Union Minister of Steel and Heavy Industries launches the third round of PLI scheme for Specialty Steel (PLI scheme 1.2)
Union Minister of Steel and Heavy Industries launches the third round of PLI scheme for Specialty Steel (PLI scheme 1.2)
Union Minister of Steel and Heavy Industries Shri H.D. Kumaraswamy launched the third round of PLI scheme for Specialty Steel. Steel Ministry’s PLI scheme has so far attracted a commitment in investment of ₹43,874 crores, direct employment of 30,760 people and estimated production of 14.3 million tonnes of ‘Specialty Steel’ identified in the scheme. As of September 2025, participating companies in the first two rounds have invested ₹22,973 crore and generated 13,284 in employment.
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.
Key Highlights of the Third Round (PLI 1.2):