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Crompton Greaves & Arelis enter into MOU to jointly manufacture electronic goods for various sectors. Positive in short term
Crompton Greaves (CG) has entered into an agreement with French firm Arelis to jointly manufacture and supply electronics components to aerospace, Defence and a host of other sectors. CG provides electrical products, systems and services for utilities, power generation, industries and consumers, while Arelis specializes in design and manufacturing of high-tech electronic solutions.

Under a memorandum of understanding (MoU) signed by CG with Arelis, the two firms will explore manufacturing and supply of hybrid microelectronics for high mix-mid volume market and for high runner microelectronics hybrids markets for aerospace, defence, energies, utilities and telecommunication sectors, a release from CG said. believe this to be short term positive for Crompton Greaves.

November factory output at 5-month high of 3.8%; CPI rises 5% in December:
Industrial growth rebounded to a surprise fivemonth high in November while consumer inflation didn’t accelerate to the extent anticipated in December despite an adverse base effect, providing a double cheer for the Narendra Modi government, although that still won’t relieve pressure on the central bank governor for a cut in key interest rates early February.

Industrial growth rose 3.8% in November, reversing the sharp 4.2% contraction in the previous month, data released by the statistics office on Monday showed. Consumer inflation hastened to 5% in December from 4.38% in the previous month, largely because of the base effect, separately released data showed.

Economy needs $800 billion annually for 7% growth: Financial Services Secretary Hasmukh Adia
“If the economy is to grow at 7%, given a nominal inflation of 5- 7%, and a credit-to-GDP multiple of 1.3%, the average growth rate in financing will have to be 18%. In terms of numbers it comes to $800 billion per year,” . While $130 billion came from domestic financial institutions and banks, $13.4 billion came from foreign institutional investors, FDI was worth $21.6 billion and $32 billion came through the ECB route. He also said that against an annual requirement of $800 billion net foreign institutional investments and net FDI investments were only about $35 billion last year.

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