Ministry of Steel is providing financial assistance to the stakeholders viz. steel industry, CSIR laboratories & academic institutions like IITs, for carrying out research in the iron & steel sector, under the scheme viz. “Promotion of Research & Development in Iron & Steel Sector”. In case of Academic Institutions & National/ Regional Research Laboratories, financial assistance of upto 70% is permissible. Preference is given to collaborative research with R&D project having tie-up with user industry. The thrust areas covered under the scheme include research to develop innovative processes & technologies to address common issues faced by the steel sector such as utilisation of wastes, improving efficiency & productivities, reducing energy consumption & reducing emissions etc. This initiative is expected to promote improvement in the efficiency, productivity of the steel sector and also to address the climate change by reduction in energy consumption & GHG emission.

The details of the fund allocated and fund utilized in R&D projects approved & funded under the scheme by Ministry of Steel during the last three years (FY2021-22, FY2022-23 & FY2023-24) are given below: -

This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

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