Bengaluru, Aug 13 (IANS) Global software major Infosys on late Tuesday said it would provide telematics software to car maker Toyota's material handling arm in the US on its cloud platform.
"Toyota Material Handling North America has selected us for a cloud-based IoT (Internet of Things) telematics product implementation with application support and development for its SAP platform," said the city-based IT behemoth in a statement here.
The telematics solutions will enable the Japanese auto giant to focus on improving business performance, increase productivity and enhance customer satisfaction.
"As the development partner for global telematics solution (GTS), we will enable remote monitoring and diagnostic capabilities, including vehicle access control, system maintenance, condition sensing and location tracking of Toyota's subsidiary in the US," said the company in the statement.
Leveraging its experience and presence in the connected vehicle space, the outsourcing firm will help the Toyota arm draw insights from the data to provide better service and improve its after sales experiences for consumers in the forklift industry.
"We will also provide SAP application maintenance services to the Toyota arm through its serviceAoffering that enables smart governance, higher productivity, business satisfaction andAefficiency," said the statement.
The software will also give Toyota subsidiary access to latest application maintenance system that leverages industry best practices, a scalable and flexible model aligned to its business plans with a roadmap for technology adoption, while driving operational efficiencies.
"It is essential for firms to focus on opportunities to transform their business as Toyota arm is doing. GTS has the potential to transform communication between different teams and provide insights to add value to the business," said Infosys global head for manufacturing Jasmeet Singh on the occasion.
As the industry leader in forklift sales, the Toyota arm has three business divisions, including Toyota Material Handling U.S.A., Inc; Toyota Industrial Equipment Manufacturing Inc and Raymond Corporation.
"Since we see greater customer demands, we believe we can gain a competitive advantage by leveraging technology as we go through digital transformation. As we are focusing on providing a better customer experience, we feel Infosys is the right partner in this area,a said Toyota arm's chief information officer Alan Cseresznyak in the statement.
The $3-billion Toyota subsidiary's three plants at Columbus in Indiana, Greene in New York and Muscatine in Iowa produce 1,500 forklifts per week.
By Anjana Das
New Delhi, Dec 11 (IANS) The RBI's Flexible inflation targeting framework will be reviewed only after March 2021, its Executive Director Micheal Patra has told analysts.
Flexible inflation targeting is a monetary policy strategy used by the Central bank to maintain the price level within a certain range. This strategy indicates the importance of price stability as the prime factor of monetary policy.
Inflation targeting is known to bring more stability, predictability, and transparency in deciding monetary policy. This is because of the argument that rising prices create uncertainties and adversely affect savings and investments.
A pact was signed by then Finance Secretary Rajiv Mehrishi and then RBI Governor Raghuram Rajan, saying the primary target of monetary policy would be to achieve price stability, while keeping in mind the growth objective.
The inflation range has been modified from time to time under the flexible inflation policy. Under this policy, India adopted a flexible inflation targeting mandate of 4 (+/-2) per cent and headline consumer price inflation was chosen as the nominal anchor.
Flexible inflation targeting was followed in 2015. The framework made RBI more accountable to explain to the government if it fails to meet the inflation targets. The flip side of this is such targets will restrain RBI from taking any aggressive or accommodating monetary policy stance. This has put India on par with other nations in terms of flexible inflation targeting.
"If you see those RBI projections, then nominal GDP growth falling below the interest rate and government borrowings is likely to be a one-quarter phenomenon. And nominal GDP is projected to rise in the quarters ahead. As far as the regime is concerned, RBI has been mandated to conduct flexible inflation targeting, and this framework will be reviewed only after March 2021," Patra told analysts during a concall post monetary policy.
In its monetary policy briefing, RBI Governor Shaktikanta Das had said the real GDP growth has moderated to 4.5 per cent year-on-year (y-o-y) in Q2:2019-20, extending sequential deceleration to the sixth consecutive quarter.
The slowdown in GDP growth was cushioned by a jump in Government Final Consumption Expenditure (GFCE).
On the supply side, Gross Value Added (GVA) growth decelerated to 4.3 per cent in Q2:2019-20, pulled down by contraction in manufacturing. Growth in the services sector moderated, but agricultural GVA growth increased marginally.
He had also said the Consumer Price Inflation (CPI) increased sharply to 4.6 per cent in October, propelled by a surge in food prices. Fuel group prices remained in deflation, while inflation in CPI, excluding food and fuel, moderated further from its level a month ago, reflecting the underlying weakness in domestic demand conditions.
Survey responses indicate that households' inflation expectations increased by 120 basis points over the 3-month ahead horizon and 180 basis points over the 1-year ahead horizon as they adapted to the spike in food prices in recent months.
Manufacturing firms expect weak demand conditions and reduced input price pressures in Q3:2019-20 and Q4, but they also expect muted output prices reflecting further weakening of pricing power.
Taking into account these developments, the MPC revised the CPI inflation projection upwards to 5.1-4.7 per cent for H2:2019-20 and 4.0-3.8 per cent for H1:2020-21, with risks broadly balanced.
Real GDP growth for 2019-20 is revised downwards from 6.1 per cent in the October policy to 5 per cent-4.9-5.5 per cent in H2 and 5.9-6.3 per cent for H1:2020-21.
(Anjana Das can be contatcted at firstname.lastname@example.org)