Chauhan says PLI framework is a catalyst for elevating manufacturing capabilities
Mumbai’s Viraj Profiles Pvt Ltd has committed an investment of Rs.280 crore through a Memorandum of Understanding (MoU) signed with the Ministry of Steel under the Government’s Production Linked Incentive (PLI) framework, taking a significant step toward strengthening India’s capabilities in speciality stainless steel manufacturing. The company’s investment commitment is part of this initiative.
Directed toward enhancing technological capabilities, scaling value-added production, and deepening domestic manufacturing strength, this investment by Viraj Profiles will be another milestone in the company’s commitment to making India a global stainless steel hub.
The PLI framework is designed to accelerate the development of advanced steel manufacturing in India while reinforcing the country’s position within global supply chains, Viraj Profiles said on 12 Feb.
By participating in this national initiative, Viraj reinforces its long-term strategic focus on innovation-led manufacturing and its commitment to supporting India’s emergence as a globally competitive industrial economy. The move aligns with broader efforts to build resilient manufacturing ecosystems that are equipped to meet evolving global demand.
Viraj Managing Director Rakesh Chauhan said, “The PLI framework is a catalyst for elevating India’s manufacturing capabilities and global competitiveness. We are proud to partner in this national effort to help shape a stronger, innovation-led steel ecosystem.”
Established as a forerunner in stainless steel product manufacturing, Viraj Profiles brings decades of manufacturing expertise and a well-established international presence to this initiative. Through sustained investments and capability expansion, the company continues to play an active role in advancing India’s industrial development and supporting the next phase of stainless-steel manufacturing growth. fiinews.com
