According to the Union minister Faggan Singh Kulaste, the Indian government is working on Production Linked Incentive (PLI) scheme 2.0 as well as looking at ways to ensure adequate raw material supply for the steel industry in 2024. The consumption of finished steel rose 14% to 86.97 MT on yearly basis during the same period, as per data from the steel ministry. India has a goal of having an installed steel manufacturing capacity of 300 MT by 2030. The Minister of State (MoS) for Steel also stated that the government will ensure raw material supply for the steel sector and the focus will also be on promoting the use of scrap.