Daily News - Wednesday, 16 April 2025
Niti for ₹8,000 cr Support to push Exports of Tools (The Economic Times)
NITI Aayog has projected that India can unlock a $25 billion export potential in the hand and power tools sector over the next decade, creating around 3.5 million jobs by capturing 10% of the global power tools market and 25% of the hand tools segment, as part of a market expected to grow from $100 billion to $190 billion by 2035. The report highlights India’s current low global share—only 1.8% ($600 million) in hand tools and 0.7% ($470 million) in power tools—compared to China’s dominance with 50% and 40% shares respectively. To bridge the competitiveness gap, NITI Aayog proposed a ₹8,000 crore ‘bridge cost support’, noting this would yield 2-3 times its value in tax revenue over five years if labour, regulatory, and infrastructure reforms are not adequately implemented.
Trade war: India sets up panel to monitor dumping (mint)
A high-level committee chaired by Commerce Secretary Sunil Barthwal has been set up to monitor potential surges in agricultural and manufactured imports, particularly from the US and China, possibly routed via third countries like Vietnam, Indonesia, and Nepal. The committee, comprising officials from the Ministry of Commerce, DGFT, CBIC, and DPIIT, will submit weekly reports for review, enabling timely action to curb suspected circumvention of trade barriers and dumping practices. Amid rising global tariff tensions, the Ministry’s recent assessment has flagged risks of retaliatory dumping into India, prompting closer surveillance and coordination with export councils and other ministries for preventive measures.
JSW Steel may invest up to ₹60,000 cr. in green steel in Maharashtra (The Hindu)
JSW Steel plans to invest ₹50,000–60,000 crore over 3–4 years to set up a 10 million tonne per annum green steel plant at Salav, Maharashtra, aimed at supplying low-emission steel to the EU in response to the Carbon Border Adjustment Mechanism (CBAM). Initially powered by natural gas and later transitioning to hydrogen, the plant is expected to cut carbon emissions by 20%, aligning with global decarbonization goals. JSW Chairman Sajjan Jindal also called for early implementation of proposed anti-dumping duties on steel imports, while expressing optimism that recent U.S. tariff moves are a temporary phase.
US probing pharma, chip imports in hunt for tariffs (Financial Chronicle)
The Trump administration is advancing separate investigations to impose tariffs on pharmaceutical and semiconductor imports, citing national security concerns over foreign dependency, despite exempting smartphones, computers, and other electronics from the recent 125% tariffs largely targeting Chinese goods. Since April 5, the US has implemented a 10% baseline tariff on most imports, with tougher levies temporarily paused, although China-focused tariffs remain in force, and pharma and semiconductor sectors will now face their own tariff rounds. Meanwhile, India announced it will begin physical trade negotiations with the US in the second half of May, aiming to pursue trade liberalization amidst escalating global protectionism.
GOLD PRICE BACK AT ₹96,450-LEVELS IN NATIONAL CAPITAL (Financial Chronicle)
Gold prices in the national capital rose by ₹50, with 99.9% purity reaching ₹96,450 per 10 grams and 99.5% purity touching ₹96,000, regaining their all-time highs after a slight dip the previous day. Silver prices also surged by ₹2,500 to ₹97,500 per kg, recovering from a decline of ₹500 on Monday, driven by renewed demand. Globally, spot gold rose by $13.67 or 0.43% to reach $3,224.60 per ounce, reflecting strong international market sentiment.
