India has recently established itself as the second largest stainless steel producer in the world. Mohit Aggarwal, the Chief Managing director of Aastha Group, believes that it is an important milestone in the continuing growth and success of the country.
As per the data released by the International Stainless Steel Forum (ISSF), a non-profit research and development organization, at their annual conference held recently, India surpassed Japan as the second-biggest producer in 2016. With a significant growth of about 9% over 3 million tonne steel produced in 2015, India’s stainless steel production rose to 3.32 million tonne in 2016.
Mohit Aggarwal emphasizes that India’s apex stainless steel industry association, ISSDA has led various key industry initiatives and causes to increase the domestic demand especially in architecture, building and construction, automotive, railways and transport together with the process industry.
Expressing his gratitude, KK Pahuja, the President of Indian Stainless Steel Development Association (ISSDA), who attended the ISSF annual conference said, “This is a great moment for the Indian stainless steel industry. 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.”
He further added, “Increase in exports of stainless steel from India to the world market especially Europe and Americas has established Indian producers capable of producing quality material from their latest state of the art mills meeting stringent quality parameters.”
Mohit Aggarwal of Aastha Group highlights that India boasts of various other stainless steel players such as SAIL- Salem, Jindal Stainless, BRG, Viraj Profiles Ltd, Sunflag Iron & Steel and Panchmahal Steel.
As per an ISSDA official, “The government initiatives like ‘Make in India’, smart cities, which focus on improving sanitation & waste management facilities, building new infrastructure, etc, are likely to boost the stainless-steel industry in future.”