Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
✅ 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.
Also Read : PNGRB chairperson updates Chandigarh governor on natural gas progress REC Ltd partners with NIIFL for renewable energy and infrastructure funding
India's fuel usage is predicted to go up by 2.7% in the upcoming fiscal year starting April 1, as pe...
Notification 25-Jan-2024
✅ QCOs & BIS standards improve steel quality and industry credibility.✅ Govt initiatives &...
Press Releases 02-Apr-2025
The Steel Ministry has recently taken significant actions against key officials from two prominent s...
Announcement 20-Jan-2024
Dr. Anil Kumar Jain, Chairperson of the Petroleum and Natural Gas Regulatory Board (PNGRB), met with...
Press Releases 22-Jan-2024
The government is actively pursuing initiatives to bolster the labelling and branding of steel secto...
Press Releases 07-Feb-2024
Union Minister Sarbananda Sonowal stated that the bilateral trade between India and Russia reached $...
Announcement 25-Jan-2024