Gujarat's Stainless Steel MSMEs Grapple with Chinese Dumping

08 Jan 2024 CW Team

In a concerning development, nearly 35% of Gujarat's stainless steel Micro, Small, and Medium Enterprises (MSMEs) had to close their doors during Q2 FY24. The surge in closures is attributed to the adverse impact of Chinese dumping on the local stainless steel industry. The Indian Stainless Steel Development Association (ISSDA) Chief highlighted the severity of the situation, shedding light on the challenges faced by these businesses. Chinese steel products flooding the market at lower prices have led to increased competition, making it difficult for local MSMEs to sustain operations. The repercussions of this economic strain are reflected in the significant number of closures witnessed in the second quarter of the fiscal year. This downturn poses a threat not only to the affected businesses but also to the broader economic landscape of Gujarat. As the MSMEs grapple with closures, there is a looming concern about the unemployment spike and the ripple effects on the local economy. The ISSDA Chief emphasized the urgency for intervention and support from the authorities to safeguard the interests of Gujarat's stainless steel MSMEs. The situation calls for strategic measures to address the challenges posed by external factors, ensuring the resilience and sustainability of these crucial components of the state's industrial fabric.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..