Page 424 - Industry News

ISA seeks export tax on low-grade iron ore, pellets to curb local shortages

India currently does not tax exports of low-grade iron ore, but levies a 30 per cent export duty on high-grade iron ore

DCGI introduces new traceability rules to address fake medicines issue

The new guidelines have been formulated by India's drug regulatory body to ensure product traceability, which has been hindered by insufficient documentation throughout the distribution network

Why state-run oil companies are spending billions on petchem capacity

Why state-run oil companies are spending billions on petchem capacity, amid oversupply and weak margins

Used cooking oil over ethanol: Govt's new route to 5% biodiesel blending

Oil-marketing companies may expand from 200 locations to source used cooking oil

E-commerce firms focusing on quick deliveries this festival season

The e-commerce industry is poised for a 35 per cent surge in sales during the upcoming festive season, according to a TeamLease report

Olympic gold medals are worth more than ever after cost of metals surged

Even after adjusting for inflation, the value of medals is still the highest ever, with Olympians benefiting from both the sharp rally in bullion prices and increasingly hefty medals

Major cement companies report volume growth in Q1, revenue remains muted

For the first two months of FY25, the average cement price was at Rs 340 per bag, down 8 per cent YoY. In FY24, the average price was Rs 365 per bag and Rs 375 per bag in FY23

Falling prices, imports major issues for lab-grown diamond industry: GTRI

It also said that while India faces the issue of production overcapacity, it continues to import lab-grown diamonds in large amounts and this issue needs deeper investigation

Steel prices trade at 3-year lows on increased supplies, says report

Domestic steel prices have dropped to a three-year low on account of increased imports, according to a report

Focused MFs' asset base rises 31% to Rs 1.43 trillion in April-June qtr

Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints

Financial strain of disability in India high, insurance aims to bridge gap

A 2018 report by the Ministry of Road Transport and Highways (MoRTH) revealed that India, despite having only 1 per cent of the world's vehicles, accounts for 6 per cent of all road crashes

UP plans to have 30K 'surya mitras' to install solar panels in all houses

Following the launch of the PM Surya Ghar Yojana in February last year, the Yogi adityanath-led Uttar Pradesh government has installed more than 25 lakh in the state

Goyal states restoring Diamond Imprest Licence for gems, jewellery sector

In the absence of this licence, the cut and polished diamonds were getting imported in Dubai and getting assorted there and re-exported, impacting India's exports and jobs in the sector

Smartphones priced Rs 10k-20k dominate Indian market: Infinix India CEO

The stagnancy, which was in market for past two years, has changed, and market has once again started to grow back, said Kapoor who was in Lucknow for launch of Infinix latest smartphone Note 40X 5G

Tourism sector could resolve 50% of India's job challenges: Lemon Tree CMD

Expressing disappointment over govt's approach towards tourism sector, he said, 'In India, tourism contributes only 6.5 per cent to GDP and similar share in employment, but it has enormous potential'

Amit Shah urges sugar mills to diversify ethanol, biofuel production

The minister highlighted that the government's ethanol blending programme has helped reduce the country's crude oil import bill and address environmental concerns

Domestic food market likely to grow by over 47% to touch $1,274 bn: Report

Some of the key highlights of the report, which was released at the CII-FoodPro 2024 include the potential that southern states hold for food processing industry

Uncertainty in garment sector amid Bangladesh crisis, normalcy soon: FM

FM Sitharaman addresses concerns over garment sector investments in Bangladesh and urges banks to boost deposit mobilisation amidst rising economic challenges

Congress slams govt over bid to privatise steel plants, suffocate industry

Govt will not invest in them, there is evidence that it is actually systematically trying to further throttle the units to push them into losses and strengthen case for privatization, J Ramesh said

Festival season fuels temp hiring across industries, 700k new jobs expected

The festive season - which begins on August 19 with Raksha Bandhan through to Christmas and the New Year - is likely to see a boost in consumer spending, leading to a surge in temporary hires