Equity Boost for Visakhapatnam Steel Plant: A Step Toward Aatmanirbhar Bharat

Prime Minister Narendra Modi announced a significant equity support of more than Rs 10,000 crore for Visakhapatnam Steel Plant, emphasizing its crucial role in the vision of a self-reliant India. This decision underscores the strategic importance of the steel sector in India's economic framework.

Prime Minister Narendra Modi announced a significant financial support move on Friday, allocating more than Rs 10,000 crore in equity for the Visakhapatnam Steel Plant. This step highlights the steel sector's pivotal role in achieving the goal of 'Aatmanirbhar Bharat' or a self-reliant India.

The Visakhapatnam Steel Plant holds a significant place in the hearts of many in Andhra Pradesh, Modi remarked on the social platform X. He reiterated the plant's strategic importance in India's economic landscape.

In a recent Cabinet meeting, the decision to provide substantial equity support aimed to bolster the steel industry, highlighting its strategic significance in the broader push toward national self-sufficiency.

(With inputs from agencies.)