Govt Plans Mandatory Public Procurement of Green Steel

05 Aug 2025 CW Team

The Ministry of Steel is working on modalities to mandate public procurement of green steel, as part of its efforts to decarbonise the industry. A Rs 150 billion Green Steel Mission is being formulated to support emission reduction and move towards net-zero targets.

The mission will include a PLI scheme, incentives for renewable energy use, and mandates for government agencies to buy green steel. Green steel is produced with significantly lower carbon emissions compared to conventional methods.

Speaking at the India Steel Conclave 2025, a senior official said procurement mandates are under consideration, though timelines are yet to be finalised.

He also criticised the European Union’s Carbon Border Adjustment Mechanism (CBAM), calling it contrary to the spirit of free trade. CBAM proposes levies on high-emission imports such as steel, aluminium and cement from countries including India.

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 ..