Odisha government announces subsidy scheme to boost stainless steel production
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Update time : 2023-09-20 15:17:13
The Odisha government launched a special investment scheme to raise stainless steel production, offering 20% capital subsidy, electricity duty exemption, land allocation, and a 100% reimbursement of Employee State Insurance (ESI) and Employee Provident Fund (EPF) contributions, for a period of up to five years.
This incentive is aimed to stimulate growth and innovation within the stainless steel industry in the region. Hemant Sharma, Principal Secretary at the Government of Odisha, said that Odisha is making major contributions to the stainless steel and mineral industries.
