Companies participating in the government’s Production-Linked Incentive (PLI) Scheme for Specialty Steel have invested ₹26,320 crore as of June 30, 2026, according to information shared in Parliament by Minister of State for Steel Bhupathiraju Srinivasa Varma. The investment represents nearly half of the ₹56,106 crore committed by beneficiary companies under the scheme.
The minister informed the Lok Sabha that the scheme has also delivered cumulative incremental production and import substitution of around 3.7 million tonnes, highlighting steady progress in strengthening India’s domestic specialty steel manufacturing capabilities. In addition, the government has disbursed ₹235.7 crore as incentives to eligible companies under the programme.
Launched by the Ministry of Steel in 2021 with a financial outlay of ₹6,322 crore, the PLI scheme seeks to promote the production of value-added specialty steel used in strategic sectors such as defence, aerospace, power, automobiles and specialised engineering equipment. The initiative aims to reduce import dependence, encourage technology upgradation and position Indian manufacturers higher in the global steel value chain.
The government expects the scheme to play a pivotal role in expanding domestic manufacturing of high-grade steel products while supporting the broader objective of making India a globally competitive steel producer. Continued investments under the programme are anticipated to drive capacity creation, technological advancement and employment generation across the specialty steel ecosystem.