Ministry of Steel in India has reviewed the PLI 1.0 plan for the steel sector, and it has been reported that approximately one-third of the proposed investments have been declared.
This plan aims to attract investments exceeding ₹30,000 crore and create around 55,000 job opportunities. The ministry is closely monitoring all investments, addressing issues such as environmental approvals and market conditions.
A significant focus to the plan revolves around coated steel, and the introduction of this type of steel into the market is expected in the first quarter of the fiscal year 2025. Additionally, the Ministry is reaching out to companies that initially did not sign PLI 1.0 contracts, attempting to persuade them to participate in the program.
Engaging discussions with these companies, the Ministry is addressing their concerns and working towards ensuring the overall success of the plan.
Production-Linked Incentive (PLI) Program for Special Steels in India.
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