Ministry of Steel has issued a Response to media report on slow progress of investments in Production Linked Incentive Scheme for Specialty Steel in India. The Ministry of Steel, along with other relevant government departments, have been proactively engaging with the PLI beneficiaries to resolve issues faced by companies and facilitate them to meet their commitments under PLI. Measures have been taken to expedite clearances for projects, issue standard operating procedures for Indian visa for experts, and to address the concerns of the participating companies by continuous engagement with the stakeholders.
In view of the above and the significant growth of the economy, especially infrastructure, the demand for specialty steel would continue to show strong acceleration and PLI MoU holders would make up for the shortfall in investment.
