India’s steel exports will drop 35-40% on-year to 10-12 million tonne this fiscal following the 15% export duty imposed on several finished steel products last month, a CRISIL Research analysis shows. Steel exports, which had reached a record high of ~18.3 million tonne last fiscal, continues to see momentum because of the disruption caused by […]
The rising costs of solar panels and components like glass, wafers and silicones, which are mostly imported from China, have forced contractors to hold up more than 3,000 MW of ground-mounted and over 300 MW of rooftop projects, eventually leading to renegotiation of contracts. Solar module prices have been trending high since mid-2020 and have […]
Amul, the pioneer of India’s white revolution, is eyeing an opportunity to turn the country into a global dairy hub. Already accounting for a fifth of the world’s milk output, the country’s share is set to grow to about a third, said Amul’s Managing Director R.S. Sodhi. “In dairy, we have lot of export potential because […]
India will temporarily withdraw duties on some steel products imposed to stop dumping mainly from China, after a spike in domestic prices hit small and mid-sized manufacturing companies. The government announced in its annual budget that it would revoke anti-dumping duties on imports of alloy-steel bars, rods and flat steel products coated or plated with […]
To garner additional revenues during the pandemic, 22 states and Union Territories have hiked duties on petrol and diesel, while 25 states and UTs have hiked duties on alcohol. The consequent rise in petrol and diesel prices is in the range of 60 paisa to Rs 8 per litre. For alcohol, the price increase is […]
The gems and jewellery industry in the country is expecting gold prices to be volatile during 2020, as the hostility between the US and Iran may continue this year. Notwithstanding the price volatility, the industry hopes that various forms of government support may help it grow 10 per cent in terms of volume during the year as […]
US President Donald Trump’s tweet last week that he will raise U.S. tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent has rattled oil and commodity markets the world over. Oil prices reacted with a sharp drop in prices. Brent crude futures offered an early verdict to Trump’s […]
The government is likely to raise the import duty on wheat from the current 30 per cent to 40 per cent to rule out any possibility of cheaper imports amid the harvesting of the new crop. The import duty increase will force flour millers to buy wheat from FCI, which is set to offload stocks […]
Palm oil imports by India dropped by about 1.7 per cent to 740,000 tonnes in April as higher taxes on shipments curbed demand in the world’s biggest buyer, according to a survey by Bloomberg. Total vegetable oil imports decreased 9.7 per cent to 1.21 million tonnes, the survey showed. The Solvent Extractors’ Association of India […]
China’s steel industry association, which represents 80 per cent of the country’s steel production, has called on Beijing to get tougher with the administration of US President Donald Trump and to threaten retaliation if Washington moves to curb Chinese steel imports, the South China Morning Post reported. It quoted Li Xinchuang, vice-president of the China […]
