[🇮🇳] Indian Economy watch- All new developments.

[Krishna with Flute]

India need to speed up Solar energy production and Production of aircrafts domestically.

 

[Krishna with Flute]

Vardhaan Lithium To Establish India’s First Lithium Refinery In Nagpur​

Story by JE News Desk
• 19h • 2 min read

Vardhaan Lithium To Establish India’s First Lithium Refinery In Nagpur
India is set to achieve a significant milestone in its energy and industrial sectors with the establishment of its first lithium refinery and battery manufacturing facility in Additional Butibori, Nagpur, Maharashtra. Backed by an investment of Rs 42,532 crore, this project by Vardhaan Lithium (I) Pvt. Ltd. aims to reduce the nation’s dependence on lithium imports and solidify its position in the global clean energy market.

The 500-acre facility, led by Chairman Sunil Joshi and Managing Director Vedansh Joshi, will have the capacity to refine 60,000 tonnes of lithium annually and produce 20 GWh of batteries. It will cater to India’s growing demand for lithium-based products, supporting sectors such as electric vehicles, renewable energy, and industrial manufacturing.

Advancing ‘Make in India’ Vision

Aligned with the ‘Make in India’ initiative, this state-of-the-art factory underscores India’s commitment to achieving self-reliance in critical resources. By leveraging advanced technologies from the USA and Europe, Vardhaan Lithium aims to meet global quality standards while enhancing India’s clean energy capabilities.

Leadership and Collaboration

The project has received strong support from Maharashtra Chief Minister Devendra Fadnavis, whose proactive leadership facilitated the agreement signing at the WEF 2025 in Davos. This initiative positions Maharashtra as a hub for industrial innovation and energy transformation.

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Transforming India’s Energy Landscape

The refinery’s establishment comes at a time of surging global demand for lithium-ion batteries, driven by electric vehicles and renewable energy solutions. It is expected to create thousands of jobs, boost the local economy, and attract ancillary industries, fostering a sustainable clean energy ecosystem in Maharashtra. The Vardhaan Lithium project is poised to redefine India’s energy future, strengthening its journey toward self-reliance and global leadership in clean energy innovation.

 

[Saif]

India budget opts for economic sugar rush over reform

India’s annual budget announcement was a bigger deal than usual this year: As the first full budget of Prime Minister Narendra Modi’s third term, it will set the tone for how the world’s fifth-largest economy confronts slowing growth and sagging markets.

www.thedailystar.net

India budget opts for economic sugar rush over reform

Visitors look at the chrysanthemum flowers during the All India Horticulture, Agriculture, and Nursery Expo in Hyderabad on January 31. The government has forecast India’s GDP growth will slip to a four-year low of 6.4 percent in the current financial year to March 31. photo: AFP

India's annual budget announcement was a bigger deal than usual this year: As the first full budget of Prime Minister Narendra Modi's third term, it will set the tone for how the world's fifth-largest economy confronts slowing growth and sagging markets.

But the year's top economic policy event opted mainly for short-term economic relief through middle-class tax cuts, while passing up a chance to go big on reforms needed to reignite rapid growth - once the envy of the world at more than 8 percent.

The budget also scaled back the government's emphasis on capital spending and infrastructure, another key driver for India's growth ambitions since the pandemic.

Without a strategy to regain high growth rates and assure jobs for India's young population, the budget disappointed analysts and markets, alarmed in recent months by weak earnings growth and an exodus of foreign investors.

"India is aspiring for 8 percent growth but we don't have a path to 8 percent - a growth strategy is not there," said Madhavi Arora, chief economist at Emkay Global Financial Services.

The government has forecast India's GDP growth will slip to a four-year low of 6.4 percent in the current financial year to March 31 and stay close to that level next year as well, compared with 8.2 percent in 2023-24.

While the latest tax cuts may help urban consumers, who took some steam out of the economy as weak wage growth and high living costs curtailed their spending habits, economists see deeper problems that need to be addressed.

"Eight percent will require far deeper interventions in agricultural markets, human capital and ease of doing business," said Dhiraj Nim, an economist at ANZ Research.

Modi, who returned to power in July of last year with a weaker-than-expected mandate, has turned to appeasing politically important constituencies in the months since the election, analysts said. His party has reversed agricultural trade policies to favour farmers, offered cash handouts to women and, now, cut taxes for the middle class.

Analysts noted that this is not the first time, however, that Modi and his Bharatiya Janata Party failed to push economic reforms, which also got brushed aside in his previous two terms when the party had won more decisively and had greater political capital.

"In 2019, the BJP got more than 300 seats and had a window (for reforms)," said Amit Ranjan, research fellow at Institute of South Asian Studies (ISAS), National University of Singapore. "But the government gave in to the needs of electoral politics as the government knows reforms do not immediately benefit the large section of voters."

In 2015, Modi let lapse an executive order making it easier for businesses to buy land, after failing to win support from opposition parties in the parliament. And in 2020, both houses of parliament approved new labour codes, but they have yet to be implemented across all states.

Plans for large-scale privatisations of state-owned enterprises, aiming to reinvigorate them by reducing government involvement, have also faltered, with the government now opting to put fresh funds into ailing state firms.

The case for reforms, however, has not come just from analysts and economists, but from government leaders as well.

On Friday, India's chief economic adviser, V. Anantha Nageswaran, made a pitch for rapidly easing rules covering land, labour and factories, among other areas, arguing that government should "get out of the way" as one way to push up growth.

"Business as usual carries a high risk of economic growth stagnation, if not economic stagnation," Nageswaran said in a report presented a day ahead of the budget.

The tax cuts' 1 trillion rupee ($11.56 billion) price tag also reduced the government's leeway to further ramp up spending on infrastructure.

The budget includes 11.2 trillion rupees for capital expenditure in 2025-26, close to the level of spending planned for the current year, although actual outlays fell short of that due to delays linked to national and state elections.

"We think that capital expenditure and infrastructure development will provide a longer-term, longer-lasting boost to growth than things like tax measures," said Christian de Guzman, senior vice president and lead sovereign analyst for India at Moody's Ratings.

Since the COVID-19 pandemic, the government has raised capital expenditure sharply in the hope of fashioning an investment-led recovery but the strategy is yet to pay off, with job creation and wage growth remaining weak.

The slower increase in capital spending knocked the share prices of capital goods firms lower on Saturday, while the broader market ended marginally weaker.

"At the margin, there is a tilt towards supporting consumption through tax cuts for middle class households, relative to the public capex push seen over the last four years," said Sonal Varma, Nomura chief economist, India and Asia ex-Japan.

"This shift takes into account the difficulty in executing public capex projects due to budget and institutional capacity constraints," she said.​

 

[Krishna with Flute]

India budget opts for economic sugar rush over reform

India’s annual budget announcement was a bigger deal than usual this year: As the first full budget of Prime Minister Narendra Modi’s third term, it will set the tone for how the world’s fifth-largest economy confronts slowing growth and sagging markets.

www.thedailystar.net

India budget opts for economic sugar rush over reform

View attachment 13974
Visitors look at the chrysanthemum flowers during the All India Horticulture, Agriculture, and Nursery Expo in Hyderabad on January 31. The government has forecast India’s GDP growth will slip to a four-year low of 6.4 percent in the current financial year to March 31. photo: AFP

India's annual budget announcement was a bigger deal than usual this year: As the first full budget of Prime Minister Narendra Modi's third term, it will set the tone for how the world's fifth-largest economy confronts slowing growth and sagging markets.

But the year's top economic policy event opted mainly for short-term economic relief through middle-class tax cuts, while passing up a chance to go big on reforms needed to reignite rapid growth - once the envy of the world at more than 8 percent.

The budget also scaled back the government's emphasis on capital spending and infrastructure, another key driver for India's growth ambitions since the pandemic.

Without a strategy to regain high growth rates and assure jobs for India's young population, the budget disappointed analysts and markets, alarmed in recent months by weak earnings growth and an exodus of foreign investors.

"India is aspiring for 8 percent growth but we don't have a path to 8 percent - a growth strategy is not there," said Madhavi Arora, chief economist at Emkay Global Financial Services.

The government has forecast India's GDP growth will slip to a four-year low of 6.4 percent in the current financial year to March 31 and stay close to that level next year as well, compared with 8.2 percent in 2023-24.

While the latest tax cuts may help urban consumers, who took some steam out of the economy as weak wage growth and high living costs curtailed their spending habits, economists see deeper problems that need to be addressed.

"Eight percent will require far deeper interventions in agricultural markets, human capital and ease of doing business," said Dhiraj Nim, an economist at ANZ Research.

Modi, who returned to power in July of last year with a weaker-than-expected mandate, has turned to appeasing politically important constituencies in the months since the election, analysts said. His party has reversed agricultural trade policies to favour farmers, offered cash handouts to women and, now, cut taxes for the middle class.

Analysts noted that this is not the first time, however, that Modi and his Bharatiya Janata Party failed to push economic reforms, which also got brushed aside in his previous two terms when the party had won more decisively and had greater political capital.

"In 2019, the BJP got more than 300 seats and had a window (for reforms)," said Amit Ranjan, research fellow at Institute of South Asian Studies (ISAS), National University of Singapore. "But the government gave in to the needs of electoral politics as the government knows reforms do not immediately benefit the large section of voters."

In 2015, Modi let lapse an executive order making it easier for businesses to buy land, after failing to win support from opposition parties in the parliament. And in 2020, both houses of parliament approved new labour codes, but they have yet to be implemented across all states.

Plans for large-scale privatisations of state-owned enterprises, aiming to reinvigorate them by reducing government involvement, have also faltered, with the government now opting to put fresh funds into ailing state firms.

The case for reforms, however, has not come just from analysts and economists, but from government leaders as well.

On Friday, India's chief economic adviser, V. Anantha Nageswaran, made a pitch for rapidly easing rules covering land, labour and factories, among other areas, arguing that government should "get out of the way" as one way to push up growth.

"Business as usual carries a high risk of economic growth stagnation, if not economic stagnation," Nageswaran said in a report presented a day ahead of the budget.

The tax cuts' 1 trillion rupee ($11.56 billion) price tag also reduced the government's leeway to further ramp up spending on infrastructure.

The budget includes 11.2 trillion rupees for capital expenditure in 2025-26, close to the level of spending planned for the current year, although actual outlays fell short of that due to delays linked to national and state elections.

"We think that capital expenditure and infrastructure development will provide a longer-term, longer-lasting boost to growth than things like tax measures," said Christian de Guzman, senior vice president and lead sovereign analyst for India at Moody's Ratings.

Since the COVID-19 pandemic, the government has raised capital expenditure sharply in the hope of fashioning an investment-led recovery but the strategy is yet to pay off, with job creation and wage growth remaining weak.

The slower increase in capital spending knocked the share prices of capital goods firms lower on Saturday, while the broader market ended marginally weaker.

"At the margin, there is a tilt towards supporting consumption through tax cuts for middle class households, relative to the public capex push seen over the last four years," said Sonal Varma, Nomura chief economist, India and Asia ex-Japan.

"This shift takes into account the difficulty in executing public capex projects due to budget and institutional capacity constraints," she said.​

Reforms are almost over. Now it was the time to give some relief to middle class who happened to be most honest tax payers. For last many years, government's treasure is flooding with money and has got lot more income than budgeted. Even, toll tax generates huge amount of money. Government runs unparallel and unimaginable welfare schemes such as free ration, 40 million houses to poor, free gas connection over 90 million people, Mudra small finance loan to over 100 million people, free medical to 550 million people upto Rs. 10 lakh. 37 KM highways built every day, Railway is being built at a rapid pace. Air traffic is increase faster than anywhere in the world, record numbers of Planes are being purchased, record numbers of airports are being made. Insite of all of this, Government has excess money to spend. This time, benefit is passed on to middle class. The benefit extended surpassed all expectations putting a very good amount of excess money in the vallate of Middle class to spend and push economy further.

 

[Lulldapull]

Just saw the newj that UP state economy alone will surpass a trillion dollars or has surpassed it already.

The real estate valuation of Bombay alone is multiple times Pakistan's entire GDP worth.

It's fair to say our leadership and establishment in Pakistan have let us down.

 

[Krishna with Flute]

Just saw the newj that UP state economy alone will surpass a trillion dollars or has surpassed it already.

The real estate valuation of Bombay alone is multiple times Pakistan's entire GDP worth.

It's fair to say our leadership and establishment in Pakistan have let us down.

A new phase of India's economic development has begun. Whatever investment comes are in multiple billions not in millions. Tata alone has ordered about 530 passenger planes so as Indigo. Ambani is building a city and going to invest around 5 lakh crore. Adani has big plans. Airbus is coming to India with all the products in its portfolio. A rapid infrastructure is taking place. Mittal is investigating 10000 crore in Gujarat. Everything big happening in India. Next 3 decades are going to be of massive economic activities.

 

[Bilal9]

Just saw the newj that UP state economy alone will surpass a trillion dollars or has surpassed it already.

The real estate valuation of Bombay alone is multiple times Pakistan's entire GDP worth.

It's fair to say our leadership and establishment in Pakistan have let us down.

This is all "aspirational statistics" put forward by their CM Aditynath and it is typical of BJP led states. Don't judge Pakistan's situation by what goes on in India.

What Mr. Aditynath fails to mention is that almost a quarter of UP population lives below poverty level (which is Indian standard of poverty).

So - that has to be tackled first. All is not champagne and roses.

https://niti.gov.in/sites/default/files/2023-07/National-Multidimentional-Poverty-Index-2023-Final-17th-July.pdf

 

[Bilal9]

A new phase of India's economic development has begun. Whatever investment comes are in multiple billions not in millions. Tata alone has ordered about 530 passenger planes so as Indigo. Ambani is building a city and going to invest around 5 lakh crore. Adani has big plans. Airbus is coming to India with all the products in its portfolio. A rapid infrastructure is taking place. Mittal is investigating 10000 crore in Gujarat. Everything big happening in India. Next 3 decades are going to be of massive economic activities.

Don't want to rain on your parade but didn't the Tata-SIA JV airline (Vistara) fold up recently? They had 70 aircraft in their fleet.

Seems every industrialist in India (including that scumbag Adani) has 'big plans' which is typical. Those "big plans" are mostly "vote-getter plans" which often don't materialize.

With the size and corruption in India - all that "big" industrialists in India tend to do is commit massive acts of fraud and run away. Witness Sahara, Vijay Mallya et al.

Gareebon ka huq lootnewalla scum.