India Developing Specialised Steels To Boost Automotive Manufacturing

(MENAFN- KNN India) New Delhi, Sep 11 (KNN) India is taking major steps to produce specialised steels domestically to power the growth of its automotive industry, according to H. D. Kumaraswamy, Union Minister of Steel.

Speaking at a Society of Indian Automobile Manufacturers(SIAM) event, he said that while India's overall steel production is growing steadily, the next phase must focus on high-value, advanced steels tailored for automotive use.

Currently, Indian automakers rely heavily on imported high-strength and special steel grades, which raises production costs and exposes manufacturers to global supply chain risks.

The increasing adoption of electric vehicles (EVs), safety regulations, and the need for lightweight yet durable materials have further increased demand for specialised steels such as high-strength steel, corrosion-resistant steel, and electrical steel.

To meet this demand, the government has launched a Production-Linked Incentive (PLI) scheme worth Rs 18,000 croreto promote the manufacturing of specialty steels in India.

So far, this scheme has attracted investment proposals of over Rs 24.8 lakh crore, aimed at expanding domestic capacity, upgrading steel plants, and developing supporting infrastructure and testing facilities.

Apart from reducing dependence on imports, this initiative is expected to create large-scale employment across manufacturing, supply chains, and quality testing.

The government is also collaborating with technology partners and clean energy companies to ensure that steel production aligns with India's decarbonisation and sustainability goals.

Kumaraswamy emphasised that achieving self-reliance in specialised steels is crucial for India's automotive industry to compete globally.

Strengthening the domestic steel ecosystem will help India emerge as a leading producer and exporter of high-quality automotive-grade steels in the coming years.

(KNN Bureau)

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