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Ministry of Steel launches PLI Scheme 1.1 for specialty steel to boost domestic production
Jan-07-2025

Ministry of Steel has launched the second round of Production Linked Incentive (PLI) scheme for Specialty Steel, termed as PLI Scheme 1.1 on January 6, 2025, 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 6 to January 31, 2025. The scheme will operate within the funds originally allocated for the scheme, i.e., Rs 6,322 crore.

PLI Scheme 1.1 covers five product categories in line with the existing PLI Scheme, namely Coated / Plated Steel Products, High Strength / Wear resistant Steel, Specialty Rails, Alloy Steel Products & Steel wires and Electrical Steel. These products have a wide range of application, from white goods to transformers to Automobiles and other niche sectors. 

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.


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