Ministry of Steel today signed Memorandum of Understanding (MoUs) for 85 projects with investments of more than 11 thousand crore rupees in New Delhi. The Ministry said that MoUs have been signed with 55 companies under the third round of Production-Linked Incentive (PLI) Scheme 1.2.
Addressing the gathering after the MoU signing ceremony, Minister for Steel and Heavy Industries H.D. Kumaraswamy underscored that PLI 1.2 is a decisive step towards building a resilient and globally competitive speciality steel ecosystem. He noted that the scheme advances the twin national priorities of Make in India and Aatmanirbhar Bharat by encouraging domestic capacity creation in advanced and strategic steel products. The Minister highlighted that PLI 1.2 seeks to address the structural gap by incentivising domestic production, conserving foreign exchange, and positioning India as a reliable global supplier of advanced steel.
