Mumbai, May 1 -- The All India Induction Furnace Association and the Sustainable Steel Manufacturers Association have formalised a memorandum of understanding (MoU) with IIT Bombay, aimed at strengthening recycling through electric furnaces to simultaneously achieve production targets and sustainability goals.

The partnership includes significant representation from Marathwada's Jalna region, where numerous association members operate facilities.

According to Association President Yogesh Mandhani, the collaboration results from two years of preparatory work, during which IIT teams conducted multiple industrial visits to comprehensively understand production processes, challenges, and potential opportunities.

"Under the MoU framework, m...