Jindal Stainless has signed a memorandum of understanding under the PLI 1.2 scheme to expand speciality steel capacity and align with its long term growth strategy. The PLI 1.2 initiative has led to 85 memoranda of understanding with 55 companies, committing Rs 118,870 million (mn) to add eight point seven million (mn) tonne (t) of speciality steel capacity by fiscal year 2031. The company’s participation is intended to scale production, introduce value added alloys and reinforce its role in strategic industrial supply chains.

Under the agreement the company will augment existing capacity and develop new capabilities in specialised alloys and forged products to serve sectors such as railways, defence, electrical equipment and aerospace, where performance and reliability standards are particularly stringent. The capacity expansion is expected to reduce dependence on imported speciality steel and to support domestic procurement for critical projects.

Jindal Stainless has been expanding its manufacturing footprint with a focus on advanced application specific stainless steel products rather than on volume alone, positioning it as a supplier of choice for infrastructure, clean energy, mobility and industrial engineering projects. Company leadership has identified capacity enhancement as a core pillar of growth amid accelerating investments in urban infrastructure, renewable energy and rail networks.

The PLI 1.2 scheme builds on earlier phases that have attracted Rs 400,000 million (mn) in investments across the steel sector and is expected to deepen localisation, support import substitution and integrate Indian producers more closely into global supply chains. The latest round is intended to catalyse technological upgrades, product diversification and long term competitiveness across the speciality steel value chain.

By strengthening its speciality steel portfolio the company aims to play a central role in India’s transition towards a more resilient, innovation driven manufacturing ecosystem and in meeting rising domestic demand while tapping into emerging global opportunities. The memorandum is therefore presented as both a policy milestone and a strategic step towards sustained capacity expansion and higher value addition.