Centre Imposes 12% Safeguard Duty to Protect Indian Steel Industry

22 Apr 2025 CW Team

The Union Minister for Steel and Heavy Industries, Shri H. D. Kumaraswamy, has welcomed the government’s decision to impose a 12% safeguard duty on the import of certain non-alloy and alloy steel flat products. This move is designed to shield domestic steel manufacturers from the adverse effects of a surge in steel imports, ensuring fair competition within the market.

Minister Kumaraswamy stressed that the decision would provide essential relief to domestic producers, particularly small and medium-sized enterprises (SMEs), who have been under significant pressure due to the influx of imports. "This safeguard duty will help stabilise the market and restore confidence within the domestic industry," he remarked.

The Minister also expressed his gratitude to Prime Minister Shri Narendra Modi for his decisive leadership and ongoing support for strengthening key sectors under the Atmanirbhar Bharat initiative. Kumaraswamy reaffirmed the Ministry’s commitment to collaborating with all stakeholders to ensure that the Indian steel sector remains resilient, self-reliant, and competitive on a global scale.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..