India receives 75 applications under PLI scheme for specialty steel

NEW DELHI: The government of India has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official.

Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said.

“A significant number of applications have been received. There around 75 applications,” the official said.

However, no proposal has been received from any foreign entity, according to the official.

After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said.

The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel.

The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India.

The move is expected to attract an additional investment of about Rs 40,000 crore and generate 5.25 lakh job opportunities.

Source: Press Trust of India