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Business Standard
6 days ago
- Business
- Business Standard
Domestic stainless steel use grows 84% in 5 yrs to 4.8 MT in FY25: ISSDA
Domestic stainless steel consumption has registered a growth of 84 per cent over the last five years to reach 4.80 million tonnes in FY 2024-25, industry body Indian Stainless Steel Development Association (ISSDA) has said. The demand has been driven by sectors like infrastructure, railways, airports, metros among others, ISSDA President Rajamani Krishnamurti said in a presentation at the ongoing Global Stainless Steel Expo (GSSE) 2025. As per the data, in FY 2020-21 the consumption of stainless steel in India was at 2.61 million tonnes. It rose to 3.46 million tonnes (a rise of 33 per cent (y-o-y) in FY 2021-22. The demand grew to 3.94 million tonnes in 2022-23 (14 per cent rise y-o-y) and touched 4.49 million tonnes mark in 2023-24 (14 per cent y-o-y) before reaching 4.80 million tonnes in the financial year ended March 31, 2025. "The demand has been mainly on the back of strong growth in consumption from sectors such as building and construction, infrastructure projects, structural and rebar, process industry, railways and transports," Krishnamurti said. The per capita steel consumption has grown 36 per cent in the last five fiscal years from 2.5 kg in FY21 to 3.4 kg in FY25, he said. He further said that the demand for stainless steel will grow to 6.8 million tonnes by FY30, while per capita consumption is expected to be in the range of 4.5-5.5. kg by FY30. Sharing his outlook for the sector, Krishnamurti said the regular demand, there are some new areas like green hydrogen, bio fuels and renewable energy, urban infra and smart cities and tunnels. Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the three-day event. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
6 days ago
- Business
- Time of India
Domestic stainless steel consumption grows 84 pc in 5 years to hit 4.8 mn tonnes in FY25: ISSDA
Domestic stainless steel consumption has registered a growth of 84 per cent over the last five years to reach 4.80 million tonnes in FY 2024-25, industry body Indian Stainless Steel Development Association ( ISSDA ) has said. The demand has been driven by sectors like infrastructure, railways, airports, metros among others, ISSDA President Rajamani Krishnamurti said in a presentation at the ongoing Global Stainless Steel Expo (GSSE) 2025. As per the data, in FY 2020-21 the consumption of stainless steel in India was at 2.61 million tonnes. It rose to 3.46 million tonnes (a rise of 33 per cent (y-o-y) in FY 2021-22. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo The demand grew to 3.94 million tonnes in 2022-23 (14 per cent rise y-o-y) and touched 4.49 million tonnes mark in 2023-24 (14 per cent y-o-y) before reaching 4.80 million tonnes in the financial year ended March 31, 2025. "The demand has been mainly on the back of strong growth in consumption from sectors such as building and construction, infrastructure projects, structural and rebar, process industry, railways and transports," Krishnamurti said. Live Events The per capita steel consumption has grown 36 per cent in the last five fiscal years from 2.5 kg in FY21 to 3.4 kg in FY25, he said. He further said that the demand for stainless steel will grow to 6.8 million tonnes by FY30, while per capita consumption is expected to be in the range of 4.5-5.5. kg by FY30. Sharing his outlook for the sector, Krishnamurti said the regular demand, there are some new areas like green hydrogen, bio fuels and renewable energy, urban infra and smart cities and tunnels. Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the three-day event. PTI
Time of India
6 days ago
- Business
- Time of India
Stainless steel industry pushes for dumping duty
India's stainless steel industry is engaging with the Centre to impose an anti-dumping duty, with an application expected this month. Ratan Jindal emphasizes the need for safeguards to encourage investment as domestic capacity utilization hovers around 60%, while imports account for 30% of consumption. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: India's stainless steel industry is in talks with the Centre for imposition of an anti-dumping duty, and is likely to submit an application this month, said Vijay Sharma, director of corporate affairs, Jindal Stainless . Meanwhile, company chairman Ratan Jindal said the industry needs safeguards to retain investment Indian Stainless Steel Development Association will be submitting the application to the Directorate General of Trade Remedies, which will then initiate an investigation, Sharma Ratan Jindal, Chairman of Jindal Stainless , said that for the industry to reach its full potential, it is imperative that producers are confident of investing."When domestic capacities are lying idle and 30% of the domestic consumption is still coming from imports - future investment in stainless steel is bound to get impacted," he said at the Global Stainless Steel Expo in the city on consumed 4.85 million tonne of stainless steel in FY25, with imports for the year at around 1.73 million tonne, up 3% as compared to the previous Indonesia, Vietnam and South Korea were among the countries from which stainless steel came into domestic industry has the capacity to produce around 7.85 million tonne of stainless steel each year, with current capacity utilisation at around 60%.Jindal Stainless, meanwhile, has an annual production capacity of 3 million tonne, and has announced investments to raise this to 4.2 million tonne. The country's largest producer of stainless steel in currently utilising close to 80% of its capacity.
Time of India
29-05-2025
- Business
- Time of India
Forging the Future: Anitha Raghunath on GSSE 2025 and India's Stainless Steel Rise
Anitha Raghunath, Founder & Managing Director of Virgo Communications & Exhibitions, has been driving innovation and growth since 2004. She leads flagship events like the Global Stainless Steel Expo. Let's hear her insights on the upcoming GSSE 2025 in Mumbai. Q1: What is the Global Stainless Steel Expo (GSSE) 2025, and why is it a milestone for the industry? The Global Stainless Steel Expo (GSSE) 2025 is a landmark event uniting the stainless steel value chain and user industries. Scheduled for June 4–6 in Mumbai, it is expected to host over 15,000 stakeholders including CEOs, technocrats, officials, and buyers. As stainless steel becomes vital across infrastructure, transport, defence, and energy sectors, GSSE offers a key platform to showcase innovations, foster partnerships, and shape India's industrial growth and global manufacturing leadership. Q2: What makes GSSE globally relevant? India is one of the fastest-growing players in the global stainless steel sector, with a strong domestic market and expanding exports. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo GSSE 2025 leverages this momentum by connecting Indian innovation with global demand. With over 200 exhibitors and global thought leaders, it aligns international trends and sustainability goals with India's emergence as a key manufacturing hub and solution provider. GSSE serves as the bridge between India and global partnerships. Q3: How is India's stainless steel growth making it a global hub, and why is the material strategic today? India, the world's second-largest stainless steel producer and a major exporter, had an industry valued at USD 22.4 billion in 2023, with a projected CAGR of 7.29% through 2030. Driven by demand from construction, mobility, EVs, renewables, and defence, stainless steel plays a key role. GSSE 2025 acts as a strategic platform for this growth. Durable, recyclable, and low-maintenance, stainless steel supports green infrastructure, healthcare, transport, and urban development, driving sustainable growth and circular economies. Q4: What are India's stainless steel capacity goals, and how does GSSE support them? India has outlined an ambitious plan to expand its stainless steel capacity from 6.6–6.8 million tonnes to 9.5 million by 2030, and 20 million tonnes by 2047. This aligns with growing domestic demand driven by infrastructure, urbanization, energy, and public projects. GSSE plays a key enabling role by fostering collaboration among manufacturers and policymakers to support both domestic and export growth. Q5: What is the Stainless Steel Summit, and who benefits most? The GSSE 2025 Stainless Steel Summit brings experts together to explore stainless steel's impact on rural development, transport, the blue economy, and digital infrastructure. It supports sectors like construction, EVs, aerospace, defence, pharma, renewables, and heavy engineering—industries that rely heavily on stainless steel. It's where these stakeholders connect and collaborate. Q6: Does GSSE engage with the government on stainless steel policy? Absolutely. GSSE is a dynamic platform for policy dialogue. Through the Stainless Steel Summits, the GSSE event fosters alignment between government and industry. These engagements help address regulatory challenges and pave the way for a more supportive ecosystem for growth and innovation. Q7: How is GSSE accelerating India's stainless steel growth? With an annual growth rate of 8–9%, India is already outpacing global averages. GSSE not only accelerates but drives India's narrative as a global hub for stainless steel innovation, positioning it as a manufacturing base and future-ready solution provider for global infrastructure and sustainability goals. Q8: What collaboration and business opportunities does GSSE offer? GSSE transforms ideas into tangible outcomes. Through CEO roundtables, B2G meetings, and deep-dive technical sessions, it becomes a space where innovation meets implementation. Whether you're a manufacturer, policymaker, or investor, GSSE connects you with collaborators and insights needed to advance your goals. Q9: How does GSSE promote sustainability? GSSE promotes sustainability by showcasing green technologies, hosting sessions on low-emission production, and honoring eco-friendly innovations through its Sustainability Awards. Q10: What role does Virgo Communications & Exhibitions play? Virgo Communications & Exhibitions is the visionary force behind GSSE. With a legacy of curating impactful platforms, Virgo has positioned GSSE as more than just an expo—it's a movement. The goal is clear: to champion stainless steel as a future-ready, sustainable, and strategic material shaping the world of tomorrow. Q11: How does GSSE reward excellence in the sector? The Global Stainless Steel 2025 Awards recognize outstanding achievements in sustainability, innovation, design, and functionality, highlighting projects and applications that shape the industry's future. If you'd like, I can also help make it more concise or adjust the tone! Check out our list of the latest Hindi , English , Tamil , Telugu , Malayalam , and Kannada movies . Don't miss our picks for the best Hindi movies , best Tamil movies, and best Telugu films .
