Business

India Examines Effects of US Tariffs to Maintain Trade Stability: Minister

Published

9 months ago

March 18, 2025

The Indian government is actively assessing the effects of the 25% tariff on steel and aluminium imports recently implemented by the United States, as reported in Parliament on Monday.
This import duty was introduced through proclamations by President Donald Trump on February 10 and officially took effect on March 12.

Minister of State for Finance, Pankaj Chaudhary, assured the Lok Sabha that the Department of Commerce is conducting a comprehensive analysis to understand the implications of these new tariffs on India’s trade landscape.

He also noted that there have been no similar proclamations affecting critical sectors such as pharmaceuticals, automobiles, and semiconductors.

In response to a different question, Chaudhary underscored India’s commendable progress in the global battle against money laundering and terrorism financing. He revealed that, out of the 40 recommendations set forth by the Financial Action Task Force (FATF), India achieved either a ‘Compliant’ or ‘Largely Compliant’ rating for 37 of them.
The nation received a ‘Partially Compliant’ status in three areas and recorded no ‘Non-Compliant’ ratings.

Thanks to this high level of compliance, India has been placed under a ‘regular follow-up’ by the FATF, which is the most favorable assessment possible under the organization’s framework. Chaudhary pointed out that only three other G20 countries share this status, reinforcing India’s role in international efforts against financial crimes.

Meanwhile, a report from SBI Research indicates that the tariffs imposed by the US are unlikely to significantly impact Indian exports. This resilience is attributed to India’s diverse trade portfolio and proactive expansion into new markets.
The report highlights that India is working on enhancing value addition in exports, seeking alternative trading routes, and restructuring supply chains that connect with Europe, the US, and the Middle East.

It is estimated that the decline in India’s exports due to these tariffs will be limited to about 3% to 3.5%. However, this decline is expected to be balanced out by increased exports in both the manufacturing and services sectors.

Business

Petroleum and Natural Gas Rules Amended to Ease Business and Operations

Published

22 hours ago

December 12, 2025

Namma Kudla

The Union Government has approved amendments to the Petroleum and Natural Gas Rules, 2025 to promote domestic exploration and production. Union Minister Hardeep Singh Puri announced the changes on Thursday. He said the revised rules will offer greater ease of doing business and smoother operational procedures for companies in the energy sector.

One of the key amendments allows for long-duration leases. The lease period has now been increased from 20 years to 30 years. It can also be extended further up to the life of the field. Officials said this long-term clarity will help companies make better investment decisions.

The rules also provide another major reform. A company that receives a petroleum lease will now have the right to carry out all types of mineral oil operations under a single lease. This replaces the earlier system that required multiple permits.

According to the Ministry, the amendments aim to strengthen infrastructure, boost exploration activities, and support India’s long-term energy needs. The government expects the updated rules to attract more investors and improve efficiency in the sector.

Business

Egg Prices Rise in Bengaluru as New Year Nears

Published

4 days ago

December 9, 2025

Namma Kudla

Egg prices in Bengaluru have increased sharply. The rate, which was ₹5 per egg a month ago, has now touched ₹7. The city is also facing a shortage in supply. Traders say that demand for eggs rises in December due to Christmas, New Year celebrations, and higher non-vegetarian consumption during winter.

Supply from Tamil Nadu has also reduced, causing further pressure on local markets. According to the Karnataka Poultry Traders Association, Bengaluru needs about 1.10 crore eggs daily, but there is a shortage of nearly 30–40 lakh eggs.

Last year’s bird flu outbreak also affected poultry farms, leading to lower production this season.

Goa has seen a similar trend. Egg prices there have increased to ₹90 per dozen, and further hikes are expected in the third week of December. Reports suggest that rates may stay high until early 2026.

Goa depends heavily on neighboring states for its supply — around 80% from Karnataka and the rest from Maharashtra. Meanwhile, gold prices too have shown an upward trend.

Business

MRPL Wins Fourth Consecutive Best Refining Innovation Award at ETM 2025

Published

1 month ago

October 29, 2025

Namma Kudla

Hyderabad, October 28, 2025:

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a leading Category-I Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas, has achieved yet another milestone. The company has won the Innovation Award 2024-25 for Best Innovation in Research & Development in Refining Technology at the 28th Energy Technology Meet (ETM 2025) held in Hyderabad.

This marks MRPL’s fourth consecutive victory at these prestigious national awards, reaffirming its position as a pioneer in indigenous innovation within India’s refining sector.

The award recognizes MRPL’s breakthrough “Gradual Olefins and Aromatic Technology (GOAT)”, an advanced Crude-to-Chemicals process developed entirely by the company’s in-house R&D team. The GOAT technology demonstrates India’s growing capability to transform crude oil directly into high-value petrochemicals, thereby improving energy efficiency, cutting carbon emissions, and contributing to the nation’s sustainable refining goals.

The award was presented by Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas. The ceremony was organized by the Centre for High Technology (CHT) at the Hyderabad International Convention Centre (HICC).

Receiving the award on behalf of MRPL were Shri Nandakumar V. Pillai (Director – Refinery), along with Chief Managers Shri Karthick R. and Shri S. Nirmal Ganesh from MRPL’s Innovation Centre.

The 28th Energy Technology Meet, themed “Green Energy Horizons: Advancing Sustainable Refining & Energy Innovation,” serves as India’s leading platform for sharing advancements in refining and clean energy technologies. Organized by CHT under the Ministry of Petroleum & Natural Gas, ETM 2025 brings together refiners, petrochemical producers, technology providers, equipment manufacturers, and service companies from India and abroad to discuss sustainable and low-carbon pathways for the energy sector.

The three-day event, held from October 28 to 30, 2025, focuses on innovations driving India’s energy transition and circular economy efforts.

Speaking after receiving the award, Shri Nandakumar V. Pillai said,

“MRPL has always been a frontrunner in adopting and developing advanced technologies. Our Innovation Centre is not only creating but also implementing breakthrough technologies like GOAT — a futuristic Crude-to-Chemicals process that many in the global refining industry are still aspiring to achieve. Winning this recognition for the fourth consecutive year reflects our team’s commitment, creativity, and technical excellence. I congratulate our Innovation Centre team and wish them continued success in future innovations.”