The Global Trade Research Initiative (GTRI) has said that shortage of Cold-Rolled Grain-Oriented (CRGO) steel used for making transformers and electric motors could impact India's ambitious power sector expansion plans. It said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers. It also said with domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports.
GTRI said the immediate cause of the CRGO steel shortage is import uncertainty caused by the delayed license renewals by the Bureau of Indian Standards (BIS) for many foreign suppliers from Japan, South Korea and China. Many of the licenses are set to expire soon, causing shortages and uncertainty in the power sector. It added that foreign suppliers require BIS certification under a Quality Control Order, which ensures quality but restricts options to a few approved grades and vendors. The entire BIS process needs an urgent review by independent auditors.
In the long term, India must prioritise local production, as CRGO is now considered a strategic material, and supply may remain limited. Without action, this shortage could jeopardise India's ambitious energy goals. CRGO's grain orientation reduces energy loss, making it essential for transformer cores, which are central to India's power distribution network. In FY 2024, India, one of the largest consumers of CRGO steel, required 400,000 tonnes. With only 50,000 tonnes produced domestically, it had to import 239.2 thousand tonnes from countries like China, Japan, Russia and South Korea. After exporting 11.4 thousand tonnes, only 277.8 thousand tonnes were available for local use, leaving a shortfall of 122.2 thousand tonnes, or 30.6 per cent of total demand.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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