Indian alloy steel producers aim to reduce import dependence
Time:Thu, 16 Jan 2025 09:34:47 +0800
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India's alloy steel production capacity stands at 7.5 million tons, with major producers including Jayaswal Neco Industries Ltd., Tata Steel Ltd., and JSW Group. Indian alloy steel manufacturers aim to reduce import dependence while meeting the increasing domestic demand.
The automotive sector primarily sources steel domestically, driven by the Make in India initiative, with Maruti Suzuki procuring 95% of its steel from local suppliers.
Additionally, the infrastructure sector has also contributed to the rising demand for special steel. Indian manufacturers are adopting advanced manufacturing technologies to meet these demands and reduce reliance on imports.
Some market participants indicated that the Indian industry is actively implementing global sustainable development goals by investing in green steel technologies to reduce carbon emissions and enhance supply chain resilience.
