New Delhi, 6 January (HS): Union Steel and Heavy Industries Minister HD Kumaraswamy launched the second round of the PLI scheme for special steel. This scheme has been called PLI Scheme 1.1. This scheme will be implemented from the upcoming financial year 2025-26 to the financial year 2029-30.

Senior officials of the ministry and industry leaders were present at the program organized at Vigyan Bhavan in New Delhi on Monday. Union Steel Minister HD Kumaraswamy launched this scheme on this occasion. In his address on this occasion, Minister Kumaraswamy said that the Ministry of Steel has launched PLI Scheme 1.1 for Special Steel for five product categories, which is similar to the existing PLI scheme. He said that it has been taken forward after the industry participants requested for exemption from the ministry, so that their participation can be enabled. He hoped that the industry would actively participate in investing and strengthening Brand India, reducing imports and establishing India as a global steel superpower. According to the Ministry of Steel, 'PLI Scheme 1.1' will be open from January 6 to January 31, 2025. According to the ministry, the changes made in the PLI scheme for special steel reflect the government's commitment to strengthen domestic production, promote innovation and reduce imports.

Hindusthan Samachar / Jun Sarkar