India, May 5 -- The Government of India has issued a release:
India's steel sector is a key "sunrise sector" with strong and steady growth. It became the world's second-largest steel producer in 2018 and has retained this position. At the same time, steel consumption has more than doubled over the past 12 years. As demand increased, exports rose while imports declined, improving self-reliance. To support this growth, the government ensured raw material availability and reduced production costs. It also improved access to global markets for Indian steel producers. Under the PLI scheme, Rs.23,022 crore investment supported specialty steel production and job creation. This resulted in 2.4 million tonnes of output and over 13,000 new jobs. Ind...