Latest news with #Krishnamurti
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Business Standard
5 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
5 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
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Business Standard
6 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
6 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
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
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.
