Union Cabinet approved Production-Linked Incentive Scheme for Specialty Steel which was notified on 29th July 2021.
- The benefit of this scheme will accrue to both big players i.e. integrated steel plants and to the smaller players (secondary steel players)
- Specialty steel is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel which can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc.
The five categories of specialty steel which have been chosen in the PLI Scheme are:
- Coated/Plated Steel Products
- High Strength/Wear resistant Steel
- Specialty Rails
- Alloy Steel Products and Steel wires
- Electrical Steel
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