India discussing measures to address rising steel imports, minister says

20 Sep 2024 CW Team

India is currently engaged in discussions to address the issue of rising steel imports, according to Steel Minister HD Kumaraswamy. While the minister did not provide specific details, he emphasized that increasing imports pose a significant challenge for steel producers, even as the demand for the metal continues to rise. Kumaraswamy made these remarks during an industry event.

India, the second-largest producer of crude steel globally, remained a net importer of steel during the fiscal year ending in March 2024, and this trend continued from April to July. China was the leading exporter of steel to India during this period, followed by Japan and South Korea.

The rise in imports has exerted downward pressure on local steel prices, which have dropped to their lowest point in more than three years, according to data from commodities consultancy BigMint. Earlier in the month, Kumaraswamy had mentioned that his ministry would attempt to persuade the finance ministry to increase tariffs on steel imports, aiming to protect domestic manufacturers from the influx of cheaper imports, particularly from countries like China.

In August, India launched an anti-dumping investigation into certain steel products imported from Vietnam. This decision came in response to concerns raised by major Indian steelmakers, including JSW Steel and ArcelorMittal Nippon Steel.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..