Recently the union cabinet has approved production linked incentive scheme for speciality steel and the Confederation of Indian Industry (CII) has welcomed it. TV Narendren, President, CII said the decision will drive global competitiveness of Indian manufacturers besides boosting investment in high grade steel sector.
Chandrajit Banerjee, DG, CII said the initiative will lend strength to the entire value chain in steel sector where India enjoys a global competitive edge. Seshagiri Rao, Chairman, CII Steel Committee said, the initiative will accelerate investment in technology and R&D. He added that it will also strengthen manufacturing in the country.