India becomes second largest stainless steel producer in the world

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stainless steel producer
Stainless steel production

India overtook Japan to become the second-largest stainless steel producer in the world after China in 2016, according to data released by the International Stainless Steel Forum (ISSF).

India’s stainless steel production rose to 3.32 million tons for 2016 showing an impressive growth of about 9% over 3.0 million tons achieved in 2015, ISSF said at their annual conference in Tokyo, Japan.

The International Stainless Steel Forum (ISSF) is a non-profit research and development organization, which was founded in 1996 and which serves as the focal point for the international stainless steel industry.

Indian Stainless Steel Development Association (ISSDA) urged continuous policy support from the government to take the Indian stainless steel industry to newer heights. ISSDA is also planning to continue to work with all stakeholders to promote stainless steel based solutions for sustainability and growth.

ISSDA is India’s apex stainless steel industry association and has been leading key industry initiatives and causes to enhance domestic demand especially in architecture, building and construction, automotive, railways and transport together with the process industry

Several government initiatives like ‘Make in India’, smart cities, focus on improving sanitation & waste management facilities, building new infrastructure are likely to give a strong push to the stainless-steel industry in future.

Source: economictimes.indiatimes.com

Image source: Recycling International

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