India’s stainless steel market is expected to reach approximately US$15.8 billion by 2030 with 9.1% annual growth. Domestic plants operate at only 60% to 65% of their 7.5 million-ton capacity, allowing imports, mostly from China, to supply 25% to 28% of local demand.
The Indian Stainless Steel Development Association (ISSDA) President Rajamani Krishnamurti said that India’s clean energy ambitions cannot be achieved without durable and safe materials. He stated stainless steel is indispensable for green hydrogen, ammonia handling, and ethanol production, giving the nation a tremendous opportunity to become a global hub for specialized stainless steel products.
To capture this demand, ISSDA collaborated with the Global Stainless Steel Expo (GSSE). The organizations plan to hold technical conferences and buyer-seller meets across infrastructure, mobility, and renewable energy sectors. They also renewed calls for a National Stainless Steel Policy to secure domestic raw materials.