Special steel production under PLI schemes to save forex outgo: Faggan Kulaste

New Delhi, Mar 19 (PTI) Domestic production of special steel under PLI schemes for specialty steel will help cut down imports of value-added products and save forex outgo, Union Minister Faggan Singh Kulaste said.

As many as 27 companies have signed 57 agreements with the government under the first edition of the production-linked incentive (PLI 1.0) scheme for specialty steel.

To promote the production of special types of steel in the country and to imbibe the concept of self-reliant India, "Our government launched PLI scheme for Specialty Steel to become Atmanirbhar in specialty steel output and increase its capacity," Kulaste told PTI.