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