Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Indian government plans to set up a steel cluster spanning across 1,000 acres near Vishakhapatnam, Andhra Pradesh, according to media reports. Early this week, the state’s industrial development board, along with other state government bodies, held talks in New Delhi seeking investment under the Indian government’s Product-Based Subsidies (PLI) scheme.


Last year, the Ministry of Steel launched a scheme titled Purvodya to accelerate development through establishment of integrated steel hubs like in China and South Korea. 


The project in Andhra Pradesh would be under this scheme. The government believes India has the potential to add 75pc to its existing steel capacity. 

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