India

[Viking]

Another indicator that India has arrived… As India continues to shift from public to private ownership it looks like it is using it as an opportunity to create more home grown companies that will have the scale to be able to compete on the global stage. Interesting model of development. With big winners.

—————

How secret London talks led to Air India’s gigantic plane order
- https://www.theglobeandmail.com/business/international-business/article-how-secret-london-talks-led-to-air-indias-gigantic-plane-order/

 

Air India’s record aircraft deal has put the Tata Group-owned airline in the league of aspiring global carriers.

 

On Tuesday, it provisionally agreed to acquire almost 500 jets from Airbus and Boeing to take on domestic and international rivals.

Striking the largest ever deal by one airline took months of secret talks carried out a stone’s throw from Britain’s Buckingham palace and culminating in a celebration over coastal Indian curries, according to people involved in the talks.

 

Confidentiality was lifted on Tuesday as leaders hailed the accord in a diplomatic embrace between leading G20 nations. Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs.

Edited February 15, 2023 by Viking

[Herald of the Hudson]

Does anyone know of an Indian Edgar equivalent?

[PJM]

There is none.

 

For all company related filings and announcement you can look at the exchanges

https://www.nseindia.com/companies-listing/corporate-filings-application

 

For new IPO prospectus you can look at SEBI site

https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=3&ssid=15&smid=10

 

You can also check out screener.in which is a pretty good portal for scanning through all companies

 

 

[Herald of the Hudson]

Ok, thanks for the pro tip PJM

[Viking]

Here is the bull case for investing in India. Prem provided the link in his annual letter. 
—————

From Prem’s letter: “As I was writing this to you, Mr. Athappan sent me a video by Deepak Bagla, Managing Director and CEO of Invest India, who describes the amazing transformation taking place in India. It is breathtaking and prompted me to include it in this letter! (www.youtube.com/watch?v=45PrXujlQCo)”
 

 

Edited April 2, 2023 by Viking

[Castanza]

On 4/2/2023 at 12:26 AM, Viking said:

Here is the bull case for investing in India. Prem provided the link in his annual letter. 
—————

From Prem’s letter: “As I was writing this to you, Mr. Athappan sent me a video by Deepak Bagla, Managing Director and CEO of Invest India, who describes the amazing transformation taking place in India. It is breathtaking and prompted me to include it in this letter! (www.youtube.com/watch?v=45PrXujlQCo)”
 

 

 

Listened to a podcast about the IPL on Business Breakdowns a few weeks ago. All I can say is I wish there were a way to invest. 

Virat Kohli (cricket player) has more Instagram followers than Taylor Swift. 

 

I've been doing more and more digging into India and this is definitely an economic powerhouse in the making. The age demographics look very favorable and look similar (better) than the US in the 1950's. 

Edited April 3, 2023 by Castanza

[valueseek]

This is a good one. Have followed him

last 7-8 years. Has some good books. He is generally bullish but also quite practical in the way he has been vary about avoiding the corrupt companies.

 

 

[whatstheofficerproblem]

The thing with India is, most Indians don't realize the power they hold. If the entirety of India is a market, a 1% penetration would mean a TAM of 14 million people. The CCP knows the power they hold as a market and their people hold as a consumer and the wealth they can generate for companies. They have played their cards right and hence is the reason why most corporations prostrate before the CCP while spreading values in the west. While I am an open market absolutist, as an Indian, I would at least for once in my lifetime like to see some big corporations stripped of their hypocrisy in my motherland, that would be the day she would truly become a 'superpower'. 

Everything else aside, the start up space is booming in India, and I don't know how many of you guys noticed this, but looks like Tencent holds stakes in most of the Indian start-ups these days.

[Xerxes]

[Spekulatius]

@Xerxes Seems like another example to show that Modi is showing more and more autocratic tendencies. Rewriting history is a classic textbook example of autocratic behavior to control the political narrative in the long run.  I realize a lot of people here like Modi and maybe I don’t know what I am talking about, but I suspect they like Modi because he has delivered some results l even though his process leans autocratic. Thats a dangerous path to go down though.

[ICUMD]

One of the most unfortunate events in my opinion was the partition of India into India and Pakistan in 1947. A division of territory based on religious faith:  Hindu or Muslim. 

 

Muslim separatists 'won' their own territory in gaining Pakistan in 1947.  Orthodox Hindu's feel India is theirs.

 

 

[Xerxes]

5 hours ago, Spekulatius said:

@Xerxes Seems like another example to show that Modi is showing more and more autocratic tendencies. Rewriting history is a classic textbook example of autocratic behavior to control the political narrative in the long run.  I realize a lot of people here like Modi and maybe I don’t know what I am talking about, but I suspect they like Modi because he has delivered some results l even though his process leans autocratic. Thats a dangerous path to go down though.

For now he seems to understand that he cannot be Deng and Xi at the same time, so he is being just Deng, developing India economically, while “bidding his time and hiding his strength”  

 

it starts with text books, and than that generation grows up to become decision makers. Thankfully there is a democratic process and will still be fully functional.

[Xerxes]

5 hours ago, ICUMD said:

One of the most unfortunate events in my opinion was the partition of India into India and Pakistan in 1947. A division of territory based on religious faith:  Hindu or Muslim. 

 

Muslim separatists 'won' their own territory in gaining Pakistan in 1947.  Orthodox Hindu's feel India is theirs.

 

 

I would have loved to see a multi cultural, diverse post-1947 combined India. Not wasting resources on confrontation with a militarized Pakistan. 
 

A Hindu-dominated India, and Muslim-dominated Pakistan, where does that leave the Sikh and others ? 

[ICUMD]

Indeed.  Racial segregation is a waste of energy and resources.  Countries that encourage diversity prosper most, like USA and Canada where many a Fortune 500 is run by a visible minority.  China is lacking in this regard.  

 

India, well racism there is a whole different story. 

[tnp20]

This is equivalent to Texas putting 10 commandments in schools. On a totalitarian scale its much lower than Xi or Erdogan. Yes, the tweak is wrong from historical perspective but the author makes too much out of it. XI is wiping out Tibetan and Uigar culture...this is not even close. Whats with the book covered in blood ....and not mentioning Modi was cleared of any wrong doing for the Gujarat riots by India's supreme court ( its probably lot less corrupt then ours given the recent events)....take author's bias with buckets of salt. I guess the Economist must be running out of good stories, after all they have a paper to sell. I have always hated shallow stories that are easy to write (even if they are true), it means the author is too lazy to dig  a more interesting but difficult story  ..with well researched data that took months to write.

 

Lets focus on the investment case (signal) and not be distracted every political act (noise) in the country. Imagine if foreigners made investment decisions in the USA based on Texas situation or national abortion ruling. As always ...pluses and minuses with each country and whats the objective and the time frames.

 

No one who is looking long term at India going to pull their investment dollars out by reading this article.

Edited April 30, 2023 by tnp20

[cheapguy]

Orthodox Muslim religious scholars are still living in medieval times in India.

For example in India - Muslim man can marry up to 4 wives. The law allows only for Muslim man. It is illegal for everyone else like Christians, Buddhists, Sikhs, and Hindus. Polygamy (polyandry to be more specific) is legally allowed for Muslims only, as Islamic scholars claim everything done by Muslim Prophet Mohammed should be allowed.  

 

Some Islamic Religious groups do not want any reform, as they are afraid of losing their power.

Modi is trying to reform this outdated behavior. 

Muslim women see Modi as their savior.

All male self-selected Muslim religious leaders are waging a vicious campaign to keep their power. 

 

https://www.bbc.com/news/world-asia-india-61351784

In India, the issue is a political hot potato. Prime Minister Narendra Modi's Hindu nationalist Bharatiya Janata Party (BJP) has promised to enact a Uniform Civil Code (UCC) - a contentious piece of legislation that will mean marriages, divorces and inheritance will no longer be governed by their religious law but will come under a common law applicable to all citizens.

And at a time when the country is highly polarised along religious lines, any reform suggested by the government is bound to be considered an onslaught on Islam by a majority of Muslims.

https://www.bbc.com/news/world-asia-india-61351784

 

 

Edited May 6, 2023 by cheapguy

[Ulti]

https://www.noahpinion.blog/p/herecomesindia

[tnathan]

This is another great read laying out the broader India investment case. I also happen to be in India at the moment (here for a month traveling) and you can feel the energy in the people. As much as the government has problems, it’s clearly making positive investments and spending money in areas that will boost the economy, and people here want to succeed. In many ways I think the positive energy represents what the US has lost in recent decades.

 

https://www.dispatchesfromindia.com

[Haryana]

On 4/29/2023 at 9:17 AM, Xerxes said:

 

 

[Haryana]

ChatGPT Founder CEO to fund startups in India.

 

Talking about his plan for India, Altman said that the first thing he will do in India is to fund startups.

“We were always amazed and quite grateful for the quality of Indian startups,” he said, adding that he had met some startups in India.

Given India’s strong IT industry and a large set of data, AI-based utilities can leverage huge potential in the country. However, AI is still in its early stages.

 

https://theprint.in/economy/openai-chief-sam-altman-meets-pm-modi-discusses-global-regulation-for-ai/1619858/

 

[Haryana]

https://www.cnn.com/2023/06/19/business/airbus-indigo-plane-deal-biggest-history/index.html

 

"

Airbus has just landed the biggest-ever aircraft order in the history of commercial aviation.

The French aerospace giant announced Monday that budget Indian airline IndiGo had placed an order for 500 of its A320 planes, to be delivered between 2030 and 2035.

The deal sets “the record for the biggest single purchase agreement in the history of commercial aviation,” Airbus (EADSY) said in a statement, and brings the total number of Airbus (EADSY) planes IndiGo has ordered to 1,330.

 

Founded in 2006, IndiGo is India’s top airline by market share, according to its website. It flew 86 million customers in the last financial year.

Aviation companies are eager to capitalize on India’s strong economy and its booming population, which may well translate into higher demand for air travel further down the line. In February, IndiGo’s rival Air India ordered more than 470 jets from Airbus and Boeing (BA).

"

[Haryana]

Why PM Modi’s US visit is a big hit

https://www.firstpost.com/explainers/pm-narendra-modi-us-visit-defence-jet-engine-deal-space-technology-joe-biden-12783732.html

 

1. General Electric announcing a collaboration with India’s state-owned Hindustan Aeronautics Ltd to produce fighter jet engines for the Indian Air Force.

2. New Delhi will also procure 31 High Altitude Long Endurance (HALE) drones, MQ-9B, from General Atomics, in a mega deal worth billions of dollars.
3. The US Navy has also finalised a Master Ship Repair Agreement. This will allow US Navy ships in the region to undergo service and repair at Indian shipyards.
4. India’s Epsilon Carbon Limited to invest $650 million, largest ever Indian investment in the US electric vehicle battery industry.
5. Biden and Modi also hailed the launch of the US-India Defense Acceleration Ecosystem (INDUS-X) – a network of universities, startups, industry and think tanks.
6. ISRO astronauts will receive advanced training from NASA in order to kickstart a joint effort to the International Space Station in 2024.
7. Micron Technology announced its plan to invest up to USD 825 million to build a new $2.75 billion semiconductor assembly and test facility in Gujarat.
8. Applied Materials will set up a Semiconductor Centre for Commercialization and Innovation in India to boost semiconductor supply chain diversification.
9. US intends to open (new) consulates in Bengaluru and Ahmedabad, India is planning to open a consulate in Seattle later in 2023.
10. Google CEO Sundar Pichai informed Modi on Friday (23 June) about his plans to invest $10 billion in India’s digitisation fund.
11. India’s Sterlite Technologies to build an optical fibre cable manufacturing unit in South Carolina leading to $150 million in annual exports of optical fibre from India.
12. In a nearly hour-long address to US Congress, PM Modi’s speech was received well, with over 79 applause and 15 standing ovations.

 

[Spekulatius]

Great news for the US and Russia. It’s much better to work with India and reduce dependency on China. India is far more likely to become a real superpower than China, due to demographics alone.

[Dinar]

40 minutes ago, Spekulatius said:

Great news for the US and Russia. It’s much better to work with India and reduce dependency on China. India is far more likely to become a real superpower than China, due to demographics alone.

Time will tell whether that will be good for the US and Europe.   India seems to me no less nationalistic and protectionist than China.  

[Haryana]

On 6/24/2023 at 8:39 PM, Dinar said:

Time will tell whether that will be good for the US and Europe.   India seems to me no less nationalistic and protectionist than China.  

 

what is your opinion on Japan, is Japan less nationalistic than China/India?