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Jyortiraditya Scindia: The government intends to adopt PLI 2.0 for specialty steel

The Indian Government is planning to introduce a new Production-Linked Incentive (PLI) scheme 2.0 to promote the production of specialty steel in the country. The new scheme will be led by the Ministry of Steel, and will be headed by Union Minister Jyotiraditya Scindia.

The new PLI scheme 2.0 will focus on the production of high-end steel products, such as stainless steel and alloy steel. The government hopes that this scheme will help India become a global leader in the production of specialty steel and reduce its dependence on imports.

The scheme will provide incentives to companies that manufacture high-end steel products in India. These incentives will be in the form of subsidies and tax breaks. The government is also planning to set up a dedicated fund to support the research and development of specialty steel products.

The government is also planning to provide infrastructure and other support to the companies that participate in the new PLI scheme. This will include setting up of special steel parks, providing access to finance and providing technical and marketing support.