Union Industries Minister H.D. Kumaraswamy launches PLI Scheme 1.1

Union Industries Minister H.D. Kumaraswamy launches PLI Scheme 1.1

Daily Current Affairs   /   Union Industries Minister H.D. Kumaraswamy launches PLI Scheme 1.1

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Category : National Published on: January 08 2025

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  • Union Steel Minister H.D. Kumaraswamy launched the second round of PLI scheme (PLI Scheme 1.1) for special steel in New Delhi on 6 January 2025, which will be open till 31 January 2025.
  • The PLI Scheme 1.1 will promote production of 5 major product categories such as high strength steel, alloy steel, and steel wire, thereby promoting self-reliance, employment generation and establishing India as a global steel superpower.
  • The objective of the scheme is to promote self-sufficiency in specialty steel production in India, reduce imports and ensure employment generation.
  • The PLI Scheme 1.1 has a budgetary outlay of ₹6,322 crore and will be in force from FY 2025-26 to 2029-30.
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