International Stainless Steel Forum (ISSF) has recently released a data revealing that India has overtaken Japan, to become the second largest stainless steel producer after China.
Indian stainless steel production reflected a significant growth of around 9%, amounting to 3.32 MnT of production in 2016 against 3 MnT in 2015.
Speaking on the subject at hand, KK Pahuja, President, Indian Stainless Steel Development Association (ISSDA), said that several government initiatives have given the stainless steel industry a push towards long-term benefit. Adding to the same, he also said that ‘Make In India’ initiative by present Government along with plans for building smart cities as well as new infrastructure projects will support further growth in the Indian stainless steel in the future.
Highlighting the high quality production by Indian stainless steel mills, he added, “The stainless steel manufactured in India has also been in line with expected quality parameters with increase in export of the same to the Europe and America.”
Moreover, National Steel Policy by Ministry of Steel has also outlined a road-map to boost steel production in India. As per the policy, domestic products will be given preference for Government tenders, and give further boost to the Indian Stainless Steel industry.
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