Stainless steel industry seeks policy support to harness full potential
The Hindu
India's stainless steel industry seeks a National Stainless Steel Policy to enhance manufacturing, innovation, and global competitiveness.
India’s stainless steel industry has called for a National Stainless Steel Policy to unlock its full potential in manufacturing, innovation, and global competitiveness.
“India’s stainless steel consumption reached 4.8 million tonnes in FY25, registering an 8% year-on-year growth. Yet, nearly 30% of this is still met by imports, while domestic capacity remains underutilised,” Rajamani Krishnamurti, president of the Indian Stainless Steel Development Association (ISSDA) said, addressing delegates at the Global Stainless Steel Expo 2025 (GSSE 2025) currently underway in Mumbai.
“For the stainless steel industry to reach its true potential, we need a policy framework that boosts confidence, supports Make in India, and ensures long-term sustainability and competitiveness,” he stressed. “We are reaffirming our call for a level-playing field, urging policymakers to proactively safeguard the sector while promoting innovation,” he said.
“As the world paces towards sustainability and resilient infrastructure, stainless steel’s relevance is only growing. However, the influx of unfairly priced imports continues to challenge domestic manufacturers,” he highlighted.
He said ISSDA had consistently cautioned against these risks, emphasising that unchecked trade diversions, particularly from nations like China and Vietnam, could undermine domestic manufacturing and employment in the sector.
“To safeguard the interests of the Indian stainless steel industry, both the government and industry stakeholders must remain vigilant, closely monitor import trends, and proactively implement necessary safeguard measures,” he said.
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