INDIAN STEEL PRODUCTION
President Droupadi Murmu highlights engineering sector's role in India's economic growth at EEPC India's platinum jubilee
President Murmu graced EEPC India's Platinum Jubilee, emphasizing the engineering sector's vital role in India's economic growth towards Viksit Bharat by 2047. Engineering exports have surged from $70 billion to over $116 billion in the last decade. The event also highlighted the importance of MSMEs and innovation, with calls to make India a global innovation hub.
12% safeguard duty on steel products sufficient, will seek more if import create challenges: Naveen Jindal
Naveen Jindal states that the proposed 12 percent safeguard duty on specific steel imports is adequate. He mentions the industry might seek government intervention if future import challenges arise. Jindal highlights the impact of US tariffs on global steel prices. He anticipates domestic steel demand to grow in double digits in fiscal year 2026.
India, EU officials commence next round of trade pact talks
India and the EU on Monday began the next round of talks for a free trade agreement (FTA), aiming to conclude negotiations by year-end. European Trade Commissioner Maros Sefcovic will visit India on September 12 to review progress with Piyush Goyal.
Tata Steel shares jump 3% to hit fresh 52-week high on strong sector tailwinds, brokerage optimism
Tata Steel shares surged to their 52-week high on Monday, banking on strong sector tailwinds, including India’s extended safeguard duty, China’s production curbs, and positive brokerage views. Morgan Stanley upgraded the stock to Overweight with a Rs 200 target, citing favourable demand and pricing trends.
GST Rate Changes 2025: Check full list of items with revised rates effective from Navratri, September 22
GST Rates List 2025: The GST Council has announced tax slab revisions impacting almost all goods and services. After the rationalisation of taxes, several items are likely to witness a tax reduction. The new GST rates will come into effect from September 22. However, gutkha, tobacco, and cigarettes are exceptions.
PSU stocks: Time to relook? But don’t use the 2023 lens; choose the business. 57 PSU stocks, some good, some not so good
A bull run from June 2023 to June 2024, and then a bear run for a year. PSU stocks now seem at a stage where it is probably time to look at them again. For those who have not noticed, some of these stocks have seen higher-than-average volumes. Also a sort of outperformance in the bearish phase where they did not decline like other stocks in the market. They are not in the news any more; nor are many talking about them on TV. All signs suggesting it might probably be time to look at them again. But this time do it from a very different perspective – and not just because they are PSU. What matters is the category of business they fall into.
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GST reforms will mitigate US tariff impact on Indian economy, says secondary steel industry body
Yogesh Mandhani, president of AIIFA, stated that GST reforms have lessened the impact of US tariffs on India's economy and advocated for mining policy changes to lower steel production costs by increasing iron ore availability. He also urged for uniform power tariffs across the nation to enhance the competitiveness and capacity utilization of secondary steel producers, currently operating at 68-70%.
When the Dragon meets the Elephant: Building a win-win framework for both India and China
Following a five-year hiatus, Prime Minister Modi and President Xi Jinping met to recalibrate relations, emphasising stronger people-to-people ties and expanded trade. Addressing India's trade deficit is crucial, with potential for Chinese investment in Indian manufacturing. Collaboration in public health, tourism, education and infrastructure offers mutual benefits, requiring a clear road map for sustainable partnership.
GST reforms will mitigate the US tariff impact on the Indian Economy
Yogesh Mandhani, President of AIIFA, stated that GST reforms have lessened the impact of US tariffs on India's economy and advocated for mining policy reforms to lower steel production costs by increasing iron ore availability. He also urged for power tariff rationalization and emphasized that targeting export markets could boost the capacity utilization of secondary steel producers, currently at 68-70%.
Sensex, Nifty50 end little changed as IT, consumer selloff offsets GST 2.0 led rally
Indian benchmark indices Sensex and Nifty concluded Friday's trading session with minimal movement. Profit booking in consumer and IT sectors counteracted gains in the auto industry, which was boosted by proposed tax cuts under the "GST 2.0" overhaul. The Sensex experienced a slight decrease, while the Nifty 50 saw a marginal increase.
EU trade chief heads to India as deal talks make 'rapid progress', New Delhi says
EU trade chief Maros Sefcovic is scheduled to visit New Delhi next week, signaling significant advancements in the ongoing negotiations for a free trade agreement. Indian trade minister Piyush Goyal highlighted the "rapid progress" made in discussions with the EU, aiming for a deal by year-end. This development occurs amidst recent tariff hikes by the U.S. on Indian goods.
Tata Steel shares slip as investors book profit after 6% rally
Tata Steel shares experienced a slight dip of 0.50% to Rs 167 on Thursday, following a strong 6% surge. This pullback occurs amidst ongoing optimism in the metal sector, fueled by anticipated firmer global steel prices due to China's planned production cuts and India's tariff protections.
Metal stocks surge as CLSA predicts recovery amid China's steel capacity cuts
Metal stocks saw gains on Wednesday. CLSA suggests the sector's downturn might be ending. China's planned steel capacity reduction could boost Indian metal companies' profits. Tata Steel and Jindal Steel experienced significant surges. Analysts predict further upsides for metal stocks. The Nifty Metal Index outperformed the benchmark Nifty. Experts highlight potential for sustained rally with demand recovery.
GST 2.0 is here: From namkeens to biscuits, your kirana basket just got cheaper
India's GST 2.0 slashes taxes on mass-consumed goods like namkeens and biscuits, aiming to ease household budgets and stimulate demand. This significant indirect tax reset, following income tax cuts, seeks to boost disposable incomes and reinforce consumption-led growth.
Ahead of Market: 10 things that will decide stock market action on Thursday
Indian markets closed higher on Wednesday, led by banking and metal stocks, with Nifty at 24,715 and Sensex at 80,567. Investors await GST Council updates that could impact consumption-led sectors, while technical indicators show cautious near-term market momentum and potential support-resistance levels.
Sensex rises 410 pts, Nifty50 tops 24,700 as banks, metal stocks advance
Indian markets closed higher on Wednesday, driven by banking and metal stocks, as investors anticipated GST Council updates regarding potential rate cuts. The Nifty rose by 0.55%, and the Sensex increased by 0.51%. Metal stocks surged, led by Tata Steel, while the IT index lagged due to concerns over U.S. manufacturing data.
Tata Steel and other metal stocks rally up to 6% on China capacity curbs, policy support
Metal stocks rallied on Wednesday with Tata Steel up 6%, as China’s production curbs and India’s tariff protection boosted sentiment. The Nifty Metal index rose 2.5%, led by Tata Steel, Jindal Steel, SAIL, and JSW Steel, with analysts seeing firmer steel prices ahead.
India ups the tempo in diversifying trade deals
India is accelerating its efforts to diversify export markets amid trade tensions with the US, actively pursuing new trade agreements with the Eurasian Economic Union (EAEU), the European Union (EU), and the South African Customs Union (SACU).
India seeks WTO consultations with US over 50 pc duty on copper
India has initiated discussions with the United States regarding tariffs on copper. This action follows India's reservation of rights to impose retaliatory duties. The US imposed a 50 percent tariff on certain copper imports. India considers this a safeguard measure and seeks consultations under WTO rules. Trade negotiations between India and the US are currently paused.
JSW Steel puts coking coal sourcing plans from Mongolia on hold amid logistics challenges
JSW Steel has paused its plan to import coking coal from Mongolia due to significant logistical challenges in transporting the material to India. The company found it not logistically feasible at the moment. India relies heavily on coking coal imports, primarily from Australia, and the government has been exploring alternative sources to diversify supply.
Trump plans 200% tariff on imported drugs, raising risk of higher US prices and shortages
US President Donald Trump has threatened pharmaceutical import tariffs of up to 200 per cent, a move that experts warn could raise drug costs and create shortages across the United States. Analysts say stockpiling may delay pain until 2027, but generics and low-income patients would suffer most. India’s exporters have been excluded from immediate enforcement. Courts have questioned the administration’s authority and the issue may reach the Supreme Court. The policy forces a choice between reshoring production and preserving affordable access.
Manufacturing activity expands to 17-year high in August
India's manufacturing sector experienced a significant surge in August, reaching a 17.5-year high with a PMI of 59.3, fueled by robust growth in production and new orders. Domestic demand cushioned the impact of increased US tariffs on Indian goods, while manufacturers increased input buying and hiring in response to rising output requirements.
India's factory growth hits more than 17-year high in August, PMI shows
India's manufacturing sector saw rapid growth in August. Production increased due to strong demand. The HSBC India Manufacturing PMI reached a high point. New orders grew robustly, but export orders softened. Firms increased hiring, though at a slower pace. Inflationary pressures also increased. Business confidence improved despite U.S. tariffs.
Indian exporters shift focus to new markets amid US tariff hike
Facing rising US tariffs, Indian exporters of rice, gems, jewellery, and tractors had already begun diversifying into markets like the UAE, Bangladesh, and Italy. The Indian government is implementing a phased export diversification plan, targeting existing markets such as the EU and UK in the short term. Longer-term strategies involve exploring new opportunities in Latin America, Africa, and Eastern Europe.
Indian steelmakers urge government for minimum import price amid global slump
Indian steelmakers are requesting a minimum import price from the government as current safeguard duties prove insufficient amidst falling global prices. Industry executives report that hot rolled coils are trading significantly lower than expected, impacting profit margins. Analysts suggest a balanced approach, considering consumer prices and anticipating stable raw material costs and subdued global demand.
Dedicated Freight Corridor registers 47% increase in train trips in 2024-2025
Freight train operations on the Eastern and Western corridors have increased significantly. There is a 47 percent rise in train trips. Officials say that vacant train trips are about 34 percent of the total. Container products, coal, and miscellaneous items are the top commodities transported. The Dedicated Freight Corridor Corporation of India Limited is taking initiatives for growth.
Trump’s 50% tariffs on India could make your everyday shopping way more expensive - here's how it will impact
Price of Indian goods in US: The US has doubled tariffs on Indian goods to 50%. This move affects food, clothing, and home goods. Shrimp, spices, and clothing prices may rise. US companies are seeking alternative suppliers. India's exports to the US could decline. Pharmaceuticals and smartphones are currently exempt. The tariff is a response to India's purchase of Russian oil.
'Semiconductors are new steel to build India’s eco-tech security': CG Power’s Vellayan Subbiah
Murugappa group company’s chairman Vellayan Subbiah called semiconductors the “new steel,” stressing IP ownership as vital for economic security. Through Axiro Semiconductor and an OSAT plant, the company targets design-led value, ecosystem building, and global competitiveness to strengthen India’s technological autonomy.
Tailored emission targets proposed for steel players
India is set to introduce emission reduction targets for its major steel manufacturers. These goals align with the National Steel Policy 2017. Companies failing to meet targets will face penalties. However, they can offset these with carbon credits. Larger players will have stricter goals. Smaller producers will have moderate targets.
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