Ministry of Steel
Union Minister of Steel and Heavy Industries to launch of PLI scheme 1.1 and opening of application window tomorrow
Steel Ministry’s PLI attracted a commitment in investment of ₹27,106 crore, direct employment of 14,760 and estimated production of 7.90 million tonnes of ‘Specialty Steel’
Posted On: 05 JAN 2025 12:39PM by PIB Delhi
Union Minister of Steel and Heavy Industries Shri H.D. Kumaraswamy will launch ‘PLI scheme 1.1’ for the steel industry and call for applications during an event scheduled to be held at Hall no 1, Vigyan Bhavan, Maulana Azad Road, New Delhi, on 6th January 2025.
The concept of Production-Linked Incentives (PLI) was conceived during the global lockdowns of 2020, emphasizing the need to boost domestic manufacturing. Initially launched for three sectors, the PLI scheme was later extended to include steel in November 2020.
Steel Ministry’s PLI has attracted a commitment in investment of ₹27,106 crore, direct employment of 14,760 and estimated production of 7.90 million tonnes of ‘Specialty Steel’ identified in the scheme. As of November 2024, companies have already invested ₹18,300 crore and generated over 8,660 in employment. Ministry of steel has been interacting regularly with the participating companies and based on feedback, it was felt that there was a scope to notify the scheme again to attract more participation.
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