ISSDA seeks exclusive policy for stainless steel industry
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Update time : 2024-12-12 16:57:37
The Indian Stainless Steel Development Association (ISSDA) is promoting the formulation of an exclusive policy for the stainless steel industry. ISSDA president Rajamani Krishnamurti said that they have recommended to the Ministry of Steel to introduce a separate policy for stainless steel, focusing on key areas such as raw material supply security, demand improvement, and production capacity construction.
Currently, the installed capacity of this industry is 7.5 million tons, and the capacity utilization rate exceeds 60%, but 30% of demand relies on imports, mainly from China and Vietnam.
Krishnamurti emphasized that with the current capacity utilization rate of only 60%, the government needs to create a level playing field, release the potential of domestic industries, and enhance India's position in the global stainless steel market.
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