In an interview to PTI, Kulaste, the minister of state for steel, said more initiatives for the sector will be taken in 2023.

Last year, the government introduced the production-linked incentive scheme for specialty steel to enhance the production of the alloy.

Special grade steel is used in various sectors, including power, shipping, railways and auto. The demand for this steel is being met through imports.

“Our focus will also be on taking measures to support industry besides finding new markets as the production of steel continues to grow in the country,” he said.

Ensuring the raw material security for steel production will be a key focus area for the government as the country is mostly dependent on import of raw materials like coking coal.