PLI Scheme to Boost Steel Production

Detailed guidelines for the Production-Linked Incentive (PLI) scheme, covering 5 broad product categories of specialty steel with an outlay of ₹6,322 crores to be released over 5 years, have been notified on 20^th October, 2021. The scheme envisages production-linked incentive to companies registered under the Companies Act, 2013, which qualify through the application process given in the guidelines and achieve committed incremental production prescribed for each product sub-category and make minimum prescribed investment in creating new capacity for manufacturing the applied product sub-category. Ministry organized a seminar on the scheme on 25^th October, 2021 in which all major domestic steel companies including Steel Authority of India Limited (SAIL) participated. Decisions regarding investment are taken by various companies including SAIL on commercial considerations and market dynamics. Various arrangements have been made for inviting applications from the interested parties.

This information was given by the Union Minister of Steel Ram Chandra Prasad Singh in a written reply in the Lok Sabha on 15 December 2021.