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Pankaj Chadha, chairman of engineering exports body EEPC India, said the measure will help steel mills, particularly smaller units, maintain production. “Steel is a key segment of the engineering goods sector, and its shortage could severely impact the production chain. The additional LPG allocation should minimise supply bottlenecks and ensure steady output,” he added. View More
India has removed guardrails for companies from neighboring countries bidding on Bharat Heavy Electricals Limited (BHEL) projects. A five-year relaxation from prior registration requirements has been granted for 21 critical items, allowing Chinese bidders to participate. This exemption covers advanced industrial materials not readily available domestically. View More
India has removed guardrails on companies based in the neighbourhood bidding for Bharat Heavy Electricals Limited (BHEL) projects. A Committee of Secretaries (CoS) has granted a five-year relaxation to BHEL tenders for 21 items from Rule 144(xi) of General Financial Rules , 2017, officials said. Sector watchers say this exemption will allow Chinese bidders to participate in BHEL tenders. “Exempted critical items cover a vast range of advanced industrial materials that are not readily available in the required quantities in the country,” a senior official told ET. These include Cold-Rolled Grain-Oriented (CRGO), and High-quality sulfate insulating Capacitor Paper. The exemption also covers specialised components like generator, along specific grades of alloy and carbon steel seamless pipes, tubes, and steel plates with high thickness. An Air Cooled Condensor is also listed among these critical inputs. BHEL’s order inflow stood around Rs 45,900 crore up to Q3FY26. The public sector undertaking has an outstanding order book of Rs 2.23 lakh crore broadly spread across power, defence, and mobility verticals. This five-year relaxation is from prior registration requirements mandated for bidders from countries sharing a land border with India. Live Events The Union Cabinet approved changes in guidelines on investments from countries sharing land border with India (LBCs) earlier this month. Under amendments to the country’s Foreign Direct Investment (FDI) policy. Investors with non-controlling LBC Beneficial Ownership of up to 10 percent shall be permitted under the automatic route as per the applicable sectoral caps, entry routes, attendant conditions. .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 has already allotted 40% of the pre-crisis quota to commercial users. Besides, states have been offered additional 10 per cent LPG if they move ahead on certain reforms to promote PNG View More
Despite a 10% drop in the last month, JSW Steel's stock is up 4% in three months and 7.5% in a year. A board meeting is set for May 14, 2026, to discuss financial results. View More
India is set to hold talks with Argentina, Indonesia, and Oman next month to secure vital steelmaking raw materials like coking coal and iron ore, alongside accessing new technologies. These discussions aim to bolster supplies for its growing steel industry and support its transition to cleaner energy sources. View More
India will hold talks with Argentina, Indonesia and Oman next month as it seeks to boost supplies of steelmaking raw materials such as coking coal and iron ore, and access technology, two sources with direct knowledge told Reuters. The talks are expected to begin next month at a global steel summit , described by the Indian government as the country's largest international conference-cum-exhibition, said the sources who did not wish to be identified as the plan was not yet public. India, the world's biggest crude steel producer after China, relies on ferronickel imports for stainless steel manufacturing, with Indonesia holding the world's largest nickel ore reserves. The country also imports large quantities of iron ore from Oman and Brazil, with which it signed a deal last month to expand cooperation in mining and minerals, as it seeks to meet rising domestic steel demand. With Argentina, India aims to secure imports of lithium and other critical minerals for New Delhi's state miner NMDC, the sources said. Live Events The steel ministry and NMDC did not immediately respond to Reuters' emails seeking comment. Argentina is the world's fourth-largest producer of lithium, a key component in batteries for electric vehicles and renewable energy storage. In January, the Indian government said it wants to secure stable supplies of key raw materials such as coking coal, lithium, cobalt and rare earth elements as it expands steel production and accelerates its transition to cleaner energy. Besides meeting rising domestic demand driven by strong economic growth and higher infrastructure spending, India is also seeking to boost steel exports. New Delhi is diversifying its steel export markets from Europe to Asia and the Middle East to offset the impact of the European Union's carbon tax, driving higher output and greater demand for raw materials. Amid concerns over securing raw material supplies from overseas, India's steel sector is grappling with a severe gas crisis- spurred by the war in the Middle East - that has threatened production at small steel units, while a unit of the JSW Group has also warned of a potential shutdown. .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)
Jindal Steel International's proposed acquisition of Thyssenkrupp Steel is facing delays due to unresolved pension-related issues with German authorities. While talks remain active, further assurances from German stakeholders are needed to move forward with the deal, which includes plans for a green steel facility. View More
Steel plants face LPG shortages. The Steel Ministry has raised this issue with the Petroleum Ministry. The Iran war has reduced gas availability. The government is prioritizing cooking gas over industrial use. Steelmakers need alternative propane supplies from countries like Russia. This disruption could affect other essential inputs for steel production. View More
New Delhi: The steel ministry has communicated industry concerns about LPG supplies for domestic steel plants to the Ministry of Petroleum and Natural Gas, a senior official said. Steelmakers use LPG for heating steel slabs, blooms and billets to rolling temperatures. The Iran war has crippled availability of the gas, and the government has prioritised supplies to homes for cooking while cutting down allocation for industrial use. "Industry concerns have been forwarded to the oil ministry," the steel ministry official said. In a representation to the government earlier this month, domestic steel producers said propane (LPG) supplies from alternative sources such as Russia are urgently needed to ensure uninterrupted operations in steel mills and downstream industries. Industry representatives say these fuels offer higher calorific values, better temperature control and significantly lower emissions of carbon and sulphur compared to alternatives like light diesel oils (LDO) and low sulphur heavy stock (LSHS). Besides, it also serves as the input for manufacture of HNO3 (nitric acid), calcined lime and ammonia, all of which are required in the manufacturing of stainless steel. Live Events "The disruption is not limited to propane/LPG but there will be a cascading effect in terms of availability of other inputs as well," a sector watcher told ET. Steel industry is already facing problems with fuel suppliers expressing their inability to supply the required quantities, he said. .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)
Dilip Oommen, CEO of AM/NS India, will retire at the end of June. Amit Harlalka, the current chief financial officer, will take over as CEO. Oommen will continue as a board member and vice-chairman of ArcelorMittal India. Harlalka joined AM/NS India in 2019. AM/NS India is a major flat steel producer in India. View More
Mumbai: AM/NS India chief executive Dilip Oommen will retire at the end of June this year and be replaced by Amit Harlalka, who is currently its chief financial officer, the joint venture between ArcelorMittal and Nippon Steel said Thursday. Oommen will remain a board member of the steelmaker and also be vice-chairman of ArcelorMittal India, it said. Oommen, currently 68 years old, has been with the company for 22 years, including when it was Essar Steel. ArcelorMittal and Nippon Steel acquired Essar Steel out of bankruptcy in 2019. “A highly experienced steel industry executive, he knew the operations inside-out, brought stability at a time of change, and played a critical role in helping establish trust as we built the ArcelorMittal Nippon Steel brand in India,” AM/NS India chairman Aditya Mittal said in a news release. Harlalka joined AM/NS India in 2019. He was with ArcelorMittal before that. Live Events AM/NS India is one of the largest producers of flat steel in India, and currently has a plant in Hazira with a capacity of 9 million tonnes. It is currently expanding capacity to 15 million tonnes and is set to start work on a greenfield plant at Anakapalli in Andhra Pradesh to add 8.2 million tonnes of capacity in the first phase. .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)
Saudi Arabia’s Finance Minister Al-Jadaan said that while oil has dominated media coverage, it is refined products – including fertilisers, steel and aluminum – that have been most affected due to the ongoing war. View More