BIS
Gold prices at record high: Latest gold jewellery rates today at Malabar Gold, Joyalukkas, and Tanishq
Gold prices surged as investors seek refuge in the yellow metal amid rising inflation, global economic uncertainties, and a weaker US dollar. Many individuals are considering selling their gold jewellery to take advantage of high prices.
India, Malaysia to speed up review of Asean Goods pact
India and Malaysia have agreed to expedite the review of the Asean India Trade in Goods Agreement (AITIGA) for completion by 2025. The review aims to address bilateral trade, market access, and cooperation in sectors including semiconductors and services, with the next meeting scheduled for April 9-11.
Govt exempts critical AC and refrigerator components from BIS certification to prevent shortage during summer
To prevent a potential shortage during a brutal summer, the Indian government has exempted certain AC and refrigerator components from mandatory BIS certification. This move targets grooved copper tubes and AC compressors over 2 tonnes, with DPIIT considering similar exemptions for other compressors. Industry bodies have pushed for these waivers due to insufficient domestic capacity.
India, Malaysia discuss expediting Asean trade pact review, semicon cooperation
India and Malaysia have agreed to expedite the review of the Asean India Trade in Goods Agreement (AITIGA) for a substantial conclusion by 2025. Both sides also discussed bilateral trade, market access, and other areas of cooperation. A joint committee meeting is scheduled for April 9-11, aiming to advance the review process this year.
Amid Amazon and Flipkart warehouse raids, spotlight falls on a major originator of non-certified products
BIS has conducted major raids on Amazon and Flipkart warehouses to eliminate non-compliant products from e-commerce platforms. Investigations uncovered numerous uncertified items, leading to legal actions under the BIS Act, 2016. BIS has urged consumers to verify product certifications using the BIS Care app to ensure safety and quality in the market.
Explained: Why Amazon and Flipkart are under the scanner for non-certified products
The Bureau of Indian Standards carried out search and seizure operations at several Amazon and Flipkart warehouses in Lucknow, Gurugram, and Delhi, reportedly uncovering non-certified products. The Bureau has issued notices to Amazon, Flipkart, Meesho, Myntra, and BigBasket, instructing the e-retailers to sell only BIS-certified products.
Amazon reaffirms commitment to compliance, consumer safety after BIS raids on non-certified products
BIS raids at Amazon and Flipkart warehouses revealed non-certified products, including toys and electronics, violating regulations. Amazon responded by emphasizing its commitment to compliance. The issue highlights the need for more accessible BIS certification processes, as legal actions under the BIS Act, 2016, have already been initiated against the defaulters.
AC Demand set to surge in India: Amber Enterprise, Voltas could give 17-23% return in1 year
The Indian RAC industry is witnessing strong demand in FY25 despite compressor shortages. Manufacturers have managed supply issues through alternative sourcing and inventory management. With AC demand expected to grow at a 19% CAGR, industry players seek BIS certification extensions for key components.
Stock market dream 11: William O'Neil picks its portfolio champions for all seasons
Mayuresh Joshi of William O'Neil India puts forth a list of 11 stocks, inspired by the India Champions Trophy-winning team, that demonstrate diverse qualities such as aggressiveness, stability, and an X-factor. These stocks include prominent names like Avanti Feeds, Bajaj Finance, and Narayana Hrudayalaya, suitable for various market conditions and showcasing strong potential for performance.
New quality control orders for steel parts may lead to factory shutdowns, job losses: GTRI
India risks widespread factory shutdowns and job losses due to upcoming quality control orders (QCOs) on steel fastener imports. The QCOs, to be implemented in phases, might lead to critical shortages and customs delays. Small firms may struggle with certification, potentially causing industrial stagnation.
Summer sales sizzle early: Soft drinks and ice creams see 25% YoY surge in March quarter
India experienced its hottest February in 125 years, resulting in a significant increase in sales of cooling products such as soft drinks, air-conditioners, coolers, and ice-creams, which saw a rise of 20-25%. Manufacturers and retailers are ramping up production and supply chains to meet early summer demand.
Uttar Pradesh CM Yogi Adityanath inaugurates Avaada Group's 1.5GW solar module facility in Noida
Uttar Pradesh Chief Minister Yogi Adityanath inaugurated Avaada Group's 1.5 GW solar module manufacturing Gigafactory in Noida. Additionally, the foundation was laid for a 5 GW integrated solar manufacturing unit in Greater Noida, signalling the state's significant contribution to India's renewable energy transformation and economic growth.
Greenply Industries to benefit from these factors: Analysts are bullish on its stock
Greenply Industries is reaping the benefits of India’s growing furniture and wood panel markets. Factors like rising population, increasing disposable incomes, improving living standards and rising usage of online shopping platforms are driving furniture demand.
Ola Electric’s battery unit receives IFCI notice for missing PLI-ACC scheme targets
It received a letter from the IFCI for failing to meet targets under the PLI Advanced Chemistry Cell scheme. IFCI is the project management agency overseeing the scheme’s implementation.
Ola Electric receives letter from IFCI for missing out on PLI milestones
Ola Electric's subsidiary missed targets under the PLI ACC scheme, as mentioned in a letter from IFCI Ltd. Despite the setback, an Ola spokesperson confirmed the initiation of trial production at its Gigafactory in March 2024 and assured that commercial production of lithium-ion cells would begin by Q1 FY26, positioning Ola as India's first manufacturer under the ACC PLI scheme.
Shipping profit boom evaporates on US tariffs, Red Sea reopening
Global shipping giants are bracing for a potentially challenging 2025 due to new US tariffs and the reopening of the Red Sea route. Shipping rates and earnings are expected to decline significantly, with major players like Maersk and Cosco facing a difficult year ahead.
AC prices set to soar: Rupee plight is raising the heat on what cools you
With rising temperatures, air conditioner prices are set to increase due to higher import costs from a weaker rupee and supply chain disruptions. Despite efforts to boost domestic production, India's dependence on imports, particularly from China, continues. Industry players anticipate a surge in demand, though availability of preferred brands might be limited, and price hikes are expected.
Global brands bare their soles to India's BIS
Global brands like Nike, Tommy Hilfiger, and Superdry may soon resume importing premium footwear to India as the government has initiated certification of overseas factories after 18 months. The move follows pressure from US President Trump and the fallout from India's newly introduced quality control orders.
Several liquor quality test reports not compliant with BIS norms: CAG report
Several liquor wholesalers have failed to submit mandatory quality test reports for various brands, violating Bureau of Indian Standards norms, according to a CAG report. The excise department is urged to ensure stringent compliance with quality standards for liquor supplied in Delhi, underlining the necessity of test report accuracy and accredited labs.
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