The Centre has inked agreements with 26 companies for 54 applications under the Production Linked Incentive (PLI) Scheme for specialty steel.
The move will lead to an investment of Rs 30,000 crore, a capacity addition of 26 million tonne and employment generation potential of about 25,000 people.
Zinc is consumed in galvanising, structural, wires, cables and trains, etc but there are new markets which represent opportunities such as renewable energy, rural electrification, galvanising rebars.
The top five steel companies namely, Tata Steel, JSW Steel, JSPL, AMNS India and SAIL dominate the list of qualifiers under the PLI Scheme for specialty steel.
Apart from this, companies such as Gallant Metalliks, Kalyani Steels, Shyam Metalics Flat Products and Sunflag Iron and Steel have also been selected under the PLI Scheme.
In July 2021, the Union Cabinet approved Rs 6,322 crore PLI Scheme to boost the production of speciality steel in the country.