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The United States has voiced strong opposition, threatening tariffs and other measures. Industry insiders anticipate the regulations will pass, marking a pivotal step in global decarbonization efforts. View More

The world’s shipping regulator is on the verge of green-lighting a global charge on the industry’s emissions, something that has prompted the Trump administration to threaten tariffs in response. The International Maritime Organization will this week decide on sweeping new rules to make the sector start paying for the more than 1 billion tons of greenhouse gases it emits each year. While a draft plan had wide support in April, the US has called it a “global carbon tax” on Americans, and has said it would consider measures such as tariffs and port levies. The IMO plan has been years in the making, and adopting it would be a win for multilateral climate regulations in the face of tariff threats and wider blows to environmental progress ahead of next month’s COP30 climate summit in Brazil. For shipping, it would pave the way for the end of oil as the dominant fuel — benefiting cleaner options like ammonia — while initially potentially raising over $10 billion a year, contributing to costs that could ripple through supply chains. Bloomberg While final adoption isn’t guaranteed amid opposition from Washington, industry insiders expect it to pass. If there’s no consensus, a two-thirds majority vote in favor would be enough for it to go ahead. A representative from the International Chamber of Shipping — which covers over 80% of the world’s merchant fleet and therefore a vast chunk of global trade — anticipates the levy passing. So does Edmund Hughes, a onetime official at the IMO involved in environmental regulation. Boston Consulting Group studied April’s vote and which nations stand to benefit from the plan, and also expects the regulations to be adopted. “This is a defining moment for the industry and a pivotal step forward in global decarbonization efforts,” BCG partner Peter Jameson said. “While some parties may seek to slow or complicate the process through political pressure, that will not be enough to change the outcome.” Live Events Bloomberg US Defiance The US has sharply criticized the plans from “an unaccountable UN organization,” and is sending a delegation to this week’s meeting in London. Last week, Washington again urged other governments to reject the regulations that it said could have “disastrous” economic impacts, saying some estimates are for shipping costs to jump as much as 10% or more. On Friday, the State Department said it was exploring options including tariffs. The same day, it issued a separate statement saying that visa restrictions, sanctions on officials, and commercial penalties are among responses it’s considering against nations that support the rules — though didn’t mention tariffs. In response to follow-up questions from Bloomberg this week, it didn’t confirm or deny if tariffs remain on the table as part of options it would consider. The regulation would raise costs for everyone and risks “becoming a global environmental slush fund at the expense of the shipping industry and its customers,” a representative for the US said Tuesday in a speech at the meeting, which is due to continue this week. Multiple countries, including the UK and Netherlands, expressed their support for the framework at the gathering. Bloomberg Any levies would be another worry for global trade, on top of President Donald Trump’s so-called reciprocal tariffs ranging from 10% to 50% on imports from major trade partners. He has also aimed duties at sectors deemed vital to national security like automobiles, steel and aluminum, and plans to hit others including semiconductors, pharmaceuticals and industrial machinery. The rhetoric between Beijing and Washington has heated up in recent days, with both sides threatening tougher trade barriers if the other side doesn’t reduce some of theirs. “It would be foolish to underestimate the US’s power,” said Faig Abbasov, director of shipping at non-governmental organization Transport & Environment. Adopting the IMO plan would represent a rare bright spot in recent international climate diplomacy and regulation. The Trump administration has been dismantling its domestic climate policy and attempting to disrupt efforts to cut emissions globally. Companies have also ditched climate commitments over the past year as the reality of meeting ambitious time frames becomes clear and the marketing benefits of having green credentials fade. New Rules The planned rules would force vessels above 5,000 gross tons to curb their emissions intensity in line with two trajectories: A “base” target and a tougher “direct compliance” target. If a ship hits the base target but not the stricter one, it will be effectively charged $100 a ton for what it missed. Failing to meet even the base target will incur a steeper penalty of $380 a ton, in addition to the $100-a-ton charge for the difference between the two benchmarks. The money will go into a fund that will disburse the revenue in multiple ways, including rewards for vessels using low-emission fuels. The regulations would come into effect in 2027, though payments wouldn’t need to start until 2029. The industry accounts for over four-fifths of the world’s trade and more than 1% of all emissions, and the IMO wants international shipping to reach net zero by around mid-century. The push will need big changes to the fuel-supply chain, with shippers having to use cleaner fuels that are pricier than traditional oil, or paying for missing targets. The IMO’s framework is the world’s first global, fixed charge on emissions for any industry, according to Sola Zheng, a senior researcher at the International Council on Clean Transportation. While aviation has a similar mechanism, which becomes mandatory from 2027, it involves airlines buying offsets, for which there is no fixed cost. Enforcement One question is how the charges will be enforced if any countries pull out of the main treaty governing ships’ air pollution. Even if a flag state — the nation where a vessel is registered — doesn’t enforce the regulations, a ship flying that flag would still be subject to port state controls when in countries abiding by the rules, said Tore Longva, a decarbonization director at classification society DNV. In theory, such a vessel could only sail domestically unless it voluntarily complied with the regulations. “It is massive,” said Hughes, the former IMO official who’s a director at Green Marine Associates Ltd. “So much effort has gone into getting to this point — I cannot see wholesale changes of positions.” Add as a Reliable and Trusted News Source Add Now!

This approach aims to naturally nourish the population, improving health outcomes and potentially transforming India's food system by 2030. View More

India has achieved impressive results in food production, yet it still suffers a serious malnutrition problem. In the 2025 Global Hunger Index , India is now in 105th place and hunger in the nation is still considered 'serious'. About 15% of South Africans do not get enough to eat. Nearly 20% of children under five have wasted bodies and 35% are stunted, reflecting that our way of nourishing people is not adequate. The main problem isn’t the supply of food. The problem is that what we produce doesn’t match what our bodies require. A lot of this unequal situation comes from India’s first Green Revolution. As we solved our food shortages with large wheat and rice production, the farming process became focused on making more, rather than making better produce. We encouraged farmers to grow more or less food and our agricultural policies nearly completely ignored giving micronutrients other than calories. Over time, this led to a food system that could feed more mouths but left many bodies undernourished. What If Your Food Was Grown to Nourish You? That’s why biofortification is so important. Live Events Biofortification aims to increase nutrition in the crop from the start, making it easier for crops to draw in key nutrients using better agronomic techniques and seeds. It isn’t biotech. It isn’t manufactured in laboratories. Genetic science guides this approach to boosting the iron, zinc and protein found in wheat, rice and millets. How different would it be if the roti your child ate every single day was packed with twice the iron? If you remained healthy without taking supplements, as your daily dal had the zinc you needed. Where India Stands Now The good news? India isn’t starting from zero. So far, ICR and other institutions have created 150 different types of biofortified crops. Now, the government is using them in programs like the Mid-Day Meal Program. Zinc wheat grown in Haryana and Maharashtra’s iron-rich bajra have become good examples of pilot successes. Lately, biofortified foods are becoming of public interest. Several famous individuals have spoken out in support and a young company promoting biofortified staples was featured on Shark Tank India - making this nutrition trend more widely known across the nation. Because of these moments, there is now more talk about food and it’s clear the industry is evolving. Quick validation is different from reaching a huge number of users. Farmers in most cases wonder: “Will this yield more?” Kirana shops are still uncertain about whether or not an item will move. Even now, the mother keeps thinking: “Will this taste the same?” Redefining the Wellness Plate Biofortified foods should not be thought of as only for the rich. They are regular grains that give you extra. After so many protein powders and artificial products, these offer a chance for people to choose more natural foods, ones still supported by science. This won’t fix all our problems by itself. But, it is known to work effectively. If done properly, biofortification can decrease anemia risks, boost brain health in kids and boost their school performance. What really captures my interest is that this space isn’t limited to a single direction. This work links together agriculture, health, policy ,and culture. What We Must Do (Now) Make farmers the heroes of the nutrition story. Reward them for growing better, not just more.Bridge science and tradition. Match regional dietary preferences with locally adapted nutrient-rich varieties.Reframe how we talk about food. From shelf-life and yield to micronutrient density and impact.Involve entrepreneurs and brands that can translate these grains into products people actually buy, cook, and love. 2030: The Wellness Future We Deserve If we stay the course, biofortified staples won’t be in niche aisles - they’ll be in ration shops and wedding buffets. They’ll be the new normal. And maybe, just maybe, our nutrition numbers will finally match our production numbers. Because the future of food is not just about feeding India. It’s about nourishing India. The author is Co-founder & CEO of Better Nutrition. Add as a Reliable and Trusted News Source Add Now!

Metal producers are set for a mixed September quarter. Ferrous companies anticipate weaker margins due to falling steel prices and rising raw material costs. Conversely, non-ferrous producers are expected to see stronger earnings, driven by a rebound in aluminium, zinc, and copper prices. View More

ET Intelligence Group: Metal producers are expected to deliver a mixed performance in the September quarter. Ferrous companies are likely to report weaker margins amid falling steel prices and higher raw material costs. On the other hand, non-ferrous producers are expected to post stronger earnings on the back of a rebound in prices of aluminium, zinc and copper. Domestic hot-rolled coil (HRC) prices declined by ₹2,200 per tonne quarter-on-quarter to ₹49,500 per tonne in the second quarter of the current fiscal year, primarily driven by seasonal weakness, according to Motilal Oswal Financial Services . Average primary rebar prices fell by ₹7,300 per tonne sequentially to ₹48,000 per tonne due to muted construction demand amid the heavy monsoon season. "We expect realisations of ferrous companies to dip sequentially by ₹2,500-3,000 per tonne for the September quarter," said the broker in a report. During Q2FY26, domestic steel prices decreased by ₹2,223 per tonne due to slowdown in the consuming sectors amid seasonality which will impact margins. Kotak Institutional Equities estimates margins for steel companies to sequentially decrease by ₹2,800 per tonne on average in the second quarter. Elara Capital expects operating margin before depreciation and amortisation (Ebitda margin) to contract for majority of the steel makers. "Ebitda per tonne for most firms in Elara Steel universe should contract sharply, plunging around ₹1,215-6,700 sequentially except for Tata Steel , which may report an improvement of around ₹250 in Ebitda per tonne," the broking firm noted in a preview report. Live Events Steel companies also faced higher input cost during the quarter as average coking coal prices increased by 4% sequentially, while domestic iron ore prices increased by 2% to an average of ₹7,504 per tonne. In contrast to the ferrous metal producers, non-ferrous metal companies are likely to post stronger earnings, supported by higher global prices during the quarter. Prices of aluminum, zinc, and silver rose by 19%, 7.7%, and 7.5% from the previous quarter, respectively in US dollar terms aided by a weaker greenback, according to Kotak Institutional Equities. Aluminium prices improved in the September quarter even though raw material prices were lower-spot alumina price fell to $336 per tonne from a peak of $660 per tonne in the March quarter while Richard Bay Index, a key indicator of thermal coal prices moderated to at 85 from 90 in the previous quarter. This is likely to boost Ebitda margins of the non-ferrous producers for the September 2025 quarter, noted JM Financial Institutional Securities in a report. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The Centre has classified all limestone as a major mineral, removing end-use distinctions and mandating auctions for all mines. This move aims to simplify business operations and promote ease of doing business by eliminating end-use restrictions for leaseholders. Existing minor mineral limestone leaseholders must register with IBM by March 2026. View More

The centre has notified limestone as a major mineral, effectively barring state governments from allocating its blocks. An official statement said limestone had an end-use-linked dual classification as a minor and major mineral. ‘Limestone used in kilns for manufacture of lime used as building material’ had been notified as a minor mineral. Otherwise, it was a major mineral when used for any other purpose like production of cement, chemicals, sugar, fertilizer, and steel. The Mines Ministry has now removed end use distinction, the statement added. “This move will mandate auction of all limestone mines in the country,” a senior official told ET. India is the third largest producer of limestone, clocking 449.58 million tonnes output in 2024-25. Limestone is also the most produced mineral in the country by volume. Rajasthan is the leading producer of this mineral in the country, accounting for a fifth of total production. "Use of limestone in making lime has significantly reduced over the years and most of limestone is now used in cement manufacturing and in chemical industries, smelters, fertilizer unit, sugar factory,” the mines ministry said adding the classification of all types of limestone as major mineral will promote ease of doing business as the lease holders will be able to sell or utilise limestone for any purpose, without any end-use restrictions . Existing lease holders of minor mineral limestone need to register with the Indian Bureau of Mines ( IBM ) by March 2026 and pay royalty as specified by the respective State Governments, the statement said. The ongoing approved mining plans will be good till March 2027. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Jindal Stainless is excited to unveil its cutting-edge stainless steel salt tipper trailers, designed to address the persistent issues of corrosion and upkeep in salt logistics. With strong interest expected from major salt-producing territories, this advancement heralds a new era of safer and greener transport solutions. View More

Jindal Stainless has launched a new range of stainless steel salt tipper trailers to address the long-standing issues of corrosion and high maintenance in salt transportation. The company expects strong demand from salt-producing regions, such as Sambhar, Nawa and Kuchaman in Rajasthan . "This will help make salt logistics safer, more sustainable, and cost-efficient," Abhyuday Jindal, Managing Director, Jindal Stainless, said. The new trailers offer enhanced durability, reduced maintenance costs and a longer service life compared to conventional mild steel trailers, which typically corrode within 3-4 years. According to Jindal, the stainless steel trailers are up to 25 per cent lighter with an estimated cost saving of Rs 25-30 lakh over a 10-year period. The expected service life of the trailers is between 15 and 20 years. Live Events He said that industry estimates indicate that India's trailer truck market sees an annual demand of around 70,000 units. Add as a Reliable and Trusted News Source Add Now! "To support production and adoption, the company is working with certified fabricators and ITI-trained professionals," he added. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Vedanta Limited's acquisition of Jaiprakash Associates Limited has received approval from the Competition Commission of India. This marks a significant step in Vedanta's Rs 17,000 crore bid. Vedanta emerged as the highest bidder for Jaiprakash Associates, which operates in cement, real estate, and infrastructure. The deal involves an upfront payment and subsequent annual installments. View More

The Competition Commission of India (CCI) on Tuesday approved Vedanta Limited ’s proposed acquisition of debt-laden Jaiprakash Associates Limited (JAL), marking a key step in the company’s Rs 17,000 crore bid under the Insolvency and Bankruptcy Code (IBC) process. Vedanta had emerged as the highest bidder for JAL, which operates across cement, real estate, and infrastructure sectors. Under the proposed payment structure, Vedanta plans to make an upfront payment of about Rs 3,800 crore, followed by annual payments of Rs 2,500-3,000 crore over the next five years. JAL’s lenders had admitted claims exceeding Rs 59,000 crore, implying a potential haircut of around 71 per cent for creditors. Vedanta’s bid had edged out Adani Group in the final auction round, while other contenders, Jindal Steel & Power, Dalmia Bharat , and PNC Infratech, withdrew from the process. The regulator also cleared proposals from the Jindal Power, Adani Group, Dalmia Bharat, and PNC Infratech to submit resolution plans for JAL. Founded in 1979 by Jaiprakash Gaur, JAL had diversified across power, cement, and real estate but became overleveraged following debt-fuelled expansion in the 2000s. It defaulted on loans beginning in 2008 and was admitted into insolvency proceedings in June 2024. As part of the acquisition, Vedanta may also be required to pay additional amounts to creditors if JAL secures compensation in an ongoing land dispute with the Yamuna Expressway Industrial Development Authority (YEIDA). The matter is currently before the Supreme Court after the state High Court cancelled the land allotment in March 2025. Live Events Credit analysts have, however, expressed caution over the transaction. CreditSights, a Fitch Group firm, termed the acquisition “credit negative” for Vedanta Limited and its parent, Vedanta Resources Limited, citing JAL’s heavy debt and weak financial performance. “We view the acquisition as credit negative for VEDL and (its parent) Vedanta Resources Ltd considering JAL's heavy debt stack, deteriorating earnings, and little strategic synergistic rationale (in our view),” the firm said in its note. The report highlighted that the deal exposes Vedanta to cyclical and capital-intensive segments such as real estate, cement, and infrastructure, sectors far removed from its core mining and metals operations. It also flagged execution risks as Vedanta ventures into unfamiliar businesses while maintaining an “aggressive capex and expansion appetite.” S&P Global Ratings also noted that most of JAL’s operations currently run at a loss and may require substantial investment to improve margins, adding that Vedanta’s ability to turn around these assets would determine the overall success of the acquisition. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India's steel demand is set for strong growth. Consumption will rise by 9% in both 2025 and 2026. This surge is fueled by all sectors using steel. Globally, demand is expected to be flat this year. However, India's production is already growing. This positive trend is driven by infrastructure and housing projects. View More

Steel consumption in India is set to grow by 9% each in both 2025 and 2026, driven by increasing demand from all sectors using the metal, the World Steel Association said on Monday. Globally, however, the demand is expected to remain flat at around 1.75 billion tonnes in 2025, the industry body noted. In 2026, the global demand is expected to rise by around 1.3% year-on-year to 1.77 billion tonnes. While the World Steel Association generally releases two outlooks each year, it had postponed releasing an outlook in April, saying the imposition of tariffs by the US administration could render its outlook outdated. India is the second-largest producer of steel in the world. In 2024, the country produced 149.6 million tonnes of steel, up 6.3% from the previous year. India was the only country among the top five producers – which includes China , Japan , United States and Russia - to see a year-on-year growth in production during the year, the association noted. Live Events The demand for steel in the country in 2026 will be 75 million tonnes more than what it was in 2020, it said. The National Steel Policy of 2017 envisages having a production capacity of 300 million tonnes by 2030; India currently has a production capacity of around 200 million tonnes. Most major steel producers are aggressively expanding capacities to cater to the expected growth in demand, which is expected to be underpinned by infrastructure and housing projects. Globally, the sluggishness in the demand for steel will largely be on account of China, which is the world’s largest producer as well as consumer of steel. The demand in China is expected to fall by 2% in 2025, and 1% in 2026. “This forecast represents a moderation of the downward trend observed since 2021, driven primarily by the ongoing downturn in the housing market,” the association said. End Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India's small steelmakers face a downturn due to weak demand and falling prices, despite recent government tax cuts aimed at boosting growth. Construction slowdown, exacerbated by monsoon rains, and the impact of U.S. tariffs on consumer industries are contributing to reduced steel consumption. Producers have cut output as demand from key sectors remains sluggish. View More

India's small steelmakers are struggling with weak demand, rising inventories and falling prices, highlighting a construction slowdown despite New Delhi introducing its biggest consumer tax cuts in eight years to boost growth and counter steep U.S. tariffs. India's economy grew 7.8% in the April-June quarter, above analysts' expectations, but a slowdown in steel demand - reflecting weaker construction activity - points to some caution over whether the rapid pace of growth can be sustained. Last month, India sharply cut taxes on hundreds of consumer items, including small cars and cement, the key sectors influencing steel demand, to spur consumption and offset the impact of punishing U.S. tariffs on Indian goods. Still, small steel producers, who account for about 45% of India's total steel capacity of around 200 million metric tons and employ more than 1.5 million people, said they have cut production by up to a third as construction activity remains weak and demand from the automobile sector has yet to pick up. Heavy monsoon rains have slowed demand from the construction sector, which accounts for nearly a third of steel consumption, while rising input costs, including iron ore and electricity, weigh further on the industry. Live Events Demand began to slacken in July, a month after India's four-month monsoon season started and rains intensified. "There is a slowdown, and there is no demand from construction," Adarsh Garg, chairman of small steel producer Jogindra Group, said. Garg added that his company has cut production by around 30%. "We are still waiting that maybe with the GST cut for automotives, there might be a positive effect," he said, referring to the reduction in India's Goods and Services Tax. Weak steel demand is the first sign that the tax cuts have had an uneven impact on overall consumption. The weak demand is reflected in domestic prices of hot-rolled coils, which fell to a six-month low of 49,144 rupees ($553.55) per ton in September, commodities consultancy BigMint said. Prolonged rainfall and delayed or limited purchases due to site disruptions at construction projects are weighing on steel demand, BigMint said in a statement to Reuters. "Till December I don't expect the situation to improve," said Vedant Goel, director at Enlight Metals. Nitin Kabra, director of Bhagyalaxmi Rolling Mill, said trade tariffs are affecting consumer industries with exposure to the U.S., weighing on their spending and, in turn, contributing to lower steel demand. The weakness in demand contrasts sharply with last year, when strong consumption led suppliers from China, Japan and South Korea to flood the Indian market, prompting the government to impose a temporary tariff in April to curb cheap imports. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Ore prices are supported by firm demand, with the average daily hot metal output among Chinese steelmakers in the initial part of October higher than that in the same period last year View More

Gurugram-based ACME Group is venturing into sponge iron production using green hydrogen. The company plans to set up a 1.2 million tonne per year plant. This move aims to decarbonize the steel industry. ACME will leverage its existing green hydrogen production. The company has already secured a significant off-take agreement. Further customer discussions are underway for the remaining output. View More

Gurugram-based renewable energy player ACME Group is diversifying into sponge iron manufacturing using green hydrogen by setting up a 1.2 million tonne per year plant, said chairman Manoj Kumar Upadhyay. He declined to provide investment details for the project. People in the know said setting up a plant of this scale for producing direct reduced iron (DRI), also known as sponge iron, typically requires an investment of $500-600 million (₹4,442-5,331 crore). ACME is currently into clean power generation and green hydrogen, among other areas. DRI is produced by removing oxygen from iron ore. This can be done using either hydrogen or carbon, and the DRI can subsequently be used in electric arc furnaces to make steel, effectively making it green steel. This has major potential for decarbonising the steel industry, which contributes over 7% to annual global greenhouse gas emissions. The plant will also produce hot briquetted iron (HBI), a premium form of direct reduced iron. Live Events ACME will be using the green hydrogen it is already producing, while pellets will be sourced either locally or from Brazil, Upadhyay told ET in an interview. “We are leveraging the green hydrogen we produce. We have a (green hydrogen) plant coming up in Odisha, and we have a project in Oman. So, this plant will be co-located wherever we are producing green hydrogen,” he said. ACME Group has already tied up with Vietnam’s Stavian Industrial Metal, which will procure 800,000 tonnes of DRI and hot briquetted iron from the company as part of a 10-year contract, said Upadhyay. For the remaining 400,000 tonnes of DRI and HBI, the group is in talks with customers in Europe and is hopeful that this output will also be tied up over the next 3-4 months. The Carbon Border Adjustment Mechanism regulation in Europe — which will come into effect from 2026 — will heavily tax imports of products with high carbon emissions into the region. This will effectively encourage products such as steel, cement, and fertilisers to move to having lower carbon emissions. “In India, companies that are more focused on exports of steel will need the HBI from us,” said Upadhyay. Producing 1.2 million tonnes of HBI and DRI will need about 30,000 to 50,000 tonnes of green hydrogen, which is currently at around $3.5 per kilogram. “We are starting off at a smaller scale in the first phase, but we aim to reach around 10 million tonnes (of DRI) in the next five-seven years,” Upadhyay said. “But we first need to demonstrate technology, efficiency, and cost-effectiveness before getting into the second phase.” Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)