Ad Here  
Climate change may change the way businesses work... TiE applauds innovative entrepreneurs Nothing to hide... Hero Motocorp - smooth ride LVB gears to become a financial supermarket AirAsia India infuses funds to fight out competition Gem of social service... Realising double digit growth in Tamil Nadu More gensets and diesel engines from TAFE CUB: towards card-less withdrawal Realty sector takes a break... Backpack laboratory Steel loses its sheen Curbing steel imports will hurt small business... Innovation that helped Chennai port Tata Steel commence operations at Kalinganagar Durga - India’s largest blast furnace; now operational An American alliance in the chemical industry? When Centre visits the state ECGC expands operations European crisis is a global crisis! Chennai will soon get its World Trade Centre IFCI to raise NCDs upto Rs 2000 crore Chola MS launches motor app On the ‘milky’ way People Flow Day- Safety Celebrating 180 years of relevance Creating Tamil Nadu Banana brand ALL-two launches in a row Holiday Inn opens in OMR Chennai Smart controls for cooling large multi-zone spaces ... Techies trip to India Schwing Stetter India joins hands with US-based Gomaco Time to fast-pace the logistics sector Nigeria comes nearer Placing the right shoe forward... Brand leaders come forward... Dynamic e-commerce scenario Indian Bank – global businesses crosses Rs 3 lakh crore... Flexible labour laws… Strategy war escalates between Hero and Honda STFC raises money Digital retail transactions stabilise at higher level… Murugappa- a year of consolidation Veritas Finance- financing the unfinanced Automotive Vision Plan II... Housing Innovation Challenge, 2015 TII-challenging year with flat growth Illicit markets a concern to growing economy Well-refined – RIL’s refinery margins zoom BRICS development bank TVS Logistics – another acquisition to sharpen the business model WABCO’s second Chennai plant Auto test tracks launched at GARC Oragadam campus Four daughters and a proud father Sun Edison launches solar pumps TN budget pragmatic and moderate on fiscal deficit The new look- 4s Verna Economic issues take a back seat at G20 summit Big-ticket investments march towards Punjab Economic, business and social sustainability Applauding enterprise... Airlines wage price war Purdue and IIT-M sign the dotted line Chennai to get a roundabout Metro Three more leather clusters… Research needs more funding SumInfra- corridor based development... Business Briefs Business Breif OBO Bettermann for better lightning protection ISRO's 100th mission Industry-well poised to invest on expansion Secured NCDs from Shriram City Blue Star plans a new plant in south Chennai Port is at last decongested! An aerospace-defence cluster in Tamil Nadu… Focus on self-certification and third party inspection Bridging the skill deficit in pharma industry Celebration time at MS Chola Chola MS net crosses 100 crores Pharma market dozes ALL to launch electric busses TCS’ revenues cross Rs 100,000 crore - Inclusive and forward moving... Downsizing spree... Changing dynamics in human resource management Is Indian telecom industry heading for a monopoly? ALL – truck industry is recovering from degrowth TII’s single largest investment at Thiruthani Adding Zest to Scooty Indigo stays leader with 40 per cent share Carrefour’s quick exit Apple maps – finding its way Waste, a gold mine Striking cords for 25 years… Investor friendly Japan World labour laws at a glance Connecting the unconnected TOP 10 CEO Compensation Rating of states to be released soon A global plastic event in India Ridley marathon to India Hyundai excites again Scoot offers just Rs.13,500 to ANZ... Need to focus on ease of doing business... Towards peace of mind Reality bytes Make way for the new and dynamic railways
Curbing steel imports will hurt small business...

The proposed Steel and Steel Products (Quality Control) Order mandates several steel products to have a Bureau of Indian Standards(BIS) registration.  Currently, steel products imported into India are subjected to globally accepted inspection standards, which ensure high quality and required compliance. This process has been successfully followed for over four decades without compromising the quality of steel. The government states that this new order is intended primarily to control the quality of steel entering  India.

The Bombay Iron Merchant Association (BIMA), Federation of Associations of Maharashtra (FAM) and FII oppose the proposed quality control order.

“The SMEs and the MSMEs have a relatively lesser requirement and are highly dependent on local steel merchants for their raw materials. These local traders, who source from international markets at cheaper prices of quality, provide steel on credit, with simple terms. If the proposed order is passed, the quantity of steel imports will be close to nil; mainly because no foreign company would agree to undergo the tedious BIS registration procedure, especially for orders of small quantities,” points Mohan Gurnani, President of FAM.

The proposed process of registration would require 10-12 months and would affect imports. The associations pointed to the monopoly that would ensue for local producers.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236