Page 12 - Industry News

Japan's JFE Steel invests ₹7,875 crore for 25% stake in JSW Kalinga Steel

Sajjan Jindal-led JSW Steel on Monday said Japan's JFE Steel Corporation has invested Rs 7,875 crore to acquire 25 per cent stake in JSW Kalinga Steel Ltd. The investment is the first tranche of JFE's planned stake in JSW Kalinga, with 2,26,94,524 equity shares allotted to the Japanese firm on Monday, JSW Steel said in a BSE filing. "JFE Steel Corporation (JFE) has invested Rs 7,875 crore, being the first tranche of JFE's investment in JSW Kalinga Steel Ltd (JSW Kalinga) and 2,26,94,524 equity shares of JSW Kalinga have been allotted to JFE today (i.e. March 30, 2026), resulting in JFE holding 25 per cent shareholding on a fully diluted basis in JSW Kalinga," the filing said. Following the recent allotment and board changes at JSW Kalinga under the joint venture agreement (JVA), JSW Steel, and JFE Steel have established joint control over JSW Kalinga and its wholly owned subsidiary, JSW Sambalpur Steel Ltd. JFE's acquisition of an additional 25 per cent stake in JSW Kalinga for Rs

Housing sales dip 13% across 9 cities in Q1 amid West Asia conflict: Report

Housing sales across nine major cities fell 13 per cent annually during January-March quarter to 98,761 units on lower fresh supply of inventories amid West Asia conflict, according to PropEquity. Real estate research firm PropEquity on Monday pointed out that the sales have fallen below 1 lakh units mark after 18 quarters. The nine major cities are Delhi-NCR, Mumbai, Navi Mumbai, Thane, Bengaluru, Pune, Hyderabad, Chennai and Kolkata. As per the data, housing sales fell 13 per cent to 98,761 units during January-March this year compared to 1,13,602 units in the year-ago period. The total sales in these nine cities declined 6 per cent from 1,05,527 units in the previous quarter (October-December 2025). Samir Jasuja, Founder & CEO of PropEquity said, "Housing sales continued to moderate in the first quarter of 2026 with Delhi-NCR and Bengaluru emerging as outliers. This reduction is on account of low supply across most cities. Close to 22,000 lesser units were supplied in Q1 2026 ..

Locals seek affordable fares as PM Modi inaugurates Noida airport

Welcoming the inauguration of the Noida International Airport, several locals on Saturday urged the government to ensure affordable airfare so that the facility benefits not just the affluent but also the economically weaker sections. Prime Minister Narendra Modi inaugurated the first phase of the airport on Saturday at Jewar in Gautam Buddh Nagar district. The project has been developed under a public-private partnership (PPP) model by the Yamuna International Airport Private Limited, a subsidiary of Zurich Airport International AG. Uttar Pradesh Chief Minister Yogi Adityanath, Governor Anandiben Patel, Civil Aviation Minister Kinjarapu Ram Mohan Naidu and other dignitaries attended the inauguration ceremony. Thousands of locals also attended the event and shared their expectations from the airport, with many emphasising the need for affordable air travel. Speaking to PTI Videos, Sanjay Kumar, a local, said the project would be truly successful only if it became accessible to the

Commercial flights from Noida airport to start in 45-60 days: Naidu

Commercial flight operations from the Noida International Airport will start in the next 45 to 60 days, Civil Aviation Minister K Rammohan Naidu said on Saturday. The Noida International Airport (NIA), located in Jewar, Uttar Pradesh, was inaugurated by Prime Minister Narendra Modi on Saturday. Naidu said flight operations from the airport would start in 45 to 60 days. Security plans for the airport are being worked out and IndiGo is keen to start flights from the airport, he told media persons. Earlier in the day, billboards and cutouts of Prime Minister Narendra Modi and Uttar Pradesh Chief Minister Yogi Adityanath dotted the approach road towards the venue where bhajans and songs filled the air before the formal inauguration. People poured in to the venue having elaborate and segmented seating arrangements under an expansive shamiana. Among the largest greenfield airport projects in the country, NIA, located in Jewar, Gautam Buddh Nagar district of Uttar Pradesh, will initiall

Haryana begins mustard procurement, wheat procurement to start April 1

Haryana Chief Minister Nayab Singh Saini on Saturday directed officials to ensure that farmers coming to mandis to sell their crops during the Rabi procurement season 2026-27 do not face any inconvenience. Saini was presiding over a meeting of officials from the Food and Civil Supplies Department and other agencies related to crop procurement here. He also reviewed the arrangements made for the Rabi procurement season. Procurement of wheat will begin from April 1, 2026, and a target of 72 lakh metric tonnes has been set by the Government of India for this Rabi procurement season, an official statement said. Procurement of mustard has commenced from March 28. This year, the state government plans to procure approximately 13 lakh tonnes of mustard. Out of this, 25 per cent will be procured under the Price Support Scheme through central agencies (NAFED and NCCF), while the remaining 75 per cent will be procured by state agencies (HAFED and Haryana State Warehousing Corporation in a 50:

India signals shift on e-commerce tariff moratorium, resists US push

Business leaders say an extension is critical to guarantee predictability, fearing duties could be introduced if the agreement lapses

Strategic M&As start to dominate India's deep-tech exit landscape

Investors say strategic M&As will lead deep-tech exits in India, with IPOs and secondary deals gaining ground as the ecosystem matures and global firms seek proprietary technology

Sports logistics movement adapting to global volatility: DP World's Ruia

The firm is expanding its presence in golf and formula 1 after being global logistics partner to International Cricket Council

West Asia conflict: Bankers suggest Covid-like moratorium for MSMEs

Flag cash-flow risks to RBI, Centre amid West Asia war

DGCA is looking to ease rules for airlines to help them grow: Chief

The Directorate General of Civil Aviation (DGCA) is trying to promote ease of doing business for airlines to help them grow and flourish as well as taking steps for passenger rights, its chief Faiz Ahmed Kidwai said on Thursday. There are big challenges for airlines, including taking longer routes and higher operational costs due to airspace restrictions, he said, expressing hope that there would be "better days". The ongoing West Asia conflict is posing more challenges for airlines, which have curtailed services to the region. "It is not only passenger rights which we are looking at... we are trying to ease things for the airlines also and the rules and regulations which are there, promote ease of doing business because we want our airlines to grow and flourish," Kidwai said. He said many airlines have gone bust in India and emphasised the need to support carriers. India is one of the world's fastest-growing civil aviation markets and the DGCA as well as the civil aviation minist

WTO MC14: India resists US push to make ecommerce duty moratorium permanent

At WTO MC14, the US seeks to make the e-commerce duty moratorium permanent, while India resists, citing revenue loss concerns and the need for policy space

Fertiliser output may fall 10-15% if West Asia crisis persists: Crisil

India's annual domestic output of urea and complex fertilisers is likely to decline by 10-15 per cent due to supply chain disruptions caused by the ongoing conflict in the Middle East, a Crisil Ratings report said on Thursday. "The ongoing issues in the Middle East could disrupt the fertiliser supply chain at a crucial time for the kharif season. Disruption in LNG and ammonia supplies continuing for about three months could cut domestic urea and complex fertiliser production by 10-15 per cent," Crisil Ratings Director Anand Kulkarni said. However, he said the impact on production will be cushioned to some extent by the recent government directive allocating 70 per cent of gas to urea manufacturers. He added that the fertiliser inventory of around three months, along with expected imports from alternative sources, will mitigate the risk of immediate supply shortages. Further, Crisil Ratings said the increase in prices of raw materials and imported fertilisers is likely to increase .

Indian airlines to operate 10% fewer domestic flights in summer: DGCA

Indian airlines are set to operate a little over 23,000 weekly domestic flights during the summer schedule starting from March 29, which is 10 per cent less than the services flown during the same period a year ago. Aviation watchdog DGCA has published the domestic flights summer schedule, which is from March 29 to October 24, for nine scheduled airlines. A senior DGCA official on Thursday told PTI that the airlines would be operating around 10 per cent fewer flights in 2026 summer schedule compared to the previous summer schedule. During the 2025 summer schedule, there were 25,610 weekly flights and this time, a 10 per cent reduction would mean the number of services will come down by 2,561. Accordingly, the total count will be about 23,049 weekly flights, as per an analysis. The Directorate General of Civil Aviation (DGCA) has put out the airline-wise domestic summer schedule for 2026 on its website but has not provided a consolidated figure and comparison with the previous summe

A month of LPG supply arranged amid West Asia conflict, says govt

The demand for LPG cylinders had risen to 89 lakh due to panic ordering by consumers and has now come down to 50 lakh cylinders again

West Asia crisis hits scrap imports, drives up costs: Recycling industry

Freight cost surge, insurance pullback and port shutdowns disrupt supplies; aluminium scrap prices jump

India asks auto industry to optimise output as Iran conflict hits supplies

The government has already prioritised use of gas for households over industries, which get only about 80 per cent of their average needs

Regulator approves real estate projects worth ₹5,200 crore in Noida

These 24 projects encompass 7,830 residential and commercial units, contributing to urban development and expanding housing and commercial infrastructure

British Airways to add extra Delhi, Mumbai flights amid West Asia crisis

British Airways will operate additional flights from Delhi and Mumbai for a short term to meet the traffic demand amid the disruptions due to the West Asia crisis. From April 7 to May 31, the airline will operate a third daily flight from Delhi to London Heathrow and from Mumbai, it will have a third daily flight to London Heathrow from May 15 to 31, a release said on Thursday. "The airline is adding short-term capacity on these routes to meet strong demand and provide customers with greater choice and flexibility when travelling between India, the UK and beyond," it said. With the additional capacity, British Airways will operate up to 63 weekly flights with more than 1,000 additional seats per week between India and the UK. British Airways' Chief Planning and Strategy Officer Neil Chernoff said the airline has been able to reallocate additional capacity to meet strong demand to other destinations across its route network and that India remains one of its most important global ...

DGCA seeks corrective steps from Air India over Vancouver flight error

Aviation watchdog DGCA has asked Air India to take corrective measures after the airline deployed a wrong aircraft for operating a flight to Vancouver last week, a senior official said on Thursday. Action has also been taken against an airline official for the incident, the senior official at the Directorate General of Civil Aviation (DGCA) told PTI. A Vancouver-bound Air India Boeing 777-200 LR aircraft, after being airborne for over seven hours, returned to Delhi on March 19 after it was found that the plane was not approved for operating the flight. The approval is only for Boeing 777-300 ER to operate that flight. Following the incident, the Directorate General of Civil Aviation (DGCA) had sought a report from the airline. Air India has been asked to take corrective measures to ensure that such incidents do not happen again, and action has also been taken against an airline official, the DGCA official said. Specific details could not be ascertained. There was no immediate com

Infra projects above ₹150 cr report ₹5.66 trillion cost overrun: Govt

Several infrastructure projects worth above Rs 150 crore each registered a cumulative cost overrun of Rs 5.66 lakh crore, according to a monthly government report for February 2026. The latest 'Flash Report on Central Sector Infrastructure Projects' showed that the revised cost of all 1,948 projects, each valued at Rs 150 crore or higher, monitored by the statistics ministry stood at Rs 41,98,684 crore compared to their original cost of Rs 36,32,088 crore. The report did not specify the actual number of projects that are facing cost overrun. The Ministry of Statistics and Programme Implementation (MoSPI) stated, in a press release on Wednesday, that as of February 2026, 1,948 ongoing infrastructure projects, with a total revised cost of Rs 41.98 lakh crore, are being monitored across 17 central ministries/departments. The cumulative expenditure incurred on these projects stands at Rs 19.71 lakh crore, accounting for approximately 46.95 per cent of the revised project cost, indicati