Latest news with #GlobalStainless-SteelExpo2025
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Business Standard
5 days ago
- Business
- Business Standard
India's stainless steel demand to grow 7-8% annually over 2-3 years: ISSDA
The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association (ISSDA) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. 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, ISSDA President said. "The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. You can target these opportunities," Krishnamurti said to the stakeholders. 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, he added. Speaking further 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.
Economic Times
5 days ago
- Business
- Economic Times
India's demand for stainless steel to grow 7-8% Y-o-Y over next 2-3 years: ISSDA
Agencies India's stainless steel industry The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association (ISSDA) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. 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, ISSDA President said. "The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. You can target these opportunities," Krishnamurti said to the stakeholders. 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 USD 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, he added. Speaking further 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.
Time of India
5 days ago
- Business
- Time of India
India's demand for stainless steel to grow 7-8% Y-o-Y over next 2-3 years: ISSDA
The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association ( ISSDA ) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. 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, ISSDA President said. "The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. You can target these opportunities," Krishnamurti said to the stakeholders. 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, he added. Speaking further 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.
Time of India
6 days ago
- Business
- Time of India
India's demand for stainless steel to grow 7-8% Y-o-Y over next 2-3 years: ISSDA
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association ISSDA ) said on overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025).Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event."India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he 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, ISSDA President said."The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. You can target these opportunities," Krishnamurti said to the government has significantly boosted its capex. The capex to GDP ratio surged to 3.3 per cent for said the construction market in India is expected to reach USD 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, he further 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 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.
Time of India
25-05-2025
- Business
- Time of India
Stainless steel players to take up import issue at global summit in Mumbai next month
Thousands of stainless steel players from across the globe will come together to discuss various opportunities and challenges including issues related to imports at the Global Stainless-Steel Expo 2025 (GSSE 2025) beginning June 4. India's stainless steel imports rose by about 3 per cent year-on-year to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors to the shipments, according to research firm BigMint. Imports of steel products at cheaper rates adversely affect domestic manufacturers. Over 10,000 industry professionals directly affiliated with the stainless steel industry will discuss and share their suggestions over the imports, which is one of the key challenges facing the sector, organiser Virgo Communications and Exhibitions (VCE) said in a statement. Besides, topics like demand creation, emissions target, exports, research and development (R&D) of new technologies, promoting innovation, forging collaborations, and driving growth crucial for the sector will also be taken up at the event which begins on June 4 in Mumbai, VCE said. The summit will also provide a platform for collaborations or partnerships in the sector, which has registered a compound annual growth rate (CAGR) of 8-9 per cent in India, surpassing the global average CAGR of 5.8 per cent, the statement said. Stainless steel has evolved beyond its industrial roots, becoming a cornerstone of India's growth across diverse sectors. From powering infrastructure to supporting defence and sustainable development, stainless steel is a symbol of resilience and innovation, said VCE Director Anitha Raghunath. Industry leaders from India and abroad, as well as government representatives, are attending the event, she said. Some of the focus areas will be application of stainless steel in growing industries like renewable energy (solar, wind, and hydro), electric vehicles (EVs), public transport, automobiles, heavy transport, healthcare, railway and metro projects, redevelopment of railway stations, and defence and aerospace.
