Daily Pour

Date: 28/11/2025   Issue No.: 3796/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

Dear all,

  

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IIF Annual Awards 2024-25

Thought of the Day

News Letter Supported By

Today's Top Raw Materials Headlines

*** India: Melting scrap prices increase by INR 300/t d-o-d in Alang

*** India: Foundry ferrous scrap prices strengthen in Kolkata, remain stable in Kolhapur

*** India: Foundry ferrous scrap prices strengthen in Kolkata, remain stable in Kolhapur

*** India: Mill scale prices hold steady across key regions amid active trade

*** India: Ferrous scrap prices remain stable for 3rd successive week in Chennai

*** India: Leading 4 wheeler auto maker receives overwhelming response in CR busheling scrap auction

*** India: BigMint's ferrous scrap index gains INR 200/t d-o-d; moderate market trend

*** India: Met coke prices hold steady despite regional divergence

Raw Material News

India: Melting scrap prices increase by INR 300/t d-o-d in Alang

Ship-breaking melting scrap prices in Gujarat's Alang increased by INR 300/t d-o-d on 27 Nov'25, as per BigMint's assessment. HMS (80:20) stood at INR 31,100/t ($348/t) exy. The regional market witnessed active trading, supported by an INR 200-400/t increase in semi-finished and finished steel prices. Additionally, decent buying inquiries for scrap prompted suppliers to raise their offers today.

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India: CR busheling scrap prices surge in latest auction from leading 4-wheeler manufacturer

India's leading four-wheeler manufacturer auctioned 7,110 t of low-manganese CR busheling today from its Manesar, Haryana, plant, with the entire lot booked at INR 34,000-34,200/t ex-works. This marks a sharp rise of INR 2,440/t from the previous auction, driven by tightening supply and strong demand. In the previous auction in late Oct'25, 6,000 t of the same grade were booked at INR 31,550-31,700/t.

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India: Ferro titanium prices inch down w-o-w

Indian ferro titanium prices (Ti 70%, 10-50 mm) eased by INR 4,500/t ($50/t) w-o-w to INR 288,000/t ($3,223/t) exw on 27 November. The slight correction was due to a slowdown in the global market and a gradual recovery in demand from end-user sectors, keeping overall market momentum limited.

Industry News

 India's Engineering Hardware Industry Poised for Billion-Dollar Growth, New Report Reveals

CII, KPMG, and Synopsys launch comprehensive report highlighting opportunities and challenges in India's hardware startup ecosystem.

India's engineering hardware industry is on track to reach $296 billion by 2034, according to a new report launched today at the ICONN Summit 2025. The Engineering Hardware Industry Startup Ecosystem Report, developed by the Confederation of Indian Industry (CII), KPMG, and Synopsys Inc., presents the first comprehensive analysis of India's hardware innovation landscape.

The report draws on insights from over 100 engineering and hardware startups across cleantech, defense, electronics, and advanced manufacturing sectors. It identifies critical barriers to growth while outlining strategic recommendations for startups, investors, and policymakers to accelerate India's progress toward the Viksit Bharat 2047 vision.

Key Challenges Identified

Access to resources remains a significant hurdle for hardware startups. The report found that 53% of startups struggle with access to digital tools, while 55% face difficulties obtaining affordable digital design technologies. Infrastructure limitations were cited by 52% of respondents as a major constraint.

The talent shortage emerged as another critical issue, with 67% of startups identifying the lack of technically trained professionals as a key challenge. Meanwhile, 73% of respondents highlighted funding accessibility, particularly for early-stage ventures, as a pressing concern despite expanding opportunities in the investment landscape.

Strategic Recommendations

The report proposes establishing specialized testing facilities, fabrication labs, and prototyping centers through public-private partnerships to address infrastructure gaps. For talent development, it recommends virtual training programs using mixed reality devices and closer collaboration between academia and industry to provide real-world experience to students.

To improve funding access, the report calls for dedicated investment vehicles targeting hardware startups, including support from venture capital firms, angel investors, corporate venture arms, and government-backed entities. Early-stage capital and investor matchmaking services are emphasized as critical enablers.

C K Ranganathan, Co-Chairman of CII National Startup Council, emphasized the report's significance in advancing India's global competitiveness. "Deep-tech and hardware innovation will serve as vital drivers in achieving global leadership in manufacturing and technology," he stated.

Murali Pullela, Area Sales Director at Synopsys Inc., highlighted the importance of access to advanced simulation and design tools. "Strategic interventions are the need of the hour to unlock the sector's full potential," he said, noting Synopsys's commitment to empowering startups with advanced capabilities.

Roadmap for Growth

For startups, the report recommends focusing on value-added partnerships, enhancing digital capabilities, and prioritizing sustainable product development to achieve long-term differentiation and scalability.

Policymakers are urged to strengthen partnerships between academia and industry, improve regulatory support mechanisms, and establish robust intellectual property protection frameworks to create a favorable environment for innovation and commercialization.

Investors and institutions are encouraged to adopt outcome-oriented funding mechanisms and provide patient capital, recognizing the longer development cycles inherent to deep-tech and hardware ventures.

The ICONN Summit 2025 brings together corporate companies, investors, and startups to foster partnerships driving India's innovation-led and sustainable growth. The Engineering Hardware Industry Startup Ecosystem Report aims to serve as a catalyst for dialogue and strategic action in positioning India as a global hub for engineering innovation.

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India-US Trade Breakthrough: Exports Rise Despite Trump Tariff Threats

India's Commerce Secretary has reported positive growth in exports to the United States despite ongoing trade tensions. The Parliamentary Standing Committee on Commerce is closely monitoring the situation and has requested detailed explanations on several trade-related concerns. Both countries appear to be making significant progress toward a bilateral trade agreement, with President Trump expressing optimism about reaching a deal. The next committee meeting in December will bring together multiple government ministries and industry representatives to further discuss India-US trade relations.

Commerce Secretary Rajesh Agrawal reports rising India-US exports amid tariff negotiations. Parliamentary committee reviews trade relations and prepares for December 16 meeting.

Commerce Secretary Rajesh Agrawal informed the Parliamentary Standing Committee on Thursday that India's exports to the United States have increased.

The Parliamentary Standing Committee on Commerce held a meeting during which the Commerce Secretary was summoned for a detailed review of India-US trade relations in the backdrop of rising tariffs imposed by the Trump administration.

Committee members sought multiple clarifications from the ministry--particularly on the depreciation of the Indian rupee against the US dollar and the impact of higher tariffs on Indian farmers. Members also pressed the ministry to explain the support measures being planned for industries that have been severely affected by the tariff hikes.

According to sources, after addressing the panel's questions, the Commerce Secretary requested ten days to prepare detailed responses on these issues. The ministry is expected to submit a comprehensive written reply within this period.

Sources added that the next meeting of the Parliamentary Standing Committee on Commerce will take place on December 16. Officials from the Ministry of External Affairs, the MSME Ministry, and the Ministry of Textiles will also be invited for discussions on India-US trade relations. The Commerce Secretary's submissions will form part of these deliberations.

Representatives from major industry bodies, including FICCI, ASSOCHAM, and other trade associations, will also participate in the December 16 meeting.

The Commerce Secretary said earlier this month that India and the US are "nearing closure" in their talks for signing the first tranche of the proposed Bilateral Trade Agreement (BTA).

Agrawal told journalists that the two countries have been holding regular virtual rounds of talks on the BTA. Although no formal deadlines can be set on the issue, the first stage of the trade talks is progressing swiftly, he added.

US President Donald Trump sent positive signals on strengthening U.S.-India relations this month, raising fresh hopes that a bilateral trade agreement between the world's two largest democracies could be signed soon.

Trump told reporters at the White House that his talks with Indian Prime Minister Narendra Modi were "going great" and that a visit to Delhi could take place next year.

Earlier, Trump said that he plans to "lower tariffs" imposed on India "at some point", indicating that a breakthrough in the trade talks could come soon.

"I think we're pretty close to doing a deal (with India) that's good for everybody," Trump said, in answer to a question from the media, at the ceremony for swearing in Sergio Gor as the new US Ambassador to India.

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Jokes All the Way......

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The Institute of Indian Foundrymen