BSNL will roll out 4G and 5G compatible over-the-air (OTA) and Universal SIM (USIM) platform which will enable subscribers to choose their mobile numbers as well as replace SIMs without geographical restrictions

New Delhi: State-run telecom firm Bharat Sanchar Nigam Limited (BSNL) will roll out 4G and 5G compatible over-the-air (OTA) and Universal SIM (USIM) platform which will enable subscribers to choose their mobile numbers as well as replace SIMs without geographical restrictions.

BSNL said that the platform, developed in collaboration with Pyro Holdings, was inaugurated in Chandigarh, with a disaster recovery site in Trichy.

"The new 4G and 5G compatible platform is designed to serve all BSNL customers across the country, offering unparalleled connectivity and service quality," BSNL said on Friday.

The company is rolling out 4G network gradually across the country.

"The introduction of this platform coincides with BSNL's ongoing network upgrades to 4G and 5G, positioning the company at the forefront of telecommunications innovation. This milestone represents a significant step in BSNL’s efforts to bridge the digital divide and empower citizens in rural and remote areas, ensuring equitable access to advanced telecommunications services," the statement said.

The over-the-air (OTA) and Universal SIM (USIM) platform provides BSNL mobile subscribers with the flexibility to choose mobile numbers on the fly and enables SIM replacement without geographical restrictions, the statement said.

"This platform will be immensely useful for customers seeking SIM replacement without geographical restrictions, aiding in modification of SIM profile and remote file management on SIM cards. Moreover, it enables SIM swaps to be performed anywhere in the country," BSNL Chairman and Managing Director Ravi A Robert Jerard said.

Union telecom minister Jyotiraditya Scindia earlier this month said that BSNL will install 80,000 towers for 4G services by the end of October and the remaining 21,000 by March 2025.

The company has launched 4G services in select locations including Punjab on indigenously developed network equipment.

The Reserve Bank's decision to keep the benchmark rate unchanged was on the expected line and the four banking sector concerns it raised are directed at safeguarding financial stability, top bankers said on Thursday

New Delhi: The Reserve Bank's decision to keep the benchmark rate unchanged was on the expected line and the four banking sector concerns it raised are directed at safeguarding financial stability, top bankers said on Thursday.

"RBI has kept the repo rate and stance of the policy unchanged and this is on the expected lines," Indian Banks' Association chairman and Central Bank of India's CEO M V Rao said.

RBI Governor Shaktikanta Das, while unveiling the bi-monthly monetary policy, also highlighted four potential risks to the banking sector. These are structural liquidity issues arising out of banks' recourse to short-term non-retail deposits; excessive leverage through retail loans for consumption purposes; end-use of top-up housing loans; and risk arising from IT outages.

Stating that these issues are significant for the overall financial stability, Rao said that the policy delivered "a nudge to all financial institutions on the potential risks to financial stability which warrants close monitoring".

It can be noted that the RBI's rate-setting Monetary Policy Committee opted to hold rates for the ninth consecutive time in the policy review citing risks on the inflation and the need to align the retail inflation with the target of 4 per cent.

SBI chairman Dinesh Khara said food inflation needs to be monitored carefully even as monsoon rains could provide relief, and welcomed the regulatory changes proposed in the policy.

"The decision to have a public repository of digital lending apps would ensure an orderly development of the digital lending market. The decision to increase the frequency of reporting of credit information would enable borrower risk assessment on a real-time basis. The changes to UPI transaction limits and delegated payments would further deepen the use of digital payments. The new cheque clearing norms will ensure 'on realisation settlement'," he said.

Shriram Finance's executive vice chairman Umesh Revankar said RBI has cautioned banks and financial institutions about the need to build strong frameworks to ensure operational resilience to buffer themselves from global volatility.

Tata Capital's Rajiv Sabharwal said prudent lending practices, maintaining rigorous underwriting standards and post-sanction monitoring are crucial for NBFCs to mitigate risks and achieve sustainable growth.

State-owned Indian Overseas Bank's Ajay Kumar Srivastava said the decision to keep the repo rate unchanged at 6.5 per cent as well as project a GDP growth for FY25 at 7.2 percent is a well-balanced measure.

New Delhi: India's logistics cost is expected to decline to 9 percent of GDP by April next year, according to Union Minister Nitin Gadkari, who made the announcement on Thursday. Speaking at an event, Gadkari emphasized that this reduction in logistics costs will also lead to a significant increase in the country's exports as costs approach single-digit levels.

Currently, India's logistics costs stand at 16 percent of GDP, but the minister is confident that this figure will drop dramatically within the next year. This reduction aligns with broader economic goals to enhance the efficiency of India’s logistics sector, which has been a significant barrier to global competitiveness.

Gadkari's projections contrast with estimates from the National Council of Applied Economic Research (NCAER), which had previously assessed logistics costs in India to range between 7.8 percent and 8.9 percent of GDP during 2021-22. Regardless, the push towards reducing logistics costs remains a key priority for the government.

During his address, the Road Transport and Highways Minister also highlighted the need for the Indian economy to generate more employment opportunities. He pointed out that previous governments did not sufficiently prioritize the rural sector, a gap that the current administration under Prime Minister Narendra Modi is working to address by focusing more on agriculture.

Gadkari stressed the importance of boosting agricultural growth and increasing per capita income in rural areas as part of the government's broader strategy. He also noted that India, currently the fifth-largest economy globally, is on track to become the third-largest economy, owing to its rapid growth.

The exercise involves simulating real-world combat scenarios to train soldiers in the unique challenges posed by such terrains.

Leh: The Indian Army has conducted a strategic military exercise, ‘Parvat Prahaar’, in Ladakh. The exercise which is fortnight long in duration aims on high-altitude warfare and operations.

The ‘Parvat Prahaar’ exercise focuses on mountainous and rugged terrains, such as those found in regions like Eastern Ladakh. This exercise is vital to keep the force ready and effective in the region, and across the India-China border.

The exercise involves simulating real-world combat scenarios to train soldiers in the unique challenges posed by such terrains. Various arms of the Army, including infantry, armoured, artillery, and support units, are participating in this drill. Different kinds of tanks, artillery guns including K-9 Vajra, air-defense systems, UAVs, and other aviation assets of the Army are showcasing their operability and war preparedness, according to officials.

The Mountain Strike Corps of the Northern Command, which is responsible for operations in this sensitive region along the Line of Actual Control (LAC), is involved in the exercise. The strategic location of the region and its proximity to China make the ‘Parvat Prahaar’ an important drill, officials noted.

India and China have been locked in a military standoff for more than four years since the Galwan clash, with numerous rounds of talks at both military and political levels failing to achieve significant progress.

New Delhi: JSW Energy announced on Thursday that its wholly-owned subsidiary, JSW Neo Energy Limited, has successfully secured a significant order from the Solar Energy Corporation of India (SECI) for the supply of 230 MW of power from its renewable energy project. The award was granted following a competitive tariff-based bidding process, reflecting JSW Energy's growing influence and commitment in the renewable energy sector.

This achievement is part of a broader initiative by SECI to procure 630 MW of firm and dispatchable power from renewable energy projects connected to the interstate transmission system (ISTS). The specific project, identified as SECI-FDRE-IV, represents a critical component of India's transition toward sustainable energy sources.

JSW Neo Energy Limited's successful bid underscores the company's strategic focus on expanding its renewable energy portfolio, in line with JSW Energy's ambitious target of achieving a total renewable energy capacity of 20 GW by 2030. This order further solidifies JSW Energy's position as a leading player in India's clean energy landscape, contributing to the nation's goal of increasing the share of renewables in the energy mix.

In addition to this recent achievement, JSW Energy has been actively involved in developing various renewable energy projects, including wind, solar, and hybrid solutions. The company’s aggressive push toward renewables aligns with global trends of reducing carbon emissions and fostering sustainable development.

The power supplied under this contract will not only help meet the growing demand for clean energy but also support India’s commitment to achieving 500 GW of non-fossil fuel-based capacity by 2030. With this latest contract, JSW Energy continues to demonstrate its capability to deliver large-scale renewable energy projects, reinforcing its commitment to sustainability and innovation in the energy sector.

The successful bidding and award process highlights JSW Energy's expertise in navigating complex competitive processes, further bolstering its reputation as a reliable and forward-thinking energy provider. The company is well-positioned to contribute significantly to India’s renewable energy goals, paving the way for a cleaner and more sustainable energy future.

New Delhi: SJVN Limited proudly announced the successful commissioning of its groundbreaking 90 MW Omkareshwar Floating Solar Project. This achievement marks a significant milestone for SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, enhancing SJVN's total installed capacity to an impressive 2466.50 MW. SJVN, a Miniratna PSU under the Ministry of Power, continues to lead in the energy sector with innovative projects like the Omkareshwar Floating Solar Project.

Situated in the expansive Omkareshwar Floating Solar Park in District Khandwa, Madhya Pradesh, this project stands as India's largest floating solar park and one of the largest in Central & North India. Developed at a cost of Rs 646.20 crores, the project is projected to generate 196.5 million units of clean energy in its first year alone. Over its estimated 25-year lifespan, it is anticipated to contribute significantly to energy security, producing an estimated cumulative energy generation of 4629.3 million units.

Beyond its impressive energy output, the Omkareshwar Floating Solar Project is set to boost SJVN's revenue by Rs 64 crores and is expected to mitigate approximately 2.3 lakh tons of carbon emissions. This aligns closely with the Government of India's ambitious goal of achieving net zero carbon emissions by 2070. Furthermore, the project's innovative design will aid in water conservation efforts by reducing water evaporation.

The project was secured through competitive tariff bidding at Rs 3.26 per unit under the Build Own Operate model, facilitated by REWA Ultra Mega Solar Limited (RUMSL). The Power Purchase Agreement, spanning 25 years, has been formalized between SGEL and RUMSL & MPPMCL, ensuring stable and sustainable energy supply for the region.

With a diverse project portfolio totaling 56802.40 MW, encompassing Hydro, Pumped Storage, Thermal, and Renewable Energy sectors, SJVN continues to exemplify excellence and leadership in India's energy landscape.

New Delhi: The Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the MSME sector.

SIDBI has onboarded C2treds, a platform that offers MSMEs liquidity within 24 hours through an online bidding process, according to a release by C2FO. C2FO is an on-demand working capital platform that provides fast, flexible, and equitable access to low-cost capital to nearly 2 million businesses worldwide.

"Through this strategic collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates," the release stated.

C2treds operates under the Trade Receivables Discounting System (TReDS) initiative, which enables the discounting of invoices and is regulated by the Reserve Bank of India (RBI) to support the MSME sector in India.

“As the apex institution for the promotion and development of MSMEs, SIDBI is fully committed to increasing the flow of credit to MSMEs. TReDS has become an effective tool for the prompt realization of MSMEs' receivables, and SIDBI is onboarded on all operational TReDS platforms," said Prakash Kumar, DMD, SIDBI.

Basant Kaur, Country Head of C2FO India, stated that SIDBI joining the C2treds platform will significantly amplify the company's efforts to support the growth of MSMEs, which are the employment engines of India.

In a release, UGRO Capital, a datatech NBFC and co-lender in the MSME segment, announced its strategic co-lending partnership with SIDBI. The partnership is established under the Reserve Bank of India’s (RBI) co-lending framework, designed to leverage the strengths of banks and NBFCs to boost priority sector lending, UGRO said.

Commenting on the partnership, Shachindra Nath, founder and managing director of UGRO Capital, said: "This collaboration is a testament to our commitment to driving financial inclusion and supporting the growth of MSMEs across the nation."

UGRO Capital stated that it has already extended bespoke finance solutions to over 78,000 MSMEs in India.

New Delhi: The Reserve Bank of India (RBI) announced on Tuesday that non-bank payment system operators must implement a real-time fraud monitoring solution to identify suspicious transactional behavior and generate alerts.

Additionally, non-bank payment system operators (PSOs) are required to ensure that online sessions on mobile applications automatically terminate after a fixed period of inactivity, prompting customers to re-login, as per the Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank PSOs.

The directions, effective from Tuesday, include a phased implementation to allow PSOs adequate time to establish the necessary compliance structure. The RBI stated that these directions aim to enhance the safety and security of payment systems operated by PSOs by providing a comprehensive framework for information security preparedness with an emphasis on cyber resilience.

Regarding mobile payments, the RBI specified that PSOs should ensure that an authenticated session and its encryption protocol remain intact throughout the interaction with the customer. Any interference or closure of the application by the customer should result in the session's termination and the resolution or reversal of affected transactions.

Furthermore, PSOs must identify the presence of remote access applications, to the extent possible, and prohibit access to the mobile payment application while remote access is active. They must also ensure that card networks facilitate the implementation of transaction limits at the card, bank identification number (BIN), and card issuer levels, with such limits set at the card network switch itself.

Card networks are also required to establish a 24x7 alert mechanism to notify card issuers of any suspicious incidents and ensure that customer card details are stored in an encrypted form at all server locations. The central bank has encouraged Prepaid Payment Instrument issuers to communicate OTP and transaction alerts in users' preferred languages, including vernacular languages.

PSOs must also develop a comprehensive data leak prevention policy to protect the confidentiality, integrity, and availability of business and customer information. Additionally, they are required to establish a business continuity plan based on various cyber threat scenarios, including extreme but plausible events.

The directions mandate that SMS or e-mail alerts to customers must redact or mask bank account numbers, card numbers, and other confidential information as much as possible. PSOs are also required to provide a facility on their mobile application or website that enables customers to authenticate and mark a fraudulent transaction for immediate notification to the issuer of the payment instrument.

New Delhi: Indian Oil Corporation (IOC) has received stage-I approval from its Board of Directors for constructing a greenfield terminal at Bihta in Patna, Bihar, on the Barauni-Kanpur product pipeline and Patna-Motihari-Baitalpur Pipeline. The project will involve the re-sitement of the existing marketing terminal and pipeline pump station in Patna, with an estimated cost of Rs 1,698.67 crore.

In a regulatory filing to the stock exchanges, Indian Oil stated, “Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations 2015, it is hereby informed that the Board of IndianOil, at its meeting held on 30th July 2024, has accorded stage-I approval for the construction of a Greenfield Terminal at Bihta, Patna, Bihar on the Barauni-Kanpur product Pipeline (BKPL) and Patna-Motihari-Baitalpur Pipeline (PMBPL) at an estimated cost of Rs. 1,698.67 crores as a combined re-sitement of the existing Marketing Terminal and Pipeline pump station in Patna and for undertaking pre-project activities related thereto.”

Indian Oil Declares Q1 FY25 Results

Indian Oil’s net profit plunged 75 percent year-on-year in Q1 FY2024-25 due to weak Gross Refining Margin (GRM) and high crude oil prices. The state-run oil PSU recorded a consolidated net profit of Rs 14,735.30 crore in the June quarter of 2023-24, which has plummeted to Rs 3,722.63 crore in the June quarter of the current financial year. On a quarter-on-quarter basis, the consolidated net profit dropped by 32.16 percent.

New Delhi: GAIL (India) Limited reported a remarkable 77.5 percent year-on-year increase in net profit, amounting to Rs 3,183.35 crore for Q1 FY2024-25, compared to Rs 1,792.99 crore in the same quarter of the previous fiscal year. On a quarter-on-quarter basis, the gas utility’s net profit surged by 28.7 percent. GAIL’s standalone net profit for Q1 FY25 stood at Rs 2,723.98 crore, marking a 93 percent increase compared to Rs 1,412 crore in the corresponding quarter of the previous fiscal year.

GAIL’s consolidated revenue from operations for Q1 FY2024-25 was Rs 34,821.89 crore, a 6 percent rise from Rs 32,848.78 crore recorded in the year-ago period, and a 6.05 percent increase quarter-on-quarter. The PSU reported a total income of Rs 35,042.44 crore for the June quarter of the current fiscal. GAIL’s Profit before Tax (PBT) for the first quarter of the current financial year was Rs 4,113.82 crore.

Boosted by strong profits, GAIL’s earnings per share rose from 2.73 percent in the June quarter a year ago to 4.84 percent in the June quarter of FY25.

Sector Performance

GAIL’s natural gas marketing business was the most profitable, generating Rs 2,036.13 crore in profits. The natural gas transmission segment earned Rs 1,446.87 crore, a 41 percent increase from Rs 1,028.33 crore in the year-ago period. LPG profits for the quarter were Rs 80.75 crore. The petrochemicals business, however, incurred a loss of Rs 49.31 crore, an improvement from the loss of Rs 301.75 crore in the June quarter of the previous fiscal and a decrease from the profit of Rs 533.41 crore in Q4 FY2023-24. GAIL’s city gas distribution business posted profits of Rs 188.45 crore.

Tata Power Solar Partners with Bank of India to Facilitate Easy Financing for Solar Installations and EV Charging Stations

New Delhi: Tata Power Solar Systems Ltd (TPSSL) on Friday announced a strategic partnership with Bank of India (BOI) to provide easy financing for rooftop solar installations and the establishment of electric vehicle (EV) charging stations.

This collaboration marks a significant milestone, with Tata Power Solar becoming the first solar company to join forces with BOI for both solar and EV charging station financing, thereby solidifying its leadership as a green energy solutions provider, according to a company statement.

The partnership supports the government's initiatives to promote rooftop solar installations, targeting a diverse range of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs).

Under the PM Surya Ghar Yojana, residential customers looking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 percent margin money requirement. These loans are offered at an attractive interest rate of 7.10 percent per annum, are collateral-free, and have a tenure of up to 10 years.

For installations above 3 KW and up to 10 KW, loans can be availed up to Rs 6 lakh with a 5 percent margin money requirement. The interest rates for these loans range from 8.3 percent to 10.25 percent per annum, and they are also collateral-free with a tenure of up to 10 years.

Registered housing societies and residential welfare associations can benefit from loans up to Rs 1 crore with a 10 percent margin money requirement.

All UDYAM-registered MSME customers looking to set up rooftop solar systems or EV charging stations can avail loans up to Rs 30 crore. These loans feature low interest rates starting from 9.35 percent per annum, with a margin requirement of 15 percent, and offer collateral-free options. Borrowers can avail higher repayment tenure of up to 120 months.

Additionally, benefits of MSE-GIFT (Green Investment & Financing for Transformation) interest subvention can also be obtained under the loan offering.

Railways’ First Hydrogen Train to Launch This Year; Bullet Train Expected by 2027, Says Anil Kumar Khandelwal

New Delhi: Indian Railways will be launching its first hydrogen train this year, said a senior official from the Ministry of Railways on Friday. Speaking at FICCI’s Future Rail India 2024 conference, Anil Kumar Khandelwal, Member (Infrastructure) of the Railway Board at the Ministry of Railways, emphasized the ministry's focus on environmental sustainability. “Our first hydrogen train will be operational this year, and we plan to launch approximately 50 by 2047,” he said.

India’s First Bullet Train to Run by 2027 Khandelwal also highlighted Indian Railways’ ambitious plans for high-speed rail, stating that India is likely to see its first bullet train running by 2027. This rapid expansion is crucial for Indian Railways’ goal to increase its share of the country’s freight market. Khandelwal said, “Our total logistics market is about 5,000 million tonnes, of which we transported 1,600 million tonnes last year. We aim to upgrade our infrastructure to handle 35 percent or 3,000 million tonnes by 2030-31.”

Rapid Expansion of Kavach System Deployment Indian Railways is accelerating the deployment of its indigenous train protection system, Kavach, across the country’s extensive rail network, Khandelwal noted. “We have finalised our Kavach final specification on July 16th for Version IV and are launching it nationwide in a big way,” he said.

The system has already been implemented across more than 1,400 kilometres, with ongoing work covering the 3,000-kilometre Delhi-Mumbai and Delhi-Howrah railway networks. Bids have been invited for an additional 3,200 kilometres, and further expansion plans include 5,000 more kilometres shortly.

Khandelwal encouraged widespread industry participation in this critical safety initiative, revealing that three companies have already been approved for Kavach, with eight more under consideration. This push for enhanced rail safety is part of a broader transformation within Indian Railways, spearheaded by the newly established GatiShakti Directorate. This directorate aims to streamline project planning and execution, significantly increasing the number of annually sanctioned projects from 7-8 to 70-80. “Previously, we delivered about four kilometres per day on average; now, we have exceeded 14 kilometres per day. Last year, we completed over 5,000 kilometres of new track,” Khandelwal stated.

Multiple Opportunities for the Private Sector Khandelwal outlined numerous opportunities for the private sector in areas such as infrastructure development, safety, and passenger amenities. He urged the industry to “gear up and deliver,” noting, “This is the best time for the railways, with secured funding available. It is up to us how much we can deliver; funds are not a constraint.”

BEML to Deliver India’s First Vande Bharat Sleeper Train Soon Shantanu Roy, Chairman & Managing Director of BEML, emphasized that the country is “on the cusp of a transformation,” with recent railway developments representing just “the tip of the iceberg.” He identified eight pillars crucial for the future of rail modernization in India: infrastructure development, electrification, technological advancements, logistics, safety and security, passenger amenities, sustainability initiatives, and metro expansion. Roy highlighted BEML’s significant contributions to the sector, having supplied over 20,000 coaches to the railways and 2,000 cars for metro systems. He also announced that BEML is set to deliver India’s first Vande Bharat sleeper train “within the next few weeks.”

BVN Rao, Chairman of the FICCI Transport Infrastructure Committee and Business Chairman (Transportation & Urban Infra) of GMR Group, underscored the significant progress and innovative advancements that have reshaped Indian Railways, setting new benchmarks in efficiency, sustainability, and connectivity. He noted the crucial role of cutting-edge technologies such as GIS, IoT, and Big Data analytics in enhancing operational efficiency and safety measures.

The government is planning to increase the availability of coal, tied up under long-term FSA, for the Non-Regulated Sector (NRS), sources told PSU Watch

New Delhi: With a mandate to reduce the import of coal that can be substituted via domestic production to zero by FY2025-26, the government is planning to increase the availability of coal, tied up under long-term Fuel Supply Agreements (FSA), for the Non-Regulated Sector (NRS), sources in the know of the matter told PSU Watch. Substituting the import of coal, wherever possible, is a major focus area in the next set of reforms being planned by the Modi government in its third tenure, sources said.

The availability of coal under the e-auction window is erratic, depending on the availability of coal and the demand from the power sector. In the past few years, when the price of coal has gone up internationally, the availability of coal to the NRS consumers has been limited. Although with increase in domestic coal production, the situation is changing. In Q1 of FY2024-25, coal supplies by India’s largest coal miner, Coal India Limited (CIL), to non-power sector increased 16 percent year-on-year to 38.4 Million Tonnes (MT).

Govt to increase coal availability for NRS through long-term linkage

To assure consumers of the availability of coal, the government is planning to increase the quantity of coal available under FSA for long-term for non-regulated sectors, like cement, steel, sponge iron, paper etc. “Currently, around 70 MT of coal is being made available to NRS via FSA. We want to increase this to about 100-120 MT. So, that there are more assured buyers. And they are able to purchase coal from Indian companies,” said the source.

However, whether the government’s plan takes off will depend on how NRS consumers of coal receive it. Another industry source who spoke to PSU Watch pointed out that the NRS sector increases the procurement of domestic coal only when the international prices go up. “At other times, they prefer to import coal because of high ash content in domestic coal. So, it remains to be seen if they are willing to increase the procurement of domestic coal,” he said.

BHEL Bags Rs 10,000 Crore Thermal Project from Damodar Valley Corporation

New Delhi: State-owned Bharat Heavy Electricals Limited (BHEL) on Friday announced that it has secured a substantial thermal project worth Rs 10,000 crore from Damodar Valley Corporation (DVC).

The ambitious 2x800 MW Koderma Thermal Power Station Phase-II project will be established in Jharkhand, as confirmed by BHEL in a regulatory filing. The project's completion timeline is set at 52 months, with the order size excluding taxes.

The scope of work encompasses the supply of critical equipment such as boilers, turbines, generators, and associated auxiliaries, in addition to electrical and control & instrumentation (C&I) systems. Balance of Plant packages are also included in the contract.

Beyond the supply of equipment, BHEL will handle the erection and commissioning processes, as well as the execution of civil works.

• Strategic Importance: This project is part of India's broader strategy to enhance power generation capacity and ensure energy security. The addition of 1600 MW will significantly boost the power supply in Jharkhand and neighboring regions.

• Previous Collaborations: BHEL and DVC have a history of successful collaborations. This new project builds on their long-standing partnership, reinforcing BHEL's position as a trusted supplier and contractor in India's power sector.

• Technological Advancements: BHEL is set to utilize advanced technology in this project to ensure high efficiency and low emissions, aligning with the country's sustainability goals.

• Economic Impact: The project is expected to create numerous job opportunities during the construction phase and operational period, contributing to the local economy's growth.

• Challenges and Mitigations: Considering the project's scale, BHEL has outlined a detailed project management plan to address potential challenges such as logistical issues and stringent environmental regulations.

This project marks a significant milestone for BHEL, showcasing its capability to deliver large-scale power infrastructure projects and support India's growing energy needs.

New Delhi: The Steel Ministry is in discussions with the Finance Ministry to explore options for curtailing rising imports of steel while taking steps to protect the domestic industry, a senior official told Businessline.

Policy interventions have been sought, and these could be in the form of duty impositions on specific offerings or other trade-limiting measures.

According to the official, Indian steel players and other stakeholders have already represented their concerns about rising imports of the metal to the Ministry. Presentations were also made to Ministry officials, including the Minister.

“We are taking it up with the Finance Ministry for probable policy interventions. These are ongoing discussions,” the official said.

On Thursday, the Steel Ministry launched an upgraded Steel Import Monitoring System (SIMS 2.0) to track, report, and monitor import shipments. The revamp aims to make reporting more rigorous.

For example, if an import consignment declares a particular source of import that is not licensed by BIS, the Ministry will be enabled to not recommend its import.

“The detailed data will enable Customs to conduct better analysis and risk management of steel imports,” Steel Minister HD Kumaraswamy said.

Net Importer Status

The increase in steel imports, particularly from China, has been highlighted as a concern even in the annual Economic Survey of 2023-24. India, incidentally, turned net importer – where imports exceeded exports – in FY24.

“This was largely driven by price differentials between international and domestic prices of finished steel. Low prices in the international market led to reduced profit margins for exports and made imports more affordable, affecting the trade balance in steel,” the Economic Survey mentioned.

In Q1FY25 (April – June), the country continued to be a net importer. Shipments of the metal coming in were at 1.9 million tonnes (mt), up 30 percent, whereas exports were 1.3 mt, down 38 percent.

Quick Response Time Measures

“We are taking up the matter with the government for various kinds of trade-limiting measures, which need to be put in place quickly. There are visible cases where trade measures, as per world trade regulations, can be taken, and those can be expedited. In addition to that, we are looking for and discussing other trade measures which could be possible,” Jayant Acharya, Joint MD & CEO of JSW Steel, said during a post-results earnings call.

Incidentally, India’s largest steel-maker, JSW Steel, has repeatedly spoken of rising imports from China as well as other FTA countries as a concern for the domestic steel industry. Countries have put barriers on surplus steel coming in.

Imports from other FTA countries are up 43 percent, indicating possible trade diversions into India. The JSW Steel JMD and CEO said, “...especially from China and the FTA countries is a concern for us because it’s gone up year-on-year.” Despite some monthly dips, imports continue to be at elevated levels.