Daily Pour




Date :14/11/2017    Issue No. :1424/17-18

Compiled By :   Shyamal Aroskar, Asst. Dir.-WR 

                            B.Ramchandran, Chennai 



IIF News


Are you missing an opportunity???

Final Call For Advertisement
Sub: 66th Indian Foundry Congress, IFEX & BRICS Foundry Forum, Date 10-12 January, 2018 Venue at Helipad Exhibition Centre, Gandhinagar, Ahmedabad.
On the occasion of 66th Indian Foundry Congress, we invite your Advertisement in a case study volume. (It’s not a souvenir but a reference book) – “Journey to The Centre of Melting Pot” It is an important opportunity, which will give you a platform to market your product year after year. The volume will be given to all registered delegates in kit complimentary also will be circulated to Casting Buyers Sourcing teams, foundries and others in India as well as to global companies in soft copies.
Foundries, Raw Materials & Equipments suppliers will be equally benefited.
· Please consider this as a final call and send confirmation right now with payment of Rs. 15,750/- (incl. of GST) in favour of “IIF A/C INDIAN FOUNDRY CONGRESS” to below secretariat address:
Secretariat Address: 66th IFC, C/O Plot, 46/Phase-1, GIDC, near Kiran Bus Stop, Vatva, Ahmedabad-382 445.                 
· If you want to send by NEFT, following is a bank account details :
           Account Name : IIF A/c INDIAN FOUNDRY CONGRESS
Bank Name : ICICI Bank Limited
Branch Name : KASBA, KOLKATA
Account No.: 129101000204
IFSC Code : ICIC0000983
MICR: 700229034         
Please send your UTR no. to, Cc :
Your matter in high resolution pdf, cdr, Tff, psd formate with full payment should reach us by 20th Nov,2017.
We are attaching Advertisement Form herewith for your ready reference.
Hope you will not miss this golden opportunity to market your products and services.
Brochure of 66th IFC, Registration, Accommodation, Souvenir & Business Promotion Slots are attached for your ready reference.
Kindly contact us for more information.
With Warm Regards,
Chairman: Jagat Shah
Co-Chairman: Subodh Panchal
Cell: +919824015380
Communication Address
46/A, G.I.D.C., Phase-1, Near Kiran Bus Stop, Vatva, Ahmedabad - 382 445. India
Phone : +91 79 4022 0550, 2583 0222    Fax : +91 79 2583 1555
Please attend
Gr. Mumbai Chapter
The 4th Technical Talk organized by IIF- GMC as per the programme given below
Topic               : "Lost Foam Moulding & Vacuum Moulding" by Mr. G.D. Mishra, CEO- General Dynamic Multi Technical Consultancy LLP
Lecture Time:  6.00 p.m to 8.30 pm
?6.00 p.m. to 7.00 p.m.- Presentation on Lost Foam Moulding
?7.00 p.m. to 8.00 p.m.- ?Presentation on Vacuum Moulding
?8.00 p.m. to 8.30 p.m.- Interaction Session
Venue           : Hotel Bawa International
                       Near domestic airport, Vileparle (E)
Day & Date    :  On Friday, 10th November, 2017
You are requested to attend the said talk in large number to make the event successful.
Technical Talk will be followed by Dinner



With Regards,

Shyamal Aroskar

Asst.Director IIF-WR





Thought of the Day





News Letter Supported By






















Today's Top Raw Materials Headlines


*** Indian Nickel Scrap prices gain

*** Indian Brass, Copper Scrap prices slide in line with MCX Copper

*** Indian magnesium ingot prices softening with few deals closed

*** Indian Ferro silicon price weakens

*** Chinese ferromolybdenum market sees obviously decreased transactions of low prices

*** Chinese ferronickel price retreats

*** Chinese lead ingot prices continue to up


Raw Material News



 FX Rates - 14 Nov 2017

CURRENCY    RATE     +/-

USD/EUR  0.8581   -0.0018

USD/GBP  0.7583   -0.0038

USD/TRY  3.8697   +0.0037

USD/AUD  1.304   +0.0019

USD/BRL  3.2679   +0.021

USD/CNY  6.6425   +0.0051

USD/INR  65.1622   +0.1923

USD/SGD  1.3604   +0.0002


Indian government soon to remove Customs duty on ferro nickel

Business Standard reported that domestic stainless steel industry eyes higher customs duty Customs duty on polyester fabric raised to 20% 'IGST on high-seas sale of imports is levied only during customs clearance' Govt slaps countervailing duty on Chinese stainless steel imports Heeding industry's demand, govt raises duty on polyester fabrics to 20%. The government will soon remove the Customs duty on ferro nickel, which is used by the stainless steel industry


Scaling Custom Manufacturing with 3D Printing

Recent advancements in 3D printing promise to lift the barriers to true, one-of-a-kind mass customization. In this November 16webinar, Jon Bruner, director of Formlabs' Digital Factory program and former editor at Forbes Magazine and O'Reilly Media, shares his insights on where the industry is headed, and how manufacturers can leverage additive manufacturing technologies to get there faster.



Industry News


Next step in GST recast: Lower end of tax slabs

The next rejig of goods and services tax will likely focus on the lower end of the rate slabs, as the country seeks to further streamline the structure by converging multiple rates into two or three. It will happen after the regime settles down and there is more clarity on revenue following the recast last week.

Simplification of laws, rules and procedures in line with industry’s feedback is also likely to top the GST Council’s agenda in the next few meetings.

The rates on some items such as cement and paint, still left at the highest rate of 28%, could be brought down if tax revenue remains robust. A top official with a state government said the focus would now be to recast the lower 12% and 5% rate slabs.

Other issues to be considered by the council are inclusion of real estate and petroleum products under GST.

The government has set up a group with industry representation to review the tax regime, which has since its July 1 launch been criticised for having too many rates and being burdensome to comply with.

The latest recast, decided at a GST Council meeting in Guwahati last week, has seen the 18% rate emerging as the dominant slab with nearly half the goods, apart from most of the services, now taxed at that rate.

The Guwahati meeting decided to move 178 items to the 18% rate from 28% and cut the GST on eating at restaurants to 5% from Monday, in a decision that would reduce tax revenue by Rs 20,000 crore.

It may have been possible to move some more goods to the 18% slab from 28%, but that would have resulted a bigger revenue loss. Officials said cement and paint alone would have cost the government more than Rs 20,000 crore had the two been moved a slab lower.

“We need revenue as well,” said the state government official. But eventually, the 28% slab would be left with very few items, mostly in the luxury and sin-goods category.

Other increasingly common-use items that are still in the 28% slab include air conditioners, refrigerators, washing machines, vacuum cleaners and digital cameras. In all, more than 50 items still remain on the 28% list.

Next step in GST recast: Lower end of tax slabs
A committee headed by chief economic adviser Arvind Subramanian had suggested a revenue-neutral rate of 15-15.5%, with a strong preference for the lower end of that range. It had recommended a standard rate — for services and most goods — of 17-18%, high or non-GST excise rate of 40% for items such as luxury goods and tobacco, and a low rate of 12% for essential goods.

With the latest recast, the rates have moved closer to this structure.

A further recast of the 5% rate, moving some up to 12% and scrapping the tax on others will further simplify the GST structure. Lesser rates will bring stability to the overall tax regime, said experts.

“GST needs to be a simple, transparent and stable tax system. Multiple rate slabs result in classification disputes as businesses attempt to classify their products in lower slabs,” said Pratik Jain, indirect taxes leader, PwC.

In most countries, including Australia, Malaysia and Singapore, there is one standard rate, or at best a lower rate in addition to a standard rate. “Single rate will remove complexity from the structure as also alleviate revenue concerns,” said Bipin Sapra, partner, EY.

Congress vice-president Rahul Gandhi in a tweet demanded that petroleum products and LPG cylinders be brought under GST.

He said the government should have a single rate that should not be more than 18%, and remove GST on products that the common man uses. A day ahead of the council meeting in Guwahati, Congress-ruled states had demanded complete revamp of the GST structure.


Finance minister Arun Jaitley hints at further trimming of GST

Finance minister Arun Jaitley on Monday hinted at further rationalisation of goods and services tax (GST) rates, while slamming opponents who have been advocating a shift to a single-rate regime, in what was seen as a rebuff to Congress vice-president Rahul Gandhi.

"Rationalisation process in a transition (phase) will continue... Such rationalisation in future will depend on revenue buoyancy," the finance minister said.

On Friday, the GST Council, led by Jaitley, slashed rates of over 200 items with the levy on 176 reduced from 28% to 18%, leaving just 50 in the highest slab. While state FMs have said this list will be pruned further, a change in lower slabs of 12% and 18% is also on the cards in the coming months.

Jaitley has repeatedly said over a period of time, these two rates will converge into one, something he reiterated on Monday but linked it to tax buoyancy.

Jaitley hopes GST rate cuts will reduce inflation

In what seemed to be a response to Rahul Gandhi's claim that Congress will shift all products to a single bracket, Jaitley said: "Those who are speaking of a singlerate GST have no understanding of the tariff structure... they do not have elementary understanding of GST."

With the rate cuts, the government is expecting the gains on a host of products — from cosmetics and razors to washing powder — to be passed on to consumers.

Jaitley said GST has brought down inflation. "This actually reduces inflation. This is one of the advantages of a more efficient tax system... Effectively, today, almost all items in the goods category are better off than they were prior to July 1," he said.

The minister said that including central excise, state VAT and central sales tax, the levy on several items added up to 31%, which was reduced to 28% when GST was launched. Elaborating on it, he said the process of reduction in the top slab was under way since August. "This is a threefour month exercise... These are all consensus decisions of the GST Council and process started after GST implementation. It is juvenile politics to link it with either elections or political demands," the minister said.

He said the GST Council had opted for a structure where food items were exempted, while aam aadmi products were kept in the lowest bracket of 5%. "Wheat, rice or sugar can't be taxed at the same rate as a Mercedes (car) or a yacht or tobacco. So, rates will have to be different." In recent tweets and public meetings in Gujarat, Gandhi has talked about Congress reducing rates to under 18%, something that has been repeated by some of his party colleagues.

Jaitley said revamped filing mechanism that has been put in place, will ease the burden on taxpayers and going forward he wants the system to settle and apprehensions to disappear.


Life Style & Management


How high-protein diet can prevent, treat obesity

High protein diet contains an amino acid called phenylalanine that, according to a latest research, is a new hunger suppressant.

The study shows how phenylalanine reduces food intake by affecting the gut and the brain, and suggests that it may be used to prevent or treat obesity.

Although high protein diets have been shown to be satisfying and to promote weight loss, they can be hard to maintain and may lead to other health problems in the long-term.

Phenylalanine is an amino acid produced in the gut when protein is digested and has previously been shown to affect the release of gut hormones that reduce appetite in rodents.

However, it was unclear exactly how the amino acid was causing this release and whether other systems were involved in phenylalanine's appetite supressing effects.

To investigate the effects of phenylalanine on appetite and gut hormone release, Professor Kevin Murphy and colleagues at Imperial College London, examined the effect of the amino acid on food intake and brain activity in areas known to be involved in appetite regulation.

Mice were given phenylalanine, either orally or rectally, to assess the effects on different parts of the gut.

Food intake was monitored at regular intervals over 24 hours and the amount of activity in brain areas associated with appetite regulation was also assessed. Both oral and rectal phenylalanine reduced food intake of the mice and increased activation in a brain area known to be involved in regulating appetite.

After rectal administration, even an amount of phenylalanine 10 times lower than would be eaten daily on a high protein diet, resulted in reduced food intake and activated the appetite regulating centres in the brain.

These data suggest that phenylalanine may reduce appetite through different pathways in the upper and lower gut. Although unknown whether phenylalanine has the same effects on human appetite, this research indicates that the amino acid may have an important role in regulating food intake that could be used to treat obesity.

Mariana Norton, the PhD student who conducted the study, comments, "Understanding how food is detected in the gut may help to identify ways of treating or preventing obesity. The next step is to establish whether phenylalanine can drive similar appetite reducing effects in humans."

Norton further states, "Diets high in protein are known to encourage weight loss but adhering to them can be difficult. Identifying the mechanisms that sense the protein may allow us to use drugs or functional foods to hijack appetite regulation, and treat obesity."

The findings were presented at the Society for Endocrinology annual conference in Harrogate.

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