Production Linked Incentive Scheme Discussed For Steel Sector

Government has approved inclusion of ‘Specialty Steel’ under the Production Linked Incentive (PLI) Scheme with a 5-year financial outlay of Rs 6322 Cr to promote the manufacturing of 'Specialty Steel' within the country by attracting capital investment, generate employment and promote technology up-gradation in the steel sector. This would help in improving availability of 'Specialty Steel' in the country by making the country Atmanirbhar in meeting the domestic demand. In a deregulated, open market scenario, domestic steel price is determined by market forces of demand and supply, trends in prices of raw materials and is also influenced by global steel trade conditions.

This Information was given by the Union Minister for Steel Shri Dharmendra Pradhan in a written reply in the Rajya Sabha today.