India overtook Japan as the second largest steel producer in the world. Aastha Group’s CMD Mohit Aggarwal expressed his excitement over this recent development that was inferred from the data released by International Stainless Steel Forum. Mohit Aggarwal Aastha Group CMD said, “It’s a matter of great pride and endless opportunity for us. But, let’s not get carried away with this small victory”.
He further added, “Sky’s the limit since we have a great infrastructure, one that can easily challenge the Chinese market”. The International Stainless Forum (ISSF) serves as a center for research and development for the international stainless steel industry. It was found in 1996, and is a strictly non-profit organization.
India produced 3.32 million tons of stainless steel in 2016. Back in 2015, this number was 3 million ton. A year spent in strengthening the roots and the business chain of stainless steel seems to have done the trick. KK Pahuja, the president of Indian Stainless Steel Development Association (ISSDA) attended the ISSF annual conference that featured this news. Mr Pahuja 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.” He added, “ISSDA will continue to work with all stakeholders to promote stainless steel based solutions for sustainability and growth.”
Aastha Group has been a leading contributor to the stainless steel business. They fulfill the domestic and international demands effortlessly, especially for railways, construction, transport and automation. According to the Aastha group CMD, the ‘Make in India’ initiative has played a big role in this development. The National Steel Policy will also provide an impetus for long-term profits and fortification of the steel sector. You can know more about Aastha group here.