Steel Ministry to sign MoUs with selected companies under PLI scheme for speciality steel today
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- Union Ministry of Steel will sign MoUs with selected companies under the Production-linked Incentive (PLI )scheme for speciality steel today in New Delhi. As per the official statement, 57 MoUs with 27 companies will be signed during the event.
- Production-Linked Incentive scheme aims to boost domestic manufacturing and cut down import bills by encouraging local companies to set up or expand existing manufacturing units.
- The scheme also incentivizes foreign companies to set up manufacturing units in India.
- The Union Cabinet had approved the PLI scheme for manufacturing Speciality Steel (SS) with a budgetary outlay of 6,322 crore rupees over a period of five years from 2023-24.
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Published date : 17 Mar 2023 07:49PM