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A parliamentary panel has met leading steel producers to push import substitution of high-value steel products that are critical for sectors such as transformers, power equipment and automobiles. The meeting, held in Mumbai, is part of a broader drive to reduce dependence on overseas suppliers and build domestic capabilities in specialised steels.
Senior officials from companies including JSW Steel, Tata Steel and others were invited to outline current gaps in local production and discuss a roadmap for manufacturing grades that are still largely imported, such as certain electrical steels and cold-rolled grain-oriented (CRGO) material. These products are essential for high-efficiency transformers, motors and advanced automotive components.
The panel is understood to have sought industry inputs on technology upgrades, investment requirements and policy support needed to make domestic production viable. Discussions also touched on quality standards, potential scale of demand and ways to leverage existing schemes, including incentives for specialty steel.
The exercise aligns with India’s wider push for self-reliance in critical manufacturing inputs. If successfully implemented, the import-substitution plan could lower the trade deficit on high-value steel products, deepen domestic value addition and strengthen supply security for core infrastructure and industrial segments.
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