NOVEMBER, 20258TOP STORIESTOP STORIESRASHMI GROUP TO BUILD 10,000 CR STEEL PLANT IN PURULIA BY 2030ELECTRONICS EXPORTS POISED TO OVERTAKE PETROLEUM IN INDIARashmi Group, which is located in Kolkata, has revealed plans to build a 2.8 million tonne per annum (MTPA) integrated steel plant and a 400 MW captive power plant at Purulia, West Bengal, which will be one of the largest industrial investments for the state in years. This project, estimated to cost 10,000 crore, has a target completion date of 2030.As a result of these plans, the West Bengal government is supporting Rashmi Group by allocating 938 acres of land, as well as designating it as an 'ultra mega project'. Being classified as an 'ultra mega project' allows faster approvals, as well as facilitating the approval process and moving the project along with greater efficiency. This is clearly a reflection of the government's proactive stance toward expanding the manufacturing sector in the state.L. B. Chourasia, Joint President of Rashmi Group, said the company's expansion aligns closely with the West Bengal government's vision of inclusive, industry-led growth. ""Our investments reflect not only confidence in the state's potential but also our shared commitment to making Bengal a leading economic powerhouse of the East," he said.Rashmi Group, who is currently engaged in iron and steel, cement, power, ferro alloys, and mining activities, believes that this new integrated steel facility is an important part of their long-term growth strategy. To date, it is known that the group has invested over 20,000 crore in West Bengal, demonstrating its continued commitment to the industrial growth in the region.Rashmi Group would like to use this new steel plant at Purulia to consolidate its steel business in India, while simultaneously creating jobs and economic development in Eastern India. In the first six months of FY26, India's electronics exports rapidly moved up the ranks, cementing their status as the country's third-largest and fastest-growing export category based on commerce ministry data.The electronics industry could be on track to surpass petroleum product exports in two years amid restrictions on the purchasing of Russian oil, and move to second position after engineering products, according to specialists.The electronics category ranked 7th among the leading export categories in FY22; during the year ending March, it was the fastest growing of the top 10 categories.It is now the fastest-growing category among all 30 export categories in the first 6 months of FY26. In its climb to 3rd place, it displaced gems and jeweler from 3rd place and chemicals from 4th place in FY25. Prior to that, in its rise from 7th place in FY22, it overtook drugs and pharmaceuticals companies and readymade garments category to reach number 3 overall.The trade ministry's half-yearly export data shows that electronics shipments increased 42 percent to $22.2 billion, of which Apple's iPhones account for about half, from $15.6 billion the previous year. As Indian refiners are discouraged by the United States from purchasing Russian crude, electronics exports may become the second most shipped category, replacing petroleum items.
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