BUDGET EXPECTATIONS: STEEL SECTOR

17 Jan 2023 , 12:21 PM

“We hope for an increased allocation for products from the steel sector to be covered under the PLI Scheme giving the industry a much-needed boost. We also hope there is an increased focus by the govt. to scale up the infrastructure sector in the country which will have a positive domino effect for the steel sector. A good budget for National Highways will also translate into a positive for us which will further propel the growth of the sector. The industry is already reeling under a lot of pressure due to the raw material price hike, measures stated above will only help the industry look forward to a healthy growth trajectory for both the industry and the economy. We expect the government to increase import duties on major metals to keep the imports in check.”