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India Powers Ahead with Third Round of PLI Scheme for Specialty Steel
Summary: India launches the third round of the PLI Scheme for Specialty Steel, unlocking ₹6,322 crore to boost domestic manufacturing, reduce imports, and create thousands of jobs under the Atmanirbhar Bharat mission.
Steel Gets Stronger: India’s PLI 1.2 Scheme Takes Off
New Delhi, 4 November 2025 - In a landmark move to strengthen India's industrial backbone, the Ministry of Steel has rolled out the Third Round (PLI 1.2) of the Production Linked Incentive (PLI) Scheme for Specialty Steel. The launch event, held at Udyog Bhawan, was graced by Union Minister Shri H.D. Kumaraswamy, senior officials, and key industry stakeholders.
This initiative is a cornerstone of the Atmanirbhar Bharat vision, aiming to position India as a global leader in high-grade steel production while reducing reliance on imports in critical sectors like defence, aerospace, infrastructure, and power.
What’s New in PLI 1.2?
- Total Outlay: ₹6,322 crore approved by the Union Cabinet
- Incentives: 4% to 15% on incremental production
- Duration: 5 years starting FY 2025–26; disbursal begins FY 2026–27
- Updated Base Year: FY 2024–25 for pricing benchmarks
- Product Coverage: 22 sub-categories including:
- Super alloys
- CRGO (Cold Rolled Grain Oriented steel)
- Alloy forgings
- Stainless steel (long and flat)
- Titanium alloys
- Coated steels
Impact So Far
- Committed Investment: ₹43,874 crore
- Already Invested: ₹22,973 crore
- Jobs Created: Over 13,000 in first two rounds
This third round is expected to accelerate domestic manufacturing, enhance value addition, and create thousands of new jobs, reinforcing India’s position in the global steel supply chain.
Keywords: PLI Scheme India 2025,Specialty Steel Manufacturing,Atmanirbhar Bharat Steel News
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