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India's stainless steel demand to grow 7-8% over next three years: ISSDA President
Jun-05-2025

The Indian Stainless Steel Development Association (ISSDA) President Rajamani Krishnamurti has said that the demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Year-on-Year (Y-o-Y) over the next three years. It said the overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Y-O-Y growth of about 8 per cent. He added that the per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg. 

Krishnamurti said low consumption as against the world average provides a great opportunity to the domestic industry as the government's focus remains on infrastructure development in the country. The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. The government has significantly boosted its capex. The capex to GDP ratio surged to 3.3 per cent for FY24. 

He said the construction market in India is expected to reach $1.42 trillion by 2027, expanding at a CAGR of 17.26 per cent up to 2027. Green hydrogen is also a new area where stainless steel will find application. Talking on India's position, he said the country is the second largest consumer of stainless steel in the world, and its melt production is the third largest in the world after China and Indonesia. On the properties of stainless steel, he said, it is safe for infrastructure projects because of its strength, zero maintenance and life cycle cost, and it is recyclable.


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