Govt to launch another round of PLI scheme for steel sector on Monday
production-linked incentive scheme for the steel sector on Monday. The 'PLI scheme 1.1' will be launched by the steel minister H D Kumaraswamy.
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«Union Minister of Steel and Heavy Industries...will launch 'PLI scheme 1.1' for the steel industry and call for applications...on January 6,» the steel ministry said in a statement.
To encourage domestic production of specialty steel and lower imports by drawing in capital investments, the government had earlier introduced the PLI scheme for specialty steel.
The scheme has attracted investments worth Rs 27,106 crore, envisaging creation of 14,760 direct employment opportunities with an estimated production of 7.90 million tonnes of specialty steel.
As of November 2024, companies have already invested Rs 18,300 crore and generated over 8,660 in employment.
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