New Delhi – Steel minister H.D. Kumaraswamy kicked off the third round of India’s production‑linked incentive (PLI) programme for specialty steel. The move is part of the country’s “Atmanirbhar Bharat” effort to turn India into a major global steel hub.
So far the PLI scheme has drawn a commitment of ₹43,874 crore from investors, promising to create roughly 30,760 jobs and push production to 14.3 million tonnes of specialty steel. By September 2025, companies that joined the first two rounds have already invested ₹22,973 crore and created 13,284 jobs.
The new round, called PLI 1.2, focuses on high‑tech products such as super alloys, CRGO, stainless steel long and flat products, titanium alloys, and coated steels. It aims to build advanced capacity, add many more jobs, and position India as a preferred supplier in the global specialty‑steel chain.
Companies that manufacture these products entirely in India can apply online. Applications are open for 30 days from the launch through https://plimos.mecon.co.in. The scheme covers 22 product sub‑categories divided into strategic, commercial (Categories 1 and 2), and coated/wire products.
Incentives range from 4 % to 15 % of incremental sales, with benefits lasting up to five years starting from fiscal year 2025‑26. Payments will start in FY 2026‑27. The price base year has been updated from 2019‑20 to 2024‑25 to reflect current market conditions.
This latest push is expected to boost India’s specialty‑steel production, lift employment, and deepen the country’s role in the global steel value chain.
Source: ianslive
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