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However, sin and luxury goods such as pan masala, cigarettes, luxury cars and private yachts will continue to attract the steep 40 per cent GST rate. SAIL provided about 8,000 tonnes of steel for INS Udaygiri and INS Himgiri. The pricing strategies of Nucor khelo24 login Corporation, the largest steel producer in the United States, are watched closely by manufacturers, contractors, distributors, and investors. Capgemini has sought clearance from the Competition Commission of India (CCI) to acquire full ownership of Singapore-based Cloud4C. The development comes after Capgemini announced on Tuesday that it has signed an agreement to acquire Cloud4C. While welcoming the recent rationalisation, Kharge insisted that states be fully compensated for losses, arguing the government’s delayed reforms came only after sustained opposition pressure.
The company’s adjusted EBITDA per tonne of steel rose to Rs 15,680, while net debt increased to Rs 14,400 crore. Indian steel producers are urging the government to significantly increase import quotas for low-ash metallurgical coke, citing a critical supply shortage due to rapid capacity expansion. They are requesting a near sevenfold increase, with the largest share of additional shipments sought from Indonesia, Japan, and Poland. Nippon Steel is embarking on a specific, $11 billion modernization and expansion plan for U.S. She emphasised that by centring empathy and the middle class, the reforms will allow more families to access healthcare with dignity.
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Radhika Rao, Senior Economist at DBS Bank in Singapore, said the government’s decision to lower GST rates would provide a boost to growth in the second half of this year and FY27. A move to boost affordability, revive demand, and strengthen India’s fashion supply chain Delhi… India is set to introduce emission reduction targets for its major steel manufacturers. Google news and SEO compliant, Industry Today’s state-of-the-art digital media platform offers bespoke media campaigns that target key decision makers and buyers to achieve your marketing and promotional goals. Hiring at India’s IT services companies has slowed since the start of the second quarter and the trend is likely to continue, according to staffing firms. Infosys has selected five employee-led business ideas from its in-house entrepreneurship programme to develop into client-ready solutions.
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Echoing this, senior Congress leader P Chidambaram also criticised the reforms as coming “8 years too late”. Sharing Gandhi’s earlier posts demanding an 18% GST cap, Khera asked why the BJP took so long to follow it. Gandhi had stressed that a capped GST rate would protect the poor from inflationary pressures. She added that the reforms would enhance operational efficiency while expanding the size of India’s formal economy. Glenmark Pharmaceuticals has commenced a Phase 3 clinical trial across multiple countries, including India, Russia, Brazil, and Mexico, for Envafolimab, a novel drug targeting third-stage non-small cell lung cancer (NSCLC). The trial aims to evaluate the drug’s efficacy, safety, and other key parameters in NSCLC patients.
Quoting Swami Vivekananda’s call to “arise, awake, and stop not till the goal is reached,” he stressed the need for continued momentum to expand India’s economy and global voice. Congress president Mallikarjun Kharge on Wednesday accused the Modi government of betraying the promise of “One Nation, One Tax” by creating a web of multiple GST slabs. He argued that the Goods and Services Tax, which the Congress had first proposed in 2005 under the UPA, was distorted by the BJP into what he termed “One Nation, Nine Taxes”. Calling them transformative, he said the move simplifies compliance, expands affordability, and boosts consumption, while giving industries greater confidence to invest.
Domestic raw steel production in the U.S. surged sharply last week, marking the highest weekly output since January 2022. Mills produced an estimated 1.8 million tons at a 79.5% utilization rate, up from 1.782 million tons and 78.7% the previous week. Production increased in three of five regions, led by a notable rise in the Midwest, which climbed from 234,000 to 246,000 tons. Despite this recent growth, year-to-date production remains nearly unchanged compared to last year, down by just 0.06% year-over-year.
JSW Steel and South Korea’s POSCO Group plan a major steel plant in India. This partnership builds on an earlier understanding from October 2024. BMW Industries is investing Rs 803 crore to establish a 0.5 million tonne cold rolling unit in Jharkhand, supported by the government’s PLI Scheme for Speciality Steel. This expansion will boost the company’s manufacturing capacity to 2.5 MnT and enable the production of colour-coated and advanced alloy products for various industries. Managing Director Manish Bandlish said the move would boost affordability, accessibility, and demand for packaged value-added dairy products, while also creating stronger market opportunities for farmers.
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- A high-level inter-ministerial meeting convened in New Delhi to strategize on enhancing India’s iron ore and steel sectors.
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- The government is devising strategies, including GST reforms, to mitigate the tariff’s effects.
- They are requesting a near sevenfold increase, with the largest share of additional shipments sought from Indonesia, Japan, and Poland.
- Analysts suggest a balanced approach, considering consumer prices and anticipating stable raw material costs and subdued global demand.
We connect decision-makers with the stories, strategies, and partners that drive industrial growth. Mother Dairy on Thursday announced it will pass on the benefits of reduced GST rates on dairy products to consumers. The company, which recorded a turnover of Rs 17,500 crore in the last fiscal, welcomed the GST Council’s decision to slash rates on paneer, cheese, ghee, butter, UHT milk, milk-based beverages, and ice creams. Jeff works with clients around the globe helping them navigate market access, growth, and disruption.
These ideas, focused on mobility, SaaS, and AI-led services, will receive funding, mentorship, and tech support. Those selected for full implementation will shift into the incubator role full-time and receive up to $2,000 (Rs 1.7 lakh) in rewards, Infosys had said last year. Criticising the government’s record, Kharge said the BJP imposed GST on essential items such as milk, curd, grains, books, pencils, oxygen and insurance. For the first time, farmers were also taxed, with 36 agricultural products brought under GST. “The removal and reduction of GST on essential medicines, medical devices, and health insurance will directly reduce the financial burden,” he said.
Abhay Parnerkar, CEO of Godrej Foods Limited, welcomed the government’s recent GST rationalisation, calling it a progressive step that benefits both consumers and the food industry. The Directorate General of Trade Remedies (DGTR) has suggested imposing a safeguard duty on specific flat steel product imports for three years, aiming to shield domestic manufacturers from a surge in inbound shipments. The recommended duty starts at 12% in the first year, decreasing to 11% by the third year.