Ad Here  
February
March
April
May
June
July
 
 
Airlines wage price war Ridley marathon to India Celebrating 180 years of relevance Investor friendly Japan Changing dynamics in human resource management Need to focus on ease of doing business... Chola MS launches motor app Striking cords for 25 years… Indigo stays leader with 40 per cent share Flexible labour laws… World labour laws at a glance People Flow Day- Safety A global plastic event in India Well-refined – RIL’s refinery margins zoom ALL – truck industry is recovering from degrowth Industry-well poised to invest on expansion On the ‘milky’ way Automotive Vision Plan II... Placing the right shoe forward... Techies trip to India TN budget pragmatic and moderate on fiscal deficit Celebration time at MS Chola Innovation that helped Chennai port Strategy war escalates between Hero and Honda Durga - India’s largest blast furnace; now operational Secured NCDs from Shriram City SumInfra- corridor based development... Is Indian telecom industry heading for a monopoly? Brand leaders come forward... European crisis is a global crisis! Economic issues take a back seat at G20 summit Hero Motocorp - smooth ride ISRO's 100th mission Three more leather clusters… Gem of social service... Connecting the unconnected TII’s single largest investment at Thiruthani ALL-two launches in a row Nigeria comes nearer TiE applauds innovative entrepreneurs Realty sector takes a break... ALL to launch electric busses Digital retail transactions stabilise at higher level… Bridging the skill deficit in pharma industry Pharma market dozes Applauding enterprise... Business Briefs Nothing to hide... Waste, a gold mine Blue Star plans a new plant in south Steel loses its sheen TII-challenging year with flat growth Chennai to get a roundabout Metro Downsizing spree... Carrefour’s quick exit Rating of states to be released soon Backpack laboratory Smart controls for cooling large multi-zone spaces ... When Centre visits the state Tata Steel commence operations at Kalinganagar Adding Zest to Scooty The new look- 4s Verna Economic, business and social sustainability BRICS development bank TOP 10 CEO Compensation Towards peace of mind More gensets and diesel engines from TAFE Hyundai excites again WABCO’s second Chennai plant STFC raises money Purdue and IIT-M sign the dotted line Focus on self-certification and third party inspection TVS Logistics – another acquisition to sharpen the business model Reality bytes Curbing steel imports will hurt small business... Apple maps – finding its way An American alliance in the chemical industry? Auto test tracks launched at GARC Oragadam campus OBO Bettermann for better lightning protection - Realising double digit growth in Tamil Nadu Chola MS net crosses 100 crores Scoot offers just Rs.13,500 to ANZ... ECGC expands operations Creating Tamil Nadu Banana brand LVB gears to become a financial supermarket Indian Bank – global businesses crosses Rs 3 lakh crore... Murugappa- a year of consolidation Chennai will soon get its World Trade Centre Housing Innovation Challenge, 2015 Schwing Stetter India joins hands with US-based Gomaco Time to fast-pace the logistics sector Make way for the new and dynamic railways An aerospace-defence cluster in Tamil Nadu… Inclusive and forward moving... AirAsia India infuses funds to fight out competition Veritas Finance- financing the unfinanced TCS’ revenues cross Rs 100,000 crore Sun Edison launches solar pumps Holiday Inn opens in OMR Chennai Four daughters and a proud father Illicit markets a concern to growing economy Dynamic e-commerce scenario IFCI to raise NCDs upto Rs 2000 crore Research needs more funding CUB: towards card-less withdrawal Climate change may change the way businesses work... Big-ticket investments march towards Punjab Chennai Port is at last decongested! Business Breif
 
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 :
RELATED NEWS
ABOUT IE
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
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com