In November 2025, Union Minister H. D.Kumaraswamy , Ministry of Steel (MoS), has officially launched the third round of PLI scheme for Specialty Steel (PLI scheme 1.2) to bolster domestic production of high-value, advanced steel products.

This initiative support ‘Atmanirbhar Bharat’ by cutting imports and making India a global specialty steel hub.

About PLI scheme for Specialty Steel :

Approval: The PLI Scheme for Specialty Steel, approved with an with a total outlay of Rs. 6,322 crore by the Union Cabinet headed by Prime Minister(PM) Narendra Modi in July 2021 .

Implementation Period: The implementation period of this scheme is from Financial Year 2023-24(FY24) to FY30.

Implementation Agency: The PLI Scheme for Specialty Steel, led by the MoS, is executed with s

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