Team News Riveting
New Delhi, February 10
Government has approved inclusion of ‘Specialty Steel’ under the Production Linked Incentive (PLI) Scheme with a 5-year financial outlay of Rs 6322 crore.
The move is aimed 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.
Union Minister for Steel Dharmendra Pradhan in a written reply in the Rajya Sabha today said that the inclusion 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.
