India has approved inclusion of specialty steel under the government’s Production Linked Incentive (PLI) Scheme. It has announced a five-year financial outlay of Rs63.2bn ($863mn) to promote the manufacturing of specialty steel within the country by attracting capital investment and promote technology up-gradation in the steel sector.
This was informed by Union Minister for Steel Dharmendra Pradhan in the Parliament.
Pradhan noted that would help in improving availability of specialty steel in the country. The minister had also informed that India’s steel consumption in December 2020 had exceeded output by 3pc.