PLI scheme for Speciality Steel: Promoting Indian manufacturers to high end of value chain globally
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- By Chetan Kulasri
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- Last Updated on 6 September, 2021
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Krishan Arora, Sachin Sharma & Sahil Gera – [2021] 130 taxmann.com 82 (Article)
The steel sector has been a major contributor to India’s gross domestic product (GDP) making India the second-largest producer of steel in the world. The Government has introduced Production Linked Incentive (PLI) Scheme to provide financial incentives worth INR 6,322 crore. The PLI scheme aims to promote the manufacturing of specialty steel and move India up the steel value chain by being at par with advanced steel making countries. It is expected that the steel production will reach 42 MT by end of 2026-27. In this article, the authors have discussed the structure and objectives of this scheme along with key considerations for the stakeholders.
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