The Association of Indian ForgingIndustry (AIFI), the apex body representing the Indian forging sector, hassigned a Memorandum of Understanding (MoU) with the Bureau of Energy Efficiency(BEE), Ministry of Power, Government of India to promote sustainablemanufacturing practices within the forging industry under the Assistance forDeployment of Energy Efficient Technologies in Industrial Establishments(ADEETIE) scheme. This MoU was signed in the presence of the Hon'ble UnionMinister of Power and Housing and Urban Affairs, Shri Manohar Lal.

The ADEETIE scheme, launched bythe Ministry of Power and implemented by BEE, is aimed at enabling MSMEs across14 energy-intensive sectors, including forging, to adopt best-in-classenergy-efficient technologies. With a comprehensive approach, the scheme offersinterest subvention on technology adoption loans, handholding support forinvestment-grade energy audits, guidance on project implementation, andpost-deployment monitoring. It also includes the establishment of a dedicatedproject management unit and a nodal banking partner to streamline execution.

With a total budgetary outlay of INR1,000-crore,the scheme will support over INR9,000-crore in anticipated investments,including INR6,750-crore in prospective MSME lending. Forging units willbenefit from interest subvention rates of 5.0 per cent for micro and smallenterprises and 3.0 per cent for medium enterprises, helping them overcomefinancial barriers to adopting energy-efficient solutions.