It is reported that automotive exhaust system manufacturers and exporters in India, which uses high grade imported stainless steel for producing critical exhaust components for cars and other vehicles, have strongly opposed protested against the proposed levying of anti dumping duty on import of stainless steel. As per report, union commerce ministry has recently recommended levying of anti dumping duty on…

BS reported that the Indian automobile industry is looking up to the newly elected government to implement some key measures to kick start car sales. Top on their wish list is ensuring availability of auto loans at lower rates of interest, continuation of some of the sops announced earlier in a stimulus package and a reduction in taxes. Mr Pawan Munjal MD of Hero Honda said “With regard to the two-wheeler…

India is going places. Four days after the news that the country had overtaken Japan to become the world's second largest crude steel manufacturer, there’s some more news about the country's growing production numbers. India has now overtaken the United States to emerge as the second largest producer of castings, behind China, a top functionary of the Indian Institute of Foundrymen (IIF), said today in…

ET reported that consumers have begun coming back to car showrooms following the recent cut in interest rates. But manufacturers say a further excise cut would fuel faster growth in the coming months. According to sourced, a sustained reduction in excise duties since 2003 led to a 20% to 24% drop in car prices fuelling growth in the passenger car market. In 2008, the government levied an additional excise…

Working towards development for more than a decade now should be fruitful and the PM´s theme is becoming more realistic for India´s future. IFEX 2018 and the 66. Indian Foundry Congress followed the President´s theme for the year and held the biggest IFEX ever with more than 300 exhibitors and the congress with about 1.500 delegates. The current IIF President Amish Panchal announced with pride that the…

IFEX 2024 – 20 th International Exhibition on Foundry Technology, Equipment, Supplies and Services concurrent with 72 nd Indian Foundry Congress will be an excellent platform for the Indian as well as overseas companies to showcase their state-of-the-art technologies and services being offered to this vibrant industry to get exposed to new business opportunities. India is 2 nd largest producer of castings…

CHENNAI (India) - In the next two years, India is likely to overtake Japan to rank as the third largest casting producer in the world. However, it requires additional investment of $1.5-2 billion, V. Mahadevan, president of the Institute of Indian Foundrymen, said on Wednesday. He was addressing reporters on the eve of the three-in-one mega event of 68th World Foundry Congress, 56th Indian Foundry Congress…

Under requests of Indian Hindalco, NALCO and Vedanta Resources to stop China's low cost aluminum products from entering the Indian market, the government of India is expected to impose up to 35% import tariff protection for some aluminum products in order to protect the local aluminum industry. Designated products include flat rolled aluminum products, mainly for automotive and building industries and…

The interruption of steel exports effected by both state-backed and private producers since late March could cost mills $100 million per year in lost revenue, a senior executive at the Steel Authority of India told Tuesday, adding that the move had so far succeeded in limiting steel price inflation. The SAIL executive estimated that exported primary steel products sold on average at $20-25/mt more than on…

India is expected to emerge as the third largest consumer of steel in 2011, after China and the United States, buoyed by a focus on building infrastructure and strong growth in the automobile and consumer goods sectors. Demand in India will rise 13.6% in 2011 to 68 million tonnes, the World Steel Association predicted in October. Growth in global steel demand, however, is likely to slow to 5.3% in the year,…