Around 35 companies have expressed interest in the second round of the production linked incentive (PLI) scheme for specialty steel, committing Rs 25,200 crore in investment, according to the Ministry of Commerce and Industry.

The Ministry of Steel is finalising selection and MoUs with these companies. An estimated Rs 3,600 crore in incentives is planned for these projects, with Rs 2,000 crore expected to be disbursed by the scheme's conclusion.

Overall, the Centre has approved 764 applications across 14 key sectors under the PLI scheme, benefiting 176 MSMEs in industries including bulk drugs, medical devices, telecom, and textiles. The PLI initiative aims to enhance India's manufacturing and exports, with reported investments reaching Rs 1.61 lakh crore (USD 18.72 billion) by November 2024.

Exports under PLI have surpassed Rs 5.31 lakh crore (USD 61.76 billion), significantly driven by large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom. Incentives amounting to Rs 14,020 crore have been disbursed across 10 key sectors, including IT hardware, automobiles, and drones.