Union Minister Jyotiradtiya Scindia announced that the ministry is considering a new PLI 2.0 for steel. The government, with the ‘Brand India’ label, is looking to strengthen the steel sector in order to boost production that will be required to meet rapidly growing domestic demand and facilitate infrastructure development.
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New Delhi, April 12: The India government is aiming to promote Indian steel products in the domestic and international market. The Centre is gearing up to introduce ‘Brand India’ label for steel products that will be manufactured under strict quality control.
The Union Minister of Steel and Civil Aviation Jyotiraditya Scindia said these products will set new benchmarks for credibility and quality and strengthen domestic manufacturing in line with the vision of Atmanirbhar Bharat.
Upon the announcement of the initiative, Scindia said, “Since August 2022, the ministry of steel, in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT) and QCI (Quality Council of India) has been working on a framework to showcase the strength of the Indian steel industry by leveraging the ‘Made in India’ label on steel products in both domestic and export markets.”
He stated that under the said effort, stakeholder consultations were conducted with leading Indian steel plants to draw a consensus on the scheme criteria and QR code components for the manufacturers. Only products made to the standards of 13 sector-specific metrics formulated by the government and industry would get the Brand India label.
State-owned Steel Authority of India (SAIL) and private sector producer Jindal Stainless Ltd will soon initiate a pilot to manufacture these world-class steel products. Once the pilot is complete, the government proposes to rope in all local manufacturers to join the initiative and start promoting Brand India steel both in domestic and global markets.
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