It Will Result In Rs 30,000 Cr Investment, 50,000 Jobs: Minister Of Steel Jyotiraditya Scindia On PLI Scheme

Union Minister for Steel Jyotiraditya Scindia said that the PLI scheme launched by the Ministry of Steel would result in Rs 30,000 crores of investment and 50,000 new jobs.

New Delhi: Union Minister for Steel Jyotiraditya Scindia on Friday said that work is in progress for PLI 2.0 (Performance Linked Initiative) scheme and the government has done positive work under the PLI scheme launched by the Ministry of Steel. He said that the scheme would result in Rs 30,000 crores of investment and 50,000 new jobs. The minister added that under th scheme, the government signed 57 MoUs with 27 companies.

According to ANI, Scindia said, "Under the leadership of PM Modi, the Ministry of Steel inaugurated the PLI scheme, 27 companies came and we have signed 57 MoUs. It will result in Rs 30,000 crores of investment & additional capacity of 25 million tons per annum."

"This scheme & MoU will bring in over 50,000 new jobs and catapult India into the value added process of steel production," the minister added, as quoted by ANI.

Talking about Indian Steel industry, Scindia said, "India will achieve self-reliance in the Steel industry as well. We are moving forward to PLI 2.0, work has started, and India’s steel sector is resilient. Underpinning growth in any economy is through infrastructure."