Jindal Steel & Power (JSP) has signed a Memorandum of Understanding (MoU) with the Indian Coast Guard and has entered into the defence material market for shipbuilding and missile manufacturing.

The collaboration aims to enhance indigenous content in shipbuilding by supplying indigenous marine-grade steel, which is crucial for the nation's maritime security.

This move aligns with the Ministry of Defence's initiative to reduce dependence on imports in defence manufacturing.

Previously, Steel Authority of India Limited (SAIL) supplied about 30,000 tonnes of 'DMR-grade' specialty steel for the construction of India's first indigenously built aircraft carrier, INS Vikrant.

To ensure timely delivery and quality control, Jindal has designated specific plants for manufacturing marine-grade steel, with the Indian Coast Guard overseeing the quality, grades, and dimensions of the products.