Union Minister of Steel and Heavy Industries has launched the second round of PLI scheme for Specialty Steel, termed as PLI Scheme 1.1 on January 6th, 2025. PLI Scheme for specialty steel has brought the issue of developing self-reliance in production of specialty steel to the forefront. Country shall benefit from reduction in imports of specialty steel, achieving ‘Atmanirbharta’ through capacity creation, ensuring investments leading to job creation and moving up the value chain in steel business.
Ministry of Steel has come out with PLI scheme 1.1 for specialty Steel for five product categories which is the same as the existing PLI Scheme to enable further participation as industry participants requested the ministry for relaxation. ‘PLI Scheme 1.1’ will remain open from January 6th to January 31st, 2025.
