The Association of Indian Forging Industry (AIFI), the apex body representing India’s forging sector, has signed a memorandum of understanding (MoU) with the Bureau of Energy Efficiency (BEE), Ministry of Power, under the Assistance for Deployment of Energy Efficient Technologies in Industrial Establishments (ADEETIE) scheme.

The MoU was formalised in the presence of Union Minister for Power and Housing & Urban Affairs, Manohar Lal. The ADEETIE scheme aims to accelerate the adoption of energy-efficient technologies across energy-intensive industries, including forging. 

The scheme offers interest subvention—five percent for small and three percent for medium enterprises, alongside handholding support, investment-grade audits, project monitoring, and a dedicated program management unit with a nodal banking partner. Yash Munot, President of AIFI, stated, “This collaboration with the Bureau of Energy Efficiency marks a significant step forward for the Indian forging industry... enabling incentives and technical guidance will empower MSMEs to adopt cutting-edge, energy-efficient technologies.