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✅ PLI 1.1 scheme attracts ₹17,000 crore investment in the second round.
✅ 42 MoUs signed, boosting self-reliance in specialty steel.
✅ Scheme to enhance domestic production, reduce imports, and improve competitiveness.
India’s Production-Linked Incentive (PLI) Scheme 1.1 is driving a significant transformation in the specialty steel sector, attracting fresh investments and boosting domestic manufacturing. The government has expanded the PLI scheme to strengthen India’s steel industry, ensuring reduced dependency on imports.
In the second round of PLI 1.1, ₹17,000 crore worth of investment commitments have been secured, further reinforcing the initiative’s impact. A total of 42 Memorandums of Understanding (MoUs) have been signed under the scheme, highlighting industry confidence in India’s push for self-reliance in steel production.
The PLI scheme incentivizes domestic steelmakers to invest in advanced manufacturing technologies, improve product quality, and meet the rising demand for high-grade steel in infrastructure, automotive, and defense sectors. By promoting specialty steel production within India, the government aims to strengthen the country’s global competitiveness while reducing import dependency.
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