Latest news with #Maitra
Time of India
6 days ago
- Business
- Time of India
Explained: Why copper smelters are now paying to process ore—and what this means for India's clean energy future?
New Delhi: For the first time in decades, copper smelters are facing a situation where processing ore is becoming a loss-making business. Treatment and Refining Charges (TCRC), which smelters earn for converting copper concentrate into refined metal, have dropped to zero—or worse, turned negative. This means some smelters are now paying more for raw copper ore than the value they recover after refining it. This shift is not only rewriting global smelting economics but also raising serious questions for India's industrial strategy, especially at a time when domestic copper demand is climbing due to the rise of renewable energy, electric vehicles, and power grid expansion. What are TCRC and why do they matter? TCRC—or Treatment and Refining Charges—are what smelters charge for processing copper concentrate into refined metal. Historically, these charges have provided a stable revenue stream to offset the costs of running smelters. But when concentrate supply tightens and smelting capacity outpaces ore availability, competition drives down TCRC. This has now reached an unprecedented point where the charges are so low that smelters are losing money on each tonne processed. According to Rajib Maitra, Partner at Deloitte India, this sharp fall is due to three structural causes. First, mining disruptions in countries such as Panama, Peru, and the Democratic Republic of Congo have reduced global concentrate supply. Indonesia's ban on copper concentrate exports has made the market even tighter. Second, there has been a global decline in ore grades, making copper harder and more expensive to extract. And third, smelting capacity—particularly in China—is expanding faster than mine output, causing an imbalance in the global value chain. How China's strategy shaped the TCRC collapse? China's dominance in the copper smelting ecosystem is a key driver behind the collapse in TCRC. With over 44 percent of global refined copper capacity, China is not just a consumer but a commanding force in how global contracts are structured. Its state-owned enterprises (SOEs) have invested heavily in long-term offtake agreements and equity stakes in overseas copper mines. This gives Chinese smelters first access to concentrates and allows them to negotiate more favourable terms. China has also led the world in building new smelting capacity, often subsidised or supported by the state, leading to global oversupply in refining infrastructure without a corresponding increase in ore. As Maitra notes, this has left smaller and newer smelters—especially those without mining assets—struggling to stay afloat in a market where the economics no longer work. An industry expert, speaking anonymously, pointed out that China's grip is not commercial but strategic. 'The TCRC market is no longer market-driven—it's China-driven. Chinese SOEs control long-term contracts and have built capacity at a pace unmatched by mine supply. Their approach has been nationalist, not commercial. They locked up ore sources and now dictate global terms. New smelters outside China are entering a race with no oxygen.' Where does India stand in this shifting global equation? Indian smelters are somewhat insulated from this collapse, but only in the short term. Recent policy moves—such as the elimination of the 2.5 percent Basic Customs Duty on copper ore in the FY25 Budget and the removal of the duty on copper scrap in FY26—have reduced input costs for Indian refiners. In addition, domestic smelters have adopted modern technologies such as the Mitsubishi and NERIN processes. These allow for better metal recovery and more efficient use of by-products like gold, silver, and sulfuric acid. The latter is especially important in India, where sulfuric acid is a key input in the fertiliser sector and is subsidised. These by-products have helped smelters partially offset the losses from copper refining , but only those with integrated operations and advanced recovery techniques have managed to do so. Greenfield or standalone smelters without secure access to concentrates remain vulnerable to market volatility. What does the future look like for Indian copper refiners? The situation is unlikely to improve unless India addresses its structural dependence on imported concentrates. As Pallab Dutta, Partner – Metals and Mining at PwC India, notes, 'The collapse in global TCRC levels has exposed a structural vulnerability in India's copper refining landscape—its heavy reliance on imported concentrates.' He suggests two broad pathways to future resilience. One is to better organise the domestic copper scrap ecosystem, increasing recycling and reducing dependence on imported ore. The second is to accelerate copper mining within India, backed by policy reforms and faster project clearances. Without these interventions, the industry risks losing competitiveness as input costs continue to rise and margins remain squeezed. What can government policy do to stabilize the industry? Maitra believes a mix of trade, fiscal, and strategic policy tools can offer relief. One step could be reviewing Free Trade Agreements with regions like ASEAN, the UAE, and Japan, to prevent duty-free access for refined copper imports, which undercuts domestic smelters. Another is to consider raising the current five percent import duty on refined copper to give local refiners a buffer. He also suggests exploring the idea of a Strategic Copper Reserve, similar to India's Strategic Petroleum Reserve, to ensure a steady supply of copper concentrates in times of global disruption. Government support in R&D for improving by-product recovery could also help improve the economics of copper refining. Why this matters now more than ever? India's energy transition is copper-intensive. From power grids and electric vehicles to solar panels and industrial wiring, copper is critical to meeting clean energy goals. As demand rises, the ability to refine copper domestically becomes a national economic and strategic priority. If smelters continue to operate at a loss or scale down due to unviable margins, India could end up importing more refined copper at a higher cost. That could have a cascading effect on downstream industries, energy pricing, and manufacturing competitiveness. Companies are now looking to secure long-term concentrate supply from copper-rich nations like Chile, Peru, and Australia to reduce dependence on volatile spot markets. Maximising the recovery of rare by-products such as molybdenum, selenium, tellurium, and nickel is also seen as a key lever to maintain profitability. There is also growing focus on enhancing copper recycling and investing in secondary refining, which can offer more stable economics and environmental benefits. The road ahead The TCRC collapse is not just a market disruption; it is a signal of deeper structural shifts in the global copper supply chain. For India, the response will need to go beyond import duty tweaks and efficiency upgrades. It will require a national strategy that looks at resource security, trade policy, and supply chain resilience in an integrated manner. If the country is serious about becoming a clean energy leader, it must ensure that its copper industry is not priced out of its own future.
Time of India
06-07-2025
- Health
- Time of India
Govt Restores 30 per cent Faculty Quota for MSc/PhD Holders in Medical Colleges
New Delhi: Revisiting faculty norms in medical education, the National Medical Commission (NMC) has reinstated the 30 per cent appointment quota for non-medical faculty — MSc/PhD degree holders — in non-clinical departments such as Anatomy, Physiology, Biochemistry, Microbiology, and Pharmacology. In its latest gazette notification, the country's apex regulatory body for medical education stated, 'In the departments of Anatomy, Physiology, Biochemistry, Microbiology, and Pharmacology, non-medical teachers may be appointed to the extent of 30 per cent of the total number of posts in the department, subject to the non-availability of medical teachers.' This marks a reversal of the earlier move under the 2020 Minimum Standard Requirements (MSR) guidelines, where the ceiling for non-medical faculty had been reduced to 15 per cent, triggering concern and legal challenges from affected professionals. Dr Arjun Maitra, President of the National Medical Teachers' Association (NMMTA), welcomed the move, stating, 'The ministry has stood by the principles of fairness and meritocracy. This reform brings relief to hundreds of highly qualified MSc/PhD faculty members who were unfairly sidelined.' Although NMMTA's legal petition against the previous guidelines is still pending, Dr Maitra said the Ministry's decision to resolve the issue through policy reflects a commitment to justice and inclusivity. 'We see this as a milestone in our long and difficult journey toward recognition and respect,' he added. Previously, the NMC had also restricted such faculty to teaching only during a "transitional period" — without defining its duration — and did not clarify the scope of applicability. The lack of specificity led to confusion and anxiety among educators. Dr Ayan Das, Secretary of NMMTA, stressed the need for further clarity. 'To avoid ambiguity and alleviate concern among current faculty, the body must now clearly define the 'transition period' and correct misinterpretations around UGC norms — particularly the misconception that part-time PhDs earned in-service are invalid. Only distance-mode PhDs are not recognised.' The reinstatement is being seen as a significant step toward equity in academic appointments, especially in the backdrop of a growing demand for quality educators in India's expanding network of medical colleges.
Hindustan Times
02-06-2025
- Politics
- Hindustan Times
Complaint filed against Kolkata man who lodged FIR against Sharmishta Panoli
KOLKATA: A police complaint has been filed against a 30-year-old Kolkata resident, whose May 14 complaint led to the arrest of a 22-year-old law student for a social media post from Gurugram, people familiar with the matter said on Monday. Sharmishta Panoli, a law student and a social media influencer, was arrested by a team of Kolkata Police from Gurugram in Haryana on May 30 on charges of spreading communal hatred. She was produced before a Kolkata court and remanded in judicial custody till June 13. Panoli's arrest on Friday night was made on a complaint filed by Kolkata resident Wazahat Khan Qadri Rashidi with the Garden Reach police station and ignited a political row, with the Bharatiya Janata Party (BJP) criticising Panoli's arrest on the ground that she had already deleted the video and apologised for it. As the Kolkata police defended its decision to arrest her, a Kolkata resident Prasun Maitra on Monday filed a formal complaint against Rashidi for the two now-deleted posts on the social media platform X, which he said, hurt the religious sentiments of Hindus. Maitra, who emailed his complaint to Kolkata police commissioner Manoj Kumar Verma and other top officers, also attached screenshots of Rashidi's posts. 'Your recent activism shows that you are very much against such communally instigating posts and determined to enforce the rule of law. In view of the above, you are requested to initiate appropriate legal action against the person, described above, in line with your recent activities and as per law of the land so that your integrity doesn't come under any question,' said Maitra in his complaint. Maitra followed up on his complaint several hours later, noting that the police were yet to register a first information report (FIR) on the basis of his complaint. Asked, a senior Kolkata police officer said appropriate action will be taken by the police. Harikrishna Pai, deputy commissioner of police (Port) said Maitra's complaint will be looked into and action taken according to law. 'Whatever complaint we get, we will definitely take legal action. He (Maitra) has sent his complaint to several officers,' Pai told HT. Garden Reach police station is in the Port Division of the Kolkata police. HT made repeated attempts to contact Rashidi, but his mobile phone was switched off. Rashidi filed his complaint against Panoli on May 14, identifying himself as general secretary of the Rashidi Foundation based at Paharpur Road. The FIR was registered on May 15 after Tanmoy Samui, the officer-in-charge of Garden Reach police station directed sub-inspector P Tamang to register the case and asked inspector N Akhtar to 'take up the investigation.' HT has seen a copy of the first information report (FIR) registered on May 15 under sections 196 (1) (a), 299, 352 and 352 (1) (c) of the Bharatiya Nyaya Sanhita. HT tried to contact Tanmoy Samui to enquire why Panoli was booked for culpable homicide not amounting to murder. But the duty officer at the police station said Samui was not available. Inspector N Akhtar, the investigating officer, could not be contacted either. When many social media users criticised Panoli's arrest, the Kolkata Police defended its action on X on Sunday. In a post, police said some social media accounts were spreading false information that Kolkata Police had unlawfully arrested a law student for opposing Pakistan. 'This narrative is mischievous and misleading. Expressing national pride and patriotism is a thing that every citizen and organisation stands for. Kolkata Police being no different, stands firmly with the citizens of India,' the post said, It added that the Panoli case was registered 'on the basis of allegations that she posted a video which was insulting to the religious beliefs of a class of citizens of India and amounted to promoting disharmony and hatred between different communities. 'The case was registered under appropriate sections of Bhartiya Nyaya Sanhita. The case was duly investigated and, adhering to legal procedures, several attempts were made to serve notice u/s 35 of BNSS to the accused but everytime she was found absconding,' the Kolkata police said. 'Kolkata Police acted lawfully according to the procedure established by law. The accused was not arrested for expressing patriotism or for personal belief; legal actions were taken for sharing offensive content which promotes hatred among the communities,' it added.
India.com
26-05-2025
- Business
- India.com
Big move by Mukesh Ambani as Reliance is building 3 big factories in..., solar panels will be ready by...
Big move by Mukesh Ambani as Reliance is building 3 big factories in…, the plan is to... In a major move, one of the world's richest men, Mukesh Ambani's company Reliance Industries Limited (RIL) will start its solar photovoltaic modules factory this year. Parth P Maitra, President of Strategy and Initiatives at RIL, stated that the company is going to build three big factories. 'We are building three big factories… These factories will produce clean energy-related needs,' Maitra said. Notably, after falling behind in the year 2022, India is trying to meet its clean energy target, and Reliance could help the country achieve its target. Target To Increase Capacity To 20 GW Annually It is to be noted that, in recent years, India has increased its investments in clean energy, targeting 500 GW by 2030. But to achieve its target capacity additions will have to be doubled in the next five years, says a report by the Global Energy Monitor. Maitra has said that Reliance aims to increase the solar module capacity to 20 GW per year. He added that the company will start its battery and micro power electronics factory by 2026. No. 2 In Making Solar Panels Parth P Maitra said that if everything goes as per the plan, India will become No. 2 in the world in making solar photovoltaic modules (solar panels). 'We will produce about 14 percent of the total solar photovoltaic modules outside China,' Maitra said. Currently, shares of Reliance Industries are trading at Rs 1409.60 with a decline in BSE on Thursday. So far this year, the shares of the company have increased by more than 15 percent, giving good returns to the investors. In the last five years, the shares of Reliance Industries have seen a rise of more than 115 percent. The 52-week high level is Rs 1608.95. At the same time, the 52-week low level of the company's shares is Rs 1115.55.
Hindustan Times
11-05-2025
- Health
- Hindustan Times
24/7 help to QR codes: IIT Kharagpur rolls out measures to curb deaths by suicide
Kolkata: The Indian Institute of Technology (IIT) Kharagpur has announced a series of measures—including the formation of an expert committee, round-the-clock access to in-person counsellors, QR codes in hostel rooms, and a structured counselling calendar—to help prevent deaths by suicide among students. After a third-year civil engineering student was found dead in his hostel room on May 4, the third death by suicide on IIT Kharagpur campus this year and the ninth in the last five years, dean of students Bhargab Maitra said that a committee comprising psychiatrists, psychologists, a former Indian Police Service (IPS) officer, ex-IITians from Kharagpur, and retired professors who were in charge of student affairs during their tenure had been formed. 'One of the present associate deans of students' affairs has been made the convenor of the committee. The committee has been asked to submit a report within three months to the director,' Maitra, who is also a professor in the civil engineering department, said. The committee has been directed to assess the factors affecting the mental health of students, take stock of initiatives that are already in place, identify gaps, and recommend further measures that can bolster the mental health ecosystem for students after speaking to all stakeholders, including students, faculty, and other staff. Maitra said that currently, online counselling is available 24x7, while in-person counselling facilities on campus are available only from 10 am to 6 pm every day. The authorities are now planning to introduce round-the-clock in-person counselling facilities. 'Many students have said that since classes often continue till 6 pm and sometimes beyond. So, we have decided to extend this till 8 pm. And from 8 pm to 10 am we have planned to introduce a facility where a counsellor will be made available on-call for students,' said Maitra. The authorities also plan to introduce a second platform for online counselling with a different set of therapists. 'In case a student is not be satisfied with the existing list of therapists in the current counselling platform, there is no other choice. The second platform will give students a choice to talk to a completely different batch of counsellors with whom he may feel free,' Maitra explained. Also, a 'counselling calendar' will be introduced in line with the academic calendar from the next semester. 'The calendar will mention specific dates on which counselling sessions will be held and which halls so that they may remain present there is needed. This calendar will be given to them at the start of the session,' said Maitra. On May 4, an IIT staff member informed the police that a woman from Delhi had called the campus office to alert them regarding the deceased, a resident of Bihar. The student had apparently spoken to the caller over the phone shortly before dying by suicide. The deceased's brother had then written to the IIT Kharagpur director seeking a probe. Two more students have died by suicide on the campus, including a fourth-year student on April 20 and a third-year undergraduate student who was found dead in his hostel room on January 12. Following the April 20 incident, IIT Kharagpur authorities had introduced barcodes on every hostel room door. Students can scan the code to seek help from on-campus counsellors. 'If a student is distressed or for any kind of emergency, he will just have to scan the QR codes printed on stickers on his mobile and to get important numbers of IIT,' he said. According to data compiled by the Global IIT alumni support group, a network of over 1,000 IIT alumni, IIT Kharagpur and IIT Chennai saw nine deaths by suicide each in five years, the highest among all the IITs in India. 'IIT Delhi recorded seven deaths and IIT Kanpur registered six deaths during the same period,' said Dheeraj Singh, an IIT Kanpur alumnus, who founded the support group in 2023 after three SC/ST students died by suicide in two IITs across India.
