At the Global Stainless-Steel Expo (GSSE) 2025 held in Mumbai, leaders from India’s stainless-steel sector have called for the establishment of a dedicated National Stainless-Steel Policy. The objective is to bolster domestic manufacturing, drive innovation, and enhance global competitiveness.
Rajamani Krishnamurti, President of the Indian Stainless Steel Development Association (ISSDA), highlighted that India’s stainless-steel consumption reached 4.8 million tonnes in FY2024–25, marking an 8 per cent year-on-year growth. However, nearly 30 per cent of this demand is met through imports, leaving domestic production capacities underutilized. Krishnamurti emphasized the need for a policy framework that supports the ‘Make in India’ initiative, safeguards Micro, Small, and Medium Enterprises (MSMEs), and fosters innovation and competitiveness.
Ratan Jindal, Chairman of Jindal Stainless, underscored the expanding role of stainless steel across critical sectors such as nuclear energy, medical technology, renewable energy, and transportation. He proposed a three-pronged strategy: scaling up production, enhancing research and development (R&D) and digitalization, and implementing trade remedial measures to support domestic manufacturers.
Anitha Raghunath, Convenor of GSSE 2025 and Director at Virgo Communications, noted that India’s stainless-steel market, valued at USD 22.4 billion, is rapidly evolving. She emphasized the industry’s potential to drive cross-sector innovation in areas like electric vehicles, aerospace, and the blue economy.
The GSSE 2025, which commenced on June 4 at the Bombay Exhibition Centre, has attracted over 10,000 stakeholders, including industry leaders, policymakers, and global experts. The expo serves as a platform to discuss strategic initiatives aimed at creating a self-reliant and globally competitive stainless-steel ecosystem in India.
