Cupboard approves ₹6,322-crore PLI scheme for specialty metal

The Union Cupboard on Thursday authorised ₹6,322-crore manufacturing linked incentive scheme for specialty metal, a transfer geared toward boosting home manufacturing and exports from the sector, Info and Broadcasting Minister Anurag Thakur mentioned.

He mentioned that incentives price ₹6,322 crore might be offered over 5 years and it could create over 5.25 lakh jobs.

“It would enhance manufacturing and assist in decreasing imports,” he advised reporters.

The scheme will cowl coated/plated metal merchandise, excessive energy/put on resistant metal, specialty rails, alloy metal items, metal wires and electrical metal.

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