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Steel min order on standards could hurt MSMEs; fear of losses, plant shutdowns: GTRI
Economic Times
·
1m ago
Medial
The steel ministry's updated order requires steel imports to meet Indian standards, including raw materials, causing concerns among MSMEs about potential losses and plant closures. The rule, effective from June 16, affects shipments with pre-signed contracts. The Global Trade Research Initiative highlights the industry's lack of preparation time and the extended duration required for BIS certification. Businesses now face compliance challenges, risking non-compliance declarations for goods already in transit.
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Engg exporters urge govt to seek exemptions from US on 50 pc steel duty; tariff impacting sector
Economic Times
·
1m ago
Medial
India's engineering exports are threatened by the US's increased 50% import duty on steel and aluminum products, up from 25%. Exporters urge the Indian government to seek an exemption to protect export shipments and jobs. This hike affects companies involved in global value chains, risking order losses, plant closures, and job cuts across over 25,000 MSMEs and large firms in India. Ongoing trade talks between India and the US aim to address these tariffs.
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Tata Steel reaches agreement with UK trade unions
Livemint
·
1y ago
Medial
Tata Steel has reached an agreement with trade unions in the UK, making way for a £1.25 billion electric arc furnace project at its Port Talbot plant. The project will replace two aged blast furnaces and may lead to 2,800 job losses, though it will also preserve around 5,000 jobs that would have been lost if the plant had been shut down. The UK government has promised £500 million in grants to support the transition. Tata Steel plans to begin construction on the project by August 2025.
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Stricter rules likely to curb substandard steel imports
Economic Times
·
2d ago
Medial
India plans to tighten advance authorisation norms for steel imports to curb substandard inputs entering the domestic market. Non-Bureau of Indian Standards compliant steel, reportedly sold domestically instead of for export production, results in revenue loss and disadvantages local manufacturers. The government considers shortening the Export Obligation Period from 18 to six months and removing exemptions under the Quality Control Order. These measures, including extending duties, aim to protect the domestic steel industry.
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B'luru startup's 10-min food delivery claim left users 'worried'
Inshorts
·
1y ago
Medial
Swish, a Bengaluru startup, promises 10-minute food delivery to solve long waits with quick, fresh meals in the city. Co-founder Ujjwal Sukheja launched Swish to address slow delivery times in busy areas. Users on X questioned about food quality, delivery safety, and feasibility. Critics asked whether this rapid delivery approach could compromise food standards and delivery agents' safety.
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Tata Steel’s UK plant gets a new lifeline. Will it see a revival after £4 billion loss?
Livemint
·
5m ago
Medial
Tata Steel's Port Talbot plant, previously facing £4 billion in losses, has secured local council approval for a revival plan focusing on green steel production. This includes transitioning to an electric arc furnace, reducing 2,000 jobs but preserving thousands more. With £500 million from the UK government, Tata aims to cut CO2 emissions significantly. The £1.25 billion investment aims to ensure sustainable steelmaking by 2027, marking a significant boost for the UK's steel industry.
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US drug price policy may raise costs for India, GTRI warns
Inshorts
·
2m ago
Medial
The US push to cut drug prices via a 'Most-Favoured Nation' policy may shift financial burdens to emerging markets like India, warns GTRI. Pharmaceutical giants could seek higher prices and stricter IP protections in India to offset losses. Experts urge India to resist TRIPS-plus trade demands and protect its low-cost generics model vital to global health access.
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Nutrition brand Plix partners with GoKwik to boost online presence and increase repaid Orders
Economic Times
·
4m ago
Medial
Plix, a plant-based nutrition brand, has partnered with GoKwik to enhance its online presence and boost prepaid orders. The collaboration aims to improve shopper experience and increase order conversions using GoKwik’s data-driven solutions. Plix, known for its plant-based supplements, expects higher conversions and cost efficiency from the partnership. GoKwik’s expertise in streamlining the checkout process and reducing return-to-origin losses will aid Plix’s growth in the e-commerce space.
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Trump tariffs terrify board game designers
Arstechnica
·
4m ago
Medial
New tariffs on Chinese-manufactured goods, including board games, are causing alarm among U.S. board game designers and producers. Many games are made in China due to lower costs, but the 54% tariffs threaten these cost advantages. U.S. manufacturing infrastructure isn't equipped for large-scale game production. Designers like Jamey Stegmaier and Rob Daviau fear significant financial losses and a decline in game quality. The tariffs could disrupt the market and harm local game stores.
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Trump fast-tracks supersonic travel, amid spate of flight-related executive orders | TechCrunch
TechCrunch
·
2m ago
Medial
President Trump signed an executive order directing the FAA to lift the 52-year ban on supersonic flight over U.S. soil, just weeks after bipartisan legislation was introduced with the same aim. The order requires the FAA to create noise-based certification standards, permitting faster-than-sound travel without audible sonic booms reaching the ground. This move could expedite commercial supersonic flight development. Trump also signed orders to accelerate drone commercialization and establish a task force on drone restrictions.
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Mint Explainer: Why Tata Steel is jittery about the UK election
Livemint
·
1y ago
Medial
Tata Steel is concerned that a future UK government may not honor a £500 million support deal that was struck with the current Conservative administration. The deal is part of a £1.25 billion transition plan to replace two blast furnaces with electric arc furnaces at Tata's Port Talbot Steelworks in Wales. The UK's upcoming general election has put the steelmaker on edge since the Labour party, currently favored to win, has suggested reaching a better solution that would result in fewer job losses. Tata Steel warns that political uncertainty surrounding the grant could jeopardize the project and the future of steelmaking at Port Talbot.
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