The survey sees potential of production linked incentive schemes in supporting domestic players to achieve economies of scale in manufacturing facilities
Budget 2023-24: The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components
The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country
These suggestions will prepare India adequately to meet the challenging global economic environment, it said
JSPL is one of the qualifiers of the government's production-linked incentive (PLI) scheme which aims to increase the output of value-added steel using new age technologies in the domestic steel sector
PLI (production linked incentive) benefits are also being considered for toys, some chemicals and shipping containers.
PLI scheme aims to give companies incentives on incremental sales from products manufactured in domestic units
Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action
So far, the scheme has seen maximum response from the electronics, auto components, and pharma sectors, according to Emkay Investment Managers
Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for specialty steel. It...