Sanjeev Sanyal, Principal Economic Adviser, Ministry of Finance, Government of India, recently unveiled the 4th edition of the FICCI-PwC Strategy& India Manufacturing Barometer (IMB) survey, which as in previous years, reveals that India continues to remain an economic bright spot. As per the United Nations, the world economy expanded by only 2.2 per cent in 2016 — the slowest growth rate since the 2009 recession. The outlook for the Indian economy and its core sectors continues to remain upbeat
Category: Materials
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Bihar becomes second state to pass GST Bill
The Bihar Goods and Services Tax (GST) Bill, 2017 has been passed by the stateÂ’s legislature. Bihar has become the second state after Telangana to adopt the new tax regime.
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CREDAI protests cement price hike, seeks Centre’s intervention
The Confederation of Real Estate Developers’ Association of India (CREDAI) has sought government intervention to check rising cement prices. The entity said that the spike could “create unnecessary roadblocks and impediments” in achieving the goal of ‘Housing for All’ by 2022. Cement prices have witnessed a sudden jump of 20-40 per cent over the past two months across the country, says CREDAI.
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Minister wants Big Data analytics & application centre for steel producers
Chaudhary Birender Singh, Minister for Steel, Government of India, has called for primary and secondary steel producers to “come together” to establish a ‘Big-data Analytics & Application Centre for Steel’ with the objective of pooling resources and information available with all steel companies and analysing the collated data. He was addressing a gathering of top executives from the steel industry at the ‘India Steel 2017’ conference which was recently organised by FICCI in Mumbai.
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Railway Minister inaugurates first SFTO rake carrying steel coils
Sudanshu Pathak, Vice President, Steel Manufacturing, Tata Steel, who ceremonially flagged off the rake from Tata Steel Jamshedpur, lauded this long-awaited initiative of Indian Railways, Tata Steel and TMILL resulting in an efficient and sustainable outbound logistics solution for Tata SteelÂ’s finished products.
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DuPont Sustainable Solutions announces Safety and Sustainability Awards
DuPont Sustainable Solutions is seeking applications for the 13th edition of the DuPont Safety and Sustainability Awards.
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Cost of production increases significantly, impacting manufacturing competitiveness: FICCI survey
FICCIÂ’s latest quarterly survey has reported a decline in the outlook for the sector for Q-4 of 2016-17 due to rising cost of production, which has impacted the competitiveness of the sector in the last few months.
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Mitsubishi Corp to be part of Europe’s largest battery storage project in Germany
Mitsubishi Corporation (MC) has announced that it will be working through Enspire ME, a fifty-fifty joint venture established between MC and Eneco, an integrated energy company from the Netherlands, to provide services based on a large-scale battery energy storage system (BESS).
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Infra push to see cement demand improve to 5percent in FY18, says ICRA
An expected revival in the infra space may help cement demand to grow to around 4 to 5 per cent in the next fiscal, according to ratings agency ICRA.
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Essar Steel IndiaÂ’s flat steel production up 47percent in FY2016-17
Essar Steel India Limited (EStIL) has substantially improved its performance for the year ended March 31, 2017. The total flat steel production registered a growth of 47 per cent at 5.6 million tonnes (MT), compared to 3.8 MT in the corresponding period last year. Pellet production also grew by 60 per cent to 9.3 MT compared to 5.8 MT in the same period last year.