India: Stainless steel capacity to hit 20 mnt by CY’47 – ISSDA

According to Indian Stainless Steel Development Association (ISSDA), India’s stainless steel capacity, at 7.5-7.7 mnt in CY’24, is set to reach 20 mnt by CY’47, driven by demand from construction, infrastructure, and manufacturing. Per capita consumption is expected to rise from 2.5 kg to 12 kg by CY’47. Additionally, Jindal Stainless plans to add capacity of 1.1 mnt by end-CY’25, aligning with India’s $40-trillion economic goal.