The Ministry of Steel, Government of India, is launching the Third Round (PLI 1.2) of the Production Linked Incentive (PLI) Scheme for Specialty Steel on 04.11.2025 at 12:30 pm in the Steel Room, Udyog Bhawan, New Delhi. The launch will be presided over by the Union Minister for Steel and Heavy Industries, Shri H.D. Kumaraswamy. The PLI Scheme for Specialty Steel, approved in July 2021 with an outlay of ₹6,322 crore, aims to transform India into a global hub for high-value steel production. The scheme incentivizes production and investment in identified product categories to enhance value addition and reduce import dependence. The scheme has attracted a committed investment of ₹43,874 crore, with ₹22,973 crore already invested and over 13,000 jobs created. It covers 22 product sub-categories with incentive rates from 4% to 15% for five years starting FY 2025-26, with disbursal from FY 2026-27. The base year for pricing is updated to FY 2024-25. Release ID: 2186129, Visitor Counter: 608.
Key Entities Referenced
Production Linked Incentive (PLI) Scheme for Specialty Steel: A scheme to promote domestic manufacturing of specialty steel in India, aiming to increase production, investment, and value addition in the sector.
Ministry of Steel: The central government ministry responsible for the development of the steel industry in India and the implementation of the PLI scheme.
New Delhi: Location of the launch event and a significant administrative center relevant to national policies.
Atmanirbhar Bharat: Government's vision under which the PLI scheme is a key initiative to promote self-reliance.
Ministry of Steel
Launch of the Third Round (PLI 1.2) of the
Production Linked Incentive Scheme for
Specialty Steel
Posted On: 04 NOV 2025 11:08AM by PIB Delhi
Organised by: Ministry of Steel, Government of India
Venue: Steel Room, Udyog Bhawan, New Delhi Date & Time: 12:30pm, 04.11.2025
The Ministry of Steel, Government of India, is set to launch the Third Round (PLI 1.2) of the
Production Linked Incentive (PLI) Scheme for Specialty Steel, one of the key initiatives under the
Government’s Atmanirbhar Bharat vision. The launch will be presided over by the Hon’ble Union
Minister for Steel and Heavy Industries, Shri H.D. Kumaraswamy, in the presence of senior officials,
and other stakeholders from the sector.
The PLI Scheme for Specialty Steel, approved by the Union Cabinet in July 2021 with an overall
outlay of ₹6,322 crore, seeks to transform India into a global hub for production of high-value and
advanced steel grades. The scheme incentivizes incremental production and investment in identified
product categories, thereby enhancing value addition within the country and reducing import
dependence in critical sectors such as defence, power, aerospace and infrastructure.
So far, the PLI Scheme has attracted a committed investment of ₹43,874 crore, with ₹22,973 crore
already invested and over 13,000 jobs created under the first two rounds.
The scheme covers 22 product sub-categories including super alloys, CRGO, alloy forgings, stainless
steel (long and flat), titanium alloys, and coated steels. Incentive rates range from 4% to 15%,
applicable for five years starting FY 2025–26, with disbursal beginning in FY 2026–27. The base year
for pricing has also been updated to FY 2024–25 to better reflect current trends.
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