India is intensifying efforts to produce high-grade special steel to reduce the country’s dependence on imports, Steel Minister H. D. Kumaraswamy said on Friday, September 12. For years, India has relied on imported high-grade special steel, which is critical not only for the automotive sector but also for defense and other strategic industries. With mega infrastructure projects being rolled out nationwide, the demand for high-grade special steel is rising rapidly, he noted.
$3.5 billion investment under PLI scheme
Under the Production Linked Incentive (PLI) scheme, India has already attracted around $3.5 billion in investment aimed at creating new special steelmaking capacity. The PLI scheme provides fiscal incentives to investors who expand capacity in producing high-grade special steel.
“The steel industry is now focused on developing specialized steel grades required for specific auto components and parts. This will ensure that India’s automobile sector does not have to depend on imports to meet its growing need for high-grade special steel,” the minister stated.
Collaboration for innovation and sustainability
Kumaraswamy emphasized that while the government can create enabling policies, the real innovation will come from industry players, research institutions, and startups.
“Our ministry is working closely with automakers, technology providers, and energy companies to ensure India not only meets its domestic sustainability goals but also emerges as a global exporter of sustainable mobility solutions,” he added.
