Toyota Kirloskar Motor reducing dependence on imported steel

Toyota Kirloskar Motor is gradually bringing down its dependence on imported steel following its tie-ups with Tata Steel and JSW even as the government is nudging the automakers to source them from domestic manufacturers. “We have an ongoing programme with Tata Steel and JSW to gradually localise all the steel we import now,” said Toyota Kirloskar Vice-Chairman ShekarViswanathan. The government has been pushing car manufacturers to source raw material such as steel from local producers. Last year, the Steel Ministry had announced strict import norms for high-grade steel products sourced by local car-makers from Japan and South Korea. It is likely that the government may allow certain high grade steel for the auto manufacturers to be imported for some more period of time though it is learnt to be keen on setting a deadline for stopping the import for all of them.