Specialty Steel’ included under the Production Linked Incentive

New Delhi, Feb 11 (KNN) Union Minister for Steel Dharmendra Pradhan has informed Rajya Sabha that government has included 'Specialty Steel’ under the Production Linked Incentive (PLI).

''Government has approved inclusion of ‘Specialty Steel’ under the Production Linked Incentive (PLI) scheme with a 5-year financial outlay of Rs 6322 crore 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,'' Pradhan said in a written reply in the upper house.

''This would help in improving availability of 'Specialty Steel' in the country by making the country Atmanirbhar in meeting the domestic demand,'' he added.

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, he said.