NOV 04: Union Minister of Steel and Heavy Industries, Shri H.D. Kumaraswamy, today launched the third round of the Production Linked Incentive (PLI) Scheme for Specialty Steel (PLI 1.2), marking a new milestone in India’s efforts to enhance domestic manufacturing capacity in high-grade steel.
The PLI Scheme, a flagship initiative under the Atmanirbhar Bharat vision, aims to make India a global leader in specialty steel production. So far, the scheme has attracted committed investments worth ₹43,874 crore, created 30,760 direct employment opportunities, and is expected to generate around 14.3 million tonnes of specialty steel. As of September 2025, companies participating in the first two rounds have already invested ₹22,973 crore and generated 13,284 jobs.
The third round of the scheme focuses on promoting investments in advanced and emerging steel products, including super alloys, CRGO, stainless steel long and flat products, titanium alloys, and coated steels. These products are vital for strategic sectors like defense, energy, and infrastructure.
Applications for participation are invited through the online portal https://plimos.mecon.co.in for 30 days from the date of launch. Indian-registered companies engaged in end-to-end manufacturing of notified products are eligible to apply.
The new round covers 22 product sub-categories across five target segments and offers incentives ranging from 4% to 15% of incremental sales, depending on the category and production year. The incentive benefits will be available for five years starting FY 2025–26, with disbursal commencing in FY 2026–27.
To align with current market conditions, the base year for pricing has been updated from 2019–20 to 2024–25. The initiative is expected to further strengthen India’s position as a global supplier of specialty steel.
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