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Importantly, 33 life-saving drugs, including critical cancer medications, have been moved to the nil rate. The DGTR has recommended a safeguard duty on certain flat steel imports for three years to protect domestic manufacturers from a surge in inbound shipments. This decision follows a probe initiated by the Indian Steel Association, citing a significant increase in imports causing injury to the domestic industry.

Zydus Lifesciences shares in focus on licensing deal with Synthon for generic ZEPOSIA in US market

Mukand Sumi Special Steel will invest Rupees 2,345 crore for a new project in Kanakpura, Karnataka. This venture aims to boost the company’s production to 7,00,000 tonnes annually. The facility will manufacture high-grade steel for various sectors like automotive and railways. Additionally, Nippon Steel is transferring proprietary technology, including hydrogen-based steelmaking, to reduce U.S. Steel’s carbon footprint by 30% by 2030, with updated capacity targets raising domestic crude steel output from 17 to 20 million tons annually. A detailed investment strategy and timelines are expected later in 2025 as part of Nippon Steel’s public medium-term business plan update.

Patanjali Foods CEO Sanjeev Asthana said the company will fully pass on the benefits of GST rate cuts to consumers. He noted the move would boost FMCG penetration across urban and rural India, spurring wider consumption. Categories such as ghee, soaps, biscuits, noodles, honey and chyawanprash will see price relief.

September 2, 2025 Refractories Reused: A Step Toward Sustainability

• Nippon Steel is embarking on a specific, $11 billion modernization and expansion plan for U.S.
• Congress leader Pawan Khera on Thursday attacked the Centre over its “delayed” GST reforms, claiming the government finally acted on Rahul Gandhi’s long-standing advice after eight years.
• She added that the reforms would enhance operational efficiency while expanding the size of India’s formal economy.
• However, sin and luxury goods such as pan masala, cigarettes, luxury cars and private yachts will continue to attract the steep 40 per cent GST rate.

Apollo Healthco, she said, is committed to driving prevention-focused healthcare for a stronger Vikshit Bharat. “The rationalisation of GST for frozen foods and meats is a progressive move that will uplift the entire category. It makes khelo24 login nutritious and hygienic options like Godrej Yummiez more accessible, while promoting smarter food habits and reducing wastage,” he noted. He added that the reforms would encourage innovation, expand distribution, and strengthen consumer trust in frozen food as a mainstream choice. Items that were previously taxed at 28 per cent, including small cars, motorcycles under 350cc, tractors, cement and auto parts, will now fall under the 18 per cent slab.

Consumer appliances industry upbeat about GST reduction on air conditioners, TVs, dishwashers

Major companies like Tata Consultancy Services and Infosys are providing AI tools to their employees. This shift is boosting productivity and changing software development. The rise of AI coding assistants may impact entry-level programming jobs. TCS has rolled out delayed salary hikes of 4.5–7% for junior to mid-level staff, effective from September 1, 2025, with top performers getting over 10%. It is understood to be the lowest hike in the last four years given the slowing business environment’s impact on the IT industry and TCS financials.

Popular food products such as namkeens, pasta, instant noodles, coffee, butter and ghee have also been placed under the 5 per cent slab. The agriculture and renewable energy sectors have received relief, with bio-pesticides, solar heaters and windmills also moved to the lower rate. A three-year safeguard duty on steel imports, initiated by DGTR due to increased imports and declining domestic profits, faces strong opposition. GTRI’s report suggests this duty could negatively impact auto, engineering, and construction sectors by raising input costs. Stakeholders argue that the duty will harm export competitiveness and create sourcing challenges, despite domestic steelmakers’ profitability.

Discussions centered on increasing production and exports, streamlining costs, and maximizing capacity utilization. The collaborative effort aims to foster a competitive, resilient, and sustainable ecosystem for the iron and steel industry through government-industry coordination. Ray added that the reforms would make life-saving drugs, advanced treatments, and preventive care more accessible to a wider population. He expressed optimism that such policy changes will accelerate India’s path toward equitable and sustainable healthcare. Shobana Kamineni, Executive Chairperson of Apollo Healthco, hailed the government’s GST reforms as transformative for healthcare access. Calling the exemption of health and life insurance from GST a “masterstroke,” she said it turns protection into a right rather than a privilege.