India registered a growth of 3.5% in crude steel production at 9.245 million tonne (MT) in November, according to World Steel Association. The country had produced 8.933 MT crude steel during the same month last year.
State-owned Coal India Ltd (CIL) is set to diversify into non-coal mining areas as well as make major investments in clean technology in 2021 after demand for the dry fuel remained muted for most of this year amid the coronavirus pandemic impacting economic activities.
India Ratings and Research (Ind-Ra) revised its expectation for India’s FY21 gross domestic product (GDP) growth to negative 7.8% from negative 11.8% due to easing of Covid-19 headwinds and better-than-expected 2Q FY21 GDP numbers.
India will implement a Coal Import Monitoring System (CIMS) from February 1 that would require coal importers to submit advance information in an online system for import and obtain an automatic registration number.
The government inked a $500 million loan pact with the World Bank (WB) to develop safe and green national highway corridors in the states of Rajasthan, Andhra Pradesh, Himachal Pradesh and Uttar Pradesh.