The International Stainless Steel Forum(ISSF) has announced that India has pipped Japan to become the second largest steel producer in the World which is dominated by China.
The data was released in the annual conference that was held between May 14-19 in Tokyo,Japan. The stainless steel sector in India has registered a growth of 9% from 2015 to 2016 which saw the production rose from 3 million to 3.32 million tonnes.
“Our sustained efforts in collaboration with industry has made this possible” the Indian Stainless Steel Development Association (ISSDA) said in its statement.
“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,” ISSDA president K K Pahuja said. He further added “Several government initiatives like ‘Make in India’, smart cities, focus on improving sanitation and waste management facilities, building new infrastructure etc is likely to give a strong push to the stainless-steel industry in future”.
ISSDA is India’s apex stainless steel industry association which aims at enhancing the domestic demand in the field of architecture, automotive, railways, transport and predominantly in the construction. Arcelor Mittal which is owned by Indian Lakshmi Mittal is the World’s Largest Steel Producer.