India to Launch PLI Scheme 1.1 for Steel Manufacturing: A Game Changer for Domestic Production!

Indian govt to announce the PLI Scheme 1.1 for steel on 6 January, 2025; aims at improving domestic capacity, reducing import. The scheme is one of five to be implemented, and an announcement was made by Steel Minister H.D. Kumaraswamy. An estimated ₹27,106 crore worth of committed investments are envisioned in the first tranche and it is anticipated that 14,760 people will be provided employment and there would be 7.90 million tonnes of specialty steel output. This strategy corrects earlier lapses in participation and seeks to spur more investments in this vital sector of industries such as defense and automotive.

Source: Business Today, Business Standard, manufacturingtodayindia