India's stainless steel industry set for 8-9% annual growth: Jindal Stainless CEO
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Update time : 2024-09-06 16:28:17
Abhyuday Jindal, Managing Director of Jindal Stainless, India's largest stainless steel producer, expects the country's stainless steel industry to grow by 8-9% annually, driven by five key factors. These include increased public infrastructure spending, with the government focusing on durable and low-maintenance projects like bridges and highways.
Sustainability is also a factor, as stainless steel, made primarily from recycled materials, is favored for its durability and recyclability.
Additionally, growth in India's railway sector, defense and aerospace industries, and expanding manufacturing sectors, such as food processing and pharmaceuticals, will further boost stainless steel demand in the coming years.
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