Government plans to introduce PLI 2.0 for specialty steel: Scindia
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ANI
Union Steel Minister Jyotiraditya Scindia gave this information during the signing program of ‘Special Steel Memorandum of Understanding (MoU)’ in the national capital on Friday. The companies selected for investment under the scheme worth Rs 6,322 crore participated in the event.
The government plans to launch the second edition of the Production Linked Incentive (PLI) scheme for special steel with an aim to boost production of value added steel in the country. Union Steel Minister Jyotiraditya Scindia gave this information during the signing program of ‘Special Steel Memorandum of Understanding (MoU)’ in the national capital on Friday. The companies selected for investment under the scheme worth Rs 6,322 crore participated in the event.
Scindia told the participants of the first edition of PLI for Special Steel, “Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is just the beginning of a journey. Our Ministry is already considering PLI 2.0.” The Minister further asked the industry stakeholders to share their suggestions and feedback so that the next PLI scheme for specialty steel can be formulated at the earliest.
Minister of State for Steel, Faggan Singh Kulaste said that the scheme has received an overwhelming response from the interested parties and will prove to be a game changer in the industry. The Union Cabinet had approved the PLI scheme in July, 2021 to boost the production of special steel in the country.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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