New Delhi, Mar 13 (KNN) The government has received 73 project applications under the second round of the Production Linked Incentive (PLI) scheme for specialty steel, according to Sandeep Poundrik, Secretary in the Union Steel Ministry.
This announcement was made on Wednesday during the ‘Catalysing R&D in Indian Steel Sector’ event held in the national capital.
The PLI schemes were introduced as part of the government’s strategic efforts to boost domestic production of specialty steel, aiming to make India self-reliant in high-grade steel manufacturing.
Poundrik emphasised that these applications would contribute significantly to the nation’s steel production capacity, adding approximately 16.5 million tonnes of specialty steel capacity across the country.
The Secretary highlighted the government’s commitment to quality control measures, stating, “We are ensuring that substandard steel is not imported into the country.
We are focusing on quality control orders so that both domestic and imported steel is of adequate quality and the products sold here are of adequate quality.”
Addressing concerns regarding potential impacts from recent U.S. tariff measures, Poundrik reassured stakeholders that these would have minimal effect on the Indian steel industry.
“We don’t export much to the USA. Our total steel export to the USA is less than 100,000 tonnes. So I don’t think that will have much impact on the Indian steel sector,” he explained.
The second round of the PLI scheme, termed PLI Scheme 1.1, was launched in January by Union Minister of Steel and Heavy Industries H.D. Kumaraswamy.
This iteration of the scheme encompasses five product categories aligned with the existing PLI framework: coated/plated steel products, high strength/wear-resistant steel, specialty rails, alloy steel products & steel wires, and electrical steel.
These specialty steel products have diverse applications across multiple sectors, including white goods, transformers, automobiles, and various niche industries.
The government has confirmed that the scheme will operate within the originally allocated budget of Rs 6,322 crore, maintaining fiscal discipline while pursuing industrial growth objectives.
The strong response to the second round of the PLI scheme reflects growing industry confidence in the government’s initiatives to strengthen India’s position in specialty steel production and advance the country’s manufacturing capabilities in high-value steel segments.
(KNN Bureau)
