Union Minister for Steel and Heavy Industries H.D. Kumaraswamy on Tuesday launched the third round of the Production-Linked Incentive (PLI) Scheme for Specialty Steel, marking a milestone in India’s efforts to strengthen domestic manufacturing and boost value-added steel production.
The PLI Scheme for Specialty Steel, approved by the Cabinet in July 2021, is a flagship initiative under the Atmanirbhar Bharat vision to make India a global hub for high-end steel manufacturing. So far, the scheme has attracted investment commitments worth ₹43,874 crore, created 30,760 direct jobs, and is expected to generate around 14.3 million tonnes of specialty steel production across identified product categories.
According to official data, participating companies in the first two rounds have already invested ₹22,973 crore and generated 13,284 jobs as of September 2025.
The newly launched third round (PLI 1.2) aims to draw fresh investments in emerging and advanced steel products, including super alloys, CRGO (cold-rolled grain-oriented steel), stainless steel long and flat products, titanium alloys, and coated steels. These additions are expected to significantly expand India’s high-end steel capacity, enhance global competitiveness, and strengthen its position in the international supply chain for specialty steels.
Key Features of PLI 1.2
* Application Window: Open for 30 days from the date of launch via the official portal — https://plimos.mecon.co.in
* Eligibility: Indian-registered companies engaged in end-to-end manufacturing of notified steel products can apply.
* Product Coverage: The scheme covers 22 product sub-categories across five target segments, including strategic and commercial grades, as well as coated and wire products.
* Incentive Rates: Ranging from 4% to 15% of incremental sales, depending on the product category and production year.
* Incentive Period: Applicable for five years, starting FY 2025–26, with disbursals commencing from FY 2026–27.
* Revised Base Year: Updated from 2019–20 to 2024–25 to align with current market trends.
