India overtook Japan to become the second-largest 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.
“This is a great moment for the Indian stainless steel industry,” KK Pahuja, president, Indian Stainless Steel Development Association (ISSDA) said. “ISSDA urges continuous policy support from the government to take the Indian stainless steel industry to newer heights. ISSDA will continue to work with all stakeholders to promote stainless steel based solutions for sustainability and growth.”
“Several government initiatives like ‘Make in India’, smart cities, focus on improving sanitation & waste management facilities, building new infrastructure are is likely to give a strong push to the stainless-steel industry in future,” Mr. Pahuja added.
