Jindal Stainless Ltd (JSL) has signed an agreement with the Ministry of Steel under the newly launched Production Linked Incentive (PLI) One Point Two scheme for speciality steel. The company will undertake capacity augmentation and add new capacities for value-added products, including specialised alloys and forged products. The agreement is intended to support both upgrades at existing facilities and the introduction of additional manufacturing lines to produce higher-grade outputs.

The Union Steel Minister HD Kumaraswamy launched the third round of the Production Linked Incentive scheme for speciality steel earlier this week. The scheme is aimed at adding eight point seven mn t of upgraded alloy steel capacity across the country. It is designed to incentivise domestic production, encourage higher value addition and reduce dependence on imports for specialised grades. Officials expect phased implementation to allow industry adaptation.

JSL's managing director Abhyuday Jindal said the policy aims to add special steel capacity in India and make the country self-sufficient in special grades. He noted that demand for high-quality stainless steel is rising in sectors such as infrastructure, clean energy systems, railways, urban mobility, automobiles and industrial equipment. These end-uses require materials with enhanced corrosion resistance, strength and longevity, which the company expects to address through the new capacities.

The agreement is expected to support JSL's plans to increase production of higher-value products and to strengthen domestic supply chains. The company is India's largest stainless steel manufacturer and the move aligns with broader efforts to develop local manufacturing capability and reduce import dependence. The development is projected to bolster the company's competitiveness in both domestic and export markets while supporting investment and job opportunities across related industries and downstream suppliers. Regulatory clarity and timely disbursement of incentives will be important for outcomes.