- Scheme, with outlay of INR 6,322 cr, has drawn INR 43,874 cr in investments
- PLI 1.2 focuses on super-alloys, CRGO, titanium alloys, stainless and coated steels
The Union Minister of Steel and Heavy Industries, H.D. Kumaraswamy, has officially launched the third round (PLI 1.2) of the Production Linked Incentive (PLI) Scheme for Specialty Steel, reinforcing India’s commitment to expanding high-value steel manufacturing under the Atmanirbhar Bharat vision.
The scheme, with a total outlay of INR 6,322 crore, has already drawn INR 43,874 crore in committed investments, created 30,760 direct jobs, and targets 14.3 million tonnes (mnt) of specialty steel output. As of September 2025, companies from the first two rounds have invested INR 22,973 crore, generating over 13,000 jobs.
The third round focuses on advanced and emerging steel products such as super-alloys, CRGO steel, titanium alloys, stainless steel (longs and flats), and coated steels—segments that are essential for high-tech, defence, and green industries. Applications are open for 30 days through the PLI MOS portal, with incentives ranging from 4% to 15% of incremental sales, available for five years beginning FY 2025-26.
By revising the base year to FY 2024-25, the government aims to align incentives with current market realities and global pricing trends.
PLI 1.2 is expected to accelerate India’s transition from volume-based to value-driven steel production. With increasing emphasis on clean energy, infrastructure, and electric mobility, demand for specialty grades is projected to rise sharply. The scheme will not only reduce import dependence but also position India as a global supplier of advanced steels.
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