Steel quality rules deferred by a month
NEW DELHI: The Centre on Friday deferred by a month the implementation of quality control order (QCO) for certain steel products.
The QCO, issued last month, mandated that input material for imported steel products, whether finished or semi-finished, adhere to Indian standards framed by the country's quality watchdog, the Bureau of Indian Standards (BIS).
The QCO was effective for imports having a bill of lading date of June 16.
"The mandatory adherence requirement of input steel for imports of steel products with bill of lading having shipped on board date on or before July 15 shall be exempted," the steel ministry said in a clarification. The move brings relief to micro, small and medium enterprises (MSMEs) that had been given little time to comply.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
11 minutes ago
- Time of India
India stands out with its ability to deliver stability, large-scale real estate growth, says Gustavo Favaron
Tired of too many ads? Remove Ads What is the current sentiment of global investors towards Indian real estate? What type of global funds are eyeing India, and what asset classes interest them most? What is holding back global investors from deploying large capital into India? How do global funds view India versus other emerging markets like Brazil or Mexico? Tired of too many ads? Remove Ads Is the Indian real estate market at risk of correction, especially in residential? Is there a growing trend of NRI and diaspora capital returning to India? What real estate segments are expected to lead growth in 2025? What is the biggest obstacle to real estate growth today? India is rapidly becoming a core global investment destination, bolstered by the growing maturity of its real estate developers and the increasing appetite from institutional capital. In a volatile global environment, the country stands out with its ability to deliver large-scale real estate developments and a stable growth outlook. In conversation with Sobia Khan of The Economic Times, Gustavo Favaron , CEO & Managing Partner of GRI Club and Co-founder of 8 Capital , talks about why India is attracting strategic attention, what is still holding back significant capital inflows, and how asset classes like commercial, residential, and warehousing are shaping up. He also discusses the growing influence of Non-Resident Indians (NRIs) in the country's real estate capital flows are influenced by geopolitical and economic uncertainty—wars, inflation, high interest rates, and general instability in traditional markets like the US, UK, and Europe. Amid this chaos, India is seen as a relatively stable and fast-growing alternative. The macro indicators—demographics, policy stability, and economic momentum—are compelling. While established players like Blackstone, GIC, Brookfield, and CPPIB are already active, we are not seeing a high volume of new entrants yet. Many funds are in 'study mode', waiting for clarity globally before making moves. But I firmly believe India is the next big destination for real estate are seeing interest from private equity, pension funds, and sovereign wealth funds—particularly those with a five- to ten-year investment horizon. They like India because of the scale and relative geopolitical neutrality. On asset classes, commercial real estate remains top preference, especially office space and increasingly warehousing. However, residential is emerging too—Blackstone's recent move into residential is a signal. As developers get more mature and organized, international capital will flow more comfortably into Mumbai, and Delhi NCR top the investment charts, driven by strong demand, infrastructure upgrades, and maturing commercial ecosystems. Hyderabad and Pune also rank high, reflecting their emergence as IT and manufacturing hubs. Investors are also eyeing Tier-2 cities like Ahmedabad and Indore, anticipating decentralization and urban sprawl to create the next wave of investable real mature markets still offer distressed opportunities—why would someone travel to Mumbai when they can buy undervalued assets in London? Second, the pace of decision-making— domestic funds in India move faster and adapt quicker. International funds often lose deals due to longer internal processes. Finally, global investors are adjusting to operating in high-interest, inflation-driven environments—something Indian players are already used to. But once these pockets of distressed supply in developed markets dry up, more capital will head India's way. The opportunity is just currently stands out and is seen as more stable and predictable. The country isn't entangled in international conflicts, and the demographics are unmatched. China is shrinking, so is Europe, and the US is also slowing. India remains one of the few large markets with real growth potential. That makes it very attractive to long-term, patient capital.I do not think we are in bubble territory. Yes, residential prices—especially in the high-end segment—have grown sharply, but it was more of an adjustment than a spike. Deep-pocketed buyers still exist, and they will invest in the assets. The market will stabilize, but we are far from saturation. India's overall real estate market is maturing. The quality is better, developers are more professional, and compared to other countries, approvals and bureaucracy are equally complex—so India isn't an outlier. You need to zoom out and look at the cycle holistically and right now, the trajectory is NRIs are increasingly investing back in India—either through REITs or direct real estate. Many Indians living abroad are uncertain about the future in places like the UK or US and see opportunity and growth here in India. This is not a short-term trend—it is accelerating. From the outside, India's rise is often more visible than from within. The momentum is real, and NRIs want to be part of space remains the most sought-after asset class, followed by residential and plotted developments. This trend aligns with the post-pandemic shift toward high-quality, tech-integrated office ecosystems and a growing urban middle class seeking residential ownership. Global investors are increasingly interested in Indian assets with stable, scalable returns, especially in Grade-A office and housing portfolios. Data centers and warehouses also show emerging strength, reflecting India's digital and e-commerce surge. These preferences suggest a recalibration towards long-term, income-generating assets in Tier-1 top concern for developers is regulatory inefficiency—delays in approval processes as the most pressing challenge, followed by rising construction costs and limited access to financing . Yet, developers and investors alike are adapting by focusing on compliance, pre-leased assets, and risk-sharing models. Addressing regulatory bottlenecks could unlock significant capital inflows and fast-track India's real estate maturation.
India Today
22 minutes ago
- India Today
Paper Bag Day: How beauty brands are going green and why it matters?
As the beauty and wellness industry continues to grapple with its environmental impact, Paper Bag Day, observed annually on July 12, offers a timely nudge to revisit long-term sustainability goals. While many sectors are still catching up, leading brands like The Body Shop and Esskay Beauty Resources are already walking the green talk—quite literally, from packaging shelves to salon exclusive conversations industry stalwarts opened up about their brands' ongoing efforts to move beyond performative greenwashing and into a future of tangible SUSTAINABILITY IN RETAIL BEAUTY'Paper Bag Day is a timely reminder for the beauty industry to re-evaluate the environmental footprint of every touchpoint—from shelf to shopper,' says Vishal Chaturvedi, Group Chief Revenue Officer, Quest Retail, The Body Shop. A veteran brand globally known for championing ethical beauty, The Body Shop has eliminated plastic bags entirely from its Indian retail footprint. 'At The Body Shop, we use 100% recycled paper which is reusable,' Chaturvedi initiative isn't just a seasonal campaign or a single SKU marketing strategy—it's rooted in a broader mission. The brand is actively educating consumers to reuse the paper bags and opt for refill stations for skincare and haircare products in select stores. 'As customers become more environmentally conscious, brands must demonstrate leadership through transparency, clear purpose, and decisive action,' he an industry where packaging often becomes the bulk of post-consumer waste, The Body Shop's commitment sends a strong signal: sustainability isn't a luxury or trend, it's a non-negotiable foundation.'Sustainability shouldn't be an isolated effort; it needs to be a fundamental brand commitment,' Chaturvedi concludes—urging peers to view green initiatives not as marketing optics but as moral REVOLUTION FROM THE GROUND UP At the supplier and back-end level, Esskay Beauty Resources—a major distributor to salons and spas—has been paving its own green path. 'Sustainability is the cornerstone for a responsible beauty industry,' says Ankit Virmani, Director, Esskay Beauty the occasion of Paper Bag Day, Esskay is reaffirming its focus on 'low-waste and eco-friendly practices and products.' Virmani believes the revolution must begin at the roots—with brands rethinking materials, manufacturing, and distribution altogether.'We proudly uphold our commitment to the environment with sustainable packaging solutions, replacing single-use plastics with biodegradable alternatives like paper bags and recyclable materials,' he Esskay's vision extends far beyond the bag. Their product line includes vegan, cruelty-free beauty essentials made from ethically sourced ingredients—an alignment that speaks volumes in a market increasingly shaped by conscious consumers.'Our vegan products, crafted with ethically sourced, cruelty-free ingredients, further reflect our dedication to minimising the environmental impact,' says Virmani. 'We are committed to empowering salons to adopt greener practices, thereby ensuring beauty enhances both people and the planet.'FROM PACKAGING TO PURPOSE: WHY PAPER BAG DAY MATTERS MORE THAN EVERadvertisementWhat makes this year's Paper Bag Day particularly notable is the level of accountability brands are now assuming—not only for what goes inside the bottle, but what wraps around beauty industry has long struggled with its plastic problem, but paper bag adoption is one of the small, visible steps that's creating ripple effects. According to a 2024 report by the India Retail Forum, over 58% of urban shoppers now prefer paper or cloth bags over plastic—indicating that consumer behaviour is catching up to brand this changing landscape, brands like The Body Shop and Esskay aren't merely ticking ESG boxes—they're actively shaping the future of sustainable question now isn't whether paper bags are enough. It's whether brands are willing to integrate sustainability into every layer of their operations—with authenticity, action, and accountability.- Ends
Mint
24 minutes ago
- Mint
Reliance Jio launches JioPC to offer affordable cloud computing via TV: How it works
Jio Platforms, the digital arm of Reliance Industries, has announced the launch of a new cloud-based virtual desktop service, JioPC, in a move set to redefine personal computing access for millions of Indian households. The service is designed to transform ordinary televisions into fully functioning personal computers through the existing Jio set-top box. Currently being rolled out on a free trial basis and accessible only by invitation, JioPC reflects chairman Mukesh Ambani's wider ambition to bridge the digital divide in a country where desktop and laptop ownership remains limited. You may be interested in JioPC enables users to access a virtual desktop interface on their television screens by simply connecting a keyboard and mouse to the Jio set-top box. The box itself is bundled with Jio's broadband plans or can be purchased separately at ₹ 5,499. While the service does not yet support peripheral hardware such as webcams or printers, it offers core computing functionality via the cloud. Instead of pre-installed Microsoft Office software, users can work with Office tools through the web browser. JioPC also comes with LibreOffice, a free and open-source alternative, already built in for offline productivity. JioPC follows the recent launch of Jio's AX6000 WiFi 6 Universal Router, which aims to bring high-speed, stable internet access to large homes and smart households across India. Introduced in June, the dual-band router is capable of delivering speeds up to 6000Mbps and incorporates advanced technologies such as OFDMA and MU-MIMO to ensure consistent connectivity even during peak usage times.
