DECEMBER - 20248INDIA TOPS ALUMINIUM SCRAP IMPORTS, HINDERING DOMESTIC INDUSTRY GROWTHIndia has emerged as the globe's top importer of aluminium scrap, a change that impedes the expansion of its local industry. Industry participants argue that the anti-dumping tariffs on solar panel parts represent a crucial advancement in establishing a competitive and sustainable aluminium ecosystem.A spokesperson for the Aluminium Association of India, said "We are optimistic of similar measures in the upcoming budget to empower domestic aluminium producers, which will enable them to support the global energy transition and also induce them to invest in added capacity to meet the growing demand."Given that India's aluminium demand is expected to hit 10 million tonnes by 2030, strong actions like increased import duties and anti-dumping safeguards are essential for the industry's sustained growth. Sure! Please provide the text you would like me to paraphrase.The Aluminium Association of India (AAI) has expressed approval of the government's choice to levy anti-dumping duties on anodized aluminium frames for solar panels and modules imported from China. AAI asserts that this move will enhance the domestic downstream aluminium industry by providing greater market opportunities and promoting a self-sufficient aluminium sector in India.The implemented anti-dumping tariffs, valid for five years, seek to limit the arrival of inexpensive imports and promote domestic manufacturing. The alert issued by the Ministry of Finance emphasized that imports from China have severely obstructed the growth of local manufacturing capabilities. IMRJSW MG MOTOR SEES 20 PERCENT SALES SURGE IN NOVEMBER, 70 PERCENT FROM EVSIn November, JSW MG Motor's sales in India rose by 20 percent to 6,019 units, with 70 percent of these figures originating from new energy vehicles (EVs). In the two-wheeler market, demand stayed strong due to better consumer attitudes in rural regions. TVS Motor Company, located in Chennai, experienced a 6% increase in sales, reaching 305,323 units in November 2024.Sales of cars in the local market rose by approximately 4 percent last month, with demand in the market remaining steady even after the festive season ended. Industry estimates indicate that around 350,000 cars, including sedans and utility vehicles, were delivered from factories to dealerships last month, marking a 4 percent rise compared to 336,000 units sold during the same period in the previous financial year. In India, automobile manufacturers primarily announce wholesale deliveries rather than retail sales to consumers.Industry figures were bolstered by the market leader, who experienced a sales increase of 5 percent, reaching 141,312 units in November. Partho Banerjee, senior executive officer (marketing and sales) informed ET, "The demand surge that we experienced during the festive season has persisted into November. The wedding season has boosted sales. SUVs, in particular, are experiencing strong popularity. Last month, SUVs accounted for as much as 29 percent of the company's sales, increasing from approximately 26 percent at the beginning of the fiscal year. IMR TOP STORIES
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