Driving Innovation: India's Pursuit of Self-Reliant High-Grade Steel

India's steel industry aims to develop high-grade steel for automotive parts, reducing reliance on imports. Union Minister H D Kumaraswamy emphasized collaboration with automakers and technology providers to meet domestic goals and boost exports. The PLI Auto Scheme, with a significant investment, supports innovation and job creation.

In a bid to reduce dependency on imported steel, India's steel industry is focusing on producing specialized high-grade steel crucial for automotive parts. This initiative was announced by Union Minister H D Kumaraswamy, who highlighted the country's reliance on imports for such materials, vital for both defense and automotive sectors.

Addressing the Society of Indian Automobile Manufacturers, Kumaraswamy noted that the PLI Auto Scheme has driven significant investment amounting to Rs 29,576 crore. This has facilitated the establishment of new production facilities and creation of numerous jobs within manufacturing, supply chain, and research & development.

The minister assured the auto industry of the steel ministry's support, encouraging stakeholders to innovate and turn India into a leader in sustainable mobility solutions. By collaborating closely with automakers and technology firms, the aim is to achieve domestic sustainability goals and enhance exports in this sector.

(With inputs from agencies.)