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NC Election 2025-27
Daily Pour
Date: 03/06/2025 Issue No.: 3703/24-25
Compiled By: Aarti Ghag, Sr. Officer - WR
B. Ramchandran, Chennai
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IIF News
Dear All,
For IFEX 2026 Space Booking
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With Regards,
Aarti Ghag
Sr. Officer, IIF-WR
7303511171
Thought of the Day
News Letter Supported By
Today's Top Raw Materials Headlines
*** India: Melting scrap prices climb up by INR 400/t d-o-d in Alang
*** India: Big Mint's ferrous scrap index improves marginally by INR 200/t
*** Indian Scrap buyers cautious amid weak steel demand
*** India: SMIORE posts robust manganese ore output in FY'25
*** India: Coal India sees softening in production, dispatch volumes for May'25
*** India: SAIL's Alloy Steel Plant issues purchase tender for 66 t of ferro titanium
*** Chinese Manganese Flake prices remain weakly stable
*** Chinese PrNd Misch metal price rise
Raw Material News
India: Melting scrap prices climb up by INR 400/t d-o-d in Alang
Ship-breaking melting scrap prices in Gujarat's Alang increased by INR 400/t d-o-d on 2 Jun'25, as per BigMint's assessment. HMS (80:20) stood at INR 32,900/t ($385/t) exy. Inquiries for both semi-finished and finished steel rose in the previous trading session, driving active demand for scrap. Consequently, in response to the increased buying interest, scrap suppliers raised their prices.
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India enforces melt and pours rule to prioritize domestic steel in public projects
The Indian government updated its Domestically Manufactured Iron & Steel Products Policy 2025 to require that only steel melted and poured within India be used in government-funded projects. This new rule mandates that crude steel must be produced locally from raw materials, closing earlier policy loopholes.
Officials said the move strengthens regulations and promotes fully domestic production over imported steel with added value. Previously, imported steel could meet procurement standards with minimal local processing, but that is no longer allowed.
According to India’s credit rating agency ICRA, steel market participants must now manufacture crude steel in India to qualify for public contracts.
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India: SMIORE posts robust manganese ore output in FY'25
Sandur Manganese and Iron Ores (SMIORE) recorded robust manganese ore production of 510,000 t in FY'25, up by 59% from 320,000 t in FY'24. However, sales of the same declined by 10% y-o-y.
Ferro alloys production stood at 27,389 t in FY'25, down by 5% from 28,694 t in FY'24. Meanwhile, sales dropped sharply to 17,954 t in FY'25 compared to 28,446 t in FY'24.
Industry News
India Releases Guidelines for Electric Car Manufacturing Scheme
New Policy Offers Import Duty Cuts in Exchange for Rs. 4,150 Crore Investment Commitment
The Ministry of Heavy Industries has issued detailed guidelines for its Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMPCI), outlining how global automakers can access reduced import duties while establishing local manufacturing operations.
The scheme, first announced in March 2024, targets electric passenger car manufacturers with specific investment requirements and timeline commitments. It represents a shift from India's broader automotive incentive programs toward sector-specific policies focused on electric vehicles.
Companies seeking to participate must commit to investing a minimum of Rs. 4,150 crore (approximately USD 500 million) within three years of approval. This investment must go toward establishing manufacturing facilities and operations for electric passenger cars within India.
The policy is designed to attract established global manufacturers rather than startups, with eligibility criteria requiring companies to have significant existing automotive operations and financial capacity.
Import Duty Relief Structure
The scheme's primary incentive is a reduction in customs duties for imported electric vehicles. Approved companies can import fully-built electric cars valued at USD 35,000 or more at a 15% duty rate, compared to the standard higher rates.
The import allowances come with caps:
- - Maximum 8,000 vehicles per year at reduced rates
- - Five-year period for the duty benefits
- - Total duty savings capped at Rs. 6,484 crore or actual investment, whichever is lower
- - Unused annual quotas can be carried forward
Localization Requirements
Participating companies must gradually increase domestic content in their manufacturing:
- - 25% domestic value addition within three years
- - 50% domestic value addition within five years
These targets aim to ensure that the import duty benefits translate into genuine technology transfer and local supply chain development, rather than serving as permanent subsidies for imported vehicles.
To ensure companies follow through on their commitments, the scheme requires a bank guarantee equal to either the total duty savings or Rs. 4,150 crore, whichever is higher. The guarantee must remain valid throughout the scheme period and will be forfeited if companies fail to meet investment or localization targets.
What Counts as Investment
The guidelines specify which expenditures qualify toward the investment commitment:
- - Manufacturing equipment and machinery
- - Research and development facilities
- - Charging infrastructure (up to 5% of total investment)
- - Land and buildings (limited to 10% of investment if part of main manufacturing facility)
The ministry plans to launch an online portal for submissions and will use existing procedures from the PLI automotive scheme to evaluate domestic value addition claims.
Certification of local content will be handled by government-approved testing agencies, following established protocols from other automotive incentive programs.
Market Context
The policy builds on India's existing automotive incentive framework but narrows the focus specifically to electric passenger cars. Unlike the broader PLI scheme for automotive components, SPMPCI targets finished vehicle manufacturing by companies with substantial global operations.
India's electric passenger car market remains small compared to two-wheelers and three-wheelers, which have seen faster adoption due to lower costs and simpler charging requirements. The new scheme appears designed to accelerate four-wheeler adoption by reducing the cost barrier for global manufacturers to test the Indian market while building local capacity.
Implementation Timeline
Key deadlines under the scheme:
- 3 years: Manufacturing operations must commence
- 3 years: 25% domestic value addition target
- 5 years: 50% domestic value addition target
Policy Implications
The scheme reflects the government's approach of using temporary import duty relief to encourage longer-term manufacturing investments. Rather than permanent tariff reductions, it offers time-limited benefits tied to specific performance milestones.
For global automakers, the policy provides a way to test Indian market demand for higher-end electric vehicles while building the manufacturing base needed for longer-term operations. The substantial investment requirements suggest the government is targeting companies planning significant, long-term commitments rather than short-term market entry strategies.
The focus on electric passenger cars also aligns with India's climate commitments, though the scheme's immediate impact will depend on how many global manufacturers decide the market opportunity justifies the required investment levels.
Applications are expected to open in the coming weeks once the online portal becomes operational.
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Mercedes-Benz, Volkswagen, Hyundai, Show Interest in India’s Electric Car Manufacturing Scheme
India’s EV manufacturing push gains global interest as automakers line up. The government’s new policy aims to attract investments, boost local production, and position India as a global EV hub.
Global automakers including Mercedes-Benz, Volkswagen, Skoda, Hyundai, and Kia have formally expressed interest in India’s scheme to promote the manufacturing of electric passenger cars, according to Minister of Heavy Industries HD Kumaraswamy.
“Mercedes-Benz, Volkswagen, Skoda, then Hyundai and Kia — all these companies have already shown interest formally. Tesla, we are not actually expecting from them. They are only to start showrooms, they are not interested in manufacturing in India, as per the information that is with us today,” Kumaraswamy said.
The scheme, formally announced in 2024 by the Ministry of Heavy Industries, is designed to attract global investments into India’s electric vehicle sector and position the country as a manufacturing hub. It offers a reduced import duty of 15% on electric vehicles priced at $35,000 or more – down from the standard 70% — for a period of five years. This benefit is capped at 8,000 units per year and tied to a commitment from participating companies to invest at least ₹4,150 crore (around $500 million) within three years.
Under the scheme, companies must also commit to increasing domestic value addition over time – 25% within three years and 50% within five years. The policy stipulates that investments must go toward manufacturing facilities, machinery, research and development, and other eligible infrastructure – though land costs are excluded. Up to 5% of total investment can go toward charging infrastructure, with building costs capped at 10% if part of the main manufacturing plant.
There won't be any maximum limit on investments that can be made for R&D in the total committed investment, while for charging infra, maximum investment that can be made is upto 5%, the minister said.
“The scheme will help position India as a global hub for electric vehicles. It will promote local jobs and boost local manufacturing, while supporting India’s climate goal of net zero emissions by 2070,” Kumaraswamy said.
The scheme’s application process is set to open soon, with an initial window of 120 days for submissions. Companies will have to pay a ₹5 lakh non-refundable application fee to participate. Kumaraswamy added, “We will know the real intent of companies when we open the application window and see who actually applies to invest and manufacture in India.”
Only large companies with at least 10,000 crore annual revenue from auto manufacturing and at least 3,000 crore investment in assets worldwide will be able to apply for the scheme, the minister said.
Life Style and Management
Just 45 mins of walking per week may reduce arthritis complaint of adults
Good news for older adults dealing with discomfort in their joints, as just 45 minutes of brisk walking per week can benefit those with suffering from arthritis, so that they remain functional.
The findings, published in journal of Arthritis Care & Research, indicated that participants, who achieved this minimum of 45 minutes of moderate activity, such as brisk walking, per week were 80 percent more likely to improve or sustain high future function over two years compared with those doing less.
Researchers from Northwestern University wanted to determine a less overwhelming activity goal to get this population up and moving and 45 minutes per week was that magic number.
The study, true for both men and women, found that approximately one third of participants improved or had high function after two years.
"Even a little activity is better than none," said first author Dorothy Dunlop.
"For those older people suffering from arthritis who are minimally active, a 45-minute minimum might feel more realistic," Dunlop added.
Using sophisticated movement-monitoring accelerometers, the researchers measured the physical activity of 1,600 adults from the nationwide research study, Osteoarthritis Initiative, who had pain, aching or stiffness in their hips, knees or feet.
"The federal guidelines are very important because the more you do, the better you'll feel and the greater the health benefits you'll receive," Dunlop stated.
"But even achieving this less rigorous goal will promote the ability to function and may be a feasible starting point for older adults dealing with discomfort in their joints," Dunlop noted.
"We found the most effective type of activity to maintain or improve your function two years later was moderate activity, and it did not need to be done in sessions lasting 10 minutes or more, as recommended by federal guidelines," Dunlop said.
They concluded that moderate-intensity activity rather than light activity, such as pushing a grocery cart, to be more valuable to promote future function.
Jokes All the Way......
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