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Domestic stainless steel makers are pressing the government to reinstate quality control norms from July 1, warning that a temporary QCO relaxation has fueled a flood of cheap imports. The Indian Stainless Seamlesspipes Manufacturers Association highlights that this influx, coupled with alleged anti-dumping duty circumvention, has crippled industry capacity to below 50%, jeopardizing local manufacturers. They urge immediate QCO restoration to curb substandard goods. View More
New Delhi: The domestic stainless steel industry has urged the government not to extend the temporary relaxation from the Quality Control Order (QCO) beyond June 30 and to restore the norms from July 1. The Indian Stainless Seamlesspipes Manufacturers Association ( ISSMA ) said the industry is grappling with a surge in low-priced imports , facilitated by the temporary withdrawal of the QCO and the alleged circumvention of anti-dumping duties . The relaxation expires on June 30, with the QCO set to come back into force from July 1. "The industry's capacity utilisation has fallen to below 50%, threatening the viability of domestic primary manufacturers," Prakash Tatia, spokesperson at ISSMA, told ET. He said the association had "urged the government to reinstate the QCO at the earliest to prevent the inflow of sub-standard imports". .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)
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies. View More
New Delhi: Steel products manufacturer VMS TMT Ltd on Monday said its board has approved the merger of TMT bars maker Aditya Ultra Steel Ltd (AUSL) with the company. The proposed amalgamation will combine the manufacturing infrastructure, distribution network, management expertise, and financial resources of both companies, creating a stronger platform for sustainable long-term growth, VMS TMT said in a statement. "Under the approved Scheme of Amalgamation, shareholders of Aditya Ultra Steel Ltd will receive 75 equity shares of VMS TMT Ltd for every 100 equity shares held in Aditya Ultra Steel Limited," the company said. "By bringing together two highly complementary businesses, we are creating an integrated platform with enhanced manufacturing capabilities, a wider distribution footprint, and stronger financials," Varun Jain, Chairman & Managing Director, VMS TMT Limited, said. The merger will lead to a combined installed manufacturing capacity of over 300,000 tonnes per annum, creating substantial economies of scale across procurement, production, logistics, and distribution in Gujarat, it added. VMS TMT and AUSL are Gujarat-based manufacturers of TMT steel bars. PTI .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)
The Indian government is set to launch a Rs 5,000 crore scheme within three months to boost clean technologies in steelmaking, aiming to slash carbon emissions. Titled the National Strategy for Sustainable Secondary Steel, the initiative will benefit all steel producers, with a significant portion allocated to smaller players. This move aligns with India's net-zero commitments, addressing the steel sector's substantial contribution to greenhouse gas emissions. View More
New Delhi: The government is planning to introduce a scheme to promote the adoption of clean technologies in steelmaking processes with an outlay of Rs 5,000 crore, according to an official. The move is aimed at reducing carbon emissions from the domestic steel industry. The scheme named National Strategy for Sustainable Secondary Steel is expected to be launched in the next three months, a senior government official told PTI. "The scheme may go for approval of the union cabinet," another official in the know of the development said. The scheme will cover all steelmakers in the country. However, a major share of the funds will be earmarked for secondary players. The National Strategy for Sustainable Secondary Steel aims to promote the adoption of clean technologies and alternative materials across various steelmaking processes to reduce carbon emissions from the domestic steel industry. Live Events The move assumes significance as India is a signatory to the Paris Agreement and aims to become a net-zero country. Steel sector is among the largest carbon-emitting industries. India's steel industry accounts for 10-12 per cent of country's greenhouse gas emissions with an emission intensity of 2.55 tonnes CO2 per tonne of crude steel, higher than the global average of around 1.9 tonnes Co2 emissions, according to official data. .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)
The government is set to launch a Rs 5,000 crore scheme within three months to boost cleaner technologies in India's steel sector, a major contributor to carbon emissions. This initiative, the National Strategy for Sustainable Secondary Steel, aims to reduce the industry's environmental footprint and align with India's net-zero commitments. While benefiting all steelmakers, secondary producers are expected to receive significant financial backing to adopt sustainable practices. View More
Hindustan Zinc is pivoting towards becoming a future-ready energy transition company, Chairperson Priya Agarwal Hebbar announced. The firm is significantly investing in technology like AI and automation to boost productivity and safety. Diversifying beyond zinc, the company is exploring critical minerals such as lithium and rare earth elements, essential for the growing electric vehicle market and India's industrial expansion. This strategic shift, dubbed Hindustan Zinc 2. View More
New Delhi: Vedanta group firm Hindustan Zinc Chairperson Priya Agarwal Hebbar on Monday said technology will be crucial to the company's next phase of growth, with increased investments in automation, artificial intelligence, advanced analytics, and intelligent mining systems to improve productivity, precision, and safety. "Our ambition is to become a future-ready energy transition company, building strength across multiple metals and critical minerals that support India's industrial growth and strengthen global supply chains," she said while addressing shareholders at the company's 60th Annual General Meeting (AGM). The company is positioning itself for the next phase of the global energy transition by expanding beyond zinc and foraying into critical minerals, downstream manufacturing and technology-led mining, according to the Chairperson. Also Read: Govt extends deadline for bids under Rs 7,280-crore rare earth magnet scheme Hebbar said that shifting geopolitics, artificial intelligence, evolving global supply chains and the energy transition are fundamentally reshaping the natural resources sector, increasing the strategic importance of companies that can supply critical minerals responsibly, reliably and at scale. ​ Live Events Highlighting the growing importance of energy transition minerals, Hebbar said that an electric vehicle requires six times as many minerals as a conventional vehicle, while the global market for energy transition minerals is likely to more than double to USD 770 billion by 2040. "For India, this moment is especially significant. As our economy grows and manufacturing expands, securing critical resources is becoming a strategic priority. India has built real strength across zinc, bauxite, iron ore, aluminium and manganese. But the next frontier lithium, cobalt and rare earth elements, the building blocks of clean energy and advanced technology, is where we now need to focus," Hebbar said. Describing the company's long-term strategy as Hindustan Zinc 2.0, she said the company is evolving from being the world's leading integrated zinc producer into a broader energy transition company. "Our ambition is no longer simply to be the world's leading integrated zinc producer. Our ambition is to become a future-ready energy transition company, building strength across multiple metals and critical minerals that support India's industrial growth and strengthen global supply chains," she said. ​ As part of this strategy, Hindustan Zinc has secured mineral blocks for tungsten, potash, rare earth elements and halite, marking the beginning of its diversification into critical minerals. The company is also progressing towards doubling its production capacity over time through phased investments while continuing to strengthen its exploration pipeline and maintain mine life well beyond 25 years. ​ Alongside upstream expansion, Hindustan Zinc is building downstream manufacturing capabilities through its Zinc Parks initiative. In partnership with Tripura Group and CMR Green Technologies , the company aims to create India's first integrated zinc manufacturing ecosystem, bringing MSMEs into the value chain, generating employment and supporting the country's manufacturing ambitions. .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)
With a growing domestic market and potential in sectors like green hydrogen and pharmaceuticals, India aims to be a manufacturing and innovation hub, boosting its global competitiveness. View More
Capacity augmentation, technological innovation and value-added applications will be critical for India to become a global leader in stainless steel production, a top industry executive said. India's stainless-steel industry stands at a defining moment. With sustained investments in capacity expansion, technological advancement, product innovation, and value-added applications, India has the potential to emerge as a global hub for stainless steel manufacturing, Abhyuday Jindal, the Managing Director of Jindal Stainless , said. According to the industry body ISSDA, the country's stainless steel production stands at 5.16 million tonnes, compared with the global total of 64.2 million tonnes. While against the world average of 6 kg, the per capita consumption of stainless steel is around 3.4 kg in India. Not just infrastructure, metro and railways, construction and real estate, stainless steel applications can support the sustainable growth of growing sectors such as green hydrogen, food processing, pharma, among others, Rajamani Krishnamurti, President, Indian Stainless Steel Development Association (ISSDA), said. As India strengthens its position as the world's second-largest consumer of stainless steel, industry stakeholders are increasingly aligning efforts to accelerate growth, innovation, and global competitiveness, Jindal noted. Live Events In this direction, the Global Stainless-Steel Expo (GSSE) is set to gain further momentum through support from the Indian Stainless Steel Development Association (ISSDA) in the forthcoming GSSE Expos. "Beyond consumption growth, India has the opportunity to become a globally competitive manufacturing and innovation hub for stainless steel and its applications," said Krishnamurti. Anitha Raghunath, Director of GSSE, said India's stainless steel industry needs a unified platform where the Ministry of Stainless Steel, ISSDA, and GSSE work together to align policy, innovation, and market opportunities, accelerating India's rise as a global stainless steel industry. .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!
Quote of the day from Mulan: The popular line is from Disney's Mulan by the Emperor after realising the Mulan's extraordinary courage and strength. It talks about resilience, courage and inner strength, highlighting how challenges are crucial in life. View More
India has launched an anti-dumping investigation into hot rolled steel imports from China, Japan, and Russia. JSW Steel and Jindal Steel allege these products are being sold at unfairly low prices, harming domestic manufacturers. The Directorate General of Trade Remedies found initial evidence of dumping, with significant price differences. This probe, covering imports from 2022-2025, aims to assess the impact on India's steel industry. View More
New Delhi: India has initiated an anti-dumping probe against cheap imports of certain hot rolled steel goods from China, Japan and Russia, following an application by JSW Steel Ltd , JSW Vijayanagar Metallics Ltd and Jindal Steel Odisha Ltd, the commerce and industry ministry said in a notification. The applicants had alleged that "hot rolled flat products of alloy or non-alloy steel" exported from China, Japan and Russia are being imported at dumped prices , which is causing material injury to the domestic industry. The Directorate General of Trade Remedies (DGTR), an arm of the ministry, will investigate "the existence, degree and effect of the dumping". It will consider import data from 2022 to 2025 for the probe. The DGTR said its initial findings showed that the product was being exported at prices significantly lower than its normal value. The gap between the two, known as the dumping margin, was found to be above the minimum threshold and significant for exports from these countries. So, there is sufficient prima facie evidence that the product is being dumped in the Indian market by the exporters from these countries, it said. "On the basis of the duly substantiated application filed by the applicants, and having satisfied itself, on the basis of the prima facie evidence submitted by the applicants substantiating dumping of the product...the Authority, hereby, initiates an anti-dumping investigation," it said. Live Events The product is used in automotive, oil and gas line pipes/exploration, cold rolled steel products, pipe manufacturing, general engineering and fabrication, construction, capital goods, process equipment for cement, fertiliser, refineries and earthmoving. In a separate notification, the DGTR said it is also investigating the alleged dumping of dialysers from China and Malaysia. .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)
The probe was launched following an application filed by JSW Steel, JSW Vijayanagar Metallics and Jindal Steel Odisha. The application has also received support from Tata Steel and SAIL View More
The investigation, initiated on June 22, 2026, covers imports from April 1, 2025, to March 31, 2026, while the injury analysis covers 2022-23 to 2024-25 View More