Industry looking to develop high-grade steel to cut auto sector's import dependence: Kumaraswamy

New Delhi, Sep 11 (PTI) India's steel industry is looking at developing specialised high-grade steel used in certain automobile parts or components to reduce the sector's dependence on imports, Union Minister H D Kumaraswamy said on Thursday.

India has been dependent on imports for high-grade steel for a long time, which is critical for defence and strategic sectors, besides automotive components. There is a growing demand for high-grade steel due to mega-projects being initiated across the country.

Addressing the annual convention of Society of Indian Automobile Manufacturers (SIAM) here, Kumaraswamy, the minister for steel and heavy industries, said as of March 2025, companies under the PLI auto scheme have already invested Rs 29,576 crore in capital, including setting up new production facilities and operating technology.

The PLI Auto scheme has also created thousands of direct and indirect jobs in manufacturing, supply chain management and R&D, he shared.

"As a minister of steel, I would also like to take this opportunity to assure the Indian auto industry that the steel ministry will provide all necessary support to the auto sector, and would be a stronger enabler of Make In India... the steel industry is looking at developing specialised steel, which is required for certain components or parts in the auto sector, so that this sector need not be dependent on imports to meet their specific high-grade steel requirements," Kumaraswamy said in a video message.

He observed that while the government can create enabling policies, it is the industry, research institutions and startups that will bring innovation to life.

"Our ministry is working closely with automakers, technology providers and energy companies to ensure that India meets its domestic sustainability goals and also becomes a global exporter of sustainable mobility solutions," he said.

The minister urged all stakeholders to think beyond incremental changes, asking them to commit to bold steps, embrace innovation and make India a beacon of sustainable mobility for the world.

In September 2021, the Union Cabinet approved PLI Scheme for Automobile & Auto Components with a budgetary outlay of Rs 25,938 crore. PTI RSN TRB TRB