India: Steel manufacturers demand for an extension in PLI benefits beyond 5 years

• The Indian govt. is setting up the operational details of Production Linked Incentive (PLI) scheme for specialty steel
• Indian Steel Association wants PLI to support the collaboration among integrated steel players and smaller specialty steel players
• Further, the industry has accepted the scheme, however, investment decisions made by members would depend on the details of the scheme and how it fits in with their individual business plans going forward

“ISA, as well as steelmakers have been deliberating with the government and points of concerns have been shared. For instance, a longer gestation time is required for steel mills to realise PLI benefits instead of five years,” Dilip Oommen, President of Indian Steel Association (ISA) and CEO of AM/NS (ArcelorMittal/Nippon Steel) India says.