The Ministry of Steel on Monday signed Memoranda of Understanding (MoUs) with 55 companies for 85 projects under the third round of the Production-Linked Incentive (PLI) scheme for specialty steel.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
18 Indian-flagged vessels with 485 Indian seafarers still remain in the western Persian Gulf region
The ministry of petroleum and natural gas on Friday reiterated that India has sufficient stock of crude oil, petrol and diesel, while ensuring an uninterrupted supply of LNG and LPG despite disruptions caused by the ongoing West Asia conflict.
Ahead of the key meeting called by the steel ministry with the industry captains on Monday to discuss the impact of rising steel imports, companies have raised the issue of cheaper 'substandard' inflows from China, Vietnam, and South Korea, saying they are setting the benchmark for domestic prices and squeezing the profitability of Indian producers.
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
The bill has now been sent to the Mines Ministry for fine tuning and the final draft is to be placed before the group of ministers at its next meeting.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
The steel ministry has asked its finance counterpart to expedite the implementation of the measures that have been decided but not implemented yet to contain steel prices.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
The Indian military will showcase an Operation Sindoor-themed tableau for the Republic Day parade, highlighting the jointness of the three services and India's military capabilities.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
Growth of eight key infrastructure sectors remained flat in October as expansion in output of petroleum refinery products, fertiliser and steel was offset by a contraction in coal and electricity production, according to official data released on Thursday.
Next week's three-nation foreign tour of Prime Minister Narendra Modi will see India and Oman sign a free trade deal. The visit will also pave the way for agreements with Ethiopia and Jordan to increase India's bilateral trade and investments.
Besides Karti Chidambaram, the Lok Sabha MP from Sivaganga, the CBI had named his alleged close associate and chartered accountant, S Bhaskararaman, Talawandi Sabo Power Ltd (TSPL), a subsidiary of Vedanta, and Mumbai-based Bell Tools, through which bribes were allegedly routed.
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers. However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
For Canada, important steps towards containing domestic elements that fuel pro-Khalistan sentiments can go a long way in signalling trust positively with regard to security and sovereignty, point out Harsh V Pant and Vivek Mishra.
139 Naxalite cadres surrendered in Maharashtra and Chhattisgarh, marking a significant turning point in the fight against Left Wing Extremism. The surrenders included a top Maoist strategist and were hailed as a sign of the movement's decline.
To prevent companies from submitting unrealistic quotes to bag project contracts across industries, the government is planning to soon roll out a mechanism to curb irrational bidding.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
'And then the people who call themselves great nationalists, I can bet you that 99 per cent of them are dodging taxes, have sent their kids to America, or are doing everything to make sure that what goes on in this country doesn't affect their personal wealth or their whatever bull*&$%.'
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
India has strongly criticized the US and EU for their 'unjustified and unreasonable' targeting of New Delhi for its procurement of Russian crude oil, pointing out their own continued trade relations with Russia.
The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India.
United States President Donald Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially' over the next 24 hours because it is buying Russian oil.
State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April.
India's merchandise exports to the US rose by 16.93 per cent to $8.83 billion in May, while imports dipped by 5.76 per cent to $3.62 billion during the month, according to the commerce ministry data. During April-May, the country's exports to the US increased by 21.78 per cent to $17.25 billion, while imports rose by 25.8 per cent to $8.87 billion, the data showed.
President Trump addresses questions about US imports from Russia and India's stance on purchasing Russian oil, hinting at potential tariffs.
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