News and Events

Auto sector seen growing 12-15% in FY12

India's automobile industry is expected to grow 12 to 15% in FY12, President of Society of Indian Automobile Manufacturers (SIAM) Mr. Pawan Goenka, said on Friday. He added that passenger car sales are expected to grow at 16 to 18% in the year.

Car sales in India rose 24.4% in March, SIAM said, driven by a growing middle class in Asia’s third-largest economy, easier access to loans and a wider choice of models.

EU scrap metal law aims to boost trade and recycling Euractiv reported that in a drive to boost recycling markets, the European Union has adopted quality criteria for iron, steel and aluminum scrap with similar rules in the pipeline for other materials such as copper, paper, glass and compost.

Last week, the EU Council of Ministers adopted a regulation establishing criteria to determine when scrap iron, steel and aluminum cease to be considered waste. The regulation sets out conditions to be fulfilled for each scrap material before it can be freely traded within the EU's internal market.

The European Commission stressed that iron, steel and aluminum scrap should be sufficiently pure and meet the relevant scrap standards or specifications required by the metal producing industry.

Mr Janez Potocnik environment commissioner said that "We must start treating waste as a valuable resource. End of waste criteria for material streams would boost our recycling industry and services.”

Currently, trade in recycled materials is hampered by different national legislation. The new regulation is expected to create legal certainty and a level playing field for the recycling industry and remove administrative burdens for the recycling sector by releasing safe and clean secondary raw materials from the scope of waste legislation. It will also contribute to supplies of raw materials for European industry.

(Sourced from www.euractiv.com)