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GST Council introduces Reverse Charge Mechanism on metal scraps

Typically the seller charges the buyer for GST, but under the newly introduced RCM provision, the buyer will be responsible for paying the tax directly to the government. Read more

Shyam Metalics shares rise 3% post expansion announcement in steel and aluminium

Shyam Metalics operates a unique business model in the metals industry, sourcing around 80% of its power from captive plants.Read more

Manufacturing tech startup Fabrication Bazar raises $3 million funding

The profitable start-up Fabrication Bazar (Ben & Gaws), which has built a network of nearly 330+ verified vendors across India and Vietnam, will use the funds to further enhance the tech platform, increasing geographic presence primarily in GCC and SEA regions, and team expansion.Read more

SKH collaborates with Magna International for automotive innovations

This alliance is set to enhance product offerings, broaden market reach, and push technological boundaries in the automotive industry.Read more

IIT Madras receives biggest donation of Rs 2.28 billion from Krishna Chivukula

In recognition of his generosity, IIT Madras has named a new academic block the Krishna Chivukula Block. Read more

Metalogic PMS holds conference on steel & metals for India's defence sector

The country's defence sector has shown impressive progress, with annual domestic defence production reaching nearly Rs 1.27 trillion in FY24, a 16.7% rise from Rs 1.09 trillion in the previous fiscal year. Read more

Dormer Pramet appoints Shib Banerjee as global head of sustainability

In this new role, Banerjee will collaborate with cross-functional teams to implement sustainable practices and QEHS initiatives into business operations, products, and services to inspire the business towards a more sustainable and responsible future. Read more

Indian manufacturing sector sentiments improved for Q1 24-25: FICCI

The survey reveals that 78% of respondents anticipate higher or stable production levels, up from 57% in the previous year.Read more

Imperial Auto Industries Ltd buys German metal manufacturer Biebighäuser

Biebighäuser manufactures and supplies components to the largest European OEMs including Volkswagen, BMW and Mercedes. Read more

TFS launches ‘Make in India’ air quality monitoring system analysers

Designed to provide accurate data on air pollutants and gases, the AQMS analysers play a crucial role in monitoring and regulating industrial emissions, contributing to the government’s efforts in curbing air pollution.Read more

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