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NEW DELHI, Dec 12 (Reuters) - India is weighing imposition of a "safeguard duty", or a temporary tax, on steel, the steel minister, H.D. Kumaraswamy, said on Thursday, as it attempts to rein in a flood of cheap imports from China. The world's second-biggest producer of crude steel, India became a net importer of the alloy in the fiscal year to March 31, with imports surging to a seven-year high during the first seven months of the current financial year. The ministry has sought imposition of 25% safeguard duty or a temporary tax for two years on flat-steel products to curb cheap Chinese imports, Reuters reported last week. "The process for considering safeguard duty is on," Kumaraswamy said on the sidelines of an event in New Delhi, the capital. Finished steel imports from China reached an all-time high during the period from April to October, and the steel ministry warned the trade ministry last month against "a looming threat" of a huge increase in cheap imports from the giant neighbour. The flood of cheap Chinese steel has pushed India's smaller mills to scale down operations and consider job cuts, as the South Asian nation joins a growing list of countries contemplating action to stem imports. However, demand has been strong, with consumption of finished steel reaching a seven-year high during the period from April to October. Reporting by Neha Arora in New Delhi; Editing by Sonia Cheema and Clarence Fernandez Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:India
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
July 14 (Reuters) - India's annual retail inflation (INCPIY=ECI), opens new tab slowed to a more than six-year low of 2.10% in June, near the lower range of the central bank's tolerance band, as food prices continued to ease, making a case for further interest rate cuts. Inflation was lower than the 2.5% estimated by economists in a Reuters poll. Retail inflation was at 2.82% in May. COMMENTARY: GAURA SEN GUPTA, CHIEF ECONOMIST, IDFC FIRST BANK, MUMBAI "The moderation in inflation is led by a decline in food inflation. Core inflation remains range-bound at 4.5%. The outlook for inflation r ...Read More >
Dantewada (Chhattisgarh) [India] July 15 (ANI): The tribal-dominated Dantewada district is all set to make its footprint visible in the high-octane sport of Thai Kick Boxing, as young athletes here have clinched medals in international as well as national events. With the support of the Chhattisgarh Government, the youth of Dantewada are sharpening their skills and preparing for Thai Kick Boxing events to be held in the country and overseas. As Dantewada moves on the path to becoming a hub for producing Thai Kick Boxers, the district is also ready to shed its infamous identity that emerged du ...Read More >
NEW DELHI (Reuters) -India's iron ore imports are expected to rise this year, driven by increased demand from JSW Steel, the country's largest steelmaker by capacity, as falling global prices make overseas purchases more attractive, traders and analysts said. "We expect this year's iron ore imports to be around 8-10 million metric tons, largely by JSW Steel," said Dhruv Goel, chief executive of commodities consultancy BigMint. India's iron ore imports totalled around 6 million tons last year, with JSW Steel accounting for most of them, Goel said. A drop in global prices to below $90 per met ...Read More >
NEW DELHI (Reuters) -An Indian court rejected on Monday a plea by Turkey-based Celebi against a government order revoking the security clearance of the firm to provide aviation ground services in the South Asian nation, three lawyer sources said. Turkey came out in support of Pakistan during its military conflict with India in May, angering many Indians and prompting New Delhi to cancel Celebi's clearance in the "interest of national security". Celebi Airport Services India, in a May 16 filing seen by Reuters, asked the Delhi High Court to set aside that decision, arguing it would impact 3,7 ...Read More >
July 14 (Reuters) - India said on Monday it has achieved 50% of its installed electricity capacity from non-fossil fuel sources -- five years ahead of its 2030 target under the Paris Agreement, signalling accelerating momentum in the country's clean energy transition. WHY IT'S IMPORTANT The announcement comes as India's renewable power output rose at its fastest pace since 2022 in the first half of 2025, while coal-fired generation declined nearly 3%. Fossil fuels still accounted for over two-thirds of the increase in power generation last year. India plans to expand coal-fired capacity by ...Read More >
NEW DELHI (Reuters) -Trade talks between Indian and U.S. officials have been extended into next week as both sides seek consensus on tariff cuts in the farming and auto sectors, aiming to finalise an interim deal before a July 9 deadline, Indian government sources said. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) held two days of discussions in New Delhi with Indian trade officials headed by chief negotiator Rajesh Agrawal, the sources said. "The two countries are actively engaged in focused discussions to facilitate greater mark ...Read More >
NEW DELHI - An Indian court rejected on Monday a plea by Turkey-based Celebi against a government order revoking the security clearance of the firm to provide aviation ground services in the South Asian nation, three lawyer sources said. Turkey came out in support of Pakistan during its military conflict with India in May, angering many Indians and prompting New Delhi to cancel Celebi's clearance in the "interest of national security". Celebi Airport Services India, in a May 16 filing seen by Reuters, asked the Delhi High Court to set aside that decision, arguing it would impact 3,791 jobs a ...Read More >
NEW DELHI, July 8 (Reuters) - The United States has restored $6.8 million in funding for Tibetans in South Asia, the U.S. State Department told Reuters on Tuesday, confirming comments by Tibet's government-in-exile. The aid had been cut by President Donald Trump's administration as part of its "America First" policy that hit a number of programmes, including those aimed at securing food and preventing the spread of HIV in some of the world's poorest regions. Last week, the leader of the Tibetan government in-exile in India, Penpa Tsering said Tibetans became "collateral damage" in U.S. forei ...Read More >
NEW DELHI, June 2 (Reuters) - India's key iron ore producer NMDC (NMDC.NS), opens new tab is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-run NMDC, which sells its output locally, currently releases monthly iron ore prices linked to inventories, international prices and domestic market dynamics. The company plans to launch the new formula after initial trials, the source said, declining to be identified as the plan is not public yet. "We are taking bab ...Read More >
The US is reportedly working towards an interim trade deal with India, potentially setting tariffs below 20%, a favorable position compared to other Asian nations. This arrangement allows for continued negotiations, aiming to resolve outstanding issues before a broader agreement expected this fall. The US is working toward an interim trade deal with India that may reduce its proposed tariffs to below 20%, people familiar with the matter said, putting the South Asian nation in a favorable positio ...Read More >
Amritsar (Punjab) [India], July 15 (ANI): The Golden Temple in Punjab's Amritsar received another bomb threat on Tuesday. The dog squad has been deployed at the Golden Temple premises as part of a security check. The holy site for Sikhs received a bomb threat via e-mail for the second consecutive day. Also Read | India Raises Pahalgam Terror Attack at SCO Meeting: EAM S Jaishankar Calls for 'Uncompromising Position' on Combatting Terrorism. Pratap Singh, Secretary of the Shiromani Gurdwara Parbandhak Committee (SGPC), demanded strict action against the miscreants. Pratap Singh told reporte ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
New Delhi, July 6 (UNI) The Indian government today stated it has not sought blocking of news agency Reuters' X account and said the withholding of the account was a "mistake" on the part of the micro-blogging site The Indian government's comments came in response to a notice shown on the Reuters' X account in India that it had been withheld in response to a legal demand. Denying they have made any such demand lately, a government official said a detailed explanation has been sough from X. "An order had been issued by us during Operation Sindoor. But X has implemented it now, which is a mis ...Read More >
July 10 (Reuters) - The Indian markets regulator's ban on Wall Street trading giant Jane Street has squeezed volumes in the country's options market, but traders expect activity to snap back as larger investors step in. The Securities and Exchange Board of India (SEBI) on July 4 barred Jane Street from trading and froze $567 million of its funds for manipulation of stock indexes through derivative positions. Jane Street told staff it plans to challenge the order, calling the trades in question "basic index arbitrage." Since the order, index options premium turnover on the NSE and BSE exchang ...Read More >
Imphal, June 7 (UNI) Three militants were nabbed in separate incidents during the last 24 hours in Manipur, police said on Saturday. Manipur Police arrested a militant from Moidangpok Awang Leikai from Khumbong Bazar under Imphal West District, they said. Security forces arrested a militant from the Elangkhanpokpi Mayai Leikai area under Kakching district. Security forces apprehended a militant from Wangoo Samushang in Bishnupur district and elected members from Kumbi area. In an operation, one M16 rifle, one bolt-action rifle, three pull-mechanism rifles, three improvised mortars, and fiv ...Read More >
July 4 (Reuters) - India's benchmark equity indexes are expected to open largely flat on Friday as investors assess the market regulator's move to bar U.S. trading company Jane Street from the local securities market over alleged manipulation. The Gift Nifty futures was down 0.2% at 25,516 points, as of 8:14 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will hover around its previous close of 25,405.3. The Securities and Exchange Board of India (SEBI) has passed an interim order on Jane Street's alleged manipulation through positions taken in equities derivatives. The regula ...Read More >
Amaravati: Andhra Pradesh IT and Human Resources Development Minister Nara Lokesh on Friday hailed the successful implementation of the state-wide 'Mega Parent-Teacher Meeting (PTM) 2.0' programme. Expressing gratitude to all stakeholders, he credited the collective efforts of government and private schools, colleges, education officials, staff, headmasters, teachers, students, parents, donors, alumni, public representatives, and officers from various departments for making the event a success. ...Read More >
BENGALURU, July 17 (Reuters) - Indian private lender Axis Bank (AXBK.NS), opens new tab reported a surprise drop in first-quarter profit on Thursday, as it set aside more funds for potential bad loans and as its lending margin contracted. The standalone net profit at India's fourth-largest private lender by market capitalisation fell 4% to 58.06 billion rupees ($674.8 million) for the quarter ended June 30 from 60.35 billion rupees a year earlier. Analysts had expected a profit of 63.73 billion rupees, as per data compiled by LSEG. Its net interest income, the difference between interest ear ...Read More >
July 17 (Reuters) - Futures tracking the Nasdaq and the S&P 500 rose on Thursday, as strong results from Taiwan's TSMC boosted chipmakers after a rollercoaster session marked by concerns about the Federal Reserve's independence. At 5:45 a.m. ET, Dow E-minis were down 24 points, or 0.05%, S&P 500 E-minis were up 5.75 points, or 0.1%, and Nasdaq 100 E-minis were up 41.25 points, or 0.18%. U.S. chipmakers rose in premarket trading after TSMC (2330.TW), opens new tab, the world's main producer of a ...Read More >
Dec 3 (Reuters) - India's top renewable energy agency said on Tuesday it withdrew its ban prohibiting Reliance Power (RPOL.NS), opens new tab from participating in tenders for clean energy projects after a court directive. Last month, the Solar Energy Corporation of India (SECI) had barred Reliance Power from bidding for its tenders for three years and was weighing criminal proceedings against the company after a bank guarantee turned out to be a fake endorsement. The High Court of Delhi had granted a stay last week on the notice of debarment after the Anil Ambani-owned company challenged th ...Read More >
July 4 (Reuters) - India's market regulator said it had barred global fund Jane Street from accessing the nation's securities market, after an investigation into alleged market manipulation. The Securities and Exchange Board of India (SEBI) posted an order on its website dated July 3 outlining that Jane Street would no longer be able to participate in the domestic securities market. Jane Street did not immediately respond to a request for comment from Reuters. SEBI said it would 'impound' 48.4 billion rupees ($566.71 million) which it said was the 'unlawful gains earned' from the alleged mi ...Read More >
NEW DELHI, Dec 12 (Reuters) - India's steel ministry on Thursday announced a formula for defining 'green steel,' classifying it under three categories based on the quantity of carbon emissions per metric tonne of the alloy produced. Steel produced with carbon dioxide emissions of less than 2.2 tonne per tonne of finished steel would be defined as "green steel," a ministry presentation released in New Delhi showed. Steel produced with emissions below 1.6 tonnes per tonne of alloy would be classified as "five-star green-rated steel," the cleanest of the three. Meanwhile, steel produced with e ...Read More >
NEW DELHI, May 23 (Reuters) - India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan to its "grey list", a top government source in New Delhi said on Friday. Pakistan was taken off the FATF grey list in 2022, boosting its reputation among lenders - which is essential for the crisis-hit economy. India will also oppose upcoming World Bank funding for Pakistan, amid renewed tensions between the two nuclear-armed neighbours, the government source said. Reporting by Aftab Ahmed, writing by Shilpa Jamkhandikar; Editing by Aidan Lewis ...Read More >
June 5 (Reuters) - The founding firms of India's Bajaj Finserv (BJFS.NS), opens new tab will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment (BJAT.NS), opens new tab, will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said. The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday. ...Read More >
MUMBAI, June 6 (Reuters) - The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a third consecutive reduction, as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate (INREPO=ECI), opens new tab to 5.50%. It has now cut rates by 100 basis points in 2025, starting with a quarter-point reduction in February, its first cut since May 2020. It made a similar-sized cut in April. Inflation ha ...Read More >
July 4 (Reuters) - Shares of India's Trent (TREN.NS), opens new tab fell more than 7% in morning trade on Friday, after the Tata-owned retailer's near-term growth forecast at its annual general meeting fell short of investor expectations. Shares of Trent were the top percentage losers in the benchmark Nifty 50 (.NSEI), opens new tab index, which was largely flat on the day. "During their commentary, the management mentioned the growth trajectory for Q1FY26, which seems to be underwhelming given the high expectations based on the past track record of growth," said Nuvama Institutional Equitie ...Read More >
NEW DELHI (Reuters) -The United States has restored $6.8 million in funding for Tibetans in South Asia, the U.S. State Department told Reuters on Tuesday, confirming comments by Tibet's government-in-exile. The aid had been cut by President Donald Trump's administration as part of its "America First" policy that hit a number of programmes, including those aimed at securing food and preventing the spread of HIV in some of the world's poorest regions. ...Read More >
Chennai: Madras high court has clarified that private self-financing medical colleges are required to pay only a stipend, and not a full salary, to in-service govt doctors pursuing postgraduate or super-specialty courses under the govt quota.A division bench of Justice R Subramanian and Justice K Surender passed the order while partly allowing a batch of appeals moved by Karpaga Vinayaga Medical College and others. They challenged a single judge's order that directed private colleges to pay salaries to in-service doctors studying in their institutions.The appeals were moved based on a GO dated ...Read More >
A young woman named Oleti Pushpa (22) was killed by her live-in partner Sheikh Shamma (22) in the Ambedkar Konaseema region of Andhra Pradesh, reported India Today. She was living with Sheikh for the past 6 months after she separated from her spouse. The incident took place in Siddhartha Nagar, B Savaram village of Rajolu mandal on 16th July. Shamma reportedly accused Pushpa of having affairs with other men. He forced her to engage in prostitution and frequently instigated fights with her when intoxicated. As per police, Shamma was addicted to ganja. On the fateful night, he against pressuri ...Read More >