At the MoU signing ceremony (from left to right): Union Minister for Steel and Heavy Industries, H. D. Kumaraswamy ji; Secretary, Ministry of Steel, Sandeep Poundrik ji; Joint Secretary, Ministry of Steel, Abhijit Narendra ji; and Jindal Stainless, Director – Corporate Affairs, Vijay Sharma

Jindal Stainless has signed an MoU with the Ministry of Steel under the Government of India’s PLI 1.2 scheme for speciality steel. The agreement highlights India’s push to expand high-value steel capacity and cut import dependence. With Rs 11,887 crore already committed across the scheme, can domestic producers fully meet the rising demand in strategic sectors?

Why the scheme matters

The PLI 1.2 scheme was introduced following strong industry demand and the need to expand capacity in speciality steel and stainless steel grades used in critical areas such as railways, defence, electrical equipment, and aerospace. Under the programme, 85 MoUs have been signed with 55 companies. These agreements together represent planned investments of Rs 11,887 crore and are expected to create an additional 8.7 million tonnes of speciality steel capacity by FY 2031.

The MoU with Jindal Stainless fits into this wider strategy. The company plans to expand its existing facilities while also adding capacity for value-added products. These include specialised alloys and forged products, which are increasingly required for advanced industrial and infrastructure applications.

Company plans and outlook

For Jindal Stainless, the new scheme aligns with its ongoing growth plans. The company has been steadily increasing its manufacturing capabilities to serve both domestic demand and emerging global opportunities. Its focus remains on higher-value products and advanced applications rather than basic commodity grades.

Speaking on the occasion, Jindal Stainless, Managing Director, Abhyuday Jindal, said, “Jindal Stainless has been steadily scaling up its capacities and capabilities, which remain a central and continuous pillar of our growth strategy, aligned with the nation’s growing demand of stainless steel across key strategic sectors. We welcome this policy, which further reinforces industry confidence to invest in advanced manufacturing, while ensuring that India builds a resilient and future-ready speciality stainless steel base to support national priorities and economic growth.”

Speaking during the MoU signing ceremony, Jindal Stainless, Director – Corporate Affairs, Vijay Sharma said, “Through this strategic MoU, we are proud to contribute to a resilient and future-ready stainless steel value chain that can meet the evolving requirements of strategic and high-growth sectors. We appreciate the Government’s support through enabling policies that advance this ambition and strengthen the domestic industry’s long-term competitiveness.”

Rising demand and policy momentum

Stainless steel demand in India continues to grow across sectors such as infrastructure, clean energy, transport, urban mobility, automobiles, and industrial equipment. As investments rise in these areas, reliable domestic production of speciality steel and stainless steel grades becomes more important.

PLI 1.2 builds on earlier rounds of the incentive scheme, which have already attracted investments exceeding Rs 40,000 crore. Policymakers expect the latest phase to further drive capacity creation, support import substitution, and help Indian manufacturers integrate more deeply into global value chains.