Where did you read it btw. I thought it was software exports that increased the most.
Anyways petroleum products won't last for long ig if that's the case.
Indian Economics Thread II
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Anyways petroleum products won't last for long ig if that's the case.
Sorry, saw the overall export increase of $250B and the service export increase is only a fraction of that
here’s the May data
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| MAY'21 | MAY'22 | MAY'22 | ||
| Commodity groups exhibiting positive growth | ||||
| 1 | Petroleum Products | 5313.28 | 8547.64 | 60.87 |
Table 5: Export Growth in Commodity Groups in September 2022
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| SEP'21 | SEP'22 | SEP'22 | ||
| Commodity groups exhibiting positive growth | ||||
| 1 | Electronic Goods | 1168.11 | 2009.07 | 71.99 |
| 2 | Tobacco | 77.23 | 125.24 | 62.16 |
| 3 | Petroleum Products | 5195.49 | 7429.84 | 43.01 |
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They sure CAN trade in rupee but will they?.. Malaysia has a trade surplus with India, I just don't see why would you want to hold rupee reserves when it has been depreciating against other currencies since India was formed. Investing and buying assets there is also very risky, plus I doubt many foreigners would like to buy some apartment in India, lol.
Indian propaganda at its best. They learned from the West.
proelite
Junior Member
Vedanta and Tata are the multi conglomerates that traditional antitrust in the west would have busted up a long time ago. They're on all kinds of markets that aren't even adjacent in one another. Think Amazon on steroids.
They're are outsized corporations and probably have lot of political power in which can use for market distortions and raising barriers of entry. They dominate the economy and yet doesn't generate wealth for the country.
They're are outsized corporations and probably have lot of political power in which can use for market distortions and raising barriers of entry. They dominate the economy and yet doesn't generate wealth for the country.
Doesn't tata motors own jaguar and land rover? High end brands. I wonder if tata ever took the technology from those companies and put it in their domestic car industry? If so, why aren't they able to export high quality cheap cars given their large worker base?
More on Vedanta.
Indian govt is insisting on proven experience in the fab industry to get the subsidies. Why is that a "problem"? Because neither Foxconn nor Vedanta have it.
They tried to rope in STM as a technology partner but all they've gotten is a non-binding MoU. It doesn't help that the chip industry is slashing orders globally and investment is down. India has bad timing.
Moreover, getting their own fabs is questionable. It would be smarter to begin with lower-add work such as packaging. But Indian elites have grandiose views about their own country and such work is viewed as "beneath" them.
Indian govt is insisting on proven experience in the fab industry to get the subsidies. Why is that a "problem"? Because neither Foxconn nor Vedanta have it.
They tried to rope in STM as a technology partner but all they've gotten is a non-binding MoU. It doesn't help that the chip industry is slashing orders globally and investment is down. India has bad timing.
Moreover, getting their own fabs is questionable. It would be smarter to begin with lower-add work such as packaging. But Indian elites have grandiose views about their own country and such work is viewed as "beneath" them.
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