India''s Specialty Steel PLI Scheme Sees Rs 26,320 Cr Investment

New Delhi, Aug 4 (PTI) A total investment of Rs 26,320 crore has been made by various companies under the Production Linked Incentive (PLI) Scheme for specialty steel as of June 30, Parliament was informed on Tuesday.

The participating companies have committed investments of Rs 56,106 crore, Minister of State for Steel Bhupathiraju Srinivasa Varma informed the Lok Sabha.

"As on 30 June, 2026, actual investment of about Rs 26,320 crore has been made by the participating companies and cumulative incremental production and import substitution of about 3.7 million tonnes has been achieved under the scheme," he said in a written reply.


Incentives amounting to Rs 235.7 crore have been disbursed to eligible companies, the minister said.

Launched at an outlay of Rs 6,322 crore in 2021 by the Ministry of Steel, the first round of the PLI Scheme for specialty steel aims to promote the manufacturing of value-added steel grades in the country and help the Indian steel industry mature in terms of technology and move up the value chain.

Speciality steel is a value-added product which can be used in various strategic applications like defence, space, power, apart from the automobile sector, specialised capital goods, etc.

The five categories of speciality steel which have been included in the first round of the PLI Scheme for Speciality Steel are coated/plated steel products, high strength/wear resistant steel, speciality rails, alloy steel products and steel wires, and electrical steel.