Government Unveils Ambitious PLI 2.0 for Steel Sector in 2024
Steel

Government Unveils Ambitious PLI 2.0 for Steel Sector in 2024

The government, led by Union Minister Faggan Kulaste, has unveiled a groundbreaking initiative in the steel sector. Set to roll out in 2024, the Production Linked Incentive (PLI) 2.0 aims to bolster the steel industry's contribution to the nation's economic landscape. This strategic move comes as the demand for steel continues to surge, marking a pivotal moment for both manufacturers and the economy. The scheme focuses on enhancing the steel sector's competitiveness and fostering innovation. Key components of the PLI 2.0 include financial incentives, advanced technology adoption, and sustainable practices. Manufacturers embracing eco-friendly processes are poised to benefit significantly, aligning with the global shift towards sustainable development. The government's commitment to the steel industry's growth is underscored by its proactive approach in designing PLI 2.0. With a vision to position India as a global steel hub, the initiative encourages investments and upgrades in manufacturing capabilities. This, in turn, is expected to generate employment opportunities and stimulate economic development.

The government, led by Union Minister Faggan Kulaste, has unveiled a groundbreaking initiative in the steel sector. Set to roll out in 2024, the Production Linked Incentive (PLI) 2.0 aims to bolster the steel industry's contribution to the nation's economic landscape. This strategic move comes as the demand for steel continues to surge, marking a pivotal moment for both manufacturers and the economy. The scheme focuses on enhancing the steel sector's competitiveness and fostering innovation. Key components of the PLI 2.0 include financial incentives, advanced technology adoption, and sustainable practices. Manufacturers embracing eco-friendly processes are poised to benefit significantly, aligning with the global shift towards sustainable development. The government's commitment to the steel industry's growth is underscored by its proactive approach in designing PLI 2.0. With a vision to position India as a global steel hub, the initiative encourages investments and upgrades in manufacturing capabilities. This, in turn, is expected to generate employment opportunities and stimulate economic development.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?