Guidance Tamil Nadu sets up desk in Vietnam: Industries Minister

State Industries Minister, T.R.B. Rajaa on Monday said Guidance Tamil Nadu, the nodal agency for investment promotion, had set iup a desk in Vietnam. This desk will connect with the Vietnamese industry and promote the capabilities of Tamil Nadu. Soon, we will establish such desks in many other countries, he said in a post on X. Mr. Rajaa was in Hanoi in the country as a part of Tamil Nadu's roadshow.

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The Hindu

2 days ago

• The Hindu

Steel sector expects pain as government gives less than one day to comply with quality order

A new notification by the Ministry of Steel on quality certifications for steel inputs has given industry players less than one business day to comply with it and stands to create huge disruptions and cost escalations for Micro, Small, and Medium Enterprises (MSMEs) in the sector, according to steel industry participants and trade experts. The notification — released on June 13 — extended the Ministry of Steel's Quality Control Order (QCO) on steel and steel products to the inputs that go into the making of these products too. This means that the input and raw materials used to make steel and steel products, including imports, will also have to conform to the relevant standards issued by Bureau of Indian Standards. Indian steel, aluminium exports to take a hit with as Trump mulls doubling tariff to 50% For example, if a company in Malaysia supplies steel slabs to a Vietnamese company, which in turn processes them into sheets and exports those to India, both the Malaysian as well as Vietnamese firms will now need to be BIS-compliant. According to Panckaj N. Umrania, Executive Director at KND Steel, this requirement will not only increase the compliance burden, but will also increase costs for steel importers. 'What will happen in the industry is that a lot of manufacturers will struggle to import now,' Mr. Umrania told The Hindu. 'So, their production will be hampered, their customers will be hampered, delays will occur. So, a lot of disruption, I personally see, is going to happen.' Government imposes 12% safeguard duty on certain steel products for 200 days 'There is also no support available as such from the government,' he added. 'So, you have to run pillar to pillar (to obtain the paperwork). And, of course, there is a lot of cost also in order to get these things done.' He added that, once the Indian importers start asking for documentation and certifications from their sellers abroad, then these sellers will increase the price of their supplies. 'It's a problem for importers, especially those who are importing semi-finished goods,' Pankaj Chaddha, chairman of the Engineering Exports Promotion Council of India said. 'It will impact the MSME importers in a big way.' Apart from the compliance burden itself, the problem with the latest notification is that it has not provided enough time to businesses to comply. According to the notification, it would be effective for all steel imports that have a bill of lading dated on or after June 16, 2025. 'Effectively, Indian importers were not given even one working day — between the order's date being June 13, 2025 (Friday) and announcement date (over mail and SIMS portal) on June 16 (Monday) — to ensure full compliance,' Ajay Srivastava, former Director General of Foreign Trade and founder of the Global Trade Research Initiative (GTRI) said. According to Mr. Umrania, even a month's notice would not have been enough time, since processes related to the steel industry take a long time. 'So, just giving a notification on the 13th and saying that we will start applying the rules and regulations starting from 16th is definitely not enough time,' he said.

Time of India

3 days ago

• Time of India

Rs 160 for hotel room in Vietnam? Indian man's viral booking sparks theories online, user says ‘that's cheaper than a coffee'

An Indian traveller snagged an unbelievable hotel deal in Vietnam, paying just Rs 159.02 for a night at Leaf Hotel Phu Quoc. The rock-bottom price, complete with Wi-Fi and other amenities, has sparked disbelief and speculation online. Experts suggest it could be a revenue management error, intense competition, or OTAs absorbing commission costs. Tired of too many ads? Remove Ads What's the deal? Too good to be true? Tired of too many ads? Remove Ads What could really be going on? An Indian traveller's hotel booking in Vietnam has gone viral, and for good reason, he paid just Rs 159.02 for a night's stay, taxes included. The unbelievable deal has left people on social media both stunned and traveller, who shared his experience on X (formerly Twitter), booked a Superior Double or Twin Room at Leaf Hotel Phu Quoc . The room included free Wi-Fi, parking, 24-hour check-in, and even the option of a queen bed, all for less than the price of a priced at Rs 578.24, the room got a massive 75% discount, bringing the base cost down to just Rs 144.56. After adding taxes and fees of Rs 14.46, the final amount came to Rs 159.02. The platform confirmed that the amount would be charged in Vietnamese Dong, around 48,000 VND, and includes people online had questions. Some called it a possible 'revenue management mistake' by the hotel. Others felt it might be part of a fierce pricing war among hotels in Phu Quoc, a popular beach destination with plenty of budget user joked, 'Itne mein toh coffee bhi na mile' (You won't get a coffee for this much). Another said, 'There's a high chance they'll cancel it when you reach the hotel.'Industry insiders chimed in. One pointed out that online travel agencies (OTAs) often eat a part of the cost as commission, in this case, estimated to be around Rs 28.62, meaning the hotel might only get Rs 130, including believe it's simply a case of too much supply and not enough demand, leading to a 'race to the bottom' in hotel the reason, the internet can't stop talking about this oddly cheap room. Whether it was a lucky find or a pricing glitch, it's got everyone dreaming of a budget trip to Vietnam.

Mint

3 days ago

• Mint

Hotel room in Vietnam for just ₹159 per night? Social media post raises eyebrows, netizens say ‘too good to be true'

An Indian traveller has gone viral on social media after revealing that he managed to find a hotel room in Vietnam for only ₹ 159.02 — taxes included. The budget-friendly booking, made at Leaf Hotel Phu Quoc, was shared on X (formerly Twitter), where it quickly drew widespread attention and surprise. The room was a Superior Double or Twin at the hotel, offering amenities such as free Wi-Fi, parking, 24-hour check-in, luggage storage, and a choice between a queen bed or two singles. The room, as per the listing, accommodates up to two adults and measures 18 square metres. What shocked users most was the breakdown of the pricing. The original cost for one night was listed as ₹ 578.24. After a 75% discount, the price dropped to ₹ 144.56, with an additional ₹ 14.46 in taxes and fees — bringing the total to ₹ 159.02. The platform clarified that payment would be collected in local currency — 48,000 Vietnamese Dong — and all VAT was included. Screengrab from the viral post. The post sparked a flood of reactions online. Many were amazed at the affordability, while others speculated on how such a low rate was possible. One user commented, 'Checked myself again and again, Very strange, 159 - 28.62 OTA commission = 130.38 including taxes, which is not possible even to bear Operations cost for room, might be a revenue management mistake or ego issues with other hotels. Time will tell.' Another remarked, 'It's a pay at the property booking high chance tell will refuse to allow check in for this rate.' 'Itne pe to coffee bhi na mile,' joked a user, pointing out how the rate was cheaper than a cup of coffee. Someone else added, 'Too many hotels in Phu Quoc. Hence race to bottom.'