India activates efforts to produce specialized automotive steel to reduce the dependence of the country on imports, said Minister of Steel H. D. Kumararavami on Friday, September 12. For many years, India relied on the import of high -quality steel, which is crucial not only for the automobile sector, but also for defense and other strategic industries. He noted that with the deployment of mega infrastructure projects throughout the country, the demand for high -quality and specialized steel is growing rapidly.
$ 3.5 billion investments according to PLI
in the framework of the production stimulation scheme (PLI) India has already attracted about $ 3.5 billion of investments aimed at Creation of new special steel -melting capacities. The PLI scheme provides fiscal incentives for investors who expand the possibilities for the production of high -quality and special steel.
“The steel industry is currently concentrated on the development of specialized steel grades necessary for specific auto components and details. This will allow the automobile sector of India to not depend on imports to satisfy the growing need for high-quality steel, ”the minister said.
Cooperation in the field of innovation and sustainable development
kumararavami emphasized that although the government can create a stimulating policy, real innovations will be based industry players, research institutes and startups.
“Our Ministry is working closely with automakers, technology suppliers and energy companies, so that India not only corresponds to
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