International Stainless Steel Forum expects the stainless steel industry to return to its normal production level by 2011. ISSF expects increase of 11% to 12% in the volume of stainless steel production.

According to ministry of steel, India has emerged as the fifth largest producer of steel in the world and is likely to become the second largest producer of crude steel by 2015-16. It is envisaged that in the next five years, the demand will grow at higher annual average growth rate of over 10%.

With expanding consumer market, the Indian steel industry is likely to receive huge domestic and foreign investments. Nearly 222 MoUs have been signed between the investors and various state governments, mostly in Orissa, Jharkhand, Chhattisgarh and West Bengal.

A number of existing units are going in for expansion with additional capacities for production of ferro alloys and a number of new units are coming up, particularly in Visakhapatnam in Andhra Pradesh and Haldia in West Bengal.

(Sourced from www.economictimes.indiatimes.com)