Updated on June 19, 2025 02:53:21 PM
The Production Linked Incentive (PLI) Scheme for Specialty Steel will help to make India a manufacturing hub of high end specialty steel grades. The PLI Scheme for Specialty Steel favors production at large scales to support the increase in the production of specialty steel products through the enhancement of technological development locally. The PLI Scheme for Specialty Steel aims at decreasing import dependence while encouraging value creation from within India and attracting talent and capital both Indian and foreign. The PLI Scheme for Specialty Steel will not only improve India's position on the global map in steel markets but also improve technological readiness of India steel in various industries and help in placing Indian steel higher in the global supply chain.
The Production Linked Incentive (PLI) Scheme for Specialty Steel seeks to boost the production capacity of high-value, value added and critical sectors dependent specialty steel grades. The PLI Scheme for Specialty Steel is an effective structural solution to reduce the import dependency of India and can make the nation a global hub for the manufacturing and exporting of specialty steel. Due to being tied to performance, the PLI Scheme for Specialty Steel stimulates the growth of production, technological development and adoption and application of world-class manufacturing practices where India can effectively compete on the international sphere of steel manufacturing. To foster indigenous development of sophisticated steel manufacturing technology the PLI Scheme for Specialty Steel aims at helping India move up the value chain and create employment, thus enabling India to become a specialty steel exporter.
The Production Linked Incentive (PLI) Scheme for Specialty Steel offers several benefits to India’s manufacturing sector:Strengthen Infrastructure: The PLI Scheme for Specialty Steel enhances manufacturing capacity and covers fundamental structure for production of specialty steel like production line and logistics and transportation network.>
The Production Linked Incentive (PLI) Scheme for Specialty Steel provides different incentive slabs based on the category of specialty steel being produced. The scheme spans from FY 2023-24 to FY 2029-30, with a budgetary outlay of ₹6,322 crore. The incentive rates for each slab (PLI A, B, and C) over the years are as follows:
| PLI Slab | 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 |
|---|---|---|---|---|---|
| PLI – A | 4% | 5% | 5% | 4% | 3% |
| PLI – B | 8% | 9% | 10% | 9% | 7% |
| PLI – C | 12% | 15% | 15% | 13% | 11% |
Conclusion
The Production Linked Incentive (PLI) Scheme for Specialty Steel is a strategic reform to make India the preferred destination for manufacturing of high value specialty steel grades. The PLI Scheme for Specialty Steel aims at decreasing import relay on and enhancing indigenous production, technology development, and infrastructure improvement. The PLI Scheme for Specialty Steel will not only consolidate India’s place in the global map pertaining to the steel market, as well as promote investment for employment generation and to enhance the level of technology readiness in sectors such as steel and other materials. In the long run, the PLI Scheme for Specialty Steel will ensure that India shifts from a low value addition country to a higher value addition country thereby enhancing export competitiveness in the specialty steel industry.
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Frequently Asked Questions
The PLI Scheme for specialty steel intends to bring India at par with global players for specialty steel grades manufacturing, encourage large scale manufacturing, reduce import dependence and promote local value addition.
PLI Scheme for Specialty Steel enhances manufacturing facilities, enhances export sector competitiveness, encourages investments, promotes domestic production, and creates employment in specialty steel and R&D focused sectors.
Automobile manufacturing, construction sector and many more industrial segments will be the beneficiaries coming under the PLI Scheme for Specialty Steel since focus is made on production of specialty steel important in these areas.
The PLI Scheme for Specialty Steel supports the Indian manufacturing sector to adopt superior technologies for enhancing its place in global production networks for steel makers.
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