Government Expedites Specialty Steel Production with PLI Scheme

The Production Linked Incentive (PLI) Scheme for specialty steel is set to boost the sector with Rs. 27,106 crore investments. The government has launched a second round, inviting wider participation via a new web portal and flexible investment rules. Rs. 18,848 crore invested up to December 2024.

The Indian government's Production Linked Incentive (PLI) Scheme for specialty steel aims to drive investments and enhance domestic production of value-added steel. Parliament has been informed that companies committed Rs. 27,106 crore, achieving an investment of Rs. 18,848 crore by December 2024.

Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma, highlighted in Parliament that the sector operates in a deregulated environment, where investment and production decisions are made based on the industry's techno-commercial considerations.

The second round of the PLI scheme for specialty steel was unveiled on January 6, 2025, to further extend support within the allocated budget. Efforts for broader engagement include launching a dedicated web portal and easing participation rules, allowing companies to invest 50% in augmenting existing facilities, promoting inclusivity across all company sizes.