·
New Phase to Boost Investment, Innovation,
and High-Grade Steel Production in India
·
Over ₹43,800 Crore Committed: Nearly
31,000 Jobs Generated Under Earlier Rounds
·
PLI 1.2 to Strengthen India’s Role in Global
Value Chain, Aid Viksit Bharat 2047 Vision
The Government of India
has launched the Third
Round (PLI 1.2) of the Production
Linked Incentive (PLI) Scheme for Specialty Steel, reinforcing
its goal to make India a global hub for high-grade steel production.
Announcing the
initiative, Union Minister
for Steel and Heavy Industries, H.D. Kumaraswamy, described it
as a key step toward Atmanirbhar Bharat and Viksit Bharat 2047,
enabling self-reliance, global competitiveness, and technological advancement.
Approved in July 2021 with an outlay
of ₹6,322 crore,
the PLI Scheme has already attracted investments worth ₹43,874 crore,
created 30,760 direct jobs,
and is expected to add 14.3
million tonnes of new specialty steel capacity.
The PLI 1.2 round will focus
on advanced steel
categories such as super
alloys, CRGO steel, stainless steel, titanium alloys, and coated steels,
opening opportunities for MSMEs
and existing producers.
The initiative is aimed
at fostering export-led
growth, innovation,
and cleaner, sustainable
technologies, consolidating India’s role in the global steel value chain.
Minister Kumaraswamy
emphasized, “The story of Indian steel is the story of India’s progress itself
— a journey from aspiration to achievement.”
The
Government of India has launched the Third Round (PLI 1.2) of the Production Linked
Incentive (PLI) Scheme for Specialty Steel, furthering its commitment to make India
a global leader in advanced steel manufacturing. The announcement was made by Union
Minister for Steel and Heavy Industries, H.D. Kumaraswamy, who described the initiative
as a major milestone in India’s journey toward industrial self-reliance and global
competitiveness.
Speaking
about the launch, Kumaraswamy said 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.”
A Transformative Policy for
India’s Steel Sector
Approved
by the Union Cabinet in July 2021, the PLI Scheme for Specialty Steel was introduced
with a total outlay of ₹6,322 crore to encourage production of high-value,
high-grade steels used in sectors such as defence, aerospace, energy, automobiles,
and infrastructure.
Since
its inception, the scheme has attracted investment commitments worth ₹43,874
crore, created 30,760 direct jobs, and is expected to add 14.3 million tonnes of
new specialty steel capacity in India.
According
to the latest data, as of September 2025, companies participating in the first two
rounds have already invested ₹22,973 crore and generated 13,284 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: A Push for Advanced
Steel Categories
The
newly launched PLI 1.2 round is aimed at attracting fresh investments in advanced
and emerging categories such as super alloys, CRGO steel, stainless steel long and
flat products, titanium alloys, and coated steels, materials that are essential
for next-generation industrial and defence applications.
Union
Minister of Steel H.D. Kumaraswamy said the third round will also open up new avenues
for MSMEs and existing producers who have expanded or upgraded their capacities
following the earlier phases.
“PLI
1.2 is designed to accelerate India’s journey toward becoming a global hub for high-grade
steel production,” Mr. Kumaraswamy said,
adding that the new phase would make Indian steel manufacturers more competitive
on the global stage.
Building a Global Manufacturing
Hub
With
India steadily emerging as one of the world’s top steel producers, the PLI scheme
is expected to consolidate the country’s role in the global value chain. The focus
will be on export-led growth, technological innovation, and sustainability in production.
“Through
this initiative, we aim not just to produce steel for India, but to supply the world
from India,” the Minister noted.
The
scheme aligns with the government’s broader vision of making India a manufacturing
powerhouse while ensuring environmental sustainability through cleaner technologies
and higher value addition.
Toward a Viksit Bharat by 2047
Mr.
Kumaraswamy reiterated that the Government remains committed to building a resilient,
self-reliant, and globally competitive steel industry. The PLI 1.2 round, he said,
would play a vital role in achieving the goals of Atmanirbhar
Bharat, Viksit Bharat by 2047, and India’s Net Zero 2070 target.
He
remarked, “The story of Indian steel is the story of India’s progress itself, a
journey from aspiration to achievement, guided by the vision of Prime Minister Narendra
Modi Ji.”
Officials
expect that with continued investment inflows, technology partnerships, and export
expansion, India will not only meet its domestic steel demand but also become a
global supplier of advanced steel products in the coming years.
With
the launch of PLI 1.2, India’s steel sector enters a new phase of growth, innovation,
and global competitiveness, a move that promises to strengthen the backbone of a
self-reliant and future-ready nation.