Naidu’s Pre-Election Promise: A Beacon of Hope for RINL Workers Against Privatisation

Visakhapatnam: The employees’ unions and officers’ association of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, have launched a campaign to garner support for their long-standing demand to merge the financially struggling public sector with the steel giant, Steel Authority of India Limited (SAIL). The primary goal of this lobbying effort is to save the Visakhapatnam-headquartered public sector company from potential closure or imminent privatisation. With the recent change in government in Andhra Pradesh and the establishment of the Modi 3.0 regime at the Centre, employees are hopeful that this will be a decisive battle for their future.

They highlight that the Visakhapatnam Steel Plant was established following the 'Visakha Ukku Andhrula Hakku' agitation in 1969, which resulted in the sacrifice of 32 lives during police firing. A recent statement by Union Minister of State for Steel Bhupatiraju Srinivasa Varma, indicating that they would respect the sentiments of the people, has rekindled their hopes for a brighter future.

Following the elections, G Kishan Reddy from Telangana has been appointed as the Union Minister for Coal and Mines. Additionally, Kinjarapu Rammohan Naidu from Andhra Pradesh has become the new Cabinet Minister for Civil Aviation. All three ministers from the undivided Andhra Pradesh region are familiar with RINL’s needs and have expressed their commitment to supporting the company, in response to growing public opinion. TDP State President Palla Srinivasa Rao, who won as MLA from Gajuwaka where most of the RINL employees reside, has stated that their party is committed to retaining RINL as a public sector entity.

During the run-up to the general elections, Chief Minister N Chandrababu Naidu, whose support is critical for the Modi 3.0 Government, pledged to lead a delegation of alliance partners to Delhi post-elections to urge the Centre to drop the privatisation proposal. He also claimed credit for the withdrawal of a previous privatisation proposal and the launch of a revival package during Atal Bihari Vajpayee’s tenure as Prime Minister.

“We are optimistic that the new governments at the Centre and State will understand our demand and provide RINL with a working capital grant to increase production. We believe that a merger with SAIL is a viable long-term solution that would benefit both entities. SAIL, which has captive mines, plans to invest Rs1 lakh crore to expand its capacity by 75% to 35 million tonnes per annum by 2030. RINL, with its 20,000-acre land bank, proven workforce, and potential for expansion from its current capacity of 7.3 million tonnes, fits well into this growth strategy,” stated Ch Narsinga Rao, president of Visakha Ukku Parirakshana Porata Samiti, to Bizz Buzz.

Indian Oil has signed an agreement with GPS Renewables for the formation of a Joint Venture dedicated to advancing biofuel adoption
New Delhi: Indian Oil on Wednesday said that it has entered into a joint venture (JV) agreement with GPS Renewables Private Limited for sustainable energy solutions. According to an official statement, this association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.
 

The agreement has been signed by GPS Renewables' CEO & Co-Founder Mainak Chakraborty and Indian Oil's ED (Alternative Energy) Santanu Gupta in the presence of senior officials from both the organisations.

According to Indian Oil, this joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels.

"By leveraging their combined expertise, Indian Oil and GPS Renewables aim to accelerate the deployment of CBG plants nationwide. These initiatives complement Indian Oil’s long-term low-carbon development strategy and to achieve operational net zero by 2046, which will also help achieving net-zero target by 2070 for our Country. CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities," it added.

Coal India is planning to offer 34 underground coal mines to private operators on revenue-sharing basis
New Delhi: In a bid to extract coal from its closed and discontinued underground coal mines, Coal India Limited (CIL) has announced its plan to engage private operators. Coal India is planning to offer 34 underground coal mines to private operators on revenue-sharing basis, said an official statement on Wednesday. “Coal India Limited (CIL) in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector. The cumulative peak rated capacity of is 34.14 million tonnes/year (MT/Y) while the total extractable reserves are estimated at 635 MT,” said the statement.
 

CIL has already identified these 34 discontinued mines where good quality coal reserves are lying dormant but it may not be financially viable for CIL to mine them. “CIL has decided to tender and offer these mines to willing private sector players who are prepared to operate and produce the dry fuel and share part of the revenue with CIL,” said the statement.

Coal India has not exploited its underground coal mines due to lack of technologies and the hight cost of mining involved. Currently, most of its production comes from opencast and mixed coal mines. However, the PSU is planning to ramp up production from underground coal mines to 100 MT by 2030. In FY2024-25, Coal India aims to produce 42 MT of coal from underground coal mines.
 

Where are these 34 underground coal mines?

Of the 34 identified mines, the West Bengal-based Eastern Coalfields Limited and Jharkhand-based Bharat Coking Coal Limited account for 10 each. Five mines from Western Coalfields Limited, four from South Eastern Coalfields Limited, three from Mahanadi Coalfields Limited and two from Central Coalfields Limited add up the remaining.

Successful bidder will have to offer highest revenue-sharing: CIL

The successful bidder is the one who offers the maximum revenue to the authority, which is the coal company. The minimum revenue to be shared is 4 percent. The contract period is for a maximum of 25 years.

“The advantages are conservation of resource, effective substitution of imported coal for non-regulated sector with good quality coal locked up in these mines and provision of livelihood to the local communities where these mines are revived. From environmental point of view there would be no land degradation as the mining infrastructure is already in place. CIL is also identifying few more mines for the purpose to attract wider participation with bid norms relaxed,” said the statement.

Rebate in revenue share if coal is sold for use in gasification

On the total quantity of coal sold exclusively for coal gasification or coal liquefaction purpose in a year, a 50 percent rebate on the contracted percentage of revenue share of the authority will be provided to the operator.

The successful bidder, or the mine operator, to whom the mine shall be handed over on “as is where is” basis, can also utilise the existing infrastructure and project facilities without any additional payment to the authority. In the case of a consortium, foreign bidders are allowed to participate as second or third members of the consortium, as per Government e-Marketplace (GeM) portal.

Coal India Share Price | The successful bidder would be the one offering the maximum revenue to the company. "The minimum revenue to be shared is 4%. The contract period is for a maximum of 25 years," the company said.
Coal India on Wednesday, June 19, said that it will tap coal from 23 of its abandoned underground mines via private operators on a revenue sharing model.

The company said coal will be tapped from latent reserves from some of its closed and discontinued mines.  "The cumulative peak rated capacity of is 34.14 million tonne/year, while the total extractable reserves are estimated at 635 MT," the company said.

Earlier, Coal India had identified 34 discontinued mines, where good quality coal reserves were lying dormant, but may not have been financially viable for the company to mine them. Hence, it decided to tender and offer the mines to willing private sector players who could operate and produce the dry fuel and share parts of the revenue with the company. The successful bidder would be the one offering the maximum revenue to the company. "The minimum revenue to be shared is 4%. The contract period is for a maximum of 25 years," the company said.

The company said the coal mining had several advantages such as conservation of resources, substitution of imported coal for the non-regulated sector with good quality coal and provision of livelihood to the local communities where the mines are revived. "From an environmental point of view there would be no land degradation as the mining infrastructure is already in place," the company said, adding that it was also identifying more mines to attract wider participation with bid norms relaxed.

The company added that on the total quality of coal sold exclusively for coal gasification or coal liquefaction purpose in a year, a 50% on contracted percentage of revenue share of the authority will be provided to the operator.

The successful bidder or the mine operator can also use the existing infrastructure and project facilities without additional payment to the authority, the company said. In case of consortium, foreign bidders are permitted to participate as second or third members, as per the Government e Marketplace (GeM) portal, the company added.

Coal India shares were trading 1.57% lower at ?481.35 apiece at 1.50 pm on Wednesday, June 19.

India's natural gas imports fell by 7.2% in May year-on-year to 2,650 MMSCM, as domestic production rises. For April-May, imports dropped by 1.3% to 5,299 MMSCM. India spent $2.2 billion on LNG imports in April-May 2024-25, a significant decrease from $3.2 billion in the same period last year, saving $1 billion. May 2024 saw a 6.7% increase in gross natural gas production to 3,105 MMSCM. Overall, April-May production rose by 7.2%. While demand growth remains nominal, domestic production now covers 55% of the country's needs.

New Delhi: With domestic natural gas production rising, India’s natural gas imports have declined, leading to substantial savings of USD 1 billion in the April-May period, according to government data. In May, India’s gas imports dropped by 7.2 percent year-on-year to 2,650 MMSCM. In contrast, during May 2023, India imported 2,854 MMSCM of Liquefied Natural Gas (LNG). This trend continued in the April-May period of the current fiscal year, with India importing 5,299 MMSCM of LNG, a 1.3 percent decrease from the 5,368 MMSCM imported during the corresponding period of the previous financial year.

In the April-May period, India saved USD 1 billion on LNG imports due to reduced volumes and cooling prices. The country spent USD 2.2 billion on LNG imports in April-May 2024-25, a significant reduction from the USD 3.2 billion spent in April-May 2023-24.

India’s natural gas production saw a 6.7% year-on-year increase in May. The gross production of natural gas for May 2024 was 3,105 MMSCM, which is higher by 6.7 percent compared to the same month the previous year. The cumulative natural gas production of 6,063 MMSCM for the current financial year up to May 2024 was 7.2 percent higher compared to the corresponding period of the previous year.

However, the growth in domestic gas production is not matched by a corresponding rise in demand. This discrepancy does not impact sales significantly as India currently meets around 55 percent of its gas demand through domestic production, with the remainder being met through imports. Nonetheless, the data signifies that domestic gas demand in India is experiencing nominal growth despite the government's plans to increase the share of natural gas in the energy mix from the current 6 percent to 15 percent by 2030.

While State Street may purchase $11 billion worth of Nvidia's shares, it will have to sell shares worth $12 billion in Apple as per an estimate.

Shares of Nvidia Corp. have rallied 171% so far in 2024. After such a rally, the stock may see buying worth another $11 billion as one of the world's most prominent technology Exchange Traded Funds (ETFs) is set for a big rebalancing exercise, which would lead to an increase in the exposure towards the chipmaker.
State Street Global Advisors, which manages the $71 billion Technology Select Sector SPDR Fund (XLK), is set to revamp the composition of the fund towards the end of the June quarter, barring a last-hour change from the methodology set out by the index provider S&P Dow Jones.

During the last rebalance, Nvidia made up nearly 6% of the ETF assets, compared to the 22% weightage it had in the S&P 500 Information Technology index. If the quarterly rebalance does take place, Nvidia's weightage is likely to rise above 20% in the ETF, while that of Apple Inc. may fall to 4.5%, from 22% earlier, according to calculations sent by the Dow Jones to Bloomberg.

While State Street may purchase $11 billion worth of Nvidia's shares, it will have to sell shares worth $12 billion in Apple as per an estimate. The projected sale of Apple shares is equal to the average daily trading value in the last three months.

Matt Bartolini, head of SPDR Americas Research at State Street, said XLK will rebalance according to its rules and methodology. The ETF is obliged to track the S&P benchmark and is designed to stay in compliance with the diversification regulations.

The index committee “reserves the right to make exceptions when applying the methodology if the need arises,” S&P wrote in a note regarding the June rebalance. “In any scenario where the treatment differs from the general rules stated in this document or supplemental documents, clients will receive notice, whenever possible.”

As per the rules, the combined representation of the largest companies — those making up roughly 5% or more of a diversified fund — can’t add up to more than 50%. This rule is the reason why XLK has under-owned Nvidia and failed to capitalise on the stock's outperformance. As a result, the XLK has underperformed the broader S&P 500 Tech Index by 5 percentage points between April and June, the widest margin since 2001.

“I am interested to see if they keep the rules the same through the next rebalance in September,” said James Seyffart, ETF analyst at Bloomberg Intelligence. “If Apple manages to surpass Nvidia or Microsoft by the next rebalance reference date — which is September 13 — we could have a mirror image massive rebalance where Apple is bought to the tune of billions and Nvidia or Microsoft are sold to the tune of billions.”
 

LONDON, June 17 (Reuters) - China's copper scrap imports have soared due to shortages of concentrate that is processed into refined metal used in the power and construction industries, but record high prices mean U.S. shipments are likely to pause.

Smelters in top copper consumer China have faced concentrate shortages since last year when First Quantum (FM.TO), opens new tab lost the right to operate its Cobre mine in Panama, which accounted for 1% of global mined supply in 2022.

China's copper waste and scrap imports overall climbed 25% to 783,004 tonnes in the first four months of this year compared to the same period in 2023, according to Trade Data Monitor (TDM).

TDM data also shows China's scrap imports from the United States jumped 37% to 153,059 tonnes in January to April this year from the same period last year.

Copper scrap from the U.S. is priced at a discount to the CME price , which hit a record $5.1985 a lb or $11,460 a tonne on May 20 due to parties which had sold futures being forced to buy them back or roll over positions.

"Chinese buyers are deferring U.S. copper scrap shipments," a source at a Chinese trading firm said, adding that China's top scrap supplier was the United States.

The source said some Chinese buyers were looking to price U.S. scrap against copper on the London Metal Exchange (LME), trading at a discount to CME prices.

Deteriorating production at other mines, many in Latin America, has exacerbated concentrate shortages and Chinese smelters have imported more copper scrap to feed their furnaces and protect their margins.

China is home to half of the world's copper smelters and the largest buyer of raw materials including concentrates and scrap.

Scrap typically accounts for about 9 million tonnes or roughly 30% of global copper supplies annually.

"Due to concentrate tightness copper smelters are processing more scrap and blister," said Macquarie analyst Alice Fox.

"Given the cost of physical collection and processing - during periods of significant price movement, scrap tonnages on a contained copper basis can move by up to one million tonnes per annum, effectively rebalancing the market during periods of high or low prices."

Macquarie expects the gap between copper supply and demand to widen to 1.6 million tonnes in 2030 from a deficit around 86,000 tonnes this year.

Swachhta Pakhwara-2024: MCL's Commitment to Cleanliness and Green Initiatives

New Delhi: Mahanadi Coalfields Limited (MCL) is currently observing 'Swachhta Pakhwara-2024,' a fortnight-long cleanliness drive running until June 30. This initiative, part of the broader Swachh Bharat Mission, encompasses a series of awareness programs across the company's operational areas to promote cleanliness and environmental consciousness.

The campaign was inaugurated by MCL's Chairman-cum-Managing Director (CMD), Uday Anant Kaole, who administered the ‘Swachhta Pledge’ to all employees, emphasizing the importance of cleanliness and sustainability. Prominent officials attending the event included MCL's Director (Personnel) Keshav Rao, Chief Vigilance Officer (CVO) PK Patel, Director (Technical/Operations) JK Borah, Director (Finance) AK Behura, Director (Technical/Projects & Planning) AS Bapat, and General Managers/Heads of various departments.

To further disseminate the message of cleanliness, the CMD flagged off the 'Swachhta Rath,' a specially designed tableau. This mobile unit, adorned with creative print and musical messages, will tour peripheral villages and marketplaces, encouraging people to maintain clean surroundings and reduce the use of single-use plastics.

CMD Uday Anant Kaole remarked, “MCL remains committed to contributing to the national objective of a clean and green India. We encourage all stakeholders to actively participate in 'Swachhta Pakhwara-2024' to make this initiative a grand success.”

New Delhi: NMDC on Tuesday unveiled its new state-of-the-art Research and Development (R&D) Center in Patancheru, Hyderabad, to advance innovation in mineral processing and sustainable steel technology. The Navratna PSU has strategically invested over Rs 150 crores in research and development over the past five years, with an additional Rs 50 crores allocated towards building the new R&D Center.

Spanning eight acres in Patancheru, this cutting-edge facility was inaugurated by NMDC CMD (Additional Charge) Amitava Mukherjee. Also present at the inauguration were NMDC Director (Production) Dilip Kumar Mohanty, Director (Technical) Vinay Kumar, CVO B Vishwanath, and other senior officers from NMDC.

Inaugurating the new R&D facility, Mukherjee said, “Embracing our responsibility to innovate and lead the Indian Mining Industry towards a sustainable future through research and development, we open the doors to NMDC’s new state-of-the-art R&D Center. As we stride forward to innovate and inspire, we are not just investing in research here; we are investing in India’s Future.”

The newly inaugurated NMDC R&D Center boasts an array of sophisticated instruments, including an automated mineral analyzer and automated fusion bead-based X-ray fluorescence (XRF) analyzer, ensuring precise and efficient characterization of various minerals. The Center features a dedicated facility for pelletization studies, which will generate crucial data for the installation of commercial pellet plants. This will not only enhance NMDC's in-house capabilities but also benefit the sector by providing valuable insights into mineral processing and pellet production.

This facility is a decisive step towards driving the digital transformation of India's largest iron ore producer and will further reinforce its commitment to Responsible Mining by building an ecosystem that is sustainable at its core.

One of the unique aspects of the new R&D Center is the hydrogen reduction facility, integrated with a microwave-assisted heating furnace. This innovative setup will play a vital role in the development of green steel-making technologies, aligning with global efforts to reduce carbon emissions and promote sustainable practices in the steel industry.

Equipped with the latest technology and infrastructure, the Center has expertise in Mineralogical Characterization, Elemental Analysis, Bulk Materials Handling and Storage, Mineral Processing, and Coal and Coke Characterization.

At the forefront of innovation, the Center will serve as a hub for collaboration with leading academic institutions and industry experts, becoming the nerve center of the industry. The NMDC R&D Center is poised to support industry players from both corporate and public sectors in making game-changing interventions to maximize mineral recovery and ensure mineral security for India.

Contributing to the field of mineral processing since 1970, NMDC R&D has been recognized as a Centre of Excellence by both UNIDO and DSIR for its knowledge and technology transfer to the domestic and global industry. The R&D Center houses cutting-edge laboratories that foster innovation in sustainable mineral technology and ore beneficiation, manned by a team of experts.

New Delhi: State-owned power giant NTPC Limited has partnered with Macawber Beekay to supply charcoal (green coal) to help the energy giant reduce carbon emissions while generating electricity, the waste-to-energy firm announced on Tuesday.

In a statement, Macawber Beekay Private Ltd (MBL) revealed it has secured three NTPC Green Coal projects in Noida (Uttar Pradesh), Bhopal (Madhya Pradesh), and Hubbali (Karnataka).

Green coal is charcoal produced from municipal solid waste (MSW) through a thermal treatment process called torrefaction, conducted in an oxygen-deficient environment, MBL explained.

To supply the material, MBL will establish three green coal manufacturing units with the capacity to process 900 tonnes per day (TPD) of MSW in Noida, 500 TPD in Bhopal, and 400 TPD in Hubbali. This is in addition to a similar project secured from NTPC in Varanasi earlier, the company added.

MBL aims to complete these three projects by August 2025 in engineering, procurement, and construction (EPC) mode. Upon completion, the total waste handling capacity of the four projects will reach 2,400 TPD, producing 800 tonnes of green coal per day for NTPC. The use of green coal or charcoal will aid in reducing carbon emissions while generating power.

"Following the successful demonstration of the technology at NTPC Vidyut Vyapar Nigam Ltd in Varanasi, the CPSU has now awarded us more waste-to-green coal projects. We will be setting up the largest waste-to-green coal plant in Greater Noida, with a capacity of 900 TPD," said Gautam Gupta, Joint Managing Director of Macawber Beekay.

The Varanasi project has a 600 TPD waste handling capacity and generates 200 tonnes of green coal daily. Noida-based Macawber Beekay is a leading player in the waste-to-energy segment.

New Delhi: The searing heat in the national capital pushed Delhi’s peak power demand to its highest-ever at 8,647 MW on Tuesday afternoon. Maximum and minimum temperatures touched 44 degrees Celsius and 34 degrees Celsius, respectively, amid heatwave conditions, according to data from the State Load Dispatch Centre (SLDC), Delhi. This new peak surpasses the previous high of 8,302 MW recorded on May 29.

Delhi’s peak power demand first breached the 8,000 MW mark on May 22. Since then, it has crossed 8,000 MW eight times, sources in discoms (distribution companies) said. “The power demand is driven by consistent heatwave conditions, increasing the cooling load from air conditioners and coolers. Air conditioning equipment can contribute 30-50 percent of domestic and commercial consumption,” a source stated.

The Indian Meteorological Department (IMD) has issued a ‘red alert’ for Delhi, warning that the prevailing heatwave conditions are expected to continue. However, the IMD also indicated that some relief might be on the horizon, with rain and thunderstorms expected in the national capital within the next three to four days.

The relentless heatwave has put immense pressure on the city's power infrastructure. In response, the power utilities have been taking measures to ensure the stability of the power supply. Increased power generation, grid management, and importing power from neighboring states are some of the steps being taken to manage the surging demand.

Additionally, residents are being advised to use electricity judiciously and avoid non-essential usage during peak hours to help mitigate the load on the power grid. Energy efficiency initiatives, such as the use of energy-efficient appliances and promoting solar power installations, are being emphasized to help reduce the strain on the power system.

New Delhi: The Ministry of Power on Tuesday issued a directive to all utilities, urging them "to maintain a high state of alert and minimise forced outages of equipment" as the ongoing heatwave continues to drive up electricity demand, particularly in the northern region where the Monsoon is yet to arrive.

Since May 17, 2024, the northern region has been grappling with high electricity demand due to a prevailing heatwave, the ministry noted in a statement.

Despite these challenging conditions, the ministry reported that the highest ever peak demand of 89 GW in the northern region was successfully met on June 17, 2024. This was achieved by importing 25-30 percent of the region's power requirement from neighboring regions.

"All utilities have been advised to maintain a high state of alert and minimise forced outages of equipment," the statement reiterated.

According to the India Meteorological Department (IMD) forecast, heatwave conditions in North-West India are expected to abate from June 20.

In response to the increased electricity demand and to ensure adequate power availability across the country, the Ministry of Power has implemented a series of measures to meet the highest ever peak demand of 250 GW during the ongoing summer season. The ministry anticipates that peak demand could reach up to 260 GW during this period.

These measures include directions issued under Section 11 of the Electricity Act, 2003, mandating imported coal-based (ICB) plants to continue their generation support during this high demand period. Additionally, power generating units have been instructed to minimize planned maintenance during this time.

Efforts are being made to reduce partial and forced outages to maximize generation capacity availability. The ministry has also sensitized plants under long-term outage to revive their units to ensure maximum power generation.

All generating companies (GENCOs) have been advised to maintain their plants in optimal condition to ensure full capacity availability and to support the optimal operation of various generation sources, the statement concluded.

With bilateral consultations with the European Union (EU) earlier this month failing to break the logjam over extension of safeguard duties on its steel exports, India has “reserved the right” to retaliate in equal measure by imposing extra duties on imports from the 27-member bloc, a senior official said.

The EU has extended the safeguard duties on steel imports, which were expiring this month, by another two years till 2026. This is the second extension of the safeguards that take the form of Tariff Rate Quota (TRQ) and were first imposed in 2018. With the latest extension the safeguard would have run for eight years. Under World Trade Organisation (WTO) rules another safeguard measure for these product categories of steel could then not be put in place for another eight years.

Under the TRQ mechanism every country is issued a quota for export of 26 steel products to the EU. This quota was fixed at 105% of the average imports between 2015 and 2017 from that country. Any exports beyond this quota attract extra 25% duty.
India is one of the countries affected by this measure as it has a substantial interest in steel exports to the EU. Last financial year India’s exports to the EU of iron and steel and their products was $ 6.64 billion up from $ 6.1 billion in 2022-23.
 

The UK also has TRQs for steel imports. When the consultation process between India and UK did not result in a positive outcome in August 2022 India informed the World Trade Organisation (WTO) that it would put retaliatory duties on imports from the UK that would total $ 247.7 million. This was to be achieved through additional 15% import duty on 22 products including whiskey, silver, gold and diesel engine parts.India’s steel and product exports to UK were $ 743.09 million in 2023-24 as against $ 565.7 million in 2022-23.

These duties, however, have not been notified till now. WIth the EU also the same action is expected. Before retaliatory action India will have to notify WTO on the extent of injury the safeguard duties are causing to the domestic industry and reason for retaliatory action.

India took retaliatory action against additional duties on its steel and aluminium exports to the US by the Trump administration by imposing additional duties on 28 products. These tit-for-tat duties were challenged in the WTO’s dispute settlement system. Last year both countries agreed to withdraw their disputes at WTO and additional duties.

The source said that the ‘Made in India’ branding, along with a QR code, provides for labeling of domestic steel products with details of the product. 

Following the Ministry of Steel’s initiative to brand products with ‘Made in India’, Indian steel producers (ISPs) have labelled 80 per cent of their products since November last year, said an official on Monday.

“Ministry of Steel was the first to initiate and complete the branding exercise. The efforts would result in branding of 80 million tonnes of steel out of the production of 125 million tonnes in the first phase,” the official added.

Indian steel producers have finalised common labels across the product categories and allocated size and space for the ‘Made in India’ logo for each label.

“All the ISPs have started roll out of branding with selected categories of steel products in their product portfolio by fixing of new ‘Made in India’ label on their products from November 4, 2023 onwards,” the source said, adding RINL, JSPL and TATA Steel Ltd have covered 100 per cent of their product range, while the rest will complete the branding by the end of June.

Explaining the need of the branding, the source said, “the label will help to create a common brand value for all Made-in-India steel products nationally and internationally and to further encourage manufacturers to maximise their local manufacturing process, thereby giving a much-needed boost to the Indian economy.
In the long run, it will be a key identifier for Indian steel sector markets across the world, further cementing India’s position in global markets. The Made in India Label along with the overall country branding through the Brand India Mission will complement each other and help in achieving the final goal of ‘Atmanirbhar Bharat’ making for India and the world.”

According to sources, the concept was initially suggested by Prime Minister Narendra Modi, which was later conceptualised by the Department for Promotion of Industry and Internal Trade (DPIIT) and implemented by the Steel Ministry.

The source said that the ‘Made in India’ branding, along with a QR code, provides for labeling of domestic steel products with details of the product. “The vision is to boost credibility of ‘Made in India’ and promotion of domestically-produced steel and to enable the Indian consumers to make an informed choice. ‘Made in India’ Label is intended for both domestic market and also for exports,” the source said

Over the last one month, the northern region has been witnessing a record demand due to the prevailing heat conditions.

AMIDST A sweltering heatwave and an expected surge in agricultural load by end-June, a key body of power engineers employed across state and central utilities, on Monday flagged the possibility of a grid outage in Punjab that could have a cascading impact on the country’s grid, and also warned that an imminent surge in demand “may lead to an unmanageable power situation”.

Over the last one month, the northern region has been witnessing a record demand due to the prevailing heat conditions. On Monday, it touched the highest-ever peak demand of 89 giga watt (1 GW is 1,000 mega watts), which was successfully met. But such high demand has led to power supply cuts in Lucknow and Meerut, and also impacted passenger services in Delhi international airport Monday afternoon after a “significant voltage spike in the grid, reportedly due to the tripping of a 765KV line”.

While a surge in domestic consumption load in the country’s northern parts are behind the shortages, the Ministry of Power spokesperson told The Indian Express, “All utilities have been advised to maintain a state of high alert and minimise forced outage of equipment.” To meet demand, the Northern Region is also importing 25-30 per cent of its power requirement from the neighbouring regions, the spokesperson said.
The current crisis situation also brings back into focus some of the lingering structural issues. A growing demand-supply mismatch in India’s power market, triggered by a slowdown in the pace of new capacity addition of coal-fired power plants coupled with the lack of effective storage options for renewable power has kept the country’s grid managers on their toes over the last three summers. With soaring temperatures leading to a surge in power demand, the failure to augment baseload capacity is progressively exposing the structural issues posed by the variability of renewable energy.

With renewables, electricity is generated only when the sun shines or when the wind blows, which is not always in sync with the demand cycle. As renewables grow to become a big chunk of the installed generation capacity, till the time that viable storage options are developed, the grid has no option but to fall back on thermal or nuclear for base load capacity. Consequently, stepping up thermal, especially coal, and nuclear generation, is the only way forward till the issue of intermittency in RE (renewable energy) generation is solved.