The Centre 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 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. These materials are essential for next-generation industrial and defence applications.
The PLI Scheme for Specialty Steel was introduced in 2021, with a total outlay of Rs 6,322 crore to encourage the 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 Rs 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 Rs 22,973 crore and generated 13,284 jobs.
