Larsen & Toubro (L&T) has announced that its construction arm has secured large orders from numerous clients across multiple states in India. The infrastructure giant, however, did not declare the exact value of the contract but said that the orders are in the range of Rs 2,500 to Rs 5,000 crores.
According to the company stock exchange filing, L&T’ buildings and factories business have bagged a contract for the construction of campus development of IIT Hyderabad at Kandi. Also, L&T’ buildings and factories business secured another order from an Indian Real Estate development company for the construction of “Asset 13 project” at Aerocity, New Delhi.
The company informed that the project involves the construction of hotel building, office complex, international conference and business centre as well as multi-level car parking spaces. The time frame for the completion of the project is set at 22.5 months.
L&T’ metallurgical and material handling business in its existing project at NTPC, Patratu Thermal Power Plant (Jharkhand) secured additional order from BHEL for Ash Handling Plant (AHP). L&T also stated that its GeoStructure business bagged an order for the Central Square underground space development from CMRL.
Read EquityPandit’s Nifty Outlook for the Week
India’s Manufacturing PMI Hits 8-Month High at 58.1 in March
India’s manufacturing activity surged in March 2025 as the PMI climbed to 58.1, marking an eight-month high and signalling a strong recovery.
New orders hit their highest level since July 2024, driven by strong customer interest, favourable demand, and effective marketing.
Production expanded sharply, though international sales growth slowed to a three-month low, with exports rising in Asia, Europe, and the Middle East.
Finished goods inventories saw their steepest decline over three years, prompting firms to boost input purchases at the fastest rate in seven months.
Supply chains remained stable, with lead times improving for the thirteenth straight month, while input costs rose due to higher prices of copper, electronics, leather, LPG, and rubber.
Hiring increased steadily, though capacity pressures limited job growth. Manufacturers remained optimistic about future output, supported by strong demand and pending projects.
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US slams high India duties on farm goods before 2nd April tariffs
The Donald Trump administration has raised concerns over India’s high tariffs on American farm goods just days before reciprocal duties take effect, increasing pressure on India to ease restrictions in its agriculture sector.
The White House criticised India’s 100% tariff on American farm products, pointing to similar trade barriers in the EU, Japan, and Canada.
A US report highlighted India’s 39% tariff on agricultural imports—eight times the US rate—covering items like apples, corn, and coffee. It also noted non-tariff barriers such as import bans and licensing requirements.
Despite opposition from Indian farmers to free trade deals, New Delhi is considering lowering tariffs on select US agricultural products.
India has already reduced duties on bourbon whiskey and high-end motorcycles, with both nations aiming for a trade deal by October or November.
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Provident Fund Update: Govt Raises Auto-Settlement Limit to ₹5 Lakh for 7.5 Crore Indians
EPFO is set to enhance the auto settlement limit for advance claims from Rs 1 lakh to Rs 5 lakh, pending final approval from the Central Board of Trustees (CBT), benefiting 7.5 crore members.
The auto-mode claim settlement, introduced in April 2020 for illness, now covers education, marriage, and housing, with claims processed within three days.
In the current financial year, EPFO has settled a record 2.16 crore auto-claims as of 6th March 2025, up from 89.52 lakh in 2023-24. The rejection rate dropped to 30% from 50% last year, while validation formalities have been reduced from 27 to 18, with plans to cut them to six.
The process is now IT-driven, eliminating human intervention and reducing claim settlement time from 10 days to 3-4 days.
EPFO will also introduce UPI-based PF withdrawals by May or June 2025, potentially benefiting other schemes like the General Provident Fund (GPF) and Public Provident Fund (PPF).
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Govt to impose 10% import duty on desi chana from 1st April
The government will impose a 10% import duty on desi chana (Bengal gram) from 1st April.
In May last year, the government allowed duty-free import of chana to boost domestic availability and control prices. This waiver was set to last until 31st March 2025.
According to a finance ministry notification dated 27th March, the import of Bengal gram will now attract a 10% duty starting from 1st April.
Government data estimates chana production at 11.5 million tonnes in 2024-25, up from 11 million tonnes in the previous year.
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India Considers Tariff Cuts on Key US Imports, Decision Pending
India is exploring tariff reductions on select US imports, with key government departments actively discussing the matter. While deliberations are still in the early stages, no final decision has been made.
A comprehensive review of import categories and existing duties is underway to assess potential reductions to strengthen trade and economic ties between the two nations.
Some key product categories that may see lower basic Customs duties include:
- Medical & Scientific Instruments (7.5%-10%)
- Cruise Ships (10%)
- Aircraft (2.5%)
- Spacecraft (10%)
- Cars (100% for CIF value above $40,000, 70% below this threshold)
- Turbo Jets/Propellers (7.5%)
- High-End Jewellery (20%)
- Gems & Jewellery (20%)
- Footwear (35%)
- Plastic Polymers (7.5%-15%)
- Organic Chemicals (7.5%)
In 2024, India’s imports from the US reached $35 billion, reflecting a 6.7% increase from the previous year.
While discussions on tariff cuts continue, stakeholders closely watch developments that could impact trade flows between countries.
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