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Explore ways to make Indian minerals, mines sector self-reliant, MoS Kulaste tells industry

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New Delhi | August 25, 2022 11:59:07 AM IST
Faggan Singh Kulaste, Minister of State for Steel and rural Development called upon the industry stakeholders to explore ways and means to make India self-reliant in the minerals and mines sector.

The Minister, while speaking at an event 'Industry Vision 2047 for Minerals and Metals Sector in India' on Wednesday, also laid emphasis on accelerating exports of the precious metals.

The targeted capacity for steel sector for 2030 as well as 2047 which has been pegged at 300 million tonne and 500 million tonne respectively would be achieved with a proper roadmap in place for it, industry body FICCI quoted Secretary in the steel ministry Sanjay Singh as saying.

This, Singh said, would mean that the reserves of iron-ore as estimated would have to be converted into resources as that would be ideal to achieve the desired path.

Meanwhile, the last date for receipt of applications under the Production Linked Incentive (PLI) scheme for specialty steel has been extended up to September 15.

Previously, the deadline for applications was July 31.

The centre had in 2021 approved the PLI scheme for specialty steel to be implemented over 2023-24 and 2029-30 with Budgetary provisions of Rs 6,322 crore.

The objective of the scheme is to promote the manufacturing of such grades of steel within the country and help the sector move up the value chain. (ANI)

 
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