JSW Steel and Japan's JFE Steel Corporation have announced their acquisition of a 100% stake in Thyssenkrupp Electrical Steel India Private Ltd for ₹4,051.4 crore. This transaction, approved by JSW's Board of Directors, will be executed through a 50:50 joint venture and includes the transfer of associated technology. Thyssenkrupp's sale is part of a strategic move to enhance competitiveness in India, where it has struggled with high raw material costs. The acquisition will enable JSW and JFE to establish a manufacturing base in Nashik, aligning with their goal to expand in the growing electrical steel market.