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80% of Indian steel producers use ‘Made-in-India’ on products to boost global status
Industry News- Jun 26,24
This rollout began on November 4, 2023, with major players like RINL, JSPL, and TATA Steel Ltd already covering 100% of their product ranges.
In a major push for domestic manufacturing, 80% of Indian steel producers have adopted the ‘Made in India’ label for their products. This initiative, launched by the Ministry of Steel in November 2023, aims to strengthen the national identity of Indian steel and boost its global presence.
Standardized labels featuring the ‘Made in India’ logo will now appear on 80 million tonnes of Indian steel, representing a significant portion of the country's total production (125 million tonnes). Major steel companies like RINL, JSPL, and Tata Steel have already fully adopted the labelling across their product lines. The remaining producers are expected to complete the process by the end of June 2024.
This initiative offers several key benefits:
• Creates a unified brand identity: The label will serve as a recognisable symbol for Indian steel in both domestic and international markets.
• Supports domestic manufacturing: By encouraging local production processes, this initiative aims to strengthen the Indian economy.
• Strengthens global presence: The branding aligns with the ‘Brand India Mission’ and ‘Atmanirbhar Bharat’ vision, promoting Indian steel as a leading global force.
This strategic move is expected to solidify India's position as a major steel producer in the long run. The ‘Made in India’ label will not only enhance brand recognition but also encourage manufacturers to prioritise domestic production.
(Source: Business World)
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