The Steel Ministry’s PLI received a pledge of 27,106 crore, creating 14,760 direct jobs and producing 7.90 million tonnes of ‘Speciality Steel’.

Shri H.D. Kumaraswamy, Union Minister of Steel and Heavy Industries, introduces ‘PLI scheme 1.1’ for the steel sector and invites applications, at an event to be held at Hall no 1, Vigyan Bhavan, Maulana Azad Road in New Delhi.

The notion of Production-Linked Incentives (PLI) emerged during the 2020 global lockdowns, emphasising the importance of increasing domestic manufacturing. Initially introduced for three sectors, the PLI plan was expanded to include steel in November 2020.

The Steel Ministry’s PLI has received a promise to invest 27,106 crore, create 14,760 jobs, and produce 7.90 million tonnes of ‘Speciality Steel’ under the initiative. As of November 2024, firms have invested ₹18,300 crore and created around 8,660 jobs. The Ministry of Steel has been in constant contact with the participating enterprises, and based on feedback, it was determined that there was an opportunity to re-publicise the initiative in order to increase participation.