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India's steel sector is projected to significantly ramp up its technological investments, with estimates suggesting that expenditures could reach $2.7 billion by 2030. This anticipated investment surge reflects the industry's focus on modernisation and efficiency improvements to remain competitive globally.
The report highlights that these investments will be directed towards adopting advanced technologies, including automation, digitalisation, and sustainable practices. As the steel industry faces increasing pressure to reduce its carbon footprint and improve operational efficiency, these technological upgrades are crucial for meeting domestic and international standards.
Infusing capital into technology is expected to drive innovation, enhance productivity, and support the sector’s shift towards greener manufacturing processes. By investing in cutting-edge technology, India's steel industry aims to boost its global competitiveness and contribute to its broader industrial modernisation and sustainability goals.
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