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.