New Delhi, Sept. 11 -- India is taking major steps to produce specialised steels domestically to power the growth of its automotive industry, according toH. D. Kumaraswamy, Union Minister of Steel.
Speaking at aSociety 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 inc...
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