Tata Steel reports 2% YoY decrease in exports

07 Jul 2022 CW Team

Due to a tax imposed on steel exports by the government in May, Tata Steel India saw a two percent decrease in overall deliveries year over year.

Tata Steel reported provisional production and delivery figures for Q1FY23. Domestic production increased by 6% to 4.92 million tonnes (mt), but deliveries to both domestic and international destinations decreased by 2% to 4.06 mt.

The company blamed the decline on exports slowing down after a 15% export duty was imposed.

The export levy, which took effect on May 22 and will affect 95% of the country's finished steel export basket, was anticipated by the market to result in lower deliveries by steel companies.

On a quarter-over-quarter (QoQ) basis, Tata Steel's deliveries were down 20.70%. The business claimed that domestic dispatches were up 5% YoY thanks to a powerful marketing network and an adaptable business model.

According to Tata Steel, deliveries to the automotive and special products segment increased by 22% YoY as a result of a general recovery across all sub-segments. Deliveries for the retail segment and branded goods were largely comparable. On the strength of an increase in sales of value-added products to important segments like engineering, dispatches to the industrial products & projects segment increased by 8% YoY.

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..