Daily Pour

Date: 06/10/2025   Issue No.: 3765/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

 Dear all,

 

74th Indian Foundry Congress & IFEX 2026

 

Venue : BOMBAY EXHIBITION CENTER (NESCO) GOREGAON, MUMBAI

Dates : 12-14th Feb 2026

 

Welcome to the largest gathering of the Indian Foundry Industry

Experience networking, innovation & opportunities at the next level!

 

Email: register@ifcindia.net

Registration: https://www.ifcindia.net/registrationdetails.html

 

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Thought of the Day

News Letter Supported By

Today's Top Raw Materials Headlines

*** India: Melting scrap prices remain unchanged d-o-d in Alang

*** India: BigMint's scrap index falls by INR 100/t w-o-w amid tepid steel market

*** India: Mill scale prices show stability in key regions

*** India: Chennai's ferrous scrap prices dip by INR 300/t w-o-w on weak steel demand

*** India: Imported stainless steel scrap offers inch up on strengthening USD

*** India: Nayara Energy raises pet coke prices for Oct'25 on tighter supply

*** India: Imported pet coke offers steady as sellers hold firm during holidays

*** India: Dry bulk coal freight rates show mixed trends amid sluggish trading

Raw Material News

India: Melting scrap prices remain stable for third consecutive day in Alang

Ship-breaking melting scrap prices in Alang, Gujarat, remained stable for the third consecutive day on 4 Sep'25. According to BigMint's assessment, HMS (80:20) prices were at INR 30,500/t ($344/t) ex-yard. Though semi-finished and finished steel prices decreased in yesterday's trading session in the region, moderate buying inquiries for scrap by the Bhavnagar-based IF steel mills prompted suppliers to keep offers stable today.

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India: Melting scrap prices remain unchanged d-o-d in Alang

Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d on 3 Oct'25. According to BigMint's assessment, HMS (80:20) prices were at INR 30,500/t ($344/t) ex-yard. Average trade activity was observed for semi-finished and finished steel during previous trading session in the region. Additionally, moderate buying inquiries for scrap by the Bhavnagar-based IF steel mills prompted suppliers to keep offers stable today.

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India: Mill scale prices show stability in key regions

Mill scale prices remained unchanged in Kandla and Raipur.

Kandla: Prices held steady at INR 8,100/t DAP against 1 Oct; 7,500 t were booked at INR 8,000-8,100/t DAP. Aggressive export and domestic demand kept trade strong, keeping prices firm.
Raipur: Prices were stable at INR 6,200/t exw against 1 Oct; no major trades were recorded.

Industry News

Govt Eases PMP Guidelines Under PM E-Drive for e-Trucks, Buses to Import Motors

The amended PMP guidelines now mandate localizing traction motors containing magnets for electric trucks in the N2 category and electric buses only from March.

In a major relief to electric truck and bus makers claiming incentives under the PM E-Drive scheme, the government has eased localisation requirements for manufacturers of medium-duty electric trucks and buses, allowing them to continue importing traction motors that use magnets until March next year.

Under the Rs 10,900-crore PM E-Drive scheme, the government provides incentives to electric two-wheelers, three-wheelers, trucks and buses. Subsidies are subject to compliance with PMP, which ensures domestic value addition.

The Ministry of Heavy Industries has issued a notification that amends the Phased Manufacturing Programme (PMP) guidelines for electric trucks under the N2 category (3.5–12 tonnes) and electric buses in this regard.

Earlier, for N2 category trucks and electric buses, the traction motor—“which at least includes magnet fitment, fitment of rotor assembly into the motor, fitment of stator assembly into the motor, shaft fitment, bearing fitment, enclosure fitment, connectors fitment, cables fitment” was mandated to be manufactured domestically from September 1.

The amendment provides a six-month extension for the domestic manufacturing of traction motors. Under the revised Phased Manufacturing Programme (PMP) guidelines, these motors must now be produced in India for N2 trucks starting March 1 and for electric buses starting March 3.

The relaxation in domestic value addition requirements comes as China has suspended exporting magnets, which are crucial for motors. Automakers have been struggling to secure the supply of magnets, and many resorted to importing magnet-containing complete or sub-assemblies, or motors from China to ensure their production.

The PM E-Drive scheme has an allocation of Rs 500 crore for electric trucks. Incentives are given for electric trucks with a GVW exceeding 3.5 tonnes but not more than 55 tonnes. The incentive will be calculated as ₹5,000 per kilowatt-hour (kWh) of battery capacity, or up to 10% of the vehicle’s ex-factory price, whichever is lower.

Electric trucks under the N2 category qualify for a maximum incentive of Rs 2.7 lakh. Trucks with a GVW exceeding 7.5 tonnes and up to 12 tonnes are eligible for a maximum subsidy of Rs 3.6 lakh. Subsidies can be availed only if the consumer buys an electric truck with a Certificate of Deposit (CD) obtained after scrapping an old vehicle.

Electric buses got the highest allocation in the scheme, with a total of Rs 4,391 crore to incentivise 14,028 electric buses for state transport units and other public transport agencies. Electric buses with a maximum ex-factory price of Rs 2 crore get a subsidy of Rs 10,000 per kWh. The maximum limit for subsidy for electric buses with 10–12 metres has been set at Rs 35 lakh, while buses with 8-10 metres and 6–8 metres have caps of Rs 25 lakh and Rs 20 lakh, respectively.

Meanwhile, the government is looking to reduce dependence on Chinese rare earth magnet imports through subsidies for domestic magnet manufacturing.

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Gromax Launches Eight New Tractors, Including India's First Sub-50 HP Cabin Model

The company launches eight new Trakstar tractors, including India’s first sub-50 HP factory-fitted cabin model, targeting specialized farming needs and festive-season demand.

Gromax Agri Equipment Ltd., a joint venture between Mahindra & Mahindra Ltd. and the Government of Gujarat, has announced the launch of eight new tractors spanning both 4WD and 2WD categories, with a flagship introduction of India's first factory-fitted cabin tractor in the under-50 horsepower segment.

The new lineup, marketed under the Trakstar brand, is designed to address various agricultural applications including orchard cultivation, areca-nut farming, inter-cultivation, puddling, and haulage operations. According to the company, the tractors feature diesel engines and gearbox technology aimed at operational efficiency.

The Trakstar Kavach series represents the company's entry into the factory-fitted cabin segment for tractors below 50 HP. The initial rollout includes non-air-conditioned variants, with air-conditioned models planned for a subsequent phase. The cabin feature is positioned as a solution for year-round farming operations, offering protection from weather conditions.

The Kavach series includes the Trakstar 545 4WD and Trakstar 550 4WD models, designed for haulage and general agricultural tasks.

Additional Models

The remaining six tractors cater to specific farming requirements:

The Trakstar 525 4WD NT, a 25 HP model, features a 33-inch track width designed for inter-cultivation in narrow rows. A 2WD variant in the same horsepower category targets orchard farming applications.

In the 40 HP segment, the company has launched the Trakstar 540 HT for haulage and puddling tasks, along with the Trakstar 540 Orchard, which the company describes as India's first 40 HP tractor specifically engineered for areca-nut cultivation.

The 50 HP category includes the Trakstar 550 4WD and Trakstar 550 HT, both designed for heavy-duty agricultural applications including potato farming and multi-utility operations.

The tractors will be available through Gromax dealerships beginning October 2025. The company is offering consumer incentives and gifts during the festive season across nine states: Karnataka, Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Andhra Pradesh, and Telangana.

Veejay Nakra, President of Farm Equipment Business at Mahindra & Mahindra Ltd., stated that the launch aims to provide farmers with products that balance value, performance, and affordability.

The launch coincides with the company's second campaign under its "Sabse Sahi Chunaav" marketing initiative.

Gromax Agri Equipment Ltd., formerly known as Mahindra Gujarat Tractor Ltd., operates a manufacturing facility in Vadodara, Gujarat, with in-house production and testing capabilities.

Life Style and Management

Boost Your Productivity!!

Boost Your Productivity!

As a busy bee, know how hard it is to stay focused and motivated.

Sometimes, our minds can be as dry as the desert.

But fear not! we've got three simple tricks to help you get your creative juices flowing:

1. Grab a pen and paper! Write down any crazy idea that pops into your head.

2. Create a quick template for your next post. It's like having a superhero cape!

3. Plan your content ahead of time. It's like mapping out your next adventure!

Remember, these tips are not magic spells, but they'll definitely help you become more productive and creative!

So, what are you waiting for? Try them out and see the difference!

Jokes All the Way......

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The Institute of Indian Foundrymen