India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Investing.com -- India has imposed anti-dumping duty on certain steel shipments from Vietnam, according to a Wednesday notification from the Ministry of Commerce and Industry. The duty targets hot-rolled flat products of alloy or non-alloy steel from the Southeast Asian nation. This action follows a year-long investigation that began in August 2024, which examined potential threats and injury to India's domestic steel sector. "Domestic steel industry has suffered injury as a result of dumped imports," the ministry stated in its notification. "The injury margin is positive and significant." The ministry also warned of further threats to local steel mills if anti-dumping duties are not extended to other select goods from Vietnam. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47-Year-Old Man Dies by Suicide After Failing to Arrange Funds for Son's Engineering College Admission. ...Read More >
Kolkata: Shyam Metalics and Energy Limited (SMEL) is targeting a 2.5 times increase in revenue to reach Rs 40,000 crore by 2031, driven by capacity expansion, product mix enhancement and export diversification. One of India's leading integrated metal producers, SMEL also aims to expand its aggregate capacity from 15 million tonnes to 27 million tonnes in the next six years, the company said in a BSE filing on Thursday."The growth programme is expected to create over 10,000 new direct and indirect jobs, taking total employment to around 27,500, while also doubling export revenues from $150 mill ...Read More >
India's outlook remains robust. The country recorded 8 per cent steel demand growth in 2024 and is expected to grow more than 7 per cent in 2025. India is expected to emerge as a major growth centre for global steel demand over the coming decades, even as China's dominance wanes. China, which accounted for 49 per cent of world steel consumption in 2024, is projected to see demand fall by an average of five to seven million tonnes (Mt) annually over the next decade. China's share of global demand is forecast to fall sharply to 31 per cent by 2050. India, by contrast, is expected to nearly tri ...Read More >
New Delhi, Dec 12 (PTI) The government on Thursday came out with the definition of green steel and asked the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products. Union Steel Minister H D Kumaraswamy also released a 'taxonomy on green steel' with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The steel industry has been the backbone of India's industrial growth and it is imperative that this vital sector undergoes a transformative shift towards ...Read More >
Chennai: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports. Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to capacity utilisation of domestic steel mills dropping from 85 per cent in FY2024 to an estimated 78 per cent in the current fiscal, the lowest we have seen in the last four years. The domestic steel industry witnessed an all-time high ...Read More >
New Delhi, Jul 2 (PTI) Tata Steel is confident of completing its transition to green steel manufacturing in the UK and Netherlands as per schedule, the company's Chairman N Chandrasekaran said on Wednesday. He made the remarks while addressing the shareholders at the company's 118th Annual General Meeting (AGM). Also Read | Iran's President Masoud Pezeshkian Approves Law to Suspend Cooperation With IAEA Following Israel, US Strikes. "...we remain confident that the transition to green steel making in the UK and the Netherlands will happen as per our plans, in the next few years," Chandrasek ...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 >
Bhubaneswar, Aug 19 (PTI) Odisha Chief Minister Mohan Charan Majhi on Monday said that South Korean steel major POSCO is all set to establish a 6 MTPA green field project in the state's mineral-rich Keonjhar district in a joint venture with the JSW Group. Welcoming the return of POSCO to the state, Mjahi said the JSW CEO met him during the day and confirmed that their plant will be set up in Keonjhar, the CM's home district. In 2005, POSCO signed an MoU with the Odisha government to set up a steel plant in Jagatsinghpur district at an initial investment of Rs 52,000 crore. However, the proje ...Read More >
Bhubaneswar: Union Minister for Steel and Heavy Industries H D Kumaraswamy on Thursday inaugurated a two-day workshop (Chintan Shivir) in Bhubaneswar for an intensive dialogue on the future of India's steel industry. In his address, Kumaraswamy expressed gratitude to Prime Minister Shri Narendra Modi for his strategic leadership, guiding the domestic steel industry on a path of resilience and growth. He underlined the pivotal role of the steel sector in nation-building and reiterated the government's commitment to strengthening capacity, fostering innovation and promoting self-reliance. He a ...Read More >
Bhubaneswar: Jindal Steel has successfully commissioned its 250 MT Basic Oxygen Furnace (BOF) converter at the Angul integrated steel plant, adding 3 MTPA of crude steelmaking capacity. With the first heat now tapped, the company's total capacity at Angul has increased from 6 MTPA to 9 MTPA -- bringing the plant closer to its goal of achieving 12 MTPA within the current financial year. The synchronised commissioning of Blast Furnace 2 and the BOF converter marks a significant milestone in India's journey toward steel self-reliance. This integrated flow into downstream mills ensures a steady s ...Read More >
New Delhi, Nov 7 (SocialNews.XYZ) India and the European Union (EU) had a week-long discussion as part of the ongoing effort for a comprehensive and balanced trade agreement, the Ministry of Commerce and Industry said on Friday. A team of negotiators from the EU visited India to have a comprehensive discussion on the proposed free-trade agreement (FTA). "A senior team of negotiators from the European Union (EU) visited New Delhi from November 3 to 7, 2025, for negotiations with Indian counterparts on the proposed India-EU Free Trade Agreement (FTA)," the ministry said in a statement. The we ...Read More >
India and the European Union are advancing free trade agreement negotiations. Key tariff issues are seeing good progress. An EU delegation will visit New Delhi soon to finalize technical tariff discussions. Both sides aim for a robust and balanced agreement. This pact is expected to bring the economies closer and foster mutual benefits. Commerce and industry minister Piyush Goyal Tuesday said his talks with the EU have "significantly reduced our outstanding issues" and laid the foundation for a ...Read More >
NEW DELHI, April 9 (Reuters) - India's steel mills aim to cut carbon emissions by about a quarter over the next decade and reduce reliance on coal, while the world's second-biggest producer of the alloy plans to more than double output, according to a document seen by Reuters. Under the proposed "National Steel Policy 2025", India aims to cut emissions from steel mills to 2 metric tons of carbon dioxide per ton of finished steel by 2035-36, according to a draft cabinet note dated March 10, reviewed by Reuters. The new emissions reduction target has not been previously reported. Steelmakers ...Read More >
Tata Steel is bolstering its iron ore supply for its planned 40 MTPA steel production by 2030. With four mine leases expiring in 2030, the company is operationalizing two new mines and negotiating with NMDC and OMC for additional ore. These strategies aim to secure the over 60 MT of iron ore required for the expanded steel capacity.Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its dome ...Read More >
(Bloomberg) -- The US is investigating whether Waaree Energies Ltd., India's largest solar panel maker, evaded anti-dumping and countervailing duties on solar cells from China and other Southeast Asian nations. US Customs and Border Protection has started a formal investigation of Waaree and Waaree Solar Americas Inc. and imposed interim measures because there is reasonable suspicion the company evaded duties when bringing merchandise into the US, according to a public notice by the agency obtai ...Read More >
RAIPUR: At least six persons were killed and six injured including two critically, in a tragic industrial accident at a private steel factory in Chhattisgarh capital on Friday evening. The incident occurred at Godavari Ispat Ltd. plant located in Siltara industrial area in Dharsiwa region of Raipur, Raipur SSP Lal Umed Singh told TOI. He said that a heavy structure of a ceiling collapsed during maintenance inspection, trapping workers underneath. The rescue operation is still underway and the cas ...Read More >
New Delhi, Oct 21 (PTI) India's eight key infrastructure sectors' output stood at 3 per cent in September, slower than the 6.5 per cent expansion recorded in August, according to official data released on Tuesday. The core sectors' output growth was 2.4 per cent in September last year. In September this year, these eight sectors recorded the lowest growth in the last three months due to a fall in the output of coal, crude oil, refinery products and natural gas. The growth rate in the productio ...Read More >
New Delhi, June 29 (SocialNews.XYZ) The Indian cement sector reached 39.6 million metric tonnes (MT) in May, recorded a strong 9 per cent year-on-year (YoY) growth in volumes, according to a new report. The positive trend continued in the first two months of FY26, with volumes rising 8 per cent YoY to 78.7 million MT, according to the report by ICRA. For FY2025, cement volumes grew by 6.3 per cent YoY, totalling 453.0 million MT. ICRA projects a further 6-7 per cent growth in FY2026, with volumes expected to reach 480-485 million MT, driven by sustained demand from the housing and infrastru ...Read More >
New Delhi, Jun 30 (PTI) Jindal Steel on Monday announced commissioning of its first galvanizing line at Angul plant to cater to various industries including appliances, automotive, infrastructure, and construction with increased supply of coated products. The coated galvanizing line 1 (CGL 1) has been installed as part of the ongoing multicrore investment plan at the company's steel manufacturing facility at Angul in Odisha. "The new line will produce galvanised and galvalume products under the Jindal Panther Galvanised and ZINKALUME brands, catering to various industries including appliance ...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 three-year safeguard duty on steel imports, initiated by DGTR due to increased imports and declining domestic profits, faces strong opposition. GTRI's report suggests this duty could negatively impact auto, engineering, and construction sectors by raising input costs. Stakeholders argue that the duty will harm export competitiveness and create sourcing challenges, despite domestic steelmakers' profitability. The three-year safeguard duty on steel imports by Directorate General of Trade Remedie ...Read More >
Aug 18 (Reuters) - JSW Steel (JSTL.NS), opens new tab and South Korea's POSCO (005490.KS), opens new tab have entered a deal to explore setting up an integrated steel plant in India, the country's largest steelmaker by market capitalisation said on Monday. The steelmakers are yet to finalise the location and its financial details, but flagged that Odisha state is among the key locations being considered for the 6 million tonne per annum (MTPA) capacity plant. Last year, the two companies entere ...Read More >
Angul (Odisha) [India], September 30: Jindal Steel has successfully commissioned its 250 MT Basic Oxygen Furnace (BOF) Converter at the Angul integrated steel plant, adding 3 MTPA of crude steelmaking capacity. With the first heat now tapped, the company's total capacity at Angul has risen from 6 MTPA to 9 MTPA--bringing Angul closer to its goal of achieving 12 MTPA within the current financial year. Also Read | India Women vs Sri Lanka Women Free Live Streaming Online of ICC Women's Cricket World Cup 2025: How To Watch IND-W vs SL-W CWC Match Free Live Telecast in India?. The synchronised c ...Read More >
New Delhi: The Centre on Monday discussed imposing a safeguard duty on steel to protect against cheap imports, steel overcapacity in China and the impact on India if the incoming Trump administration places curbs on steel imports or levies tariffs on the alloy, as well as the issue of stuck steel consignments at ports. The issues were taken up at a meeting between Commerce and Industry Minister Piyush Goyal and Steel and Heavy Industries Minister H D Kumaraswamy. Officials said the steel ministry proposed a 25% safeguard duty on certain steel imports to check the influx of steel without paym ...Read More >
Surat (Gujarat) [India], August 21: KP Group, a leading name in India's renewable energy sector, is stepping up its expansion with a clear goal of reaching 10 GW capacity by 2030. With projects already underway in Gujarat, the Group is working on projects in Rajasthan, Madhya Pradesh, Odisha, Andhra Pradesh and Maharashtra, supported by a strong order book and government partnerships. KP Group has signed memoranda of understanding with Gujarat, Odisha, Rajasthan and Madhya Pradesh for over 2.6 GW of renewable projects, while exploring new opportunities in other states. The Group has already e ...Read More >
New Delhi [India], September 29 (ANI): India's industrial output, measured by the Index of Industrial Production (IIP), recorded a year-on-year growth of four per cent in August 2025, according to data released by the Ministry of Statistics and Programme Implementation on Monday. The growth in August came after the index had risen 3.5 per cent in July 2025. The Quick Estimates of IIP stood at 151.7 in August 2025, higher than 145.8 recorded in the same month last year. Also Read | TCS Layoffs: Employees Claim 'Environment of Fear' With Forced Resignations, Fluidity List; Spokesperson Denies ...Read More >
New Delhi [India], October 26 (ANI): Union Minister of Commerce and Industry, Piyush Goyal, will visit Brussels, Belgium, on October 27-28 to hold high-level discussions with Maros Sefcovic, Executive Vice-President and European Commissioner for Trade of the European Union. The Minister's visit comes at a crucial stage in the ongoing India-EU Free Trade Agreement (FTA) negotiations, as both sides intensify efforts to conclude a comprehensive, balanced, and mutually beneficial trade agreement at the earliest, as per a statement by the Ministry of Commerce & Industry. Building on the momentum g ...Read More >
Synopsis: Shares of this small cap stock surged 8% after Q3 results showed 60% QoQ net profit growth and revenue above Rs. 1,000 cr for the second consecutive quarter, driven by operational efficiency, 4PRO contracts, and automation initiatives. The shares of this company are in the business of manufacturing and marketing special refractory products, systems, and services to the steel industry in India and globally are in the spotlight after it rose by 8% following Q3 results with a 60 percent increase in net profit and revenue crossing Rs. 1,000 crore for the second straight quarter. With a ...Read More >
Visakhapatnam, Apr 1 (PTI) The Rashtriya Ispat Nigam Ltd (RINL) or Vizag Steel Plant (VSP) recorded a strong performance during the financial year 2025-26, achieving significant growth across key production and sales parameters compared to the previous year. VSP Deputy General Manager (DGM) J Mallikarjun Rao said hot metal production reached nearly six million tonnes, up from over 3.9 million tonnes in 2024-25, registering a growth of 52 per cent, while liquid steel output rose to 5.6 million tonnes from 3.7 million tonnes, marking a similar increase. "RINL has achieved significant growth ac ...Read More >
CHANDIGARH: A portion of the frontal section of Congress MLA Sukhpal Singh Khaira's house in Bholath, Kapurthala, was demolished on Monday by the office of the Block Development and Panchayat Officer (BDPO). Khaira, a strong critic of Punjab Chief Minister Bhagwant Mann, condemned the move, calling it the dangerous introduction of "bulldozer (Pila-Panja) politics" in Punjab by Mann under directions from AAP supremo Arvind Kejriwal, aimed at silencing criticism and democratic dissent. As the demolition began, Khaira went live on social media, criticising the state government. Anticipating the ...Read More >