PLI 1.1 sees INR 17,000 crore investment commitment in second round with 42 MoUs signed, strengthening India’s Self-Reliance in Steel.

Mar 24, 2025

PLI scheme for speciality steel, termed PLI Scheme 1.1, has drawn an investment of approximately INR 17,000 crore from 25 companies. The 2nd phase of the scheme was launched in January 2025, resulting in the signing of 42 MoUs by 25 companies with the government to manufacture high-quality steel in India. The investments are seen as a significant step towards self-reliance. 

Launched in July 2021, the PLI scheme for specialty steel covers five broad categories and 19 sub-categories. The initiative ensures that only companies registered in India and engaged in end-to-end steel production are eligible for incentives. The scheme has generated strong industry participation, prompting the government to introduce Round 2, allowing more companies to benefit. 

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To encourage investment and boost output, the government is offering incentives ranging from 3-4% based on investment and production targets. In the first round, 44 applications were submitted by 23 companies, with incentives already disbursed for one project.