Srma Steel News: Steel Re-Rolling Mills Association of India

SRMA
Steel Re Rolling Mills
SRMA STEEL NEWS Association of India

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Steel Re-Rolling Mills Association of India

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Sl. No, Name
Shri B.M. Beriwala,

1.
Chairman
Shri Jagmel Singh Matharoo,

2.
Vice Chairman
Shri Ramesh Kumar Jain,

3.
Treasurer
4. Shri Sanjay Jain
5. Shri Kailasj Goel
6. Shri G P Agarwal
7. Shri S K Sharda
8. Shri Sandip Kumar Agarwal
9. Shri S. S. Sanganeria
10. Shri Sanjay Surekha
11. Shri R P Agarwal
12. Shri S. S. Bagaria

13.
Shri Girish Agarwal
14.
Shri Goutam Khanna
15.
Shri Suresh Bansal
16.
Shri Rajiv Jajodia
17.
Shri Bhusan Agarwal
18.
Shri Mahesh Agarwal
19.
Shri Sita Ram Gupta
20.
Shri Ashok Bardeja
Page 1 of 20 11th Issue Steel Re Rolling Mills Association of India visit www.srma.co.in
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CONTENTS
 Executive Summary
 Concept Of Direct Rolling In Steel Re-Rolling
 Policy taken by Ministry of Steel to increase the demand of Steel
 Environment and Safety
 Labour & Legal News
 Taxation News
 Government launches Rs. 500 Crore India Inclusive Innovation Fund to
connect the financial gap of MSME sector
 Event & Latest Steel News
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Demand continued to remain silent during April-June 2013; exports obtain momentum on the back of increased
production by main steel producers: Sluggishness in key end-user industries continued during the period April-June
2013, leading to the domestic steel consumption growing 0.2% over the corresponding period of the previous fiscal
year. India's steel demand are expected to go up by 3 to 5% in the next financial year on higher economic growth
although margin pressure would continue due to high production costs and limited scope to pass them on to
customers. Better GDP growth of 5.6% in FY'15 on the back of a revival in industry growth would lead to better
steel demand growth next fiscal. It would be in the range of 3 to 5% but not above 5%. No major hike in prices
next fiscal due to overcapacity in the domestic steel industry which will continue to limit prices amid the demand
increase.
India’s current installed steel capacity is around 95 million tonne and 13-15 million tonne is expected to be added
within FY 2015. It may be noted that margins of steel producers would continue to be under pressure, given the
high cost of production and their limited ability to pass on hikes in costs. The availability of iron ore should
improve, limiting hike in costs. Coking coal prices will also range between USD 160 to 175 a tonne. Steel imports
have slid into a negative territory in the period April-June 2013 (-34.1%), continuing with the trend witnessed in the
second half of the previous year. Overall growth in steel imports in FY13 stood at 14.6%, sharply down from a
growth rate of around 38% posted in the first five months of FY13, implying a moderation during the second half
due to a reduced differential between domestic and imported steel prices.
According to World Steel Association, the leading global industry body, the rate of growth in demand for the last
calendar year was just 2.5 per cent. The 3.3 per cent growth in consumption was the slowest in last three years,
according to figures revealed by Joint Plant Committee, a body under the Steel Ministry. It grew by 5.5 per cent in
2011-12 and 9.9 per cent in 2010-11. World Steel Association, the leading industry body, has forecast that India's
steel demand will grow by 5.9 per cent to 75.8 million tonnes in 2013. "In India, steel demand is expected to pick up
and will grow by 5.9 percent to 75.8 million tonnes in 2013 following 2.5 percent growth in 2012 as monetary
easing is expected to support investment activities,".
The Indian Economy is sandwiched between global economic woes and laggard policy framework in the country.
From an average 8-9 per cent in the recent past, domestic GDP growth has slipped to 5-6 in the past couple of
years. Accordingly, with the slow-down across steel end-use industries, especially industrial and infrastructure
construction, steel demand growth has plunged from around 9 per cent for the last 10 years to a mere 4-5 per cent
for the last couple of years. With further weakness in the GDP outlook at 4.8 per cent, steel demand is expected to
post an even lower growth rate of 2-4 per cent in 2013-14. The slide in demand is largely contributed by execution
delays in construction projects and lower demand for automobiles and consumer durables.
The decline in import also represents a weak demand and a higher base effect. On the other hand, steel exports have
risen by 12.7% % in the period April-June 2013. This was largely necessitated by an inventory build-up by major
steel producers, who reported a higher production growth relative to the growth in demand. A depreciating rupee
and export incentives have also aided steel exports, despite the declining trend in international steel prices in the
above period. With a capacity of about 15 million tonnes (mt), which is equal to almost 16% of the current domestic
capacity, being estimated to come up in FY14 as per the Working Group of Ministry of Steel.
Global growth projections are inspiring now as the World Bank is projecting encouraging growth of the global
economy. The Global GDP growth is expected to increase from 2.4% in 2013 to 3.2% in 2014, stabilizing at 3.4%
in 2015 and 3.5% in 2016. For high income countries the economic growth is expected to increase from 1.3% in
2013 to 2.2% in 2014, stabilizing at 2.4% for 20 15 and 2016. Growth in developing economies is expected to rise
above 5% in 2014 while India is expected to grow at 6.2% during 2014-15. Recently, our Hon’ble Prime Minister
has also said that the economy will end this year (2013-14) at the same level as last year with 5% growth.
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The Induction Furnaces melt Scrap and Sponge Iron and produce Ingot through
Ingot Molding and some have the continuous Billet Casters also. The cast Ingots or
Billets are cooled and sent for rolling in the Rolling Mill. The cooled ingots or
Billets are then reheated by placing them into Billet Reheating Furnace which
operates on fossil fuel like: “furnace oil or coal”; after the Billet or Ingot is heated
up to 1200 degree Celsius, then these are discharged and taken for rolling. This
process consumes a lot of fuel in reheating furnace and causes burning loss of
around 1.5 -3.5% depending on the type of fuel used. heating of billet/ingot is not
very uniform. The production in Rolling Mill also gets affected many times due to
limitation of the manpower handling and Billet Reheating system because in top fired pusher furnace, heating is only from the
top surface of the material. However, the re-rolling sector has been operating quite well under the above limitations. It is also
important to note that burning of fossil fuel causes generation of CO2 and a large quantity of the same is exhausted through
Chimney in addition to other pollutants causing several environmental problems and Global Warming. It is well known that
Technology Development is a dynamic phenomena and in this case the constant search by Indian Entrepreneur has given birth to
a Revolutionary Technology of Direct Rolling in a SRRM sector. Although, the Technology is in practice in a few steel mills
abroad but they are the most modern mega steel plants. In a SME sector, this is indeed a great achievement in the world.
ADVANTAGES OF DIRECT ROLLING PRACTICES
 Depending upon the facilities such as capacity, number of induction furnace (IF), mill equipment etc., it would be
possible to achieve 75-80% direct rolling. Thus, huge saving of furnace oil and coal required for heating of the
billet/ingot which will result into enormous saving in Fuel energy and thereby reduce the Green House Gas (GHG)
emission.
 Reduction in the scale loss to the extent of 1.5 to 3.5%, which would have been burned in the billet reheating furnace.
 Savings due to avoidance of runners risers etc., improving the yield about 4-5%.
 Savings in the cost of Ingot moulds, refractory, etc.
 It will improve the productivity of the mill and also that of the manpower engaged in the Plant.
 It would also result in some saving in power consumption because of the indirect savings of Burning loss and improved
liquid metal to finished steel etc.
 It will also help in reducing the manpower required in any unit and also reduce the risks of lower production caused
due to the manpower engaged in vital function of mould settings; ingots finishing and loading in the billet reheating
furnace etc.
 It will reduce miss roll, cobbles, etc and improve the product quality, increase % yield etc.
FACILITIES
In order to achieve smooth operation, the following facilities are required to be installed in the CCM section of any Induction
Furnace and rolling mill complex:
 A suitable radius of Concast machine (CCM) with preferably double strand facility. However the single strand can also
be set up or three or more strands can also be set up. But the present sizes available in SME units, it is proposed to
use single strand with a backup availability of second strand for being put into use as per the requirement.
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 A suitable radius mould tube having indirect cooling through DM water

followed with a secondary cooling facility having direct spray cooling through
controlled spray of water, controlled by programmable logic controller. By
varying the flow rate of spray water during the secondary cooling. It is also
desired to have a control on the flow of cooling water for the Mould Tube
Cooling too; so that the controlled cooling can be achieved.
 A suitable radius at secondary portion of the CCM is provided up to the

withdrawal and withdrawal is provided also with variable speed control through VFD (AFC).
 Subsequent to that in each strand one hot billet shearing machine should preferably be installed to ensure that billet
being cast are cut to the desire length by consuming minimum time and in line with the casting speed without causing
any loss of metal and also without creating any distortion in the end of the billet so that, the ends of the billet do not
cause any adverse impact at the entry of first pass. Although at many locations people prefer to install only the manual
gas torch cutting facility by using acetylene and oxygen or the LPG with Oxygen. But this has several disadvantages
over the on line Hot Shearing Machine.
 Once the Hot cast Billets are cut to size by the Billet Shearing Machine then the conveying speed of the cut billet is
enhanced to ensure fastest travel of Hot cut piece of the billet to the first pass. The layout may requires that the cut
billets to be rolled are shifted at 90 degree angle or may also be possible to convey it straight to reach the rolling mill
conveyor. This will depend on the Mill Layout with respect to the Induction Furnace layout.
 Rolling Mill conveyors may be required to be designed to provide a linear speed of 1.5 mt/sec or even little more to
convey the hot cut billets as fast as possible. The conveyors will be driven by VFD. In case the distance of conveying is
more then it may require that the conveying mechanism is so designed that the heat loss during travel is minimum. This
may require to even provide certain enclosures canopy linked with refractory material and covers over the conveyors.
The temperature profile from the induction furnace up to the first pass of rolling mill stand should be maintained in the
following levels:
 Tapping Temperature at Induction furnace should be maintained between 1660 to 1670 Degree C depending on the
number of factors.
 The ladle designed should be so provided to minimize the loss of heat during transporting the liquid metal up to
CONCAST stand. It is expected that not more than around 3 to 4 minutes should take to transport the ladle.
Temperature drop during pouring will be 40 Deg. C and during transport shifting of ladle to Concast stand will be 10 to
12 Deg. C. Thus enough heat will be available even with the liquid metal during the casting from ladle.
 Subsequently during nitrogen purging another 5 deg. C drop will take place.
 Accordingly the opening temperature of liquid metal while start of pouring in the mould will be about 1590 Deg C. and
is likely to remain above 1550 Deg by the time the pouring/casting is completed.
 The solidification of the liquid metal in the mould will take place due to the indirect primary cooling and thereafter
controlled spray of direct cooling water during the secondary cooling. The PLC controlled water spray system will help
to ensure that the billet is completely solidified at the withdrawal point and also be having a skin temperature of above
1050 to 1100 Deg. C.
 The billet shearing machine should be placed at the closest possible point to so as to avoid any more heat loss during
further conveying.
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 All this protection and minimum time to convey the billet from shearing machine
to the first pass should ensure that the maximum temperature drop is not likely to
be more than 5 to 10 Degree C.
 The insulated cover will also help in protecting the scale losses.
 The CCM is likely to operate 24 hours whereas rolling mill will requires at-least 2
hours of maintenance time. Therefore for accommodating the material casted
during this rolling mill shutdown period; the cast billet should be conveyed to the cooling bed for which a sufficient
length cooling bed should be provided.
 It is important to take into consideration the present melting facilities and re rolling facilities capacity.
PRECAUTIONS
 Once the rolling process is integrated on line with that of Hot cast billet rolling then the entire process must be very
well synchronized and it will require very care full and perfect planning in each every aspects of operation from
beginning till the end such as:
 Proper Selection of raw material for Induction Furnace (IF).
 Complete analysis of the charge and proper material balancing before melting itself to target the proper levels of
carbon, phosphorus and sulfur to be achieved.
 Scheduled predictive/preventive maintenance in time for all the facilities
 Proper selection of the Acidic/Neutral Ramming mass and proper application of the same. Timely relining of the
crucible well in advance and after every defined number of heats.
 Proper and adequate arrangements for proper ramming mass
 Controlling the melting temperature and time to achieve the scheduled sequence.
 Maintenance of the desired temperature profile as planned
 Maintenance of the passes and the mill area equipments in perfect operating conditions.
 Adequate stocks of the spares and emergency backup facility along with the emergency backup power. Proper training
to the manpower from testing, Operation, maintenance to quality and inventory control.
 Reduce the dependence on any manual handling even in the re rolling mill. Hence the Re Rolling mill feeding and
discharge of the rolling objects must be automated.
 Cooling bed must also be made automatic.
 It is to be realized that after the Induction furnaces are synchronized with the re rolling mill through the caster then the
success of the plant depends on the failure free and maintenance free operations. Thus all the equipments and machines
and spares must be carefully procured from very good and reputed makes and manufacturers.
 It is also very important that the design and operations of the plant is given in hand of experienced and expert persons
only.
Source : AIIFA
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Vision, Objectives and Functions
=> Vision > The ministry’s vision for the industry is to transform India
into a global leader in the steel sector, both as a steel producer as well as a
steel consuming nation and to enhance the industry’s international
competitiveness.
=> Mission > 1) Promoting policies, initiatives and incentives for attaining
a national steel production capacity exceeding 100 million tonnes per annum by the year 2015-16.
2) Streamlining the regulatory environment for enabling optimal steel production; particularly regarding mineral
policy and the mine allocation regime, tariff and taxation measures, land allocation and environmental and forest
clearances.
3) Promoting the development of infrastructure required for enhancing national steel production through
coordinated efforts, particularly in sectors like Railways, Roads, Ports, Power and Water supply.
4) Enhancing domestic demand for steel through promotional efforts and by enlarging the retail network of steel
companies.
5) Improving the techno-economic efficiency of operations of steel ministry’s PSUs.
=> Objectives > 1) 1(a) To facilitate the early realisation of steel investment proposals both in the public and
private sector through coordination and consensus building with state governments and agencies of the union
government particularly through the forum of the Inter Ministerial Group (I.M.G.); for attaining the national
objective of total finished steel production exceeding 100 million tonnes by 2015-16. 1(b) To facilitate creation of
appurtenant infrastructure required for steel capacity addition and to pursue clearance required by the public and
private sectors in areas like mineral allocation, land allocation and environmental & forest clearances.
2) To oversee the completion of the capex and modernisation programmes of the PSUs particularly SAIL, RINL
and NMDC.
3) Ensuring adequate availability of raw materials for steel industry from domestic and overseas sources,
particularly iron ore and coal by PSUs under the steel ministry.
4) To facilitate and monitor mergers, acquisitions and Joint Ventures by the steel ministry PSUs.
5) To pursue with the Ministry of Finance and the Ministry of Commerce for the adoption of fiscal and tariff
measures for ensuring the sustainability and future prospects of the Indian steel industry.
6) Promotion of Steel usage through cost effective steel products, dissemination of knowledge and ensuring higher
steel availability in rural areas
7) Promotion of Research and Development in steel sector.
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8) To improve the commercial and technical efficiency of operations of all
PSUs.
9) To encourage implementation of Quality control standards in manufacture of
steel and steel based products
Current performance
Indian steel demand is today driven mostly by domestic requirements and since
2006-07 India has been a net importer of steel. The various economic and fiscal
measures initiated by the government combined with a robust economic and
financial market trends has resulted in sustained demand from major consumers
like construction, real estate, housing sectors and industries requiring
specialised steel applications like auto and electrical components sectors.
During 2009-10, the total net production of finished steel was 59.69 millon tonnes as against 57.16 millon tonnes in
2008-09 i.e. a growth of 4.4 per cent. The total net consumption of finished steel during the year was 56.47 millon
tonnes as against 52.32 millon tonnes in 2008-09 i.e. the rise of 7.7 per cent. As for external trade during the year,
imports of finished steel increased by 24.8 percent to touch 7.29 million tonnes from 5.84 millon tonnes in 2008-09
but exports showed a decline of 28.8 percent i.e. 3.23 millon tonnes from 4.44 million tonnes in 2008-09
External factors affecting the sector

Political - Steel usage ranges from the ordinary i.e. household items /tools etc. to the massive and complex ones i.e.
bridges, communication towers, machinery, railways and defence equipments etc. It is an industry charachterised by
large scale investments in land, equipment and technology, long gestation periods but at the same time also
relatively huge margins /profits on account of the value, durability and varied usage of the final product cutting
across sectors. Despite this they are also heavily dependent on political intervention and consensus building to
access the basic raw material and infrastructure support linkages necessary for day to day operations. Other policies
decided at a political level like that of resettlement and rehabilitation of population in and around the plants / mines
set up as well as on environmental sustainability etc. are also of crucial relevance to the industry.
Economic - Despite many inherent advantages like availability of quality iron ore, low wages and availability of
highly skilled personnel etc. Indian steel industry continues to be restricted by its low labour productivity, high
energy consumption levels, heavy dependence on imported technology including for maintenance operations etc.
Steel manufacturing across the world has become a very competitive business and in such an environment the only
way to move ahead of one’s rivals would be by achieving operational efficiency through adoption of cost cutting
options, diversification, right product mix, increased investment in innovation centric research and development
effort and personal training
Technological - Steel making is a highly capital and technology intensive sector. Therefore sustained and consistent
improvements in parameters of technical efficiency has become vital specially in areas where the industry is
lagging behind. Such problems are mainly related to obsolescence of technology adopted and lack of timely
modernisation / renovation, quality of raw material and other inputs, inefficient shop floor practices, lack of
automation and R&D intervention
Environmental - Environment protection in iron ore & steel plants is essentially linked to the technology adopted
for iron & steel making starting from raw material to finished steel stage and finally to the efficient disposal/re-use
of generated bye-products and waste. Therefore, effective management of environment calls for an integrated
approach covering the production process as also the environment surrounding the plant.
Legal - A number existing legal / statutory regulations and government policy guidelines are of crucial relevance to
the industry. Some of the crucial ones amongst these include those linked to allocation of mining leases,
environmental and forest clearances, quality control and the Policy on resettlement and rehabilitation etc.
Source : Ministry of Steel
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To provide greater focus on Research and Development (R&D) for developing

indigenous technologies specially for finding solutions for optimum
utilization of indigenous resources and mitigating the concerns
ndigenous resources and mitigating the concerns of environment and climate
change.
To encourage production and consumption of value added steel by providing

necessary focus on availability
and product development especially for (a) meeting the special requirement of
rural India, b) meeting the special requirement of auto , power.
construction and shipping sectors c) producing lighter but stronger steels which
help in achieving higher energy efficiency in end applications and also help in mitigating the concerns on
environment, climate change and human health.
To ensure sustainable development of the industry with minimum possible displacement of local people and
loos of their livelihoods and minimum damage to the environment by adopting best practices in the production
processes and ensuring adoption of people and environment friendly practices by the investors.
Promotion of steel consumption is to be undertaken primarily by the steel producers. However,

government will encourage steel consumption, supporting R&D projects such as for product design and generic
campaign in specific areas which help in addressing concerns related to environment, climate, human health,
housing for the masses and higher rural penetration for inclusive, growth. Advantages of steel use in terms of
sustainability, durability, amenable design and life cycle costing compared to alternate materials like plastics and
wood will be made more visible and adequately propagated through sustained programmes of awareness. Some of
the application areas which may qulify for the special treatment are as follows :
a) In specific applications where steel can substitute a competing product on the promise of greater environmental
safeguads.
b) Promotion of stainless steel in infrastructure such as bridges, ports etc. in the coastal areas which are prone to
severe and extreme corrosion.
c) Promotion of stainless steel in railway coaches for longer life and passenger sagety.
d) Application of high strength steel and support to R&D for their use in automotive and appliance industries.
e) Promotion of application research involving tubular frames and other pre-fabricated products for use in
energy efficient high rise structures aimed at bringing in affordable housing to accommodate India’s growing
urban population.
f)The government will encourage use of steel in areas where it has the potential to mitigate the risks associated with
natural calamities such as earthquakes
g) In promoting and providing safe packaging, in particular for food products, to replace competing toxic packaging
materials and discouraging use of seconds and defective steel materials.
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By 2025, it is estimated that 70 per cent of Indians will be of working age.

This ‘demographic dividend’ could give India an edge over the developed
countries where a larger segment of the population would by then be past
retirement. However, this demographic dividend can easily turn into a
demographic disaster if a majority of the working age population remains
unemployable due to a lack of skills. Even today, one hears of a shortage of
skilled workers across industries, which does not augur well for sustaining
India’s economic growth. For instance, the construction industry lacks
sufficient plumbers and construction machine operators, resulting in a slowing
of construction activity and increasing the overall cost of projects, posing a
major challenge to India’s infrastructure development plans (Heikkila 2012).
In the light of this situation, skill development has gained an impetus in India’s policy-making circles headquartered
in New Delhi. The central government’s concern with this shortage of skilled workers is best described in the words
of the Indian Prime Minister, Manmohan Singh, ‘As our economy booms and as our industry grows, I hear a
pressing complaint about an imminent shortage of skilled employees. As a country endowed with huge human
resources, we cannot let this be a constraint’ (Government of India 2011a). Towards this end, the government of
India has set for itself a task of creating a skilled workforce of 500 million by 2022. A National Skill Development
Council has been created under the Prime Minister’s auspices. Of the 500 million, over two-thirds of the target has
to be met by existing vocational training initiatives offered by 17 central government ministries. For the remaining
one-third, a private-public partnership based National Skill Development Corporation (NSDC) has been set up.
Given the policy focus and ambitious targets for scaling up vocational training and skill development efforts, it is
important to first explain why a shortage of labour still exists despite ongoing initiatives to improve training.
This paper highlights that vocational training offered in India is mismatched with the needs of casual workers who constitute
over 90 per cent of the labour force, resulting in a shortage of skilled workers at the national level. Casual workers, such as
construction workers, often comprise migrant workers from rural areas with poor education, no formal training and who are in
‘dire’ need of occupational up-scaling.
First, there are high barriers to entry under the current vocational training set-up. For example, the existing structure requires
secondary education (class VIII) as a prerequisite for enrolling into vocational training schemes. This restricts a significant
proportion of illiterate or less educated workers from even entering into the formal training system. In contrast, the Chinese
vocational education and training (VET) system, which is similar to India’s, targets a larger population as the average education
level of its working age population is higher.2 The Chinese government also has specific initiatives at the local government
level to train unskilled and uneducated migrant labour for sectors like construction, while such initiatives are missing in India.
Second, the federal structure of the Indian government results in a lack of coordinated action between national and state
governments, which shows in mismatched prioritisation at the policy-making and implementation levels. For
instance, the central government’s findings estimate that the construction sector will create over six times more jobs than the
Information Technology (IT) and related services sectors by 2022 (FICCI 2010:11). However, the state growth plan for two
major states, Uttar Pradesh (UP) and Maharashtra, which drive construction growth, shows state government initiatives for the
IT sector and none for construction. This mismatch between India’s policies at the national level and ‘on-the-ground’
implementation by the states nullifies the policy focus in the informal sector, further compounding the perpetual shortage of
skilled workers.
The paper is divided into three main sections. The first section details the current structure of India’s existing vocational training
system, government focus and recent policy decisions. This is followed by a literature review of some common arguments made
to explain India’s skills deficit and concludes why none of these address the lack of training for casual workers. The second
section examines construction-specific vocational training initiatives across two Indian states, UP and Maharashtra, to illustrate
the lack of avenues for training for casual workers in India. The construction sector employs 83 per cent casual workers and
hence, is similar to the Indian workforce demographic. It also represents a large majority of the workforce.
Source : Ministry of Labour
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Legal News
Companies law set to mandate 2% CSR spend
NEW DELHI: India Inc should brace to set aside a specified

portion of its profit on corporate social responsibility (CSR). The
ministry of company affairs (MCA), which is finalizing the new
Companies Bill, has accepted a Parliamentary Standing
Committee’s recommendation on the issue. The standing
committee on finance headed by former finance minister Yashwant
Sinha has proposed that companies with a turnover of Rs 1,000
crore or net profit of Rs 5 crore or more earmark 2% of their net profit for the preceding three years on CSR.
Though corporates and industry chambers had lobbied hard against the move, the government has decided to go
ahead with the proposal. It is, however, unclear what really constitutes spending on CSR. The standing committee
had said that companies would decide the policy and the spending. While mandating CSR spend, the government
had decided against policing and will leave it to companies to implement what is being prescribed in the law. In case
a company fails to meet the prescribed spend, it will have to spell out the reasons for the shortfall to its shareholders.
The CSR spending proposed to be mandated in the new Companies Act would be in addition to what is being
prescribed for companies in the mining or the coal sector. For instance, in case of Posco, the environment ministry
has asked the Korean company to spend 2% of its annual profit on CSR.
The coal ministry is also toying with the idea of mandating a CSR levy on miners who dig for the mineral in the so-
called No-Go areas that are environmentally sensitive.
The proposal for mandating a CSR spend was first discussed by the corporate affairs ministry
around two years ago but it had to be turned into a voluntary exercise in the wake of protests
from companies. But armed with a recommendation from parliamentarians, the ministry is now
set to implement its plan.
The revised Companies Bill will be placed in Parliament during the Budget session that starts later this month. The
bill has been sent to law ministry for vetting, corporate affairs minister Murli Deora said. Corporate India has,
however, got one last chance to present its case when the ministry meets industry representatives next week.
(Times of India)
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TAXATION NEWS
Service Tax
No TDS on Service Tax if shown separately
Pursuant to an important judgement of the Hon’ble Rajasthan High Court, in the case of Commissioner of Income Tax (TDS),
Jaipur Vs. M/s. Rajasthan Urban Infrastructure [2013 (8) TMI 12 – RAJASTHAN HIGH
COURT] holding that if as per the terms of the agreement between the payer and the pay ee, the amount of service tax is to be
paid separately and was not included in the fees for professional services or technical services, no TDS is required to be made on
the service tax component u/s 194J of the Income Tax Act, 1961 ( “the Act” ).
Earlier, vide Circular No. 4/2008 dated 28-04-2008 it was clarified that tax is to be de ducted at source under Section 194-I of
the Act, on the amount of rent paid/payable without including the service tax component. Representations/letters has been filed
to CBDT seeking clarification whether such principle can be extended to other provisions of the Act also
CBDT has examined the matter afresh and clarified vide Circular No. 1/2014 dated 13-1-2014 -“TDS under Chapter XVII-B of
the Income-tax Act, 1961 on service tax component comprised of payments made to residents” that wherever in terms of the
agreement/contract between the payer and the payee, the service tax component comprised in the amount payable to a resident is
indicated separately, tax shall be deduct ed at source under Chapter XVII-B of the Act on the amount paid/ payable without
including such service tax component
CENTRAL EXCISE NOTIFICATION

th
No. 02/2014-CX., (N.T.), Dated 20 January, 2014
[F.No.332/09/2013-TRU]
In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the
Finance Act, 1994 (32 of 1994) , the Central Government hereby makes the following rules further to amend the
CENVAT Credit Rules, 2004, namely:-
1. (1) These rules may be called the CENVAT Credit (Second Amendment) Rules, 2014.
(2) They shall come into force on the date of their publication in the Official Gazette
2. In rule 12 of the CENVAT Credit Rules, 2004, after the brackets, letters, figure s and words, “[GSR 307(E), dated
th
the 25 April, 2007]” the words, figures, letters and brackets, “or No.1/2010-Central Excise, dated the 6th February,
2010 [G.S.R. 62(E), dated the 6th February, 2010]” shall be inserted.
Sd/-
(Raj Kumar Digvijay)
Under Secretary to the Government of India
CUSTOMS NOTIFICATION
No. 07/2014-Customs (N.T), Dated 28tth January, 2014
[F.No.554/02/2007-LC]
G.S.R. 66(E).-In exercise of the powers conferred by section 11 of the Customs Act, 1962 (52 of 1962) the Central
Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following
amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue,
No.152/84-Customs, dated the 15th May, 1984, published in the Gazette of India, Extraordinary Part II, Section 3,
Sub-Section (i), vide number G.S.R.379(E) dated the 15 th May, 1984 namely:-
In the said notification, the following proviso shall be inserted, namely:-
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“Provided that the prohibition shall not apply to import of machinery and equipment, which were exported to
Bhutan from countries other than India through an Indian place of entry, for use in execution of projects in Bhutan,
subject to the conditions that-
i. The importer produces before the Assistant Commissioner of Customs or Deputy Commissioner of Customs the
‘Letter of Guarantee’ or the ‘Bill of Import’ and the other documents based on which the said goods were
originally allowed transit clearance from the Indian place of entry to Bhutan, and
ii. The Assistant Commissioner of Customs or Deputy Commissioner of Customs is satisfied regarding the identity
of the goods
Sd/-
(M. Satish Kumar Reddy)
Director (ICD
Withholding tax on installation charges: Deloitte
Recently, the Pune tribunal has held that installation/erection and related service charges formed an integral part of
the purchase price of machinery and the situation would remain unaffected, whether the charges were embedded in
the cost of purchase price or, were charged separately. Thus, there was no obligation on the payer to withhold tax on
entire payment.
The case was like this. During 2007-08, Mahindra Forgings Ltd (tax payer), which makes forgings for the automotive
industry, bought forge and similar machines from various parties outside India for setting up a forging industry in
Pune.
The assessing officer (AO) held that these payments (other than payments for purchase of machinery) were taxable as
fees for technical services (FTS) under the Income-tax Act, 1961 (ITA) and also under Article 12 of the India’s tax
treaties with the respective countries, and considered the tax payer as an ‘assessee-in-default’ for not deducting tax at
source.
On appeals by the tax payer, the commissioner of income-tax (appeals) [CIT(A)] confirmed the AO’s view in respect of
payments made to Russian, German and Czech Republic companies on the basis that there were separate agreements
(i.e. purchase orders) for purchase of machinery and separate for installation/ erection and related service charges.
However, CIT (A) did not agree with the position taken by the AO in respect of payment made to A Japanese company
(to which no separate PO was issued) for supply of designs and drawings on the basis that the transaction was a
purchase transaction as no technology know-how relating to the machinery was made available.
The tax payer and the AO filed appeals before the Pune tribunal. The key issue before the tribunal was, whether the
tax payer was required to withhold tax on payment towards installation/erection and related service charges and on
supply of designs and drawings. The tribunal held that:
The supervision of installation /erection of machinery was an activity which related to sale of machinery and the
installation charges formed an integral part
http://www.financialexpress.com/news/withholding-tax-on-installation-charges-deloitte/1236325
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Government launches Rs. 500 crore India Inclusive Innovation Fund to connect the
financial gap of MSME sector
The National Innovation Council (NInC) and the Ministry of Micro, Small and Medium Enterprises (MSME) has
jointly announced the creation of the India Inclusive Innovation Fund (IIIF). The India Inclusive Innovation Fund
has been approved by the Union Cabinet with a view to combine innovation and the dynamism of enterprise to solve
the problems of citizens at the base of the economic pyramid in India.
The fund will be registered under SEBI’s Alternative Investment Fund Category I guidelines with an initial corpus
of Rs. 500 crores , with the Ministry of MSME committing to 20% (Rs 100 crores) and the balance will be given by
banks, insurance companies, overseas financial and development institutions. The fund will endeavour to provide
modest financial returns ensuring significant social impact to the community.
Te fund’s eventual aim is to expand the corpus to Rs. 5,000 crores over the next 24 months. The IIIF seeks to
create a new class of capital which helps in setting up and upgrading entrepreneurial skills and innovation which is
the need of the economy. The fund will invest in innovative, scalable and sustainable ventures and address social
needs of less privileged citizens in areas such as healthcare, food, nutrition, agriculture, education / skill
development, energy, financial inclusion, water, sanitation, employment generation, etc.
The Fund will invest in innovative ventures that are scalable, sustainable and therefore profitable but address social
needs of less privileged citizens in areas such as healthcare, food, nutrition, agriculture, education and many others.
“The needs of the people at the base of the economic pyramid are today served by philanthropy and government
grants or subsidies which can never be either adequate or scalable. IIIF seeks to leverage the model of Venture
Capital funds to transform the lives of the less privileged,” said Sam Pitroda, Chairman of NinC and Advisor to the
Prime Minister on Public Information, Infrastructure and Innovation.
IIIF seeks to address the existing capital gap and therefore initially, at least 50% of its investments will be to
enterprises that fall in the MSME stage. The IIIF will also partner the entire ecosystem in this space, including
incubators, angel groups, and also public R&D programmes and laboratories to support the commercialization and
deployment of socially relevant innovative technologies and solutions.
The day to day operations of the fund will be entrusted to an Asset Management Company (AMC) which will be set
up as a Section 25 not for profit company. The underline philosophy of the programme is to bring various
stakeholders together not only for financing the enterprises but also providing handholding support in different
manner through technical inputs to connect with the markets. A number of initiatives will be brought on board and
will have a bearing in future on this programme.
The IIIF will also partner with the entire ecosystem, including incubators, angel groups and public R&D programs
and laboratories to support the commercialization and deployment of socially relevant innovative technologies and
solutions. Lack of capital is one of the major reasons why ventures and entrepreneurs seeking to address the needs
at the base of the economic pyramid have failed to take off, the release stated. IIIF seeks to address this gap and
therefore at least 50 percent of its investments initially will be towards enterprises that fall in the MSME category.
IIIF, which has been approved by the Union Cabinet, was conceived by the NInC as a concept which seeks to combine
innovation and the dynamism of enterprise to solve the problems of citizens at the base of the economic pyramid in India. The
Government will not be involved in the day to day operations of the Fund, which will be entrusted to an Asset Management
Company (AMC), set up as a Section 25 not for profit company. The AMC will appoint a professional management team for this
purpose as also an Investment Committee comprising professionals of repute, which will take all investment and divestment
decisions. The AMC will also build a mentoring network, enable incubation and provide training and skills development
programs to entrepreneurs and IIIF assisted companies.
Source : http://entrepreneurindia.in/thebuzz/specialreport/government-to-launch-rs-500-crore-india-inclusive-innovation-fund/23595/
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Minerals, Metals, Metallurgy & Materials (MMMM) 2014
4-7, September 2014

Pragati Maidan
New Delhi
For Booking & Enquiries
International Trade and Exhibitions India Pvt. Ltd.
1106-1107, Kailash Building, 26 K.G. Marg, New Delhi- 110001, India
Tel: +91 11 40828282
Gagan Sahni: +919810036183
Varun Sharma:+91 11 40828208
Smita Roy: +91 11 40828217
Sandeep Arora: +91 11 40828227
Metal + Metallurgy China 2014

Organiser: China Iron and Steel Association China Foundry
Association Chinese Mechanical Engineering Society Me
Venue: China International Exhibition Center, Beijing.
Web Site: www.mm-china.com
----------------------------------------------------------------------------------------------------------------------------- ---------------
15th Asian Ferro-alloys Conference

01 April 2014 - 03 April 2014 - Conrad Hotel, Hong Kong, Hong Kong
Metal Bulletin Events' 15th Asian Ferro-alloys Conference will still take place in Hong Kong. With over 600
delegates expected, the flagship Asian event is not only the most important forum to discuss the challenges and
opportunities facing the regional and global markets, but an excellent platform to reconnect with trading partners,
forge new business relationships and be updated on the latest industry information and trends.
------------------------------------------------------------------------------------------------------------------
Metal & Steel Saudi Arabia 2014
Organiser: Arabian German Exhibitions Co Ltd

Venue: Riyadh International Exhibition Centre, Riyadh, Saudi
Arabia
Website:www.metalsteelsaudi.com
Link:http://www.metalsteelsaudi.com
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STEEL NEWS
Indian steel prices to remain stable in April

Falling international steel prices, drop in domestic iron ore prices and recent appreciation in rupee that made imports
attractive may force steelmakers to either cut steel prices or keep prices unchanged in April.
Steel manufacturers and distributors confirmed that after three consecutive price hikes since January, steel prices are
unlikely to rise in April.
A spokesperson from Essar Steel said that "The input cost continues to remain firm. The price levels in India are in
line with global prices and in some cases lower than import parity prices. The demand is stable. Hence the prices will
continue to remain at present levels."
Mr RK Goyal MD of Kalyani Steels, too agreed that probability of steel prices remaining at current levels in April are
high as demand continues to remain subdued. Another steel major having strong presence in southern and western
India said that previous price increases were absorbed by the market but now the prices would remain stable.
An analyst said “Steel demand was likely to remain subdued going forward. Even after election if stable government
forms at center, it will not immediately translate in to investment. Real effect of new government will start reflecting
only after September, thus no major investment is seen in next six months at least.”
Steel prices across the globe, barring the US, have remained under pressure because of excess supply
Source – DNA
(www.steelguru.com)
CIL to hike coking coal prices by 10pct from April

Coal India Limited is planning to increase coking coal prices by 10% from April 1st 2014.
A senior company official said that “Though we have raised non coking coal price in the current year (2013 to 2014),
we have not revised coking coal prices since February 2012. Coal India produces nearly 15 million tonnes of coking
coal annually, mostly through its subsidiary Bharat Coking Coal Limited.
Steel makers such as Steel Authority of India Limited and TATA Steel Limited among others, meet a part of their
coking coal requirement from Coal India’s supplies.
This financial year, Coal India has raised non coking coal prices twice. In May, it raised prices by around 5% across
grades and across all subsidiaries and in December, it raised prices of coal at subsidiary Western Coalfields Ltd by
10%.
The impact of the price hike, in terms of additional revenue will not be significant for the coal behemoth as coking coal
comprises only around 3% of its total coal production, which is seen at 460 million tonnes in 2013 to 2014 (April-
March).
Source - Freepressjournal.in
(www.coalguru.com)
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Bright future for steel industry : SAIL chief
Notwithstanding poor growth in steel demand this year, state-owned SAIL believes the future of the industry is
bright as India’s per capita consumption is low and Government is planning to increase infrastructure spending.
India’s steel demand grew by just 0.5 per cent to 53.78 million tonnes during the April-December period of the
current fiscal, impacted by economic slowdown. Though India’s per capota consumption has increased from 29 kg
in 2000 to 59 Kg in 2012-13. In rural areas home to around 70 per cent of the population per capita consumption is
approximately one-fifth of the national average at 12 Kg.
The future of the Indian steel industry is indeed very bright and there are several enablers which indicate this and
includes low per capita consumption and governments plan to hike infrastructure spending. Starting that
government plans to increase infrastructure spending from the current 5 persent GDP to 10 per cent by 2017.
India is committed to investing $ one trillion in infrastructure during XIIth Five Year plan. Taking 15 per cent as
steel component in the total investment, then it can generate additional demand worth $75 billion os steel in next
few years or $15 bilion worth of additional demandf of 18.75 million tonnes per annum
Besides, the National Manufacturing Policy envisages the share of manufacturing in GDP to increase from 14 per
cent in 2012-13 to 25 per cent by 2025 with manifold increase in steel intensify translating into finished-steel
consumption of 230-255 MTPa by 2025.
Indian steel industry has also grown at a hand some pace from less than 22 million tonnes (MT) in 2000 to about 81
MT in 2012-13 at CAGR of 11 per cent. While it achieved the forst 27 MT of production capacity in 50 years
between 1951-52 to 1999-2000, the next 10 years – from 2000-01 to 2009-10. the country proposes to achieve 300
MTPA capacity by 2025.
Steel firms get more time to obtain green clearances
New Delhi, March 9 : The government has decided to give firms, including JSPL and Tata Steel, more time to seek
clearances from environment ministry and furnish proof on the same to coal ministry by December 1, falling which
their mines would be de-allocated.
“Accordingly, you are advised to take necessary steps for obtaining FC (forest clearance) state II from the Ministry
of environment and forests (MoEF0) by November 30, 2014 and furnish the proof thereof to this ministry by
December 1, 2014 falling which coal blocks would be de-allocated without further notice, the coal ministry said in
letters to the firms. The decision was taken following the recommendations of an inter-ministerial group coal block
Source : PTI
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Steel sector may see temporary over-supply
NEW DELHI PTI – With around 50 per cent capacity increase in the offing, India’s steel industry is likely to face to
temporary over supply situation, SAIL Chairman C S Verma said. “Substantial capacity additions are lined up in
the next 1 to 0 years in the country taking the capacity from the current level of around 90 million tones per annum
(MTPA) to around 135 MTPA by 2015-16,” he said. The rise in production may lead to a “Temporary phase of
over-supply,” he said adding, this because “typically the increase in capacities is in spikes, whereas the increase in
consumption follows a relatively smoother trajectory.”
Almost all the leading steel producers in the country have been jacking up capacities, anticipating a boost in demand
with an estimated $ one trillion to e invested in the infrastructure space during the current Plan Period. On the other
hand, the demand has not been rising on the expected lines. During the April-February period of the current fiscal,
India’s steel consumption expanded by just 0.7 per cent to 67.253 million tones (MT) over the same period last
fiscal, mainly due to slow economic growth.
Typically steel consumption rises by 1.1 times of the GDP growth rate for an economy. It remained largely subdued
so far in the current fiscal considering India’s slow GDP growth. India’s economy grew below expectations at 4.7
per cent in October-December on falling output in the manufacturing sector. The country’s GDP had expanded 4.8
per cent in the July-September quarter and 4.4 per cent in April-June period Growth in the first nine months (April-
December) was at 4.6 per cent.
Increased capacity and subdued consumption might lead to more exports. In the first II months of the current fiscal.
India’s steel exports were up by 8.1 per cent at 5.045 MT. Imports, on the other hand, saw a 31.1 per cent decline
during the period.
Indian rupee ends fiscal on a high on euphoria over elections
The Indian rupee posted its biggest quarterly gain since the September quarter of 2012, streaking past the 60/USD
level, to touch an 8 month high as foreign investors grabbed Indian shares anticipating a conducive electoral
outcome.
The rupee ended Friday’s session and the financial year at 59.89/90 to the dollar, a smart 15% up from the all-time
low of 68.85/$ that it hit in late August last year.
The rupee has gained 3.2% since December 31st. Combined foreign flows into the bond and equity markets are in
the region of USD 9.3 billion.
While exporters would be disappointed since they would earn less in rupee terms, oil marketing companies will be
big gainers as will be corporates importing coal or machinery.
Companies with unhedged foreign exchange exposures also stand to benefit since they will mark these to market at a
higher rupee value. The currency is expected to rise further to 57-58/$ if foreign flows into the bond and equity
markets sustain, but give up some ground thereafter. Market players observe that chances that the pro business
opposition BJP would win a strong mandate at the general elections is prompting foreign funds to invest in India.
Several exit polls have also predicted a strong win for a BJP led coalition.
The optimism surrounding elections comes on the back of improving macroeconomic data and a general
improvement in global sentiment as well.
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Mr Manoj Rane, MD and head of global markets at BNP Paribas, said that “If we see an inflow of around USD 5
billion in the next month, the rupee could rise to 58 or 57/$. However, in the medium term, the rupee is likely to
settle in the 60-63/$ range once the euphoria over elections tapers.”
Source - www.nagalandpost.com
(www.steelguru.com)
Imported Scrap offers to India rose by USD 15/MT over strong currency and high offers in
global market.
Imported Scrap prices have risen in Indian market owing to strong Indian currency, which has appreciated around
3% in last few trading sessions and rising offers in the global market.
Sources tell SteelMint that current offers from Middle East are hovering in the range of USD 380-385/MT CFR
Mumbai based on quality & delivery, which has gone up by almost USD 15/MT from last month. Recently, a vessel
carrying 8 containers of HMS 1 from Oman is to be delivered to Nhava Sheva Mumbai next week. The deal is heard
to be settled at USD 383/MT CFR.
Indian importers are inclined towards Middle East offers. As per few market participants we talked, prompt delivery
from Middle East is one of the major reasons for frequent transactions. It takes maximum of 7-9 days to deliver the
material from Middle East to India. Currency fluctuation is also an important factor while trading internationally. An
importer based in Mumbai opined,
Source : http://www.steelmint.com/news/imported-scrap-offers-india-rise-strong-currency-21254
Chhattisgarh’s steel manufacturers will be charged by different Value Added Tax (VAT) in sales as per capital
expenditure in plant. For capital investment of more than INR 10 crore will be charged by 5%, whereas capital
expenditure of less than INR 10 crore will be charged by 3%.
As per the CG Budget announcement w.e.f. 1Apr 2014, the new VAT charges will be implemented
as per the industry categorization. The small scale (capital less than 1 crore) and medium scale
(capital less than 10 crore) steel industry will be charged by 3% VAT. However, large scale (capital
more than 10 crore but less than 100 crore) industry will be charged by 5% VAT. Similarly, CST 2%
will be applicable to large scale manufacturers, whereas small & medium scale steel industrialist will
be charged by 1%. Around 6 major TMT brands will fall under 5% VAT, whereas rest will be charged
by 3% VAT.
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“Its sad news for the steel industry as the same product (Re-bar) will be charged for two separate
taxes (as per the industry classification) by two separate plants. The industry as a whole doesn’t
support this law,” said a Re-bar manufacturer (medium scale), benefited by 2% rebate in VAT.
Particular Mftg > 10 crore Mftg < 10 crores Difference

Size/Rate Price Size/Rate Price
Brand Positioning Premium Commercial
Basic 12 mm 34,500 12 mm 33,800 700
Loading 115 34,615 115 33,915
Excise duty 12.36% 4,278 12.36% 4,192
VAT 5% 1,945 3% 1,143

Ex-plant including VAT 40,838 39,250 1,588
CST 2% 778 1% 381

Ex-plant including CST 39,671 38,488 1,183
Note: Only Reference Price
Source : www.steelmint.com

Srma Steel News: Steel Re-Rolling Mills Association of India

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Steel Re Rolling Mills

SRMA STEEL NEWS Association of India

Steel Re-Rolling Mills Association of India

Sl. No, Name

Shri B.M. Beriwala,

Shri Jagmel Singh Matharoo,

Shri Ramesh Kumar Jain,

4. Shri Sanjay Jain

5. Shri Kailasj Goel

8. Shri Sandip Kumar Agarwal

10. Shri Sanjay Surekha

11. Shri R P Agarwal

12. Shri S. S. Bagaria

SRMA STEEL NEWS Association of India

SRMA STEEL NEWS Association of India

SRMA STEEL NEWS Association of India

ADVANTAGES OF DIRECT ROLLING PRACTICES

 Savings in the cost of Ingot moulds, refractory, etc.

SRMA STEEL NEWS Association of India

 A suitable radius mould tube having indirect cooling through DM water

 A suitable radius at secondary portion of the CCM is provided up to the

SRMA STEEL NEWS Association of India

 Proper Selection of raw material for Induction Furnace (IF).

 Scheduled predictive/preventive maintenance in time for all the facilities

 Proper and adequate arrangements for proper ramming mass

 Maintenance of the desired temperature profile as planned

 Cooling bed must also be made automatic.

SRMA STEEL NEWS Association of India

Vision, Objectives and Functions

5) Improving the techno-economic efficiency of operations of steel ministry’s PSUs.

7) Promotion of Research and Development in steel sector.

SRMA STEEL NEWS Association of India

External factors affecting the sector

Source : Ministry of Steel

SRMA STEEL NEWS Association of India

To provide greater focus on Research and Development (R&D) for developing

To encourage production and consumption of value added steel by providing

Promotion of steel consumption is to be undertaken primarily by the steel producers. However,

SRMA STEEL NEWS Association of India

By 2025, it is estimated that 70 per cent of Indians will be of working age.

Source : Ministry of Labour

SRMA STEEL NEWS Association of India

NEW DELHI: India Inc should brace to set aside a specified

SRMA STEEL NEWS Association of India

CENTRAL EXCISE NOTIFICATION

In the said notification, the following proviso shall be inserted, namely:-

SRMA STEEL NEWS Association of India

Withholding tax on installation charges: Deloitte

SRMA STEEL NEWS Association of India

SRMA STEEL NEWS Association of India

Minerals, Metals, Metallurgy & Materials (MMMM) 2014

4-7, September 2014

Metal + Metallurgy China 2014

15th Asian Ferro-alloys Conference

Metal & Steel Saudi Arabia 2014

Organiser: Arabian German Exhibitions Co Ltd

SRMA STEEL NEWS Association of India

Indian steel prices to remain stable in April

CIL to hike coking coal prices by 10pct from April

SRMA STEEL NEWS Association of India

Bright future for steel industry : SAIL chief

Steel firms get more time to obtain green clearances