Hero Electronix buys Indian biz of TES DST Holding
The Dollar Business Bureau Hero group's electronics arm, Hero Electronix, acquired TES DST Holding Europe's Indian venture. This marks Hero’s entry in designing and manufacturing of avionic and automotive products. The company revealed that they acquired the German-based TES DST’s Indian business through Tessolve Semiconductor, an Indian company in which Hero Electonix owns strategic stake. With the partnership with TES DST, Hero Electronix has the expertise to offer advanced and sophisticated technological products comprising hardware and software development for avionics, automotive, industrial, transportation and home automation domains, said Ujjwal Munjal, Founder-Director of Hero Electronix. Munjal did not give out the details of the transaction involved in the acquisition. However, he said that the acquisition was part of the planned investment of 1,000 ...
India to focus on high value items to double exports by 2019
The Dollar Business Bureau | @TheDollarBiz India plans to focus on its strengths and on labour intensive sectors to push total exports to over $900 billion in the next five years, a target that is almost double the total exports of $464 billion recorded in FY2013-14. This translates into a CAGR of approximately 14%, and is expected to improve India’s share of global exports to above 3% by FY2019. India’s exports have fluctuated in the last 10 years, with merchandise exports growing an astounding 40% in FY2010-11, while declining only twice, in FY2009-10 (-3.5%) and FY2012-13 (-1.8%). However, overall, India’s merchandise exports have grown around 76% in the last five years, up from around $178.7 billion in FY2009-10. Source - ...
