India is planning to double its steel capacity to 300 million tonnes by 2030-31, the Union Minister, Ram Chandra Prasad Singh said in a written reply in the Rajya Sabha on Monday.
The present annual crude steel capacity is 144 million tonne.
According to Singh, the National Steel Policy, 2017 aims to provide “conducive environment for attaining this objective by providing policy support and guidance to steel producers”.
Nearly 40 per cent of the investment in manufacturing in 2020-21 has been made by steel companies.
The focus is also on increasing the usage of domestically manufactured steel and import substitution with the Production-Linked Incentive (PLI) Scheme for Specialty Steel having an an outlay of ₹6,322 crore, he said.
PLI scheme for speciality steel
The government on Wednesday said it has started inviting applications from investors looking to invest under the production-linked incentive (PLI) scheme for speciality steel.
The Cabinet had on July 22 approved the PLI scheme to boost production of specialty steel. The scheme was notified on October 22, and uploaded on the Ministry of Steel’s websitel
In a December 29 tweet, the Ministry had called for submission of applications under the PLI scheme. Last date of submission for the scheme is March 29.
“@SteelMinIndia calls for Online Registration and Application Submission under the production-linked incentive (PLI) scheme for specialty steel. Start Date: 29-Dec-2021. End Date: 29-Mar-2022,” the ministry said on the micro-blogging site.