LatestStartup And Fundraising 19 October 2026
India's Secondary Steel Scheme Boosts MSME Energy Savings
India’s secondary steel scheme, announced at the 2026 Renewable Energy Summit, offers MSMEs low‑cost financing for energy‑efficiency upgrades, aiming to slash power bills and spur adoption of greener steel production methods across the sector.
India’s secondary steel scheme targets small and medium steel makers with a two‑pronged approach:
- Financing: Access to low‑interest loans under the Green Investment and Financing for Transformation (GIFT) scheme.
- Energy upgrades: Grants for installing efficient furnaces, waste‑heat recovery and renewable power sources.
The initiative, unveiled at the 2026 Renewable Energy Summit, is expected to cut electricity costs by up to 30 % and help MSMEs meet climate goals while staying competitive. See the original article.
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