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23/10/2021 11:46am

Ministry to host PLI scheme seminar for speciality Steel on 25 Oct

image Ministry to host PLI scheme seminar for speciality Steel on 25 Oct

New Delhi, 23 Oct (KNN) 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 in New Delhi.

Union Minister of Steel Ram Chandra Prasad Singh, and Minister of State for Steel, Faggan Singh Kulaste will be addressing the inaugural session. Amitabh Kant, CEO, NITI Aayog and senior government officials 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.

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.

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 INR 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.

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