The federal government is engaged on one other spherical of the PLI scheme for speciality metal because the response for the primary spherical of the initiative didn’t meet expectations, in response to Metal Secretary Sandeep Poundrik.
The highest ministry official made the remarks at CII Metal Summit 2024 within the nationwide capital on Friday.
In his handle, Poundrik mentioned speciality metal continues to be one space the place extra must be achieved. The federal government introduced a PLI to incentivise specialities metal however the offtake was not as anticipated.
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“So we’re bringing one other spherical of PLI in order that we are able to get extra curiosity within the speciality metal enterprise,” he mentioned.
Later talking to PTI, the secretary mentioned the federal government had launched ₹6,400 crore PLI Scheme for speciality metal, out of that solely ₹2,600 crore could possibly be allotted.
Speciality metal is excessive grade-steel utilized in sectors like defence, vehicle, and electrical amongst others.
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