eznews.in
India, the world's second-largest crude steel producer, is contemplating the extension of an import tariff on certain steel products to combat cheaper imports, particularly from China. In August, the Directorate General of Trade Remedies recommended a three-year tariff of 11%-12% on select steel items. A source familiar with the situation indicated that the tariff is currently under review, although the Ministry of Finance has not yet commented. This follows a temporary 12% tariff imposed in April, which expired earlier this month. Notably, India's finished steel imports fell by 34.1% year-on-year in the first seven months of the financial year, with South Korea emerging as the largest exporter to India, followed by China, Japan, and Russia. Meanwhile, China's steel production is projected to dip below 1 billion tons this year, as the government seeks to address overcapacity in the sector. 
Published: Nov 25 2025, 2 pmeznews.inIndia's imports of Russian oil are projected to decline to their lowest levels in three years this December, following a peak in November, as refiners seek alternatives to comply with tightening Western sanctions. The US, UK, and EU have intensified sanctions against Moscow due to the ongoing war in Ukraine, with the latest US measures specifically targeting major Russian producers Rosneft and Lukoil. Indian state refiners are reportedly exercising caution, anticipating imports of 600,000 to 650,000 barrels per day in December, down from 1.87 million bpd in November. Most Indian refiners, including Hindustan Petroleum and Mangalore Refinery, have ceased purchasing Russian oil, while Reliance Industries continues to process pre-committed cargoes. The shift comes amid increased scrutiny from banks and pressure on India to source more US energy, especially after Washington raised tariffs on Indian imports in response to its Russian oil purchases.
Published: Nov 25 2025, 2 pmeznews.inIndia's real GDP surged by 7.8% in the April to June quarter of FY26, marking the fastest growth in five quarters, according to recent data. India Ratings and Research (Ind-Ra) has revised its GDP growth forecast for the fiscal year to 7%, up from 6.3%, citing robust growth in the June quarter and a lesser-than-expected impact from US tariff hikes. The Reserve Bank of India (RBI) projects a 6.8% growth for the year, an improvement from 6.5% last year. Ind-Ra highlighted that while risks remain balanced, factors such as a potential Indo-US trade deal and favorable winter weather could further boost growth. However, a weaker-than-expected demand revival could hinder progress. Additionally, Indian exports to the US have seen a decline, emphasizing the need for new markets and trade agreements to support the economy. Official Q2 GDP estimates will be released on November 28.
Published: Nov 25 2025, 2 pmeznews.inA-1 Ltd, a chemical trading and logistics firm, has secured a significant order worth ₹127 crore for the supply of 25,000 tonnes of industrial urea (automobile grade) from Sai Baba Polymer Technologies. The total order value, including GST, amounts to ₹150 crore, with deliveries scheduled according to client requirements. This contract is expected to enhance A-1 Ltd's operating revenue and reflects the increasing demand for its industrial urea products. Chairman and Managing Director Harshadkumar Patel emphasized that the order strengthens the company's order book visibility and aligns with its strategy to expand within the automotive chemicals sector while maintaining a diverse customer base. The transaction is routine and does not involve any related party interests. Following the announcement, A-1 Ltd's shares rose by 5% to ₹2,433. The company has built a strong reputation over five decades in the industrial-acid trading and logistics sector.
Published: Nov 25 2025, 1 pmeznews.inOn November 21, the Indian government announced the implementation of four significant labour codes: the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health and Working Conditions Code, 2020. A research report by SBI suggests that these reforms could create approximately 7.7 million jobs and increase consumption by ₹75,000 crore. The report outlines three scenarios for unemployment reduction, predicting a decrease from the current rate of 3.2% to as low as 1.9% under optimistic conditions. The implementation of the Code on Wages is expected to raise the average worker's disposable income by ₹95 per day, leading to a consumption boost of ₹66 per person daily. Additionally, the reforms could formalize the workforce, increasing the formalization rate to 75.5%, benefiting around 10 crore workers currently in the unorganized sector.
Published: Nov 25 2025, 1 pmeznews.inAir travel disruptions were reported at Indira Gandhi International Airport in New Delhi on Tuesday, as ash plumes from the recent eruption of the Hayli Gubbi volcano in Ethiopia affected operations. At least seven international flights were cancelled and over 10 delayed, with Air India alone cancelling 13 flights since Monday. The Directorate General of Civil Aviation (DGCA) has advised airlines to avoid areas impacted by volcanic ash and to adjust flight plans accordingly. The airport, which is India's largest, typically handles more than 1,500 flights daily. As the ash clouds drift towards western India, there has been no immediate update from other Indian carriers regarding their operations. The situation remains fluid as airlines respond to the evolving conditions caused by the volcanic activity.
Published: Nov 25 2025, 1 pmeznews.inCrystal Crop Protection Ltd has announced a significant leadership transition, promoting Nand Kishor Aggarwal, the company's founder, to the role of Chairman Emeritus. In this capacity, he will provide strategic guidance while increasing his involvement in philanthropic efforts focused on education, livelihoods, and sustainable development. Ankur Aggarwal, previously the Managing Director, has been elevated to Executive Chairman and Managing Director, tasked with spearheading the company's transformation across crop protection, seeds, biotechnology, and sustainable farming solutions. This strategic shift aims to enhance Crystal's position in the evolving global agricultural sector. Nand Kishor Aggarwal emphasized that this change reflects the company's commitment to governance and long-term strategic clarity, while Ankur Aggarwal expressed his honor in continuing the legacy established by his predecessor, focusing on innovation and serving farmers more effectively. The announcement was made on November 25, 2025.
Published: Nov 25 2025, 12 pmeznews.inEconomist Sajjid Chinoy has called for a reassessment of India's restrictions on foreign direct investment (FDI) from China, suggesting that welcoming Chinese investments could be more beneficial than imposing tariffs on imports. Speaking at an Asia Society event, Chinoy, who serves as chief India economist at J.P. Morgan and is a member of the Economic Advisory Council to the Prime Minister, highlighted that the current influx of cheaper Chinese goods is stifling domestic capital expenditure due to diminished demand visibility. He noted that the trade deficit with China has surged from $50 billion to $115 billion over five years, exacerbated by the 2020 "press note 3" restrictions. Chinoy argued that fostering Chinese investment could create local jobs and enhance India's manufacturing capabilities, while also emphasizing the need for increased research and development spending to drive innovation in a competitive market. His remarks come amid discussions of potentially reviewing these investment restrictions.
Published: Nov 25 2025, 12 pmeznews.inIndia's marine product exports have surged by 16.18% in the April–October 2025 period, rising from $4.20 billion to $4.87 billion, driven by strong global demand and a rebound in key Asian and European markets. Notably, shrimp and prawn exports increased by 17.43%, contributing significantly to the overall growth. While the United States, traditionally India's largest shrimp market, saw a 7.43% decline, this was offset by substantial gains in exports to China, Vietnam, Belgium, Japan, Russia, Canada, and the UK, reflecting a diversification in export destinations. K.N. Raghavan, Secretary General of the Seafood Exporters Association of India, highlighted the importance of this shift, particularly following high US import tariffs. The Ministry of Commerce's support in facilitating exports to the European Union and other markets has been crucial, with EU exports increasing by nearly 40%. The outlook for the remainder of FY26 remains positive, bolstered by anticipated growth in aquaculture output.
Published: Nov 25 2025, 11 ameznews.inMeteorologists are closely monitoring two live weather systems in the Bay of Bengal and the Arabian Sea, with the India Meteorological Department (IMD) forecasting potential cyclonic activity. The GFS 0.125 model aligns with the IMD's outlook, predicting a well-marked low-pressure area over the Strait of Malacca could intensify into a depression and later a cyclone named Senyar by Thursday. Meanwhile, another low-pressure system is developing over the Comorin region and Sri Lanka. Fishermen have been warned to avoid several coastal areas, including the south-west Bay and the Gulf of Mannar, for safety over the next few days. Heavy rainfall is expected across Tamil Nadu, the Andaman and Nicobar Islands, and Coastal Andhra Pradesh, with thunderstorms and gusty winds anticipated as the systems evolve. The IMD's projections indicate a complex weather scenario, with model discrepancies complicating forecasts.
Published: Nov 25 2025, 11 am
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact