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New Delhi: The Government of India has launched the Third Round (PLI 1.2) of the Production Linked Incentive (PLI) Scheme for Specialty Steel, marking another significant step toward making India a global hub for advanced and high-value steel production.
The announcement was made by Union Minister for Steel and Heavy Industries, Shri H.D. Kumaraswamy, who described the initiative as a “major milestone” in India’s journey toward industrial self-reliance and global competitiveness.
“The PLI scheme stands as a shining pillar of the Atmanirbhar Bharat Abhiyan, a mission to make India self-reliant, globally competitive, and technologically advanced in every sphere of industrial production,” Shri Kumaraswamy said.
A Transformative Policy for the Steel Sector
Approved by the Union Cabinet in July 2021, the PLI Scheme for Specialty Steel carries an outlay of ₹6,322 crore and aims to incentivize production of high-grade steels used in strategic sectors such as defence, aerospace, automobiles, energy, and infrastructure.
Since its inception, the scheme has attracted investment commitments worth ₹43,874 crore, generated 30,760 direct jobs, and is expected to add 14.3 million tonnes of new specialty steel capacity in India.
As of September 2025, companies participating in the first two rounds have already invested ₹22,973 crore and created over 13,000 new jobs.
“The response to the first two rounds has been highly encouraging. The success demonstrates the strength of India’s reform-oriented and industry-driven policy framework,” the Minister said.
PLI 1.2: Accelerating Advanced Steel Production
The new PLI 1.2 phase focuses on attracting fresh investments in emerging and advanced categories of specialty steel — including super alloys, CRGO steel, stainless steel long and flat products, titanium alloys, and coated steels. These high-performance materials are critical for next-generation industrial, defence, and energy applications.
According to the Ministry of Steel, this phase will also open new opportunities for MSMEs and mid-tier manufacturers that have upgraded or expanded their production capacities after the earlier rounds.
“PLI 1.2 is designed to accelerate India’s journey toward becoming a global hub for high-grade steel production,” Shri Kumaraswamy said, adding that it would make Indian steel producers more competitive in global markets.
Strengthening India’s Global Role
With India now the second-largest steel producer in the world, the government envisions the PLI scheme as a catalyst for export-led growth and technological innovation.
“Through this initiative, we aim not just to produce steel for India, but to supply the world from India,” the Minister stated, emphasizing the government’s commitment to cleaner, sustainable production.
Toward Viksit Bharat 2047
The PLI 1.2 round aligns with India’s long-term goals under Viksit Bharat 2047 and Net Zero 2070, reinforcing the government’s focus on sustainability and industrial transformation.
“The story of Indian steel is the story of India’s progress — a journey from aspiration to achievement, guided by the vision of Prime Minister Shri Narendra Modi Ji,” Kumaraswamy said.
Officials expect that the new round of incentives will attract additional domestic and foreign investment, foster technology collaborations, and strengthen India’s export capabilities, ensuring that the nation not only meets its domestic steel demand but also becomes a global supplier of advanced steel products.
With PLI 1.2, India’s steel sector enters a new era — one defined by innovation, resilience, and global leadership — solidifying its role as the backbone of a self-reliant and future-ready nation.
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