The Indian government aims to boost steel production capacity to 300 million tonnes (MT) and achieve a per capita consumption rate of 160 kg by 2030. In the fiscal year 2025 (from April to December), the production figures reported were 110.99 MT for crude steel and 106.86 MT for finished steel.

In addition, the production-linked incentive (PLI) scheme 1.1 for specialty steel has attracted investment commitments of Rs 17,000 crore in its second round, signaling a push for greater global competitiveness in India’s specialty steel sector.

To support this ambitious growth trajectory, the ‘India Steel 2025’ conference is scheduled for next week in Mumbai. This event aims to create new opportunities for inter-state and international collaboration, encourage knowledge sharing, and highlight India’s policy reforms and infrastructure projects designed to improve the ease of doing business within the steel supply chain.

Prime Minister Narendra Modi will address the global steel industry event via video conferencing on April 24. The conference will also host prominent global industry leaders and high-ranking foreign dignitaries, including the Deputy Minister of Industry and Trade of Russia, along with the Ambassadors from Australia, Mozambique, and Mongolia, demonstrating the strengthening international partnerships and strategic cooperation within the steel domain.

With an estimated attendance of over 12,000 business visitors, 250 exhibitors, and 1,200 conference delegates from diverse sectors, including government departments, state governments, and international buyers, this conference is expected to be one of the largest steel industry gatherings globally.

The agenda will include country-specific sessions with key steel-producing nations such as South Korea, Sweden, Australia, and Mongolia, focusing on joint research, technology exchange, and building robust supply chains to mitigate risks in India’s steel production while enhancing global competitiveness.

A Reverse Buyer-Seller Meet will also be organized to promote trade opportunities and foster new business relationships, as outlined by the Ministry of Steel.

India’s retail inflation reached a six-year low in March, with significant price drops observed in ginger, tomato, cauliflower, jeera, and garlic. According to data from the Ministry of Finance, prices for these items fell drastically, with ginger dropping by 38.11%, tomatoes by 34.96%, cauliflower by 25.99%, jeera by 25.86%, and garlic by 25.22%.

In March 2025, the five items that experienced the highest year-on-year inflation included coconut oil at 56.81%, coconut at 42.05%, gold at 34.09%, silver at 31.57%, and grapes at 25.55%.

The health sector saw a slight uptick in prices, with inflation reaching 4.26% in March, up from 4.12% the previous month. In urban areas, housing inflation increased marginally to 3.03% from February’s 2.91%. Similarly, inflation in the transport and communication sector rose to 3.30% in March, compared to 2.93% in February. The fuel and light category rebounded to 1.48% in March from a negative 1.33% in February, affecting both rural and urban regions. Education-related inflation also recorded a modest increase, rising to 3.98% from 3.83% the prior month.

Overall, India’s retail inflation—reflected by the Consumer Price Index (CPI), which tracks the cost of everyday goods and services—declined to an impressive 4.6% for the fiscal year 2024-25, marking the lowest level since 2018-19. The year-on-year food inflation, based on the Consumer Food Price Index (CFPI), stood at 2.69% in March 2025, the lowest since November 2021, showing a significant decrease of 106 basis points from the previous month. Rural food inflation was recorded at 2.82%, while urban food inflation was 2.48%.

The overall easing of food prices was driven by falling inflation in essential categories, including vegetables, eggs, pulses and products, meat and fish, cereals and products, and dairy. Notably, both headline inflation and food inflation showed a marked decrease in rural areas, with headline inflation decreasing from 3.79% in February to 3.25% in March, and food inflation dropping from 4.06% to 2.82%.

Bharat Heavy Electricals Ltd (BHEL), a leading player in the public sector engineering domain, has reported an impressive 19% year-on-year increase in revenue, reaching ₹27,350 crore for the financial year 2024-25, as announced in a company statement on Sunday.

The company achieved its highest order inflows to date, totaling ₹92,534 crore, bringing its overall order book to ₹195,922 crore by the end of FY 2024-25.

BHEL continues to lead in the power sector with orders worth ₹81,349 crore. Currently, the company has 39 boilers in its order backlog. Leading the way, Adani Power has placed the most orders for these boilers, totaling 14 units, all with a capacity of 800 MW for thermal power plants. This is followed by the National Thermal Power Corporation (NTPC) with 11 boilers. Additionally, state-owned enterprises from Chhattisgarh, Gujarat, and Maharashtra have also contributed orders, with Neyveli Lignite Corporation (NLC) and Damodar Valley Corporation (DVC) ordering three and four boilers, respectively. Among the 39 boilers, 31 are 800 MW each and eight are 660 MW each.

Recently, BHEL received a Letter of Intent (LOI) for an engineering, procurement, and construction (EPC) package for two 660 MW ‘Supercritical’ thermal power plants at Hasdeo Thermal Power Station in Chhattisgarh’s Korba district. The contract includes the supply of supercritical equipment like boilers, turbines, generators, along with the execution of civil works.

In addition to its power sector achievements, BHEL’s industrial segment secured fresh orders worth ₹11,185 crore, demonstrating the company’s broad reach across various fields including transportation, defense, process industries, and industrial equipment.

To date, BHEL has commissioned or synchronized 8.1 GW of thermal power capacity, underscoring its ongoing dedication to project delivery and operational efficiency. With double-digit revenue growth, a record order book, and a robust execution pipeline, BHEL is poised to enter FY 2025-26 with significant momentum. The company remains focused on providing impactful infrastructure, promoting indigenisation, and enhancing stakeholder value.