India’s Steel Ministry is working on strengthening reporting norms for import shipments, and the reporting portal is being ramped up. This comes in the wake of several “suspected” instances of misreporting or under-reporting of shipment details, an official aware of the plans told businessline. Apart from working on the Green Steel policy and exploring alternative … Read more
The Steel Ministry is expecting ₹10,000 crore of investments in specialty steel-making by PLI short-listed companies next year. Nearly ₹16,000 crore is expected by the FY24-end, Nagendra Nath Singh, Union Steel Secretary said. Also read: Big Story: What’s in store for steel and base metals The Ministry is looking into the issue of increasing imports, … Read more
The default value for carbon emissions released by the EU recently could have an impact on Indian steel and cement exporters if these numbers are taken as a benchmark to calculate carbon tax dues under the proposed Carbon Border Adjustment Mechanism (CBAM), per industry estimates. Taxation under CBAM starts in 2026. For the transitional period … Read more
India’s steel exports grew over 30 per cent month-on-month and 43 per cent YoY to 0.9 million tonnes (mt) in January. Moderation in imports and a corresponding uptick in outbound shipments notwithstanding, the country remained a net importer for the first 10 months of the fiscal (April – Jan), according to provisional data of the … Read more