Posted on: 10-01-10 10:03:22
Anti Indian Congi is doing everything that they can do to destroy India. To my knowledge, Madmohan has only one daughter who is married to a white American and settled in USA. Madmohan, being PM will have no problems in future if and when he retires. However, before that , he wil ensure demise of Indian manufaturing , handing over Kashmir to Pakistan at behest of another moron Obama and ensure complete destruction of education sector (destroying reputation of IIM and IITs) in India.
An interesting article. Follow the link
http://economictimes.indiatimes.com/default1.cms
The link goes to the home page of Economic Times.
Which article are you referring to?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by pratickm
The link goes to the home page of Economic Times.
Which article are you referring to?
It was on China killing Indian manufacturing. This comes from L7T CEO Naik. It seems that ET has taken out the Article for whatever reason. However, it appears verbatim in BS which I have reproduced below. Congi b*****s know that China has fomented Naxalite troble, taken over Tibet and main ally of Pakistan but toed their line on Environment summit.
ARTICLE
"Private sector engineering major Larsen & Toubro (L&T) has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.
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"China has a fixed currency. It is not a market economy like ours. China is systematically killing the Indian manufacturing sector," A M Naik, who was here for foundation stone laying ceremony of a forgings unit at Hazira told reporters here yesterday.
"There are taxes on goods manufactured locally, but none on imported products (from China). This is an unfair situation for Indian goods. This is why there should be 25 per cent anti-dumping duty on Chinese products," Naik said.
Speaking specifically about power equipment sector, in which L&T is a major player, Naik said: "The Indian power companies, especially those in the private sector, have placed huge orders for power plant equipment with China. We can say that Chinese power sector is virtually working for India."
"It is not good that 80 per cent of our dependence for power plant equipment is on one country, and that too China," he said, adding that China should not be allowed to grow at the cost of Indian companies.
"The day China opens its economy, its prices are bound to go up by 25 per cent," he said.
"But unfortunately we are not taking any steps to stop it," Naik further said.
L&T's special steel manufacturing and ultra heavy forgings unit at Hazira is a joint venture with Nuclear Power Corporation of India (NPCIL), in which L&T holds 74 per cent stake while the latter 26 per cent.
The plant is being set up at an investment of Rs 1,750 crore, and will supply finished forgings for nuclear reactors, pressurisers and steam generators, besides heavy forgings for critical equipment in the hydrocarbon sector, as well as thermal power plants and steel plants. The unit is expected to begin operations between March and May next year.
L&T is also investing over Rs 5,000 crore for setting up facilities to manufacture boilers, turbines, modular fabrications. It is also establishing a ship-building unit and a power plant at its Hazira facility.
"The boiler shop will be opened in March or April this year, which will be followed by the turbine shop in August or so," Naik said.
Dear Nightmare I agree with you on the policy issue.Incidentally Happy Singh has another daughter in New Delhi who is a professor of History and she won the Infosys award last week.
But don't you think this guy is better than one of this three idiots(the other two are his sons). He goes onto call the chief minister a bloody B. Watch for yourself.
http://www.youtube.com/watch?v=xn4QiDEC-Qs
Then he goes to say that he was misquoted.
Where in the world(technology) does he believe he is in?.
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Sunny Leone a true Canadian DESI now back in India !.
This is not 100% true. The reason being India is the number 1 exporter of humanbeing.
http://ca.news.yahoo.com/s/capress/100110/business/as_china_trade
China overtakes Germany as biggest exporter Module body
Sun Jan 10, 12:14 PM
By Joe Mcdonald, The Associated Press
BEIJING - 
China overtook Germany as the world's top exporter after December exports jumped 17.7 per cent for their first increase in 14 months, data showed Sunday, in another sign of China's rise as a global economic force.
Exports for the last month of 2009 were US$130.7 billion, data from the General Administration of Customs showed. That raised total 2009 exports to $1.2 trillion, ahead of the $1.17 trillion for Germany forecast by its foreign trade organization, BGA.
China's new status is largely symbolic but reflects the ability of its resilient, low-cost manufacturers to keep selling abroad despite a slump in global consumer demand due to the financial crisis.
December's rebound was an \"important turning point\" for exporters, a customs agency economist, Huang Guohua, said on state television, CCTV.
\"We can say that China's export enterprises have completely emerged from their all-time low in exports,\" Huang said.
Stronger foreign sales of Chinese goods could help to drive the country's recovery after demand plunged in 2008, forcing thousands of factories to close and throwing millions of labourers out of work.
Boosted by a 4 trillion yuan ($586 billion) stimulus, China's economic expansion accelerated to 8.9 per cent for the third quarter of 2009 and the government says full-year growth should be 8.3 per cent.
Economists and Germany's national chamber of commerce said earlier the country was likely to lose its longtime crown as top exporter.
German economist Volker Treier predicted recently that Germany was set to lose the \"world export championship\" because of China's bigger size and higher population.
\"By 2010, this title will be history, because the Chinese will simply outdo us due to their bigness,\" Treier told the German news agency DAPD.
He said it may not be a bad thing, either, \"because if China grows, this pushes the world's economy - and that's good for export-oriented Germany as well.\"
China is best known as a supplier of shoes, toys, furniture and other low-tech goods, while Germany exports machinery and other higher-value products. German commentators note that their country supplies the factory equipment used by top Chinese manufacturers.
China surpassed the United States as the biggest auto market in 2009 and is on track to replace Japan as the world's second-largest economy soon. China passed Germany as the third-largest economy in 2007.
China's trade surplus shrank by 34.2 per cent in 2009 to $196.07 billion, the customs agency said. That reflected China's stronger demand for imported raw materials and consumer goods while the United States and other economies are struggling and demand is weak.
The United States and other governments complain that part of China's export success is based on currency controls and improper subsidies that give its exporters an unfair advantage against foreign rivals.
Washington has imposed anti-dumping duties on imports of Chinese-made steel pipes and some other goods, while the European Union has imposed curbs on Chinese shoes.
The U.S. and other governments also complain that Beijing keeps its currency, the yuan, undervalued. Beijing broke the yuan's link to the dollar in 2005 and it rose gradually until late 2008, but has been frozen since then against the U.S. currency in what economists say is an effort by Beijing to keep its exporters competitive.
The dollar's weakness against the euro and some other currencies pulls down the yuan in markets that use them and makes Chinese goods even more attractive there, adding to China's trade surplus.
Even though China overtook Germany as top exporter, the customs agency said total 2009 Chinese trade fell 13.9 per cent from 2008.
Commodities were among China's key imports, the agency said, with the country bringing in 630 million tons of iron ore last year, up 41.6 per cent from the previous year, and 200 million tons of crude oil, an increase of 13.9 per cent, as prices for both commodities fell.
Economists say China has been rushing to build up stockpiles at bargain prices since crude oil and other commodity prices plunged in 2008. That motive, more than a revival in actual industrial demand, has driven its recent import boom of oil, copper and other metals.
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Sunny Leone a true Canadian DESI now back in India !.
http://www.indianexpress.com/news/labour-ministry-raises-red-flag-over-illega/466451/
http://www.thehindubusinessline.com/2008/06/16/stories/2008061650990100.htm
On the micro level, this is interesting. Why does India need semi skilled labour from China ? Does India not have enough manpower ? Can they not be trained ? Why are the Indian business houses not vocal about hiring "foreign" workers ?
Is it that Chinese laborers work hard, better than Indian laborers?
KM
