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economy: Steel user industries cheer customs duty reduction on long and flat steel products

Mumbai: Steel user industries like auto, construction and engineering goods sector have welcomed the announcements made by the Finance Minister to slash customs duty on steel products to 7.5% from 12.5%, and exempting duty on import of steel scrap.
Reacting to the Budget proposals, Engineering Export Promotion Council (EEPC) India chairman Mahesh Desai said that slashing customs duty uniformly to 7.5 per cent on key iron and steel items , along with customs duty exemption on steel scrap up to March, 2022 is a big positive.
It is a great move for Atmanirbhar Bharat and the MSMEs who had been hit hard for an unprecedented increase in the recent months,” Desai said. ....

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Pandemic, early winter fuels online sale of appliances

Pandemic, early winter fuels online sale of appliances
Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases on account of coronavirus pandemic
Nidhi Singal | December 30, 2020 | Updated 00:07 IST
Pandemic COVID-19 along with the early onset of winters across the country has derived demand for winter appliances such as geysers, water heaters, immersion rods, and room heaters. Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases.
Hari G Kumar, Vice-President - Large Appliances at Flipkart, says, We are witnessing over 50 per cent increase in searches for winter appliances in the first 20 days of December 2020 over the same period last year with room heaters accounting for over a third of this demand. Interestingly, over 50 per cent of this demand came from Tier-III and beyond cities while cities suc ....

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