Government receives 75 domestic applications under Steel PLI Scheme: PTI report

19 Sep 2022 , 09:11 AM

According to a government official quoted by PTI on Sunday, the PLI scheme for specialty steel has received close to 75 applications from domestic players.

The applications reportedly include all of the major steel producers, such as Tata Steel, JSW Steel, JSPL, AMNS India, and SAIL.

Under the PLI program, no foreign entity has submitted a proposal.

After repeated extensions, the government finally set the deadline of September 15 for manufacturers to submit their requests for benefits under the PLI (Production-Linked Incentive) scheme for specialty steel.

To increase the production of specialty steel in India, the Union Cabinet approved an Rs6,322 crore PLI plan in July of last year.

The action is anticipated to bring in an extra Rs40,000 crore worth of investment and create 5.25 lakh job opportunities.

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