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India's Specialty Steel Boost: Third PLI Round Launches Amid Global Push

The government has launched the third round of PLI scheme for specialty steel to boost domestic manufacturing. This initiative has already attracted massive investment commitments totaling Rs 43,874 crore. The scheme specifically targets advanced steel products including super alloys and coated steels. It's part of India's broader strategy to become a global hub for specialty steel production.

Key Points: Kumaraswamy Launches Third PLI Round for Specialty Steel

  • Scheme aims to generate 30,760 direct jobs through specialty steel production expansion
  • Investments of Rs 22,973 crore already made in first two PLI rounds
  • Third round targets advanced products like super alloys and titanium alloys
  • Incentives range from 4% to 15% for five years starting FY 2025-26
2 min read

Centre launches 3rd round of PLI scheme for specialty steel

Third PLI scheme for specialty steel launched with Rs 43,874 crore investment commitment, targeting 30,760 jobs and 14.3 million tonnes production capacity expansion.

"The PLI Scheme for Specialty Steel is a key initiative under the Atmanirbhar Bharat vision - Steel Ministry Statement"

New Delhi, Nov 4

Union Steel and Heavy Industries Minister H.D. Kumaraswamy on Tuesday launched the third round of the production-linked incentive (PLI) scheme for specialty steel, according to an official statement issued on Tuesday.

The Steel Ministry's PLI scheme has so far attracted a commitment for investment of Rs 43,874 crore, which is expected to create direct employment for 30,760 people and an estimated production of 14.3 million tonnes of specialty steel. As of September 2025, participating companies in the first two rounds of the PLI scheme have invested Rs 22,973 crore and generated 13,284 jobs, the statement said.

The PLI Scheme for Specialty Steel, approved by the Cabinet in July 2021, is a key initiative under the Atmanirbhar Bharat vision to make India a global hub for steel production. The third round (PLI 1.2) aims to attract new investments in emerging and advanced steel products, such as super alloys, CRGO, stainless steel long and flat products, titanium alloys, and coated steels. This is expected to generate significant employment, expand high-end steel capacity, and position India as a preferred supplier in the global value chain for specialty steels, the statement said.

Applications in the third round of the PLI scheme for speciality steel are invited through the online portal https://plimos.mecon.co.in for a period of 30 days from the date of launch.

Companies registered in India which are engaged in the end-to-end manufacturing of the notified products are eligible to apply.

The third round of the PLI Scheme covers 22 product sub-categories across five broad target segments, including strategic steel grades, commercial grades (Categories 1 and 2), and coated/wire products.

The incentives will range from 4 per cent to 15 per cent of incremental sales, depending on the product sub-category and year of production. The benefits will be available for a maximum of five years starting from FY 2025-26, with incentive disbursal commencing in FY 2026-27.

The base year for prices under the scheme has been revised from 2019-20 to 2024-25 to reflect current trends, the statement added.

- IANS

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Reader Comments

R
Rohit P
Good initiative but I hope the benefits actually reach MSMEs and not just big corporates. The scheme mentions companies registered in India, but smaller players often struggle with compliance and application processes. The government should ensure level playing field for all.
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Arjun K
Focus on specialty steel like super alloys and titanium is strategic thinking! This will reduce our import dependence and create high-value jobs. The revised base year from 2019-20 to 2024-25 makes sense given inflation and market changes. Smart move!
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Sarah B
As someone working in manufacturing, I can see how this will boost our competitiveness. The 4-15% incentive on incremental sales is quite attractive. Hope this translates into better quality products and more export opportunities for Indian companies.
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Vikram M
The employment generation numbers are impressive - 30,000+ direct jobs expected. This is exactly what our youth needs. Hope the training and skill development keeps pace with these advanced steel manufacturing requirements.
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Michael C
While the scheme looks promising on paper, implementation has been slow in previous rounds. Only 30 days application window seems tight. Hope the online portal is user-friendly and technical glitches don't discourage genuine applicants.

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