ThyssenKrupp (TKES) is a large German conglomerate operating in components technology, elevator technology, industrial solutions, materials services and steel. TKES is one of the largest manufacturers of cold-rolled grain-oriented (CRGO) steel globally and one of its only manufacturers in India.
Invest India Support
Invest India has been working with ThyssenKrupp Electrical Steel as part of the Indo-German Fast Track Mechanism. ThyssenKrupp was interested to invest in India to produce high-quality CRGO electrical steel.
Invest India worked with the Ministry of Steel and the Ministry of Finance to reduce the import duty of the raw materials for the production of this particular type of steel. ThyssenKrupp recently inaugurated their new plant in Nashik, Maharashtra.