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The capacity utilisation of Indian operations was at 83 per cent, lower due to shutdown of Blast Furnace 3 (BF3) at Vijayanagar for upgradation of capacity to 4.5 MTPA from 3.0 MTPA View More

EEPC India urged the government to include steel and aluminum products in US BTA talks, citing the impact of Section 232 tariffs. For EU FTA negotiations, they advocated maintaining current quota and out-of-quota tariffs, with a gradual phase-out, and sought exemptions for MSME-dominated stainless steel products. View More

New Delhi: EEPC India , the apex engineering exports promotion body, has requested the government to include various steel and aluminium products manufactured especially by MSMEs in the ongoing negotiations with the US for a bilateral trade agreement (BTA). The EEPC India has also suggested maintaining the status quo in terms of both quota and the out-of-quota tariffs while negotiating a free trade agreement (FTA) with the European Union (EU). Taking up the exporting community's concerns with the negotiating team for the FTAs, Pankaj Chadha, Chairman of EEPC India, has stated that the implementation of the 50% tariff under Section 232 has significantly impacted engineering exports to the US market, necessitating the inclusion of specified products in the BTA negotiation. "The 50% tariff imposition by the US increases the tariff differential with our competitors to an average of 30%. This definitely impacts our position in the US market. A special support package that can absorb at least 15% of this differential would help us to secure our position," he suggested. Furthermore, Chadha highlighted that the new EU proposal to reduce quotas and increase out-of-quota tariffs to 50% is a cause for concern. Live Events He noted, "The existing quota already poses a challenge for the exporters as our volumes are much higher. The EU has also kept these products out of the purview of its trade agreement negotiations with India. In this case, our suggestion is to maintain the status quo in terms of both quota and the out-of-quota tariffs. Additionally, this should be brought under FTA negotiation, and once the FTA is implemented, the tariff should be gradually phased out." Regarding the pressing concerns of the industry about the EU tariff rate quota (TRQ), the EEPC India chairman has sought exemption for stainless-steel long products (Categories 14, 15, and 22) from TRQs, given their MSME dominance and strategic importance. For other product categories, the Engineering Exports Promotion Council has suggested increasing the quota volumes. "It may be ensured that out-of-quota tariffs do not exceed 25%, and the same is gradually phased out over five to six years, especially considering the ongoing FTA negotiations with the EU," Chadha said. He urged the negotiating team for the India-EU FTA to take up these issues with EU authorities to ensure enhanced market access for Indian exporters in this important region. EEPC India has accorded top priority to strengthening its position in the traditional markets, including the US and the EU. .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, the world's second-biggest crude steel producer, imported 0.5 million metric tons in October, down 55.6% from a year earlier View More

Following the bankruptcies of the dirty dozen, India’s steel sector came to be dominated by five names. Now, six more companies are making serious investments in the sector in what some say is a steel rush. Can they break the stranglehold of the incumbents? View More

ArcelorMittal Nippon Steel India's proposed steel plant in Andhra Pradesh faces a delay. The Expert Appraisal Committee needs clarification on siting rules. A new notification from the Ministry of Environment, Forest and Climate Change is under revision. The company has sought compliance confirmation from the Andhra Pradesh Pollution Control Board. View More

An Expert Appraisal Committee under the MoEFCC has deferred its decision on granting environmental clearance to ArcelorMittal Nippon Steel India Limited's proposed 8.2 million tons per annum steel plant at Anakapalli District of Andhra Pradesh , seeking some clarifications. AMNSIL has approached the Ministry of Environment, Forest and Climate Change (MoEFCC) seeking environmental clearance for its Rs 1.50 lakh crore steel plant. The EAC deliberated on the proposal in its meeting held on October 30. "In view of the foregoing and after detailed deliberations, the committee deferred the instant proposal, and asked Ind-1 sector to obtain a clarification from CP Division (Controller of Pollution) on applicability of GSR 85E to the instant proposal, in view of the fact that the site possessed an EC earlier," the EAC said in the Minutes of Meeting. The total capital cost of the Environmental Management Plan which will be incurred for the proposed integrated steel plant is estimated to be about Rs 3,540 crores with an annual recurring cost of Rs 355 Crores. The total employment generation during the construction phase would be about 23,000 considering peak requirement, of which direct manpower requirement would be about 800 while Indirect requirement would be about 22,200. Live Events During the operation phase, the direct manpower requirement is estimated to be about 3,000 and Indirect requirement would be around 4,500 for operations and maintenance. Employment to the locals will be considered based on meeting the criteria suitable for the job roles, the EAC said. Sources close to the development said the MoEFCC issued Notification GSR 85(E) on January 30, 2025, specifying criteria for the establishment of Industrial Plants . Since the site allotment to AMNSIL predated this notification, the company undertook immediate and proactive measures to ensure full compliance with the new siting guidelines, sources said. AMNSIL formally approached the Andhra Pradesh Pollution Control Board ( APPCB ) on October 13, 2025, requesting the necessary Certificate/ Letter confirming the site's compliance with the criteria set forth in Notification GSR 85(E). The APPCB, after following due procedure and considering the site's history as part of an already-cleared Industrial Park, issued its formal compliance letter on October 17, 2025. "It's basically a siting criterion of industry in any particular location. There was a notification issued by the MOEFCC in January this year. That notification itself is not correct. The Ministry has admitted it, and it is under revision right now. Very soon, that will be out," sources told PTI. Though the APCCB gave clarification, the legal team of the EAC was not satisfied. Once the clarification comes from the ministry, the proposal will be cleared automatically, sources added without giving a timeframe, sourcs added. .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)

Narendran was delivering a talk on ‘Leadership in the Times of Geopolitical and Technological Disruption’ at GRG School of Management Studies, PSGR Krishnammal College for Women. View More

The modified modern steel loom has been built with height adjustments, and allows artisans to sit in a natural position while weaving, said Zubair Ahmad, Director IICT, Srinagar View More

The Steel Ministry has approved laying a pipeline to carry slurry to the proposed steel plant View More

While a ruling against Trump administration could lower US average tariff rates, the Prez may utilize other tools to impose import taxes, potentially leading to renewed trade tensions and the need for diversified supply chains. View More

The Supreme Court ’s questioning of President Donald Trump’s use of broad powers to justify much of his sweeping tariffs leaves businesses that actually pay the levies facing months of potential uncertainty. While the same lack of clarity applies to US trading partners — both those that have already inked deals and those still in negotiations — there’s also a recognition that Trump will likely fall back on other tools to tax imports if his use of the 1977 International Emergency Economic Powers Act is deemed unconstitutional. Here’s a look at the tariff calculations confronting economies around the globe if the Supreme Court does end up ruling against the administration. Who’s Possibly Affected? India and China have been among the biggest targets of US tariffs, while Brazil has also been hit with a very high impost. Switzerland was a surprise target, too. According to Bloomberg Economics, a broad ruling against Trump would cut the US average effective tariff rate to 6.5%, a level not seen since before the president’s April 2 Rose Garden announcement of his “Liberation Day” tariffs on dozens of countries. The average effective tariff rate is different (and usually lower) than the headline rate that has been announced by the US due to various exemptions and pre-existing levies. Live Events Bloomberg China Trump and Chinese President Xi Jinping agreed last week to lower US tariffs by 10% and to continue to suspend other threatened tariffs for a year, which provides some certainty for companies. Trump could use other legal authorities to justify tariffs if needed, and many of the issues between the rival superpowers come down to their chokeholds on key products, meaning ongoing tensions aren’t likely to fade anytime soon. “US-China tensions are a trend and not a blip even if it is de-escalated,” said Trinh Nguyen , senior economist for emerging Asia at Natixis SA. “Diversification isn’t just a pure tariff calculation but a shift in geopolitics and that isn’t going to change. Companies need to establish diversified supply chains.” Bloomberg Some Chinese researchers are skeptical that the Supreme Court could stop Trump, given his massive executive power. State media outlets had intensive coverage on how Supreme Court judges were questioning the legitimacy of Trump’s tariffs, but also noted that it is quite unlikely for the court to completely terminate Trump’s tariff policies. The reports also mentioned Treasury Secretary Scott Bessent’s earlier comments that the US government would maintain the current tariff levels. China’s Ministry of Commerce didn’t respond Thursday to a question asking them about the court case. Bloomberg North Asia Taiwan has seen a massive spike in its exports to the US this year, driven by the AI boom. However, it’s unlikely to be affected by whatever the Supreme Court rules because a lot of high-tech gear is exempt from US tariffs. Similarly, trade with Japan and South Korea is unlikely to be substantially altered. Japan has already signed a tariff and investment deal with the US, while South Korea has yet to put pen to paper on its recent agreement. It seems unlikely either nation would tear up those hard-fought agreements. “We expect most trading partners that announced agreements with the Trump administration earlier this year to remain in those agreements to avoid renewed tariff uncertainty,” Goldman Sachs Group Inc. economists led by Alec Phillips and Jan Hatzius wrote in a note. Bloomberg “However, as it is the US importers who pay the tariffs and not trading partners, the willingness of other countries to stick to the agreed deals might not be relevant,” they wrote. “The most likely solution would be for the administration to use its other authorities to impose the tariffs called for under the deals, but the process of doing so would create renewed uncertainty.” Southeast Asia The effect on trade flows from Southeast Asia could potentially be larger, as exports from Vietnam, Thailand and other places have jumped this year, partly due to companies trying to get ahead of US tariffs. If those tariffs were to be removed or lowered, it could prompt another flood of goods. But even in this region the exact effect on trade flows is murky as a substantial portion of those flows are semiconductors. Right now these are exempted but that might change if the US does impose new levies on that trade, and Trump has indicated that semiconductor-related levies are coming soon and has threatened tariffs as high as 300%. India India has been negotiating with the US to bring down a 50% tariff rate, one of the highest in the world, after Trump targeted the country for its purchases of Russian oil. Trump has softened his criticism in recent weeks, and both sides have sought to defuse tensions, raising optimism that a trade agreement may be in the offing. Officials in New Delhi say a Supreme Court ruling against Trump won’t make much difference to the trade talks. The White House could use other tools to achieve its trade objectives, taking executive action, or possibly using non-tariff barriers, the officials said, asking not to be identified because the discussions are private. The court action gives Indian negotiators more reason to push for language in the trade pact that’s compatible with World Trade Organization rules and would be legally-binding, one of the officials said. A ruling against Trump would strengthen New Delhi’s case for sticking to its position, the person said. India’s Ministry of Commerce and Industry didn’t immediately respond to a request for comment. The Ministry of External Affairs declined to comment. Bloomberg Europe The European Union and the US concluded a trade arrangement in July under which Washington will increase its tariffs to 15% for most EU goods, including cars. In return, Brussels agreed to remove low duties for US industrial goods and some non-sensitive agrifood products to avoid a costly dispute with its largest trading partner and secure its badly needed security cooperation to counter threats from Russia. The agreement, described as asymmetrical by top EU officials, was criticized by member states and the European Parliament, and failed to remove punitive tariffs on some EU metals. The European Commission, the EU’s executive arm, is pushing the Trump administration to lower a 50% duty on steel and aluminum exports and avoid that the levy keeps spreading to more products using these metals. In addition, EU lawmakers are discussing amendments to the agreement before giving its blessing, such as the introduction of a sunset clause. .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!

Adani Enterprises' copper subsidiary, Kutch Copper, has signed a major pact with Caravel Minerals in Australia. This collaboration aims to secure vital copper resources for India's growing copper business. The partnership will accelerate the Caravel Copper Project towards a 2026 investment decision. This strategic alliance strengthens India and Australia's role in the global energy transition. View More

Adani Enterprises Ltd ’s copper arm has struck a major supply and investment pact in Australia, deepening India’s push for critical minerals and securing feedstock for its fast-growing copper business. Caravel Minerals Ltd (ASX: CVV) on Thursday announced the signing of a non-binding Memorandum of Understanding (MoU) with Kutch Copper Ltd (KCL), a wholly owned subsidiary of Adani Enterprises, for strategic collaboration on the Caravel Copper Project in Western Australia’s Murchison region. Under the agreement, both companies will explore investment and offtake opportunities to accelerate the project toward a Final Investment Decision (FID) in 2026, combining Caravel’s world-class resource with Adani’s smelting, processing and logistics capabilities. The partnership also sets up an exclusive framework for negotiating a life-of-mine offtake agreement covering up to 100% of Caravel’s copper concentrate output—expected to be around 62,000 to 71,000 tonnes of payable copper per annum in the project’s initial years. The concentrate would supply Adani’s $1.2 billion (AUD 1.8 billion) Kutch Copper Smelter in Gujarat, billed as the world’s largest single-location copper facility. “Copper is the backbone of the global energy transition, and our partnership with Caravel Minerals strengthens India’s and Australia’s role in building a resilient and responsible supply chain for this vital metal,” said Dr. Vinay Prakash, CEO of Natural Resources, Adani. “Kutch Copper, with its world-class infrastructure and ESG standards, is delighted to align with Caravel to create a model of sustainable value creation across continents.” Live Events Strategic alignment in a copper-hungry world The Caravel Copper Project, located about 150 km northeast of Perth, is among Australia’s largest undeveloped copper resources, with a mine life exceeding 25 years and an estimated 1.3 million tonnes of payable copper. Its all-in sustaining cost (AISC) is forecast at USD 2.07 per pound, positioning it among the lowest-cost producers globally. Caravel’s Managing Director Don Hyma said the alliance with Adani’s Kutch Copper marked “a pivotal step in realising the full potential” of the project. “It brings together complementary strengths — Adani’s downstream expertise and Caravel’s world-scale resource — under a shared vision for responsible, long-term copper production,” Hyma said. As part of the agreement, KCL has secured first rights to participate in direct equity or project-level investments during the term of the MoU. The discussions are aligned with the project’s AUD 1.7 billion initial capital expenditure and designed to support phased development. Financing efforts are also advancing, with top-tier banks and Export Credit Agency (ECA)-backed solutions under discussion. The project builds on a 2023 Letter of Interest from Denmark’s Export and Investment Fund (EIFO) for Danish-sourced equipment, alongside planned debt, equity, streaming and royalty structures. Leveraging the India–Australia FTA The MoU also lays out collaborative workstreams, including co-engineering to optimise product specifications for Kutch Copper’s downstream facilities, joint procurement to fast-track delivery, and initiatives leveraging the India-Australia Free Trade Agreement (FTA) to promote cross-border resource development and workforce skilling. With global copper demand forecast to surge 50% by 2040 on the back of electrification and renewable-energy expansion, the Caravel–Kutch Copper partnership aims to strengthen critical-minerals supply chains while unlocking sustainable growth for both nations. Both companies have emphasised their strong ESG performance, highlighting a shared commitment to responsible mining and sustainable supply chains. .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)