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

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Let India reach where China is, then we can discuss.

Going by your logic, When can we discuss BD economy?

 

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India to start exporting locomotives in 2025​

Story by Manu Kaushik
• 9h • 2 min read

Established in 2018, the plant has been delivering 100 locomotives annually to the Indian railways utilising the local supplier base from across India. (Representational Image/Reuters)
For the first-time, India is set to export locomotives to a global customer. Wabtec Locomotive, which is a joint venture between Indian Railways and Wabtec, will manufacture locomotives at its Marhowra plant in Bihar, and start exports to an African customer in 2025.

“The plant will supply Evolution Series ES43ACmi locomotives to global customers. The ES43ACmi is a locomotive featuring a 4,500 HP Evolution Series engine, offering best-in-class fuel efficiency and proven performance in high-temperature environments,” the official statement said.

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As per the railways ministry, the project is of strategic importance as it positions India as a global locomotive manufacturing hub and aligns with the “Make in India” and “Make for the World” initiatives under the “Atmanirbhar Bharat” vision. “It will also enable the Marhowra plant to export standard-gauge locomotives globally, expanding the local supplier footprint and fostering long-term job creation, thereby benefiting the Indian economy,” the statement said.

Also Read
Delhi Metro receives first ‘Make in India’ driverless metro train set- Details inside
Established in 2018, the plant has been delivering 100 locomotives annually to the Indian railways utilising the local supplier base from across India. It has thus far added 650 locomotives to the railways fleet. The railways ministry and Wabtec will collaborate to plant’s capabilities and use it to serve global demand for locomotives, the statement said.

In May this year, US-based Wabtec Corporation started a new manufacturing campus in Rohtak with an investment of Rs 150 crore. This plant will initially manufacture transit rail components and subsystems followed by other Wabtec product lines in the coming years.

Related video: Major boom to rail safety; Indian Railways successfully installed Kavach 4.0 in Sawai Madhopur (ANI Video)

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Delhi Metro receives first ‘Make in India’ driverless metro train set- Details inside​

These new metro train sets, equipped with Grade of Automation (GOA) 4 driverless technology, are designed to operate at a top speed of 95 kmph, with an operational speed of up to 85 kmph. They will serve three lines, including two extensions and the new Gold Line 10, covering a total of 64.67 kilometres.​

Written by FE Online
September 23, 2024 21:34 IST
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Delhi Metro receives first 'Make in India' driverless metro train set. (PTI)
The Delhi Metro Rail Corporation (DMRC) has received its first metro train set integrated with driverless technology, marking a major milestone under the ‘Make in India’ initiative. This is part of DMRC’s first project outsourced to an Original Equipment Manufacturer (OEM), as per an official statement released on Monday.

DMRC Managing Director Vikas Kumar highlighted the significance of the event, stating, “Today is a historic occasion for the Delhi Metro family as we take another major step towards operationalising the Phase 4 corridors.” The first train set, dispatched from Alstom’s facility in Sri City, Andhra Pradesh, is part of a broader plan aimed at enhancing eco-friendly and convenient travel for metro passengers.

https://www.financialexpress.com/business/infrastructure-delhi-metro-receives-first-make-in-india-driverless-metro-train-set-details-inside-3619644/

 

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Public Sectors are flourishing under the BJP Government.​

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SAIL achieves best sales turnover of over Rs 1 trillion during FY24​

Story by Statesman News Service
• 20h • 2 min read

SAIL achieves best sales turnover of over Rs 1 trillion during FY24
Steel Authority of India Limited (SAIL) conducted its 52nd Annual General Meeting (AGM) on Thursday at its headquarters in New Delhi. It was informed that the country’s largest steel producer achieved the best sales turnover of Rs 1,04,545 crore during FY ’24.

SAIL Chairman Amarendu Prakash addressed the shareholders in the meeting, held through a virtual platform.


He summarised the performance of the Maharatna during FY 23-24.

He said that SAIL created new benchmarks by producing 20.5 Million Tonnes (MT), 19.24 MT and 18.44 MT of Hot Metal, Crude Steel and Saleable Steel respectively during FY’24, registering growth of 5.6 per cent, 5.2 per cent and 6.9 per cent respectively over the previous year.

He mentioned that the Company achieved the best Sales Turnover of Rs 1,04,545 Crore during FY’24.

Addressing the Company’s shareholders, he said, “Reflecting on the performance of the previous year and looking forward to the future reinforces my belief that as an organisation, we can aspire to be ‘Number One’, i.e the best in our industry”.

He added that the Indian Government’s continuous push to transform the social, digital and physical infrastructure of the country with a vision of Viksit Bharat by 2047 has fueled steel demand in the Country across all sectors.

SAIL is on track to excel in two focus areas which are to maximise capacity utilisation and provide best value to customers, he added.

He said, “SAIL would continue to engage with stakeholders, improve the asset utilisation and proactively be ahead of the curve”.

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Is India growing fast enough to become a developed nation by 2047? Raghuram Rajan has this to say​

Story by Business Today Desk
• 23h • 2 min read
In this article

Is India growing fast enough to become a developed nation by 2047? Raghuram Rajan has this to say
India has made great progress in infrastructure over the last decade, but it’s not enough, according to former RBI Governor Raghuram Rajan.

Rajan says the country must do much more in sectors like local manufacturing and job creation to truly harness its potential.

"We’ve done a lot in infrastructure, but other areas need more attention," Rajan told a news agency in an interview on Thursday, adding that while the government's focus on production is commendable, it's equally important to get it right.



Reflecting on the Modi government’s flagship 'Make in India' initiative, Rajan acknowledged its positive intent but stressed the need for a critical review to ensure it delivers real results.

"In some areas, we’ve made useful progress, like in infrastructure, but we need to check other sectors. And the best way to check is to ask critics, what do you think? What has happened? Has it happened the way you want it? Should we do more? You get feedback, and then you work along," Rajan told the PTI.

Rajan emphasized that improving ease of doing business is crucial for driving growth, especially by reducing bureaucratic hurdles and the fear of regulatory raids.

"There’s a package that can propel economic growth, and if we focus on that, it will strengthen 'Make in India'," he said. He also noted that merely following global metrics, such as the World Bank’s ease of doing business rankings, isn’t enough. The government, he argued, should engage directly with businesses to understand their challenges on the ground.

Related video: For India, this is definitely a significant moment: Viswanathan Anand (Dailymotion)


Despite efforts like the production-linked incentive (PLI) schemes and the easing of foreign direct investment (FDI) norms, Rajan pointed out that the path to becoming a developed nation is still challenging. He expressed concern over whether India’s current growth trajectory is sufficient to meet its ambitious goals.

"If we grow at 7 per cent, then we will be past Germany and Japan in 2-3 years. That is not something which is out of the realm of possibility, it will happen. What is more worrisome, however, is when we say a developed nation. Now, what does it mean to be developed now? That is also a changing metric".

Explaining further, he said, "Let us say being developed is having a per capita GDP in today's dollars of about USD 15,000".

"If you see that, then you put a 7 per cent growth rate, and you find it is not enough to become USD 15,000 per capita GDP by 2047 we need to do better," Rajan said. The eminent economist also wondered that from where are "we going to generate that growth to become a developed nation by 2047".

Rajan suggested that coalition governments could drive more agile and consensus-based reform, referencing the PV Narasimha Rao government’s success in implementing significant reforms without holding a supermajority.

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A discussion how India will become a 55 TR. USD economy by 2047. I. E in 100 years of becoming independent.

 

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India set to boost aircraft manufacturing, government to collaborate with HAL and NAL​

Story by FE Online
• 16h • 2 min read

"We want to design and manufacture planes in India," Naidu said. (Twitter)
Civil Aviation Minister K Rammohan Naidu on Monday (October 21) announced that the government aims to develop aircraft design and manufacturing capabilities in India, collaborating with industry leaders.

The Bhartiya Vayuyan Vidheyak Bill 2024, passed by the Lok Sabha in August, includes provisions to regulate aircraft design and manufacturing, aligning with the Aatmanirbhar Bharat initiative.


Also Read
Ministry of Civil Aviation mulling legislative actions to deal with bomb threats to airlines – Details inside
“We want to design and manufacture planes in India. We are taking help from HAL (Hindustan Aeronautics Ltd) and NAL (National Aerospace Laboratories) and other industry partners we have,” Naidu stated.

“In the foreseeable future, we want to also have a situation where we manufacture planes not for domestic demand only but also for the demand of the entire world… we are going to move towards it,” the minister said.

Also Read
UDAN scheme marks 8 years: 71 airports operational, 601 routes active and 1.44 crore passengers benefited till now

India becoming key market for aviation manufacturers​

Currently, HAL is producing small civilian planes on a limited scale. As India continues to be one of the fastest-growing aviation markets, with over 1,200 planes on order, the country is becoming a key market for manufacturers like Boeing and Airbus.

Also Read
Indian airlines plagued by hoax bomb threats – Know what security protocols kick in when a flight gets a bomb threat notification
Naidu also mentioned that the government plans to establish a special purpose vehicle (SPV) to accelerate domestic commercial aircraft production.

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A discussion how India will become a 55 TR. USD economy by 2047. I. E in 100 years of becoming independent.

Will the locals benefits from this or will this only create a few more Ambanis?

 

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Will the locals benefits from this or will this only create a few more Ambanis?

When will you people come out of ill mentality? Ambani Employs millions directly and Indirectly. Ambani's employees are highly paid guys. Ambani contributes billions of USD to Indian economy (more than 30% of whole Pakistan Economy), His contributes a lot to the wealth of India (His Company's net worth is more than 20 times the total Market capitalization of Pakistan Stock Exchange) and his company pays a huge amount as a tax out of which India runs many development projects.

 

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First C-295 to roll out of Guj facility in '26​

18h • 2 min read

First C-295 to roll out of Guj facility in '26
Ahead of the inauguration of a manufacturing facility for C-295 planes in Vadodara, official sources on Sunday said of the 40 aircraft to be made in India, the first C-295 is likely to roll out of the plant in September 2026. Prime Minister Narendra Modi had laid the foundation stone of the Final Assembly Line (FAL) plant of C-295 aircraft in Vadodara in October 2022.


The Ministry of Defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.

Of these 56 aircraft, a total of 16 will be brought in flyaway condition directly from Spain, and 40 will be built in India by Tata Advanced Systems Ltd (TASL).

First C-295 medium tactical transport aircraft was delivered in September 2023.

As on date, the IAF has "already inducted six C-295 aircraft" in its Vadodara-based 11 Squadron. The last of the 16 flyaway aircraft will be delivered by August 2025, an official source said.

Spanish Prime Minister Pedro Sanchez is scheduled to visit India from October 28-30, during which he will visit the Vadodara facility on Monday.

PM Modi and his Spanish counterpart will inaugurate the Final Assembly Line plant of C295 aircraft at Vadodara, the first private sector final assembly line for military aircraft in India, the Prime Minister's Office (PMO) said in a statement on Saturday.


Related video: Watch: PM Modi, his Spanish counterpart inaugurates Tata aircraft complex in Vadodara (India Today)
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"Of the 40 aircraft to be made in India, the first C-295 will roll out of the Vadodara facility in September 2026 and the remaining 39 aircraft by August 2031," the source added.

The IAF is procuring the C-295 aircraft to replace its fleet of ageing Avro-748 planes that entered the service over six decades ago.
For more news like this visit The Economic Times.

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