Specialty steel companies committed investment worth Rs 27,106 crore under PLI

Specialty alloy companies person committed to an concern worthy Rs 27,106 crore truthful far, and of which Rs 18,848 crore has been achieved till December, 2024, MoS Steel Bhupathiraju Srinivasa Varma informed Rajya Sabha successful a written reply.

The accumulation of specialty alloy up to December, 2024 is 1.258 cardinal tonnes, the curate apprised the Parliament.

Production Linked Incentive(PLI) Scheme for specialty alloy was launched with the nonsubjective of attracting concern to boost the accumulation of value-added alloy successful the country.

Steel is simply a deregulated assemblage and decisions specified arsenic investment, accumulation are based connected techno-commercial considerations of the industry.

PLI Scheme for specialty alloy has brought the contented of processing self-reliance successful accumulation of specialty alloy to the forefront. Country shall payment from simplification successful imports of specialty steel, achieving 'Atmanirbharta' done capableness creation, ensuring investments starring to occupation instauration and moving up the worth concatenation successful alloy business.

As portion of its Atmanirbhar and Make successful India plan, the authorities launched accumulation inducement (PLI) schemes successful 14 sectors successful 2020, to marque Indian manufacturers globally competitive, pull investments, heighten exports, integrate India into the planetary proviso concatenation and trim dependency connected imports.