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New Delhi [India], July 20 (ANI): India's tyre sector is set to see steady revenue growth of 7-8 per cent this fiscal, driven by replacement demand that accounts for half of annual sales, even as offtake by original equipment manufacturers (OEMs) will likely be subdued and exports steady, said Crisil Ratings in a report. The report added that the rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese produ ...Read More >
Mangaluru (Karnataka), Jul 19 (PTI) MRPL, a subsidiary of ONGC and a Schedule "A" Mini Ratna Category-I company, on Saturday reported a consolidated net loss of Rs 272 crore for the first quarter of FY 2025-26, compared to a profit of Rs 66 crore during the same period last year. According to a statement from Mangalore Refinery and Petrochemicals Ltd, the company's Board of Directors approved the Q1 financial results at its 270th meeting held on July 18. The results reflect a decline in revenu ...Read More >
Mangaluru (Karnataka), Jul 19 (PTI) MRPL, a subsidiary of ONGC and a Schedule "A" Mini Ratna Category-I company, on Saturday reported a consolidated net loss of ₹272 crore for the first quarter of FY 2025-26, compared to a profit of ₹66 crore during the same period last year. According to a statement from Mangalore Refinery and Petrochemicals Ltd, the company's Board of Directors approved the Q1 financial results at its 270th meeting held on July 18. The results reflect a decline in revenue fr ...Read More >
Gadwal: The Assistant Director of the Handloom and Textile Department, Mr. Govindayya, has announced through a press release that applications are being invited from eligible handloom weavers in the district for enrollment in the Netannala Bharosa Scheme (Weavers' Assurance Scheme). Eligibility Criteria: Only handloom weavers who are actively engaged in their craft on a daily basis and have a Geo-tag Number are eligible. Applicants must be enrolled under the Thrift Fund Scheme (Pothupu Padhak ...Read More >
Amritsar, July 18 (SocialNews.XYZ) Leader of Opposition in Punjab and Congress lawmaker Partap Singh Bajwa, on Friday demanded that Chief Minister Bhagwant Mann immediately convene an all-party meeting in Amritsar to discuss continuing threats to the Golden Temple through threatening emails. Speaking after paying obeisance at Sri Harmandir Sahib, where he was accompanied by Congress MP Gurjeet Singh Aujla, Sukhwinder Singh Danny Bandala and other Congress leaders, Bajwa said that he met with of ...Read More >
Mumbai: JSW Steel Ltd reported better-than-expected profit for the June quarter, driven by higher production and sales volume as well as lower cost of coking coal, a key ingredient. The steelmaker's first-quarter profit jumped to ₹2,209 crore from Rs.867 in the same quarter a year ago, according to the company's exchange filings. A key reason for this was improved steel prices, primarily due to the government's 12% safeguard duty to protect the industry from cheap steel imports from China. "St ...Read More >
Patna: Non-vegetarian dishes have made Bihar's politics spicier on several occasions, and so union minister and senior JD (U) leader Rajiv Ranjan Singh aka Lalan Singh' recent mutton party for party workers and supporters under his Munger constituency was no exception. Lalan Singh listened to problems of common people at Suryagarha in Lakhisarai district of Bihar (part of Munger constituency) to sort them out with local authorities and also threw a mutton party for them, creating a controversy ...Read More >
Chandigarh: To bring in a new industrial policy, Punjab govt has constituted 22 sector-specific committees, which will cover key areas like electric vehicles, renewable energy, food processing, start-ups, and film media.Punjab industries minister Sanjeev Arora said these committees will ensure a structured and collaborative engagement between industry and state govt. Each committee will operate for two years from the date of notification, with the possibility of extension at the govt's discretio ...Read More >
New Delhi, Jul 17 (PTI) Tyre maker CEAT Ltd on Thursday reported a 27.16 per cent decline in consolidated net profit to Rs 112.3 crore in the June quarter, impacted by higher raw material cost. The company, which had posted a consolidated net profit of Rs 154.18 crore in the first quarter last fiscal, said it will invest about Rs 450 crore in the capacity expansion of its Chennai plant. Consolidated revenue from operations stood at Rs 3,529.41 crore in the first quarter as against Rs 3,192.82 ...Read More >
Chennai, July 14 (SocialNews.XYZ) Amid mounting production costs and delayed payments, yarn manufacturers in Tirupur district, Tamil Nadu, have come together to form a new body -- the Tirupur Yarn Manufacturers Association -- in an effort to revive the ailing sector and restore profitability. Tirupur, a major textile hub, is home to over 50 yarn mills that supply to the region's thriving knitwear industry. Despite the rapid growth of both domestic and international knitwear markets, which are ...Read More >
Hyderabad (Telangana) [India], July 12 (ANI): The Centre is trying to make available technology in three to four months to different private factories to ramp up rare earth magnets production in India, said Union Minister for Coal and Mines, G Kishan Reddy. "We used to be 100% dependent on China for permanent magnets of the rare earths. But recently, China has refused to supply. With this view, the Indian government is making efforts for permanent magnet manufacturing," Kishan Reddy told ANI. ...Read More >
Bengaluru - VinFast Auto India, the subsidiary of global electric vehicle manufacturer VinFast, has entered into a strategic agreement with BatX Energies, a leading Indian clean-tech company specializing in battery recycling, rare metal recovery and end-of-life battery repurposing. This partnership lays the foundation for an integrated battery value chain in India, supporting the company's commitment to sustainable electric mobility. Under the agreement, BatX Energies will provide comprehensive ...Read More >
Union Minister H. D. Kumaraswamy confirms an incentive scheme to ramp up domestic rare earth magnet production. Leading companies, including Mahindra & Mahindra, Uno Minda, and Sona BLW Precision Forgings, are eager to invest in local manufacturing facilities to support this strategic push. India has launched a Rs 1,345 crore incentive programme to enhance domestic production of rare earth magnets, aiming to reduce reliance on China. India's initiative responds to China's tightened export contr ...Read More >
New Delhi [India], July 10 (ANI): Union Minister of Commerce and Industry, Piyush Goyal, on Thursday urged the industry to build supply chain resilience by reducing dependence on specific geographies and adopting new technologies to achieve self-reliance in the energy sector. Goyal stressed that India's ambition should encompass the entire value chain--from raw materials and cell components to battery packs, semiconductors, management systems, and recycling, ensuring a robust and self-sustained ...Read More >
NEW DELHI: Indian auto company Mahindra & Mahindra and parts maker Uno Minda are looking to make rare earth magnets locally to cut reliance on China, as New Delhi draws up incentives for production of the critical components, company and government sources told Reuters. China, which produces around 90% of the world's rare earth magnets, put restrictions in April on their export, and while it has restarted some supplies to the United States and Europe, Indian companies are still awaiting clearan ...Read More >
NEW DELHI, July 10 (Reuters) - Indian auto company Mahindra & Mahindra and parts maker Uno Minda are looking to make rare earth magnets locally to cut reliance on China, as New Delhi draws up incentives for production of the critical components, company and government sources told Reuters. China, which produces around 90% of the world's rare earth magnets, put restrictions in April on their export, and while it has restarted some supplies to the United States and Europe, Indian companies are st ...Read More >
New Delhi [India], July 7 (ANI): Growth in India's cement demand will recover to 6.5-7.5 per cent this fiscal (2025-26) after falling to 5 per cent in the recently concluded 2024-25 fiscal, according to a Crisil Ratings report. This, coupled with an uptick in realisations, will lift operating profitability by Rs 100 to a level just above the decadal average, the rating agency asserted in its report on Monday. Healthy accrual coupled with robust balance sheets will keep the credit profiles of c ...Read More >
India Cellular and Electronics Association (ICEA) in a letter to the Ministry of Electronics and IT said that the import restriction has brought in uncertainty in the efforts of industry to scale up domestic electronics manufacturing.Source : Freepik India's electronics manufacturing sector, which has been struggling with China's restrictions on rare earth magnet exports, faces a double whammy with import curbs on gold compound -- a key raw material. Rare earth magnets have diverse utility ran ...Read More >
New Delhi, Jul 5 (PTI) Fast-moving consumer goods (FMCG) makers are expecting their topline growth to be impacted in the June quarter due to headwinds like unseasonal rains, a brief summer span and inflation pressure on key inputs. However, the FMCG industry witnessed a sequential recovery in demand during the quarter, with an uptick in volume growth, particularly in urban markets. Margins of FMCG majors such as Marico, Dabur, and Godrej Consumer remained below the normative level, and they ex ...Read More >
Oil and Natural Gas Corporation (ONGC) collaborates with Japan's Mitsui OSK Lines. They will construct two very large ethane carriers. These carriers will import petrochemical feedstock for ONGC's subsidiary. This move addresses changes in liquefied natural gas (LNG) composition from Qatar. ONGC aims to secure feedstock for its petrochemical plant. Ethane imports are planned to start by mid-2028.State-owned Oil and Natural Gas Corporation (ONGC) has signed an agreement with Japan's Mitsui OSK Li ...Read More >
New Delhi [India], July 4 (ANI): New energy, AI infrastructure and funding from existing energy verticals of Reliance Industries Ltd will be key for the Indian conglomerate's next leg of value creation, Morgan Stanley has said in a report. Besides, consumer vertical multiples of Reliance are also supportive for the value creation, multinational investment bank Morgan Stanley said in its July 3 report. Also Read | 'Chakka Jam' in Bihar on July 9: RJD Leader Tejashwi Yadav Announces Mahagathband ...Read More >
Mumbai: Steelmakers who also mine their own iron ore, such as Tata Steel and Steel Authority of India Ltd (SAIL), are likely to see their margins dip more than their peers as prices of both steel and iron ore are on a downward trend, analysts said. This is because of the fixed costs associated with their mines -- in contrast to players like Jindal Steel and Power Ltd and JSW Steel Ltd -- who buy raw material from third party suppliers, thus exporting a part of the margin squeeze to these vendor ...Read More >
New Delhi/ Angul (Odisha) [India], July 4: Jindal Steel today announced a significant milestone in its strategic growth journey. The Government of Odisha has issued a Letter of Intent (LoI) to the Company for the grant of a 50-year Mining Lease for the Roida-I Iron Ore and Manganese Block, located in Keonjhar District. Spread across 104.84 hectares, this vital mineral resource significantly enhances Jindal Steel's raw material security and underscores its commitment to integrated and sustainable ...Read More >
New Delhi: The commerce ministry's arm DGTR has initiated an anti-dumping probe into the import of polyethylene from Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, the UAE following a complaint by Chemicals and Petrochemicals Association of India. The applicant has alleged that the industry is impacted due to the dumped imports of Linear-Density Polyethylene (LLDPE). It is primarily used in raw materials for the plastic processing industry to make a variety of products such as packaging films, pr ...Read More >
New Delhi, Jul 4 (PTI) The commerce ministry's arm DGTR has initiated an anti-dumping probe into the import of polyethylene from Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, the UAE following a complaint by Chemicals and Petrochemicals Association of India. The applicant has alleged that the industry is impacted due to the dumped imports of Linear-Density Polyethylene (LLDPE). It is primarily used in raw materials for the plastic processing industry to make a variety of products such as packag ...Read More >
New Delhi [India], July 4 : India needs to urgently take steps to reduce its growing dependence on Chinese ... New Delhi [India], July 4 : India needs to urgently take steps to reduce its growing dependence on Chinese imports, according to a recent report by the Global Trade Research Initiative (GTRI). The report recommends reverse-engineering of low- to mid-tech imports, stronger domestic production incentives, and long-term investment in deep-tech manufacturing to strengthen India's economic ...Read More >
BHUBANESWAR: Prime Minister Narendra Modi gifted a handcrafted silver filigree purse from Cuttack to First Lady of Ghana Lordina Mahama during his visit to the country. Meticulously handcrafted by skilled artisans, it features delicate floral and vine motifs formed from fine silver wires, combining airy lightness with durability and elegance. Traditionally used in jewellery, Cuttack's filigree now adorns modern accessories like this purse, blending heritage with contemporary style. PM Modi arr ...Read More >
New Delhi [India], July 4 (ANI): India needs to urgently take steps to reduce its growing dependence on Chinese imports, according to a recent report by the Global Trade Research Initiative (GTRI). The report recommends reverse-engineering of low- to mid-tech imports, stronger domestic production incentives, and long-term investment in deep-tech manufacturing to strengthen India's economic resilience. It also added that the need for this shift has become even more critical as geopolitical tens ...Read More >
China's export restrictions on critical minerals are a wake-up call for India, highlighting the urgent need to reduce reliance on Beijing. GTRI suggests reverse-engineering imports, incentivizing domestic production, and investing in deep-tech manufacturing. India's dependence on Chinese goods, including electronics and batteries, has deepened strategic vulnerabilities, necessitating immediate action.China's export curbs on critical minerals crucial for India's electronics sectors are no longer ...Read More >
New Delhi: Industry body CII Thursday pitched for rationalisation of goods and service tax (GST) rates, reduction in tax litigation, establishment of a joint skills acceleration fund (between public, private and CSR), and introduction of a capital support scheme for small and medium enterprises. New CII President Rajiv Memani said the Indian economy was expected to grow by 6.4-6.7% in FY26, driven by strong domestic demand amid global uncertainties. "We must remember that in all these cases we ...Read More >
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