Indian Economy (10 Viewers)

[Sayman Ame]

Amy details about how much oil are we taking about?


View: https://x.com/Rohitash_B/status/1933661052874666072?t=mULwTDMvwRctxCgHY0IFmg&s=19

* Angry GodCurry noises *

introduces BS-7 as counter measure ; cars to run on actual BS or batteries powered by oxes going in circles and generating electricity.

 

[Migflug]

India on Brink of 'Guyana-Sized' Oil Discovery in Andaman Sea: India petroleum minister Hardeep Puri THE NEW INDIAN

NEW DELHI: In an exclusive Interview with The New Indian, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri laid out a bold vision…

www.newindian.in

View: https://x.com/Neelbhau69/status/1933696707306443173?t=ekPDmq2l0hFDJC3clJhK1w&s=19


View: https://x.com/rohanduaT02/status/1932792365661753815?t=xxjR0efbMy0CL0cuuejZ6A&s=19

 

[Suryavanshi]

I pray to God we discover decent 20 to 30 billion barrel reserves. If we can source 25 to 35% locally than we can manage the rest by sourcing from friendly countries.
Oil is our jugular and this discovery could make us more emboldened.

 

[shade2]

I pray to God we discover decent 20 to 30 billion barrel reserves. If we can source 25 to 35% locally than we can manage the rest by sourcing from friendly countries.
Oil is our jugular and this discovery could make us more emboldened.

Oil & Coal dependency is a hard cap to us becoming an actual great power or superpower.
US & Russia have domestic reserves for these, US navy is strongest and can even get from abroad even during war time.
China can buy from russia overland and via pipeline

Ours is seaborne onlee

 

[Suryavanshi]

Oil & Coal dependency is a hard cap to us becoming an actual great power or superpower.
US & Russia have domestic reserves for these, US navy is strongest and can even get from abroad even during war time.
China can buy from russia overland and via pipeline

Ours is seaborne onlee

More motivation to have a absolutely formidable navy.

 

[Suryavanshi]

Oil & Coal dependency is a hard cap to us becoming an actual great power or superpower.
US & Russia have domestic reserves for these, US navy is strongest and can even get from abroad even during war time.
China can buy from russia overland and via pipeline

Ours is seaborne onlee

More motivation to have a absolutely formidable navy.

 

[liberalredditor]

I pray to God we discover decent 20 to 30 billion barrel reserves. If we can source 25 to 35% locally than we can manage the rest by sourcing from friendly countries.
Oil is our jugular and this discovery could make us more emboldened.

i read in some news that ongc and oil india have found some oil reserves in ganga basin in bihar and some in purvanchal. idk these type of news make buzz for a few weeks then die.

 

[Ajayant Tripathi]

Again, it is not appreciation if USDINR simply goes back to the 83-84 level. That 'depreciation' was not just a regular currency movement to begin with and happened cuz the orange chimpanzee kept throwing tantrums.

My point is simple. They spread so much hubris over xyz trillion economy, taking the INR global and what not and yet, will not trust the market forces. If this is not doublespeak then I do not know what else is.

Both these things are disjoint. Chinese are way way bigger and still have capital controls.
We are net importer and still have loosened our capital controls. So, Its not a double speak in reality.

RBI infact is doing exactly what it is supposed to do.


As far as markets are concerned. I will like to bring to your attention that markets are not always efficient and capable of self correction. It was one of the major insight during GFC 2008. Central Banks thus have to play a more active role in ensuring financial stability. Thats why Bernanke Fed resorted to lend to markets not just banks. Post GFC 2008, Central Banks are more active and more expansive. So, RBI interventions are on par and expected line.

 

[shade2]

More motivation to have a absolutely formidable navy.

Admirals are fully capable and motivated to do this but dhotis and baboons will never give them the budget necessary.

USN, Royal Navy, IJN all weren't for show or flexing, all were to secure resources and SLOC
Chong also isn't building up his 6 aircraft carriers only for Taiwan, they will go much further after than.

 

[shade2]

India on Brink of 'Guyana-Sized' Oil Discovery in Andaman Sea: India petroleum minister Hardeep Puri THE NEW INDIAN

NEW DELHI: In an exclusive Interview with The New Indian, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri laid out a bold vision…

www.newindian.in

It needs to be read in a context:
1. Low Inflation
1. Low Oil prices (So, little risk of imported inflation)
1. RBI Injection of Liquidity in last month.
1. RBI cutting rates
1. Increasing Forex Reserves (INR gets cushion and becomes more stable)

The Macro environment is so far good. I hope it translates into an increase in Capex.

Unless we are forced into a war i expect these macroeconomic indicators to remain stable. The best thing our own domestic factors responsible for inflation volatility are loosing weight. As our economy grows our domestic markets will stabilize and become more resilient. So, domestic factors will continue to loose weight in influencing inflation. It will be volatility in oil prices that will be major contributor to inflation volatility in future. Since its a single choke point, Our govt. can blunt its impact too by carefully managing oil prices and INR puchasing power with forex reserves. So, i expect us to enter in a low interest era.

If true, wouldn't be surprised Indogesia lays claim to A&N in the future

 

[crazywithmath]

I pray to God we discover decent 20 to 30 billion barrel reserves. If we can source 25 to 35% locally than we can manage the rest by sourcing from friendly countries.
Oil is our jugular and this discovery could make us more emboldened.

Puri is an idiot. I would strongly urge memberans not to read too much into his words.

 

[Ajayant Tripathi]

If true, wouldn't be surprised Indogesia lays claim to A&N in the future

Its too late now.

 

[crazywithmath]

Both these things are disjoint. Chinese are way way bigger and still have capital controls.

Chongs operate in a fundamentally different fashion, literal control freaks if I say so. A comparison with us makes no sense.

We are net importer and still have loosened our capital controls. So, Its not a double speak in reality.

RBI infact is doing exactly what it is supposed to do.


As far as markets are concerned. I will like to bring to your attention that markets are not always efficient and capable of self correction. It was one of the major insight during GFC 2008. Central Banks thus have to play a more active role in ensuring financial stability. Thats why Bernanke Fed resorted to lend to markets not just banks. Post GFC 2008, Central Banks are more active and more expansive. So, RBI interventions are on par and expected line.

Sure, RBI can step in to reign in volatility (that is their official stance anyway). However, what they are doing instead is preventing a market correction. This is currency manipulation 101. Not how a confident economy is supposed to behave.

 

[Ajayant Tripathi]

Chongs operate in a fundamentally different fashion, literal control freaks if I say so. A comparison with us makes no sense.



Sure, RBI can step in to reign in volatility (that is their official stance anyway). However, what they are doing instead is preventing a market correction. This is currency manipulation 101. Not how a confident economy is supposed to behave.

Currency manipulation is like human rights violations. They are rhetorical tools. Every country engages in them. Should we expose ourselves more to excessive money printing by US and carry trade from Yen??

Why should RBI let INR appreciate because of orange man's tantrums?? What do we gain?? Also, are you really sure we are not at risk from capital flight?? We are net importers. We import a large quantity of oil. Any fluctuations in oil prices and we are screwed. We should be thankful of breaking consensus among petroleum producers. US shale gas production is highly flexible, Ex Soviet Countries are pumping out more oil and forcing Saudis to increase production and thus overall low oil prices.

So, If RBI uses this opportunity to amass some forex reserves to increase its buffer. Is not a wrong thing. What will we gain from 1-2 rs appreciation?? Nothing. But we do gain forex reserve preserving our purchasing power and keep our competitive advantage.

So, Even from a market perspective RBI interventions are appropriate. they are within bounds. Its not like they absorbed excessive amounts of dollars in a very short time? They are accruing dollars while keeping INR in a stable zone. Its not wrong?

 

[abdus salem killed]

Ours is seaborne onlee

The sea is close at least if pipes can be targested so can sea lines

 

[crazywithmath]

Currency manipulation is like human rights violations. They are rhetorical tools. Every country engages in them. Should we expose ourselves more to excessive money printing by US and carry trade from Yen??

Why should RBI let INR appreciate because of orange man's tantrums?? What do we gain?? Also, are you really sure we are not at risk from capital flight?? We are net importers. We import a large quantity of oil. Any fluctuations in oil prices and we are screwed. We should be thankful of breaking consensus among petroleum producers. US shale gas production is highly flexible, Ex Soviet Countries are pumping out more oil and forcing Saudis to increase production and thus overall low oil prices.

So, If RBI uses this opportunity to amass some forex reserves to increase its buffer. Is not a wrong thing. What will we gain from 1-2 rs appreciation?? Nothing. But we do gain forex reserve preserving our purchasing power and keep our competitive advantage.

So, Even from a market perspective RBI interventions are appropriate. they are within bounds. Its not like they absorbed excessive amounts of dollars in a very short time? They are accruing dollars while keeping INR in a stable zone. Its not wrong?

-> An idiot gets elected as the US Prez
-> Elected guy talks about tariffing the shit out of everybody else
-> Markets panic
-> US$ strengthens like crazy
-> Few months in, the idiot chickens out
-> Markets stop taking him seriously
-> US$ goes backs to previous levels
-> Pretty much every currency of note gets their value back
-> INR is the sole exception
-> Same economy has grand ambitions of taking INR global
-> Same economy preaches about free markets
-> Zero stability in exchange rate whatsoever

Make it make sense.

Also, on the forex reserves thingy,

Why exactly do you need a 700 billion buffer? I am expecting a specific answer here.

To me it seems like, they will let INR depreciate whenever the next bear run arrives. And once the market starts correcting, they will again start amassing reserves and keep the currency at a depreciated value. And this cycle will continue.

We are used to a kanjoos fiscal policy but this same chindigiri is visible on the monpol side too.

At this rate they will amass a trillion dollar+ reserve and keep doing the same rr over 'market volatility reee'.

 

[Ajayant Tripathi]

-> An idiot gets elected as the US Prez
-> Elected guy talks about tariffing the shit out of everybody else
-> Markets panic
-> US$ strengthens like crazy
-> Few months in, the idiot chickens out
-> Markets stop taking him seriously
-> US$ goes backs to previous levels
-> Pretty much every currency of note gets their value back
-> INR is the sole exception
-> Same economy has grand ambitions of taking INR global
-> Same economy preaches about free markets
-> Zero stability in exchange rate whatsoever

Make it make sense.

Also, on the forex reserves thingy,

Why exactly do you need a 700 billion buffer? I am expecting a specific answer here.

To me it seems like, they will let INR depreciate whenever the next bear run arrives. And once the market starts correcting, they will again start amassing reserves and keep the currency at a depreciated value. And this cycle will continue.

We are used to a kanjoos fiscal policy but this same chindigiri is visible on the monpol side too.

At this rate they will amass a trillion dollar+ reserve and keep doing the same rr over 'market volatility reee'.

> US elects a man child.
> He tarriffs hell out of others
> USD gains and other currencies devalues
> He chickens out
> USD devalues and other currencies gain
> INR retains its devaluation.
> INR is blamed for being unstable?????????



What specific answer are you looking for on Forex reserves?

 

[crazywithmath]

> US elects a man child.
> He tarriffs hell out of others
> USD gains and other currencies devalues
> He chickens out
> USD devalues and other currencies gain
> INR retains its devaluation.
> INR is blamed for being unstable?????????

If not tampered with for reasons unknown to me USDINR would have gone back to 83-84 levels. INR is unstable because the RBI guys are keeping it that way.

Why we need forex reserves??
Forex reserves are not amassed to pay external bills. They are to maintain financial stability.

Bruh, this is not a first year econ undergrad classroom - you do not have to spoonfeed me. I asked for a specific answer.

Let me rephrase it - what are the additional benefits that a 700 billion $ reserve brings but a 630-640 billion US$ reserve (levels last seen when INR was stable up until October-Novermber 2024) cannot?

Also, Markets?? What markets?? Markets are no longer regarded as efficient and capable of self correction. The world of finance has changed after GFC 2008.

RBI anyway intervenes to reign in market volatility - that is their stated policy. What market volatility is there right now? Pretty much every non US$ currency is in green, apart from the INR, that is.

 

[Ajayant Tripathi]

Current Size of forex reserves are just sufficient for normal time period. Its not high. Its not enough for what we need. We need around 1.2T USD atleast. Bcz a kinetic war is highly probable.

Now tell me how you propose RBI to reach that objective??