Jindal Stainless Signs MoU Under PLI 1.2 to Expand Specialty Steel Capacity

Jindal Stainless has signed a Memorandum of Understanding with the Ministry of Steel under the Production Linked Incentive PLI 1.2 scheme for specialty steel, marking a significant step in strengthening India’s advanced manufacturing ecosystem. The agreement was formalised at Vigyan Bhawan in New Delhi in the presence of Union Steel Minister HD Kumaraswamy.

The PLI 1.2 scheme has been introduced to accelerate capacity expansion in high grade specialty steel and stainless steel segments that are critical for strategic sectors such as railways, defence, electrical equipment and aerospace. Under the third round of the scheme, 55 companies have signed 85 MoUs, committing a total investment of Rs 11,887 crore to create an additional production capacity of 8.7 million tonnes by FY 2031.

As part of the agreement, Jindal Stainless will undertake capacity augmentation and expand its portfolio of value added products, including specialised alloys and forged products. The move aligns with the company’s long term strategy to strengthen its presence in high growth and technology intensive segments while supporting the country’s import substitution goals.

Managing Director Abhyuday Jindal said the company has been steadily scaling up its capabilities to meet rising domestic demand for stainless steel across strategic industries. He added that policy support through PLI 1.2 reinforces industry confidence and encourages investments in advanced manufacturing infrastructure.

Company representatives emphasised that the initiative will help build a resilient and future ready stainless steel value chain in India. By expanding domestic production of high value grades, the sector aims to reduce import dependence, conserve foreign exchange and enhance India’s position as a reliable global supplier.

The latest round of the PLI scheme signals the government’s continued focus on boosting manufacturing competitiveness and driving sustainable industrial growth.