Steel and heavy industries minister H D Kumaraswamy launched the scheme at an event at Vigyan Bhavan in New Delhi.The application window will close on January 31. The reopening was accompanied by easing of conditions for companies willing to invest in making cold rolled grain oriented electrical steel (CRGO), also known as electric steel. CRGO steel is a soft magnetic material used to make the core of electrical transformers and other devices. "The new version of the scheme follows extensive consultations with the industry since August last year where it was felt that there was a scope for more applications," secretary in the ministry of steel Sandeep Pondrik said.In PLI 1.1, the investment threshold for electric steel has been brought down to ₹3,000 crore from ₹5,000 crore. In each of the 25 products covered under the scheme, the investment threshold differs. It ranges from ₹30 crore to ₹5,000 crore.The PLI 1.1 for steel will have a production tenure of 2025-26 to 2029-30. The claim for incentive can be filed from 2026-27 to 2030-31. It has an outlay of ₹6,322 crore and is expected to bring in investments of ₹40,000 crore and capacity addition of 25 million tonne for specialty steel. The scheme is expected to generate about 525,000 jobs, of which 68,000 will be direct employments.

Govt Eases Conditions for Specialty Steel PLI

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