he said.

Why don't you ask around within the industry yourself?
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I didn't miss the " Designed from scratch". That's the hilarious part. No complex chip, forget about processors, is designed from scratch!! It's always a delta over previous generation. Anybody claiming to design from scratch, is just plain old BS.

I don't need to ask around, because I am a part of this industry and I do have friends in Intel India. I know what shit goes on there.

You are free to believe in these articles. They also need audience :).
 
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randomradio said:
Taiwan, Israel, even South Korea made the right economic decisions upon their inception and are reaping the rewards. They pioneered in their respective fields, so they will naturally hold the advantage. Otoh, China and India made very bad economic decisions, which took decades to fix. So now China and India can only give chase in these fields as of today.

The fact is only countries like India and China are among the few, possibly the only ones, that can catch up with pioneers of high end technologies. When you pioneer, the entire world is your market. When you chase, you can only depend on your own market, and your govt protecting your market, because you can't win when the fight is fair. That's why you can't consider Taiwan, Korea and Israel and their small GDPs as an example here. Their GDPs are irrelevant when they are selling to the US, EU, India and China, while being leaders in their respective fields.

If, someday, India and China pioneer in space, AI, biotechnology etc, it will become practically impossible for the other three countries to ever catch up since they can't use the advantage of their domestic market and protectionist policies to drive their R&D.

When it comes to India and China, it's always sunny side up. There are no other third world countries in the world with advanced space and military technologies.
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Don't group India with China. We are way behind and unless we acknowledge that fact we can't achieve what they have achieved so far.
 
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Bali78 said:
Don't group India with China. We are way behind and unless we acknowledge that fact we can't achieve what they have achieved so far.
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Sure. I have already said that before, 2025-30. China is already doing stuff today that we can be expected to do between 2025-30.
 
Bali78 said:
I didn't miss the " Designed from scratch". That's the hilarious part. No complex chip, forget about processors, is designed from scratch!! It's always a delta over previous generation. Anybody claiming to design from scratch, is just plain old BS.

I don't need to ask around, because I am a part of this industry and I do have friends in Intel India. I know what shit goes on there.

You are free to believe in these articles. They also need audience :).
Click to expand...

Designed from scratch is based on context, it's not literal. Everything is designed from the previous standards.
 
India Doubles Tariffs on 328 Textile Items to Curb Chinese Imports

The step was taken to counter cheap Chinese imports, which have been flooding the Indian market via Nepal, Sri Lanka and Bangladesh, with whom India has free trade agreements.

New Delhi (Sputnik) — India has doubled the import duty on as many as 328 textile products in a bid to provide relief to domestic manufacturers, a government statement said on Tuesday. Last month, the government increased import duties on 50 textile products.

The notification, tabled in the lower house of parliament on Tuesday, seeks to "increase customs duty on 328 tariff lines of textile products from the existing rate of 10 percent to 20 per cent…under Section 159 of the Customs Act, 1962."

Last week, the Confederation of Indian Textile Industry said in a release that in 2017-2018, India exported textile goods worth $1,362 million to China, but imports from China were to the tune of $2,905 million, indicating a trade deficit of $1,543 million.
"It is pertinent to mention that during 2010-11 to 2013-14, India was a net exporter of textile and apparel products to China. However, after that, India's trade deficit with China has been constantly increasing," said Sanjay Jain, chairman of the Confederation of Indian Textile Industry.

Indian textile manufacturers have been nudging the government to ask China to give Indian textile products free access akin to the products from Vietnam, Indonesia, Pakistan and Cambodia.

India was a market leader in cotton yarn, but has lost almost 50% of its market to Vietnam over the last three years, creating excess capacity in the system. India's cotton yarn exports to China have decreased by 53% from 2013 to 2017, while Vietnam's exports of cotton yarn to China have increased by approximately 88% during the same period.
 
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India’s economy is an elephant that’s starting to run, says IMF
India’s economy is on track to hold its position as one of the world’s fastest-growing economies, according to the International Monetary Fund (IMF)
Last Published: Wed, Aug 08 2018. 12 03 PM IST

Vrishti Beniwal, Bloomberg

elephant-klDG--621x414@LiveMint.jpg

Indian economy was described by Ranil Salgado, the IMF’s mission chief for India, as an elephant starting to run, with growth forecast at 7.3% in the fiscal year. Photo: Bloomberg

New Delhi: India is on track to hold its position as one of the world’s fastest-growing economies as reforms start to pay off, according to the International Monetary Fund (IMF).

The $2.6 trillion economy was described by Ranil Salgado, the IMF’s mission chief for India, as an elephant starting to run, with growth forecast at 7.3% in the fiscal year through March 2019 and 7.5% in the year after that. The nation accounts for about 15% of global growth, according to the Washington-based fund.

Key risks flagged by the IMF in its annual Article IV assessment of the economy include higher oil prices, tightening global financial conditions and tax revenue shortfalls. Authorities should take advantage of stronger growth to bring down debt levels, simplify the consumption tax system and continue to gradually tighten monetary policy, it said.

After a shock cash ban in late 2016 and a disruptive nationwide sales tax last year, India’s economyis once again gaining momentum. Growth reached the fastest pace in seven quarters in January through March, and high frequency indicators from purchasing managers’ surveys to auto sales data show the economy is likely to grow above 7%.


Click here for enlarge

Risks are mounting though. The rupee has plunged 7% against the dollar this year, the worst performer among major Asian currencies, threatening the inflation outlook. The Reserve Bank of India delivered its second straight interest rate hike last weekas policy makers seek to maintain economic stability against a global backdrop of trade tensions and high oil prices.

Other key points from the report:

Recovery is underway led by an investment pickup External vulnerabilities remain contained, but have risen India’s export market share remains low; need to boost competitiveness. There’s need for maintaining exchange rate flexibility. FX intervention should be two-way and limited to disorderly market conditions. Government debt and budget deficit key macroeconomic challenges. Need labour, land and product market reforms for jobs growth. More needs to be done to ensure health of state-run lenders.


In PPP terms, India accounts to 15% of global growth. Thats is a good news

Source: India’s economy is an elephant that’s starting to run, says IMF
 
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India’s Largest Refiner Plans $25B Output Boost
Indian Oil Corporation, the country’s biggest refining company, plans to invest US$25.5 billion (1.75 trillion rupee) in boosting its oil refining capacity, local media report, citing the company’s chairman Sanjiv Singh.

Singh said plans are to expand the company’s refining capacity to 150 million tons of oil derivatives annually from the current 80.7 million tons by 2030.

"As the leading refiner in the country and a dominant player across a diverse portfolio of offerings in energy, IOC is focussing on all emerging opportunities for organic and inorganic growth through vertical integration and strategic diversification, besides pursuing value-creating research areas," the executive said.

Some of the projects that make up the investment strategy are already underway, but the majority have yet to be launched. These will include the upgrade of existing IOC refineries as well as the construction of new processing facilities. The largest among them will be the Ratnagiri refinery and petrochemical complex, on which IOC has partnered with Saudi Aramco and Emirati Adnoc.

The Ratnagiri refinery will have an annual capacity of 60 million tons of crude oil and will cost US$44 billion. Half of this will be provided by Aramco and Adnoc as the two seek to secure future markets for their crude oil.

The expansion strategy will also involve growing IOC’s pipeline network, which at the end of the period will stand at 20,000 km, Singh also said.

India is the world’s leader in crude oil demand growth, importing most of the oil it consumes. The country’s demand for fuels in June rose 8.6 percent, with consumption hitting 17.99 million tons, according to statistical data for that month released in July. The upward trend is expected to continue.

Still, IOC is not relying exclusively on oil: the refiner has begun branching out in natural gas, renewable energy, and EVs. Last month, Singh warned that if oil prices rise above US$80 a barrel soon, this will slow down Indian fuel demand growth, as robust demand growth forecasts for the period until 2040 are based on prices of US$83 for Brent in 2025 and US$113 in 2040.
India’s Largest Refiner Plans $25B Output Boost | OilPrice.com
 
IKEA new showroom in Hyderabad


IKEA kicks off its India journey from Hyderabad; check what the store has to offer

ET Online | Updated: 09 Aug 2018, 04:43PM IST
Swedish home furnishings major IKEA today opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country's single-brand retail sector. The first store in Hyderabad has a floor area of 40,000 sq feet with 1000 products on offer. The company, which has employed 950 people directly and another 1,500 indirectly at its store here, plans to hire 15,000 in the coming years as it expands operations in India. As IKEA kicks off its India journey, check the new Hyderabad store here.


 
TARGET said:
IKEA new showroom in Hyderabad


IKEA kicks off its India journey from Hyderabad; check what the store has to offer

ET Online | Updated: 09 Aug 2018, 04:43PM IST
Swedish home furnishings major IKEA today opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country's single-brand retail sector. The first store in Hyderabad has a floor area of 40,000 sq feet with 1000 products on offer. The company, which has employed 950 people directly and another 1,500 indirectly at its store here, plans to hire 15,000 in the coming years as it expands operations in India. As IKEA kicks off its India journey, check the new Hyderabad store here.


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There are 2 more coming up in Mumbai & Bangalore followed by Delhi . They've plans to establish anywhere between 8-10 such megastores in India by 2022-23.
 
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