Business

Iran US talks

 

The end of sanctions will allow Iran to attract investment in its massive oil and gas reserves, putting a long-term damper on prices.

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GAIL

 

The state-run GAIL will spend close to Rs. 9,500 crores to acquire a shale gas asset in the United States to meet future gas demand in India and other markets.

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tata-boeingNEW DELHI: In yet another boost to Prime Minister Narendra Modi's 'Make in India' drive, Boeing and Tata Advanced Systems Limited (TASL) on Wednesday signed a framework agreement to collaborate in aerospace and defence manufacturing and potential integrated systems development opportunities, including unmanned aerial vehicles.

The companies intend to access markets jointly for products and platforms developed together by Boeing and TASL, a company press release said.

The agreement was signed by Shelley Lavender, president of Boeing Military Aircraft and Sukaran Singh, managing director and chief executive officer of TASL. TASL already has a contract to manufacture aerostructures for Boeing's CH-47 Chinook and AH-6i helicopters.

"This agreement with TASL is significant because it demonstrates Boeing's commitment to expanding its aerospace manufacturing footprint in India," Lavender said.

"As we step into our 100th year in business, a new aerospace partnership with India is the perfect milestone to accelerate the momentum we have generated for making in India," said Pratyush Kumar, president for Boeing India. "It is noteworthy that TASL will produce Chinook helicopter parts in India even before the procurement contract is signed with the Indian government."

"This framework agreement is the result of the world-class competencies of TASL as well as the vendor eco-system it has helped establish in India. It gives us an opportunity to explore the massive potential in India for aerospace manufacturing and make the investments required to grow the industry," said S. Ramadorai, Chairman of TASL. "Boeing's platforms require complex manufacturing processes within a competitive cost structure and we are confident that the partnership will be able to deliver high quality aerostructures out of India."

Other Tata group companies - Tata Advanced Materials Limited (TAML) and TAL Manufacturing Solutions (TAL) - are also supplying important components to Boeing. TAML has delivered power and mission equipment cabinets and auxiliary power unit door fairings for the P-8I long range maritime surveillance and anti submarine warfare aircraft.

Goldman Sachs

 

Business activity has picked up in the second quarter of 2015, says Goldman Sachs.

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