Indian Economy

[haldilal]

1 .

CtrlS Datacenters Plans Rs 28,000 Crore Capex by 2029

CtrlS Datacenters, Asia's largest Rated-4 data centre company, plans to invest Rs 24,000-28,000 crore by 2029 to expand capacity by 600-700 MW of IT load across 15 data centres in eight cities, including Kolkata, Mumbai and Hyderabad.

money.rediff.com

2 .

Tata Motors to demerge passenger, CV businesses by 2025

Tata Motors to demerge passenger and commercial vehicle businesses, invest in advanced tech, aim for net debt-free JLR by 2025.

www.thehindubusinessline.com

3 .

Maharashtra Looks To Expand Its Startup Portfolio To 50,000 Soon: Industries Minister

Maharashtra’s industries minister Uday Samant has said that the state is looking to expand its startups portfolio to 50,000 soon.

inc42.com

4 .

Cooper Corporation and Sinfonia Technology partner to introduce CPCB4+ certified LPG Gensets to India | Autocar Professional

Cooper Corporation and Sinfonia Technology partner to introduce CPCB4+ certified LPG Gensets to India

www.autocarpro.in

5 .

Genome sequencing lab with next-generation facilities inaugurated at AFMC-Pune - ET HealthWorld

Genome Sequencing Lab: "The NGS technology has extensive applications across various healthcare domains, including inherited diseases, oncology, transplant medicine, and reproductive medicine. This advanced technology significantly enhances the capabilities of the AFMS by enabling precise...

health.economictimes.indiatimes.com

6 .

Mahindra Scorpio N turns two, brand Scorpio hits a million sales | Autocar Professional

Ramped-up production has seen 28,347 Scorpios roll out of Mahindra factories in April-May 2024, an increase of 63% YoY.

www.autocarpro.in

7 .

Mazagon Dock shares rally over 6% after bagging Navratna status

Mazagon Dock Shipbuilders, now a Navratna company, is set for exponential growth with significant investment opportunities and strategic partnerships in the defense sector. The stock continues to outperform, reflecting strong investor confidence in its future.

m.economictimes.com

8 .

Mahindra commences production of Thar 5-door | Autocar Professional

Mahindra

www.autocarpro.in

9 .

Bain Capital-backed Emcure Pharma to float Rs 1,952-crore IPO on July 3

Emcure Pharmaceuticals IPO: The initial share sale will be available for public subscription during July 3-5 and the bidding for anchor investors will open for a day on July 2, the company announced.

www.zeebiz.com

10 .

Yotta Becomes First Indian Data Centre Startup To Go Public On Nasdaq - Forbes India

www-forbesindia-com.cdn.ampproject.org

11 .

Wockhardt aims to launch antibiotic with USD 25 bn mkt potential by early FY26 - ET HealthWorld | Pharma

Antibiotic: The company has invested over USD 500 million on its research efforts till now, which have yielded six successes, including Zaynich which are at different levels of development and marketing, said, founder chairman Habil Khorakiwala.

health-economictimes-indiatimes-com.cdn.ampproject.org

12 .

European jewellers using services of mega CFC for quality testing

The Mumbai-based mega common facility centre (CFC) in the special economic zone (SEZ) is now being used by European jewellers for quality testing. The facility, which was inaugurated by Prime Minister Narendra Modi in January, offers technical services like 3D printing, hallmarking, mass...

m.economictimes.com

 

[crazywithmath]

It was some 4.2k 2 years back not 4.5k can't say its static.

It was 4.2k back in 2012-13, iirc. Did a y-o-y chart once at the old DFI.

 

[FalconSlayers]

It was 4.2k back in 2012-13, iirc. Did a y-o-y chart once at the old DFI.

 

[karn]

Record upturn in job creation drives India's manufacturing PMI to 58.3 in June

Activity in India's manufacturing sector rebounded last month with an increase in output driven by robust demand, leading to the fastest rate of hiring in over 19 years despite ongoing inflationary pressures, according to a survey.

economictimes.indiatimes.com

Bigger workloads generated more jobs. Hiring increased for a fourth consecutive month and at the sharpest rate since the survey began over 19 years ago.

This was despite business sentiment falling to a three-month low, however, it remained strong and above the long-run average.

 

[ezsasa]

Tech Mahindra is calling this "Project Indus".
any info on what this AI model is based on?
=====
CP Gurnani Proves Altman Wrong, Tech Mahindra Builds Indian LLM Under $5M

Read more at: https://analyticsindiamag.com/cp-gu...ong-tech-mahindra-builds-indian-llm-under-5m/

 

[abdus salem killed]

India poverty: Poverty in India declines to 8.5% from 21.2% in 2011-12: NCAER paper - The Economic Times

Poverty in India declined from 21.2% in 2011-12 to 8.5% in 2022-24, despite pandemic challenges, according to NCAER's report "Rethinking Social Safety Nets in a Changing Society." Using data from the India Human Development Survey, the study highlights the need for adaptable social protection...

m.economictimes.com

How true is this?

 

[Azaad]

 

[karn]

Tech Mahindra is calling this "Project Indus".
any info on what this AI model is based on?
=====
CP Gurnani Proves Altman Wrong, Tech Mahindra Builds Indian LLM Under $5M

Read more at: https://analyticsindiamag.com/cp-gu...ong-tech-mahindra-builds-indian-llm-under-5m/

All the current LLM providers have theirs APIs out . The hottest "IT" task right now is to build pipelines to make their services available to companies/orgs that are providing services for end users (easy to integrate solutions). I work in this space . Once they release their API we can judge.

 

[FalconSlayers]

India poverty: Poverty in India declines to 8.5% from 21.2% in 2011-12: NCAER paper - The Economic Times

Poverty in India declined from 21.2% in 2011-12 to 8.5% in 2022-24, despite pandemic challenges, according to NCAER's report "Rethinking Social Safety Nets in a Changing Society." Using data from the India Human Development Survey, the study highlights the need for adaptable social protection...

m.economictimes.com

How true is this?

Depends on the definition of poverty line

 

[Hari Sud]

Where do all these factories get Lithium?. It is not easily available. If available from China then political strings are attached.

 

[Hari Sud]

Depends on the definition of poverty line

Depends on the definition of poverty line

The definition of poverty line today in India is same as it was in 2010. It has nothing to do with poverty line in Europe or America. They are wealthy countries with cold climate. Their poverty line is much different.

 

[DingDong]

The definition of poverty line today in India is same as it was in 2010. It has nothing to do with poverty line in Europe or America. They are wealthy countries with cold climate. Their poverty line is much different.

This is a difficult subject.

Several developed countries like US, Singapore did not shut down even at the peak of the COVID pandemic. The reason behind it was mostly related to the economy and the livelihood. Had those countries imposed a complete lock-down like India, people would have starved, forget about the rent or mortgage. In fact, the US experienced widespread riots due to the financial distress.

Despite earning several times more than an average India a vast majority of the westerners live paycheck-to-paycheck with very little saving.

 

[nongaddarliberal]

View attachment 1019

The world bank, like most international institutions, is severely underestimating how much the dollar has devalued over the years versus goods and services. 4036 USD from 2012 will equal at least 5500 USD today. This is true for both high income and middle to low income countries. Prices everywhere are 30-40% higher today than back in 2012 in dollar terms for essential items such as food, rent, utilities, medical care and education. In many developing countries the rise has been steeper.

Secondly we should form our own judgement on what constitutes middle income, upper middle income, high income etc if we observe different countries and their per capita incomes. By the world bank definition, countries like Vietnam (4600) and Indonesia (5200) are upper middle income, which I have to disagree with.

Upper middle income status implies that while you're not rich like Norway or France, you can still provide a decent standard of living to most of your people such as housing with all essential amenities, good schools, good hospitals, decent paying jobs etc. So think of Russia, Chile, Malaysia which are all in the 12-18,000 range.

Countries in the 4000-8000 range mostly still have severe problems regarding basic services and amenities. Especially the two example of Vietnam and Indonesia that I brought up which have slums and lack of rural infrastructure similar to us.

A more accurate categorization at today's prices would be

0-2000: Low Income
2000-10,000: Lower middle income
10,000-20,000: Upper middle income
20,000+: High Income

 

[ezsasa]

The world bank, like most international institutions, is severely underestimating how much the dollar has devalued over the years versus goods and services. 4036 USD from 2012 will equal at least 5500 USD today. This is true for both high income and middle to low income countries. Prices everywhere are 30-40% higher today than back in 2012 in dollar terms for essential items such as food, rent, utilities, medical care and education. In many developing countries the rise has been steeper.

Secondly we should form our own judgement on what constitutes middle income, upper middle income, high income etc if we observe different countries and their per capita incomes. By the world bank definition, countries like Vietnam (4600) and Indonesia (5200) are upper middle income, which I have to disagree with.

Upper middle income status implies that while you're not rich like Norway or France, you can still provide a decent standard of living to most of your people such as housing with all essential amenities, good schools, good hospitals, decent paying jobs etc. So think of Russia, Chile, Malaysia which are all in the 12-18,000 range.

Countries in the 4000-8000 range mostly still have severe problems regarding basic services and amenities. Especially the two example of Vietnam and Indonesia that I brought up which have slums and lack of rural infrastructure similar to us.

A more accurate categorization at today's prices would be

0-2000: Low Income
2000-10,000: Lower middle income
10,000-20,000: Upper middle income
20,000+: High Income

on top of this, there is the question of subsidies. GDP is GVA + tax - subsidies. for India subsidies matter a lot, since a lot of people utilise them.
a few items almost all of us enjoyed more than one of these subsidised items or services :
- basic foods,
- rail travel,
- air travel ,
- govt bus travel,
- govt medical facilities ,
- govt education,
- govt insurance schemes

etc. etc.

for all these items, there are subsidies which most public does not pay full price, and in market economics it is difficult to calculate what would the full price be if there were no subsidies. for example, if there was no subsidy on urea, electricity and farm equipment for rice farmers, it is difficult to calculate what would the impact on GDP be at rice retailer point of sale as compared to actuals.

globally these multilateral financial agencies like imf and WB might be be keeping a record of how much a govt spends on subsidies, but even they will not be able to calculate country specific GDP impact. different countries will be giving different types subsidies, some less more more.

so coming back to @FalconSlayers GDP per capita range, right now we are at 2.1 lakh ₹ (current prices).
if the country continues with the path of low inflation high growth rate, as more people come out of subsidy net, full value of their contribution thru consumption starts getting captured, it won't be a linear straight line.

and there is the question of trade agreements i.e exports which has an major impact on gdp per capita, which is a different topic.

Provisional Estimates of Annual GDP for 2023-24 And Quarterly Estimates of GDP for Q4 of 2023-24

The National Statistical Office (NSO), Ministry of Statisti

pib.gov.in

 

[chalochum]

Tech Mahindra is calling this "Project Indus".
any info on what this AI model is based on?
=====
CP Gurnani Proves Altman Wrong, Tech Mahindra Builds Indian LLM Under $5M

Read more at: https://analyticsindiamag.com/cp-gu...ong-tech-mahindra-builds-indian-llm-under-5m/

My worry is CP gurnani took the bait to prove everyone wrong....but is this model uniquely positioned for specific application, use case or scenario? Else it'll be another Koo app like death.

 

[ezsasa]

My worry is CP gurnani took the bait to prove everyone wrong....but is this model uniquely positioned for specific application, use case or scenario? Else it'll be another Koo app like death.

koo is a different kind of case, it was born from a startup hackathon. tech mahindra on the other hand is an existing company, with other revenue sources.

tried it yesterday, it takes questions only in hindi, i asked what is meta ai in hindi, response was in hindi and that it was a hathyar (weapon system) along with explanation it's ai functionalities. this project is in early stages, so it's fine i suppose.

as far as use case go, tech mahindra will have enough internal products to plug this in as a chat bot, if and when this product reaches commercialisation stage.

 

[Wolfie]

My worry is CP gurnani took the bait to prove everyone wrong....but is this model uniquely positioned for specific application, use case or scenario? Else it'll be another Koo app like death.

AI is more than just llm, various direction need to be followed instead of following just chatgpt

 

[fire starter]

 

[Physx32]

Indias rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P​

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

India could receive a sovereign rating upgrade in the next 24 months if the central government manages its finances prudently and reduces the fiscal deficit to 4% of GDP. The trigger for the upgrade would be a general government deficit falling below 7% of the GDP, with a significant portion...

m.economictimes.com

 

[haldilal]

The 700 acres Auto Comp Cluster coming soon.