The stainless-steel industry is poised for rapid expansion and capacity augmentation, and technological innovation and the creation of value-added applications will play a vital role in India's journey to become a global leader in the industry, industry leaders said.

The stainless steel industry in India is at an important stage of growth, and with continued investment in manufacturing capacity, the latest technologies, and product innovations, it will receive a significant boost in competitiveness. If these are scaled up in a coordinated manner, India can become a global manufacturing hub for stainless steel, said the Managing Director of Jindal Stainless, Abhyuday Jindal.

In India, around 5.16 million tonnes of stainless steel is produced, while global production is around 64.2 million tonnes, according to the Indian Stainless Steel Development Association (ISSDA). Global per capita consumption is approximately 6 kg, while India's is lower at 3.4 kg, indicating ample room for growth in domestic consumption.

While the use of stainless steel in infrastructure, construction, metro rail, and real estate is common, its applications are much broader, said ISSDA President Rajamani Krishnamurti. He pointed out the material's increasing relevance in new and sustainability-driven sectors, such as the production of green hydrogen, food processing, and pharmaceuticals, where durability, hygiene, and corrosion resistance are essential.

Now being the second largest consumer of stainless steel, India is taking steps towards increasing innovation and manufacturing capabilities as well as improving its exports through the collaboration of industry participants. Given the participation of the ISSDA in the Global Stainless-Steel Expo, which falls under the aegis of the GSSE, there is likely to be an increase in momentum in this direction.

The expo embodies the ethos of "Make in India," an initiative that aims to provide a common platform for Indian and international manufacturers to showcase their capabilities and interact with various stakeholders in the industry, said Anitha Raghunath, Director and Organiser of GSSE. She reiterated the need for enhanced coordination and cooperation between policymakers, industry, and market platforms to accelerate India's journey towards becoming a global leader in the stainless-steel industry.