10/23/2021 | Press release | Distributed by Public on 10/22/2021 23:07
The Ministry of Steel is organizing a daylong Seminar on the Production Linked Incentive (PLI) Scheme for Specialty Steel on October 25, 2021 (Monday) at Dr. Ambedkar International Centre, New Delhi. Union Minister of Steel Shri Ram Chandra Prasad Singh, and Minister of State for Steel, Shri Faggan Singh Kulaste will be addressing the inaugural session. Shri Amitabh Kant, CEO, NITI Aayog and senior government dignitaries will also participate in the Seminar. The key objective of the seminar is to provide a platform to all interested stakeholders for brainstorming and providing additional on the scheme.
The Union Government has approved a Production-Linked Incentive (PLI) Scheme for Specialty Steel to be implemented over FY 2023-24 to FY 2029-30 with a budgetary outlay of ₹ 6,322 crore. The PLI scheme is aimed at boosting domestic production of 'Specialty Steel' by attracting significant investment. The Scheme shall be applicable for five (05) indicative product categories, viz, Coated/Plated Steel Products, High Strength/Wear Resistant Steel, Specialty Rails, Alloy Steel Products and Steel Wires and Electrical Steel. Keeping in view the goal of "Atmanirbhar Bharat", the PLI scheme is one step towards attracting potential investors and to entice the existing companies to add capacities and bring in newer technologies into the country. A detailed notification and the guidelines have been published on the website of Ministry of Steel.
Technical sessions have been planned to have detailed discussions on the scheme with the industry stakeholders. Seminar will also witness participation from policymakers, bureaucrats, steel PSUs, integrated and secondary steel producers, potential investors, steel associations, among others.