Domestic Steel Sector Receives ₹12,900Cr Investment Under PLI Scheme

The Ministry of Steel announced that approximately ₹12,900 crore has already been invested in the domestic steel sector as part of the Production-Linked Incentive (PLI) scheme for specialty steel. This investment is part of the overall plan to generate about ₹29,500 crore in investments by FY28. The scheme aims to add 25 million tonnes (MT) of capacity for producing specialty steel grades and create around 17,000 job opportunities. Currently, five units established under the PLI scheme have commenced production, with nine more units expected to start operations in the current quarter. The ministry anticipates an additional investment of ₹3,000 crore in FY24 and envisions a total investment of ₹10,000 crore in FY25. However, the ministry acknowledged that project delays may occur due to various factors such as supply chain disruptions, geopolitical issues, natural disasters, and market changes.