In its letter, the Indian Steel Association talked about issues related to price of raw materials, shortage in global steel supply and lower capacity due to Covid.
India’s total iron and steel exports in the first five months of this fiscal to China were more than three times the figure in the entire financial year 2019-20.
Brazil surpassed the US in new coronavirus cases last week, and the disease is now spreading in northern states such as Para, which accounts for 8% of global iron ore supply.
India's iron ore production will take a big hit as delays in auctions of mining leases, due to expire in March, threaten to push the domestic market to a deficit from a surplus.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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