Steel Insight reported that the stainless steel industry of India is likely to witness a boom owing to the development of some of the largest infrastructure projects on the cards.

Mr Ramesh Gopal ED of the Indian Stainless Steel Development Association said that by 2010, just for the development of Indian railways, India is likely to consume 200,000 tonnes per year.

He added that "Metal production was 2 million tonnes last year, of which 7% was stainless. The government has huge plans and we need the material to develop mobile phone masts, bus stations, shopping malls and airports."

According to Mr Gopal, initially Indian authorities were not in favor of the usage of stainless steel in infrastructure owing the corrosion factor. However, they have fully now accepted the product.

He said that "It is the backbone of every middle class home in India. There are 1.3 million cars produced in India every year and that figure will double as people still demand more luxuries and greater urban renewal."

He further added that the existing financial crisis is unlikely to effect stainless steel consumption.