Ministry of Steel signs 57 MoUs’ with 27 companies under PLI schemes for specialty Steel

Ministry of Steel signs 57 MoUs’ with 27 companies under PLI schemes for specialty Steel

Daily Current Affairs / Ministry of Steel signs 57 MoUs’ with 27 companies under PLI schemes for specialty Steel

Change Language English Hindi

Category : Business and economics Published on: March 23 2023

Share on facebook

The Ministry of Steel has signed 57 MoUs’ with 27 companies for specialty steel under the Production Linked Incentive (PLI) Scheme.
Under the PLI scheme, the Government has approved Rs. 6322 crores to give a new impetus to the Steel sector.
The government has allocated Rs 6,322 crores to boost the steel sector and generate an investment of about Rs 30,000 crores.
The Indian Steel Industry has been on a growth trajectory for the last few years and is currently the second-largest producer globally.
Steel is also one of the sectors driving the much-needed private investment in the country.
The PLI scheme is aimed at encouraging domestic as well as foreign companies to manufacture specialty steels needed for high-end applications.

Recent Post's

IIM Ahmedabad inaugurated its first international campus in Dubai, marking a historic step in global education expansion.
Read More....
Former PM Manmohan Singh was posthumously awarded the PV Narasimha Rao Memorial Award for his transformative role in India’s economy.
Read More....
India voted in favour of the UNGA resolution endorsing the two-state solution for a peaceful settlement of the Palestine issue.
Read More....
The Indian Army adopted its indigenously developed SAMBHAV system for secure military communications during Operation Sindoor.
Read More....
India extended the Fast Track Immigration program to 13 airports, offering faster clearance to citizens and OCI cardholders.
Read More....
The Indian Army showcased drone integration for surveillance, reconnaissance, and precision strikes during ‘Exercise Siyom Prahar’.
Read More....
PM Modi launched the Gyan Bharatam portal to digitize and preserve India’s one crore manuscripts for global access.
Read More....
India reached 250 GW non-fossil fuel power capacity and aims to double it to 500 GW by 2030, promoting clean energy access.
Read More....
Former Chief Justice Sushila Karki was sworn in as Nepal’s first woman Prime Minister, heading the interim government until March 2026 elections.
Read More....
Purple Fest 2025 at Amity University highlighted inclusion and empowerment through cultural, sports, and entrepreneurship activities.
Read More....