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Working with Google Cloud has allowed us to turn AI from a technical experiment into a specialised partner for every employee: Tata Steel View More

The ministry said the session will be held at Steel Room, 3rd Floor, GPOA-3, Netaji Nagar in New Delhi, where companies and industry associations have been invited to present their concerns related to steel imports. View More

While most soft drinks ?are sold in India both in plastic bottles and cans, ?Diet ?Coke is only sold in cans View More

Decarbonizing heavy industry is less about clean energy and more about long asset cycles that lock in emissions for decades. The real opportunity lies in aligning emission cuts with investment decisions, making it a capital strategy issue rather than just a sustainability goal. A mix of efficiency, renewables, and circularity will be key to managing this transition. View More

The conversation around heavy industry often returns to the same point: how much cleaner energy can be generated, how quickly it can be deployed, and whether the grid will keep pace. It is a familiar discussion, but that’s only part of the story. The harder truth, for sectors like stainless steel, cement and chemicals, is that decarbonization is not primarily an energy problem. It is a capital cycle problem . Heavy industrial assets like electric arc furnaces, blast furnaces, melt shops, rolling mills, captive power plants are designed to operate for thirty to forty years. Once commissioned, they lock in emissions trajectories that no amount of policy ambition can quickly unwind. Furnaces, boilers, rolling mills, power systems , waste heat recovery units, and material-handling infrastructure are not replaced overnight. They are upgraded, optimized, and progressively transformed over investment cycles that often run into decades. This is why industrial decarbonization is not merely an energy problem; it is a capital cycle problem. A decision taken today about a furnace relining or a power plant retrofit will shape a company’s carbon footprint well into decades. The window to influence those emissions is therefore not continuous; it opens only when capital is ready to move. Miss that window, and the next opportunity is often a decade away. The distinction matters. If decarbonization is an energy problem, you solve it at the utility level and wait for the grid to green itself. If it's a capital cycle problem, you intervene in investment decisions, asset replacement timelines, and financial planning horizons. Live Events The second framing gives industry both more agency and more accountability. It transforms sustainability from a compliance exercise into a strategic investment thesis. This is precisely the shift that serious industrial operators are beginning to make. Rather than treating decarbonization as a cost centre layered onto existing operations, the more productive question is: when this asset reaches end-of-life, what does the replacement decision look like if carbon is priced into the calculation? How do we extract maximum efficiency from existing infrastructure while positioning the next investment cycle for a lower-carbon future? Within that longer arc, operational efficiency remains the most immediate lever. Every unit of energy not consumed is a unit that does not need to be cleaned up later. This could be achieved through systematic process optimisation, digital monitoring of energy flows across the plant, and the installation of several waste heat recovery boilers that turn vented heat into usable steam, enabling larger structural transitions that follow. The transition to cleaner power adds another layer, with renewable energy procurement, captive renewable capacity, power purchase agreements, and market-based instruments which are now becoming mainstream choices for industrial buyers. But again, the harder questions remain unresolved: how to manage grid intermittency at the scale a melt shop demands, how to lock in tariffs across asset cycles measured in decades, and how to ensure that green electrons are physically available where the furnaces sit. The issue is not only whether renewable energy exists, it is whether industrial users can secure it at scale, with reliability, bankable contracts, grid access, and long-term price visibility. This is where decarbonization meets capital strategy. These are not problems any single company can solve. They require sustained coordination between industry, distribution utilities and regulators willing to think beyond fiscal-year horizons. The answers could lie in focusing on operational efficiency, renewable energy, resource optimization, and circularity across operations for an industry like ours. Green hydrogen is one such early step but its role in production will depend on how fast costs fall and how fast supporting infrastructure matures. Carbon capture, utilisation and storage (CCUS) will play a complementary role for emissions difficult to abate at source. The realistic path is a portfolio: efficiency, renewables, hydrogen, CCUS and circularity working in combination, calibrated to each plant’s vintage and product mix. Circularity may be the most underappreciated lever in that portfolio. For example, stainless steel is inherently recyclable and can be repeatedly recycled without losing its essential properties. Increasing scrap usage in production helps reduce dependence on primary raw materials, lowers embedded emissions, lowers import exposure and supports resource efficiency. However, circularity is not achieved only inside the factory gate. It requires a value chain that supports sustainable practices. Suppliers, recyclers, logistics partners, customers, and technology providers all play a role in reducing lifecycle impact. Industrial decarbonization will not happen through one-time announcements. It will happen through a number of capital decisions: which technology to install, which fuel to shift to, which process to optimize, which supplier to engage, which waste stream to recover, and which future asset to build. The companies that understand this early will be better placed to manage transition risks and capture emerging opportunities. ( Kalyan Bhattacherjee is the chief sustainability officer of Jindal Stainless Ltd where he looks at environment, social and governance goals of the company and is responsible for overall energy strategy.) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! 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Micro and small enterprises facing global challenges will now receive government support. Interest subvention benefits have been extended to these firms exporting 167 specific iron and steel product categories. This initiative aims to boost their access to credit. The government previously announced a significant export support package. Medium sector units are not eligible for this particular measure. View More

New Delhi : To support micro and small enterprises impacted by the global uncertainties, the government Tuesday extended interest subvention benefits to such firms which export 167 specific iron and steel product categories. The products include non-alloy pig iron, steel, Ferro alloys and iron or non-alloy steel, among others. In January, the government announced a ₹7,295-crore export support package, comprising a ₹5,181-crore interest subvention scheme along with a ₹2,114-crore collateral support, to improve exporters' access to credit. However, the medium sector units are not eligible for this measure, the DGFT said in a trade notice. New Delhi: To support micro and small enterprises impacted by the global uncertainties, the government Tuesday extended interest subvention benefits to such firms which export 167 specific iron and steel product categories. The products include non-alloy pig iron, steel, Ferro alloys and iron or non-alloy steel, among others. In January, the government announced a ₹7,295-crore export support package, comprising a ₹5,181-crore interest subvention scheme along with a ₹2,114-crore collateral support, to improve exporters' access to credit. Live Events However, the medium sector units are not eligible for this measure, the DGFT said in a trade notice. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} 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)

These investments span advanced manufacturing, green industries, healthcare, and tourism, reinforcing the state's industrial growth and economic diversification. View More

The Government of Odisha on Tuesday approved a new set of strategic industrial investments aimed at accelerating economic growth and large-scale employment generation. At the 146th meeting of the State Level Single Window Clearance Authority (SLSWCA), chaired by Chief Secretary Anu Garg, 18 industrial projects with a total investment of Rs 3,877.14 crore were approved. These projects are expected to generate 7,565 employment opportunities across 11 districts including Balasore, Deogarh, Ganjam, Jajpur, Jharsuguda, Keonjhar, Khordha, Koraput, Puri, Sambalpur, and Sundargarh. The projects approved in the 146th SLSWCA meeting reflect Odisha Government’s focused strategy of building a diversified industrial ecosystem spanning advanced manufacturing, green industries, infrastructure, healthcare, and tourism—while ensuring large-scale employment generation across regions. Strengthening Odisha’s core industrial strength in metals and value-added manufacturing, Runaya Eckart Aluminium Powders Private Limited will establish an aluminium downstream manufacturing facility, promoting advanced material production and downstream value addition. Scan Steels Limited, Jay Jagannath Steel & Power Limited, and SS Alufoils International Limited, will expand steel, iron and ferro-alloy manufacturing capacities, reinforcing Odisha’s leadership as India’s premier metal manufacturing hub while generating significant industrial employment. Solar Industries India Limited will establish an explosives manufacturing facility in Jharsuguda. Envair Electrodyne Limited will set up an ESDM manufacturing unit, contributing to Odisha’s growing electronics manufacturing ecosystem and supporting skilled employment generation in emerging technology sectors. Live Events Odisha continues to expand its presence in the healthcare manufacturing sector with Harman Finochem Limited setting up a pharmaceutical manufacturing unit and Ambitech Healthcare Private Limited setting up a medical device manufacturing facility. These investments will strengthen the state’s pharmaceutical value chain. South Block Marketing Private Limited will set up an Integrated facility for recycle of plastic& Metal products. Industrial infrastructure development receives a significant boost with projects by Tamil Nadu Ispat Private Limited and Alps Mining & Infra Projects Private Limited, which will enhance logistics, material handling, and industrial support infrastructure—critical for enabling faster industrial expansion across Odisha. Baleshwar Shipyard and Infra Private Limited will undertake shipbuilding, ship repair, and construction of mechanized floating vessels in Balasore, positioning Odisha as an emerging hub for coastal and maritime industrial activity. Odisha’s tourism economy will witness further expansion through 6 new hospitality projects by Jas Constructions Private Limited, Rath Hospitality Private Limited, Keonjhar Regal Paradise Private Limited, Karyon Ventures Private Limited, Surya Eco Resorts Private Limited & Chaturbhuja Hotel & Resorts Private Limited. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

The project aims to cut carbon emissions by over 50% compared to the blast furnace’s baseline operation View More

India and Korea find alignment as U.S.–China tensions reshape trade — but struggle to move beyond intent View More

In this articlePKXJSWSTEEL-INHYUNDAI-INLGEINDIA-INSSNLFSSNLFCOCHINSHIP-INFollow your favorite stocksCREATE FREE ACCOUNT NEW DELHI, INDIA - 2026/04/20: South Korean President Lee Jae Myung heads into talks with Indian Prime Minister Narendra Modi at Hyderabad House, aiming for a big boost in economic cooperation, particularly in areas such as enhancing cooperation in semiconductors, shipbuilding, AI, defense, and securing supply chains nearly doubling bilateral trade to $50 billion by 2030. (Photo by Sondeep Shankar/Pacific Press/LightRocket via Getty Images)Pacific Press | Lightrocket | Getty Images Trade uncertainty with the U.S. and the push to diversify away from China make India and South Korea natural partners — but their relationship has yet to translate from intent into meaningful execution.On Monday, the Indian Prime Minister Narendra Modi and South Korean President Lee Jae Myung reaffirmed plans to increase bilateral trade to $50 billion by 2030, a goal that was first announced in 2018. Modi, in a joint press statement, said that the two countries were moving from a "trusted partnership" to a "futuristic" one where areas of collaboration spanned "chips to ships, talent to technology, and environment to energy."Jae Myung, the first South Korean president to visit India in eight years, added that in "an era of hyper uncertainty," the two countries can be "the most ideal partners for comprehensive cooperation to promote mutual growth and Innovation."But despite the big targets and talk, trade between the two countries grew at a compounded annual rate of just 3% from 2018 to 2025. In the financial year ending March 2025, total trade between India and Korea was $26.89 billion — a little over half the goal set for 2030, as per Indian commerce ministry data. "I would just say unrealized potential is tremendous," Ashok Malik, partner at public policy think tank The Asia Group, told CNBC, adding that both countries are looking to diversify from the U.S. market and explore sourcing options other than China.Korea is a great fit for India as it offers advanced technology in EVs, electronics, semiconductors, and AI. India wants to diversify its sourcing away from China in these sectors, Malik said, adding that shipbuilding and automotive steel are further areas of interest to India.But experts, including Malik, said that regulatory delays are a key deterrent for South Korean companies looking to invest in India. Practical challenges The biggest concern is policy unpredictability, said Reema Bhattacharya, head of Asia research at Verisk Maplecroft, adding that land acquisition, infrastructure delays, and regulatory complexity "remain practical operational challenges" for Korean companies investing in India.Take the case of Korean steel giant POSCO, which announced a $12 billion investment in India almost two decades ago. This project encountered several delays, and POSCO dropped it a few years ago due to difficulties in acquiring land, according to a Reuters report.In 2024, POSCO renewed its plans to invest in India by setting up a steel plant capable of producing 6 million tons per annum, this time in a joint venture with India's JSW Steel. After two years of planning, the project has secured land and will be operational by 2031.Meanwhile, in shipbuilding, the progress has been slow. HD Korea Shipbuilding & Offshore Engineering in July last year announced plans to explore shipbuilding operations with the Indian state-owned company Cochin Shipyard. So far, there has been no formal commitment from either side about the scale of investment or on setting up a joint venture. Shipbuilding is a "driving passion of the Modi government" since its early days and is showing some promise now, but it still has a long way to go, said Malik.South Korean businesses have been prominent in India since the 1990s, with some dominating key sectors, such as Hyundai India in automobiles, LG Electronics in consumer goods, and Samsung in electronics. Yet, South Korea ranks as only the 13th largest FDI investor in India with cumulative flows from April 2000 to March 2025 standing at just $6.69 billion, according to data from the India Brand Equity Foundation.By comparison, Singapore ranks second with a cumulative FDI inflow of $174.89 billion, while the U.S. ranks third with $70.65 billion. Arpit Chaturvedi, South Asia advisor at Teneo, pointed out that despite "enormous strategic interest," Korean M&A in India has remained relatively modest at around $200–$300 million annually in recent years. This is "a small share of Korea's total outbound M&A," he told CNBC in an email.Meanwhile, over the last two years, Korean companies have successfully repatriated part of their early investments in India. Hyundai India sold shares worth $3.3 billion in 2024 via an IPO, while LG Electronics' listing fetched the Korean major $1.3 billion. Both these IPOs were structured as an offer for sale — a route that enables existing investors to sell shares. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

This boom, led by China's manufacturing prowess, is making batteries a crucial tool for grid resilience and a cost-effective alternative to fossil fuels, promising a revolution in power systems worldwide. View More

Around the world, a wave of mega installations of batteries are lining up to be connected to the grid this year — from solar hubs in Texas to grasslands in Inner Mongolia and the site of a former coal plant north of Sydney. Falling costs and soaring energy demand from data centers had already set the stage for rapid growth. The war in the Middle East has helped accelerate the trend by lifting demand for alternatives to expensive fossil fuels, setting 2026 up to be the year batteries become influential in the global energy system. BloombergNEF analysts had already expected installations to jump by about a third this year, led by expansion in Europe, the Middle East, Africa and Latin America. That momentum could build further if fuel disruptions persist. Signs of the ramp up are already emerging. A Chinese battery manufacturer has forecast a sharp rise in first quarter profit as global demand picks up. In Vietnam, a developer is seeking approval to replace a planned LNG-to-power project with renewables paired with storage, citing the surge in fuel costs linked to the war. “We’ve now crossed into a point where anytime anyone is looking at investing in the power system, batteries are one of the most attractive options,” said Brent Wanner, head of the power sector unit at the International Energy Agency . “Battery storage systems will continue to grow for the foreseeable future.” In markets flooded with solar and wind — technologies that have been built out significantly since the last energy crisis in 2022 — battery operators can buy electricity when it’s cheap and sell it when demand peaks. Where grids once relied on coal and gas when renewable output dipped, storage technology is now becoming cheap and fast enough to make a difference in how the grid functions. Average costs have dropped by around 75% from 2018 to 2025, according to BNEF, and are expected to tumble another 25% through 2035. Live Events Battery projects are also increasingly being built in fleets big enough to make a real difference in how the grid operates. In Inner Mongolia, three massive sites were recently switched on with a combined capacity of 7.4 gigawatt-hours, enough to rival several large power plants for short periods. In Scotland, two huge neighboring battery farms at the site of a former coal mine will start up this year. Bloomberg Australia — the world’s largest battery market on a per capita basis — offers a glimpse of how the boom is reshaping energy systems . Shortly after a massive project known as the Waratah Super Battery was partially switched on in New South Wales last year, batteries discharged more power onto the main grid during the evening peak than gas-fired plants. The site is expected to become fully operational in 2026. Storage is also helping delay an expected gas crunch as domestic fields deplete, underscoring its role in the nation’s energy security. For investors, one big reason that projects have become more appealing is the rapid decline in costs. Waratah, for instance, would cost about 20% less to build now than when it began construction four years ago, according to Nick Carter, chief executive officer of Waratah’s owner Akaysha Energy Pty Ltd. “If you had the same project today, the economics would be materially better,” he said, even as Waratah’s strong returns have left him with “no regrets.” Battery glut At the center of the world’s energy storage boom is China’s role in producing the hardware. Years of investment in its electric vehicle supply chain have created a glut of batteries, driving prices down and flooding global markets with cheaper equipment. Exports of lithium-ion batteries climbed in March amid rising global demand for alternative energy sources as oil and gas supplies are roiled by the Iran war. The country now accounts for the vast majority of global manufacturing capacity, as well as around half of existing grid-scale battery installations. That’s in part because of a 2021 mandate requiring renewable projects to include energy storage, which has since been retired. The pattern mirrors the solar industry’s post-2021 cycle, when surging demand triggered a wave of investment that led to oversupply, collapsing prices and, ultimately, mass adoption, according to consultancy Trivium China. What’s striking is that the decline in battery prices is happening even as costs for most other clean energy technologies have risen. Bloomberg That means the calculus for projects is changing quickly. In mid-2024, Australia’s AGL Energy Ltd . began construction of a large battery in New South Wales. Six months later, it approved another project in the same state at roughly half the cost per megawatt-hour, according to CEO Damien Nicks. Soaring demand With power systems under strain across much of the world, the wave of cheaper batteries is coming at a pivotal moment. In the US, the speed of construction is an important factor. Data centers from Texas to Tennessee are turning to solar paired with batteries because traditional power plants can’t be built quickly enough, as turbine shortages and grid bottlenecks slow timelines. Near Memphis, Tennessee, Elon Musk’s artificial intelligence business xAI has installed rows of Tesla Inc. Megapack batteries at its Colossus supercomputing facility to manage outages and surging electricity needs. Batteries are expected to account for more than a quarter of the record generating capacity the US is set to add in 2026, according to the Energy Information Administration. “A lot of people still view the battery story as a clean energy technology,” said Jeff Monday, chief growth officer at storage provider Fluence Energy Inc. “We’ve seen an evolution — battery tech is now seen as building grid resilience.” The dynamic is also spawning a new class of technologies outside of lithium-ion, which are designed to stretch storage from hours to days. Companies like Form Energy Inc. are pitching batteries that can keep data centers running through prolonged shortages, effectively substituting for supply from the grid. Unlike lithium-ion cells, Form’s technology relies on the rusting of iron to store and release energy for up to 100 hours, 25 times longer than most grid-connected batteries. In Europe, the challenge is different. A rapid expansion of wind and solar is straining grids that were not designed for huge variations in supply, increasing price swings and forcing operators to turn off when generation outpaces demand. Germany alone is expected to lose €3.7 billion ($4.4 billion) to curtailed renewable output this year. Storage is now set to surge across the continent, with capacity forecast to grow around fivefold by the end of the decade, according to a report earlier this year by think tank Aurora Energy Research. Energy price swings unleashed by the Iran war increase arbitrage revenues and strengthen the case for cutting reliance on imported fossil fuels, according to BNEF. In Europe, it sees batteries that are already online or nearing completion as likely to benefit most, with capacity seen rising from about 50 gigawatts in 2025 to 75 gigawatts by year-end. “In the face of rising gas prices with the war in Iran and general market fluctuations, storage can serve as a hedge for the power price volatility that is becoming more frequent,” said Allison Feeney, an energy storage analyst at research firm Wood Mackenzie . “It's going to revolutionize the way our grid operates, once we reach high penetration levels.” Bloomberg The technology is also gaining momentum elsewhere. India has supercharged its auctions for energy storage projects as it races to balance a grid receiving more variable renewable power. Brazil is preparing its first tender for grid-scale batteries. In Egypt, Africa’s largest hybrid solar and battery installation was partially switched on earlier this year and is expected to become fully operational this summer. The takeoff, however, is not without constraints. Much of the industry still depends on China’s supply chain, creating vulnerabilities as geopolitical tensions rise and US trade tariffs enter into force. While the US now has the production capacity to supply 100% of its energy-storage systems domestically, according to a March report by the US Energy Storage Coalition , Chinese equipment is still cheaper than American-made components. Deploying batteries at scale also requires navigating the same bottlenecks facing the broader power sector. Grid connection delays, permitting hurdles and evolving market rules can slow projects, even as demand surges. “For installers in Europe, the hardware is only maybe 50% of the cost, but then there are also the grid connection and installation costs,” said Eva Zimmermann, a senior research associate at Aurora. Higher interest rates as a result of war-related price disruptions could also complicate the economics of capital-intensive projects. Yet even with those constraints, few expect the battery boom will slow. In the US, demand for storage outweighs policy headwinds, driven by rising electricity needs, the growth of data centers and the need to stabilize renewable power. Developers are continuing to push into new markets, from Europe to Texas, betting that the same forces reshaping Australia will play out elsewhere. Akaysha’s Carter, who cut his teeth in the energy and automotive industries before making the jump to renewables, sees the current momentum extending well beyond this decade. “Power demand is going up, data centers are coming online, more renewables are getting built, coal is exiting,” he said. “So when you combine all those things, the need for storage is going up.” .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

India–Korea business ties expanded with multiple MoUs across renewable energy, steel, IT and mobility sectors, as Suzlon, TVS Motor, Hyundai, JSW Steel, TCS and others announced major global partnerships, investments, expansions and technology collaborations View More