In the heartland of burgeoning industry, a resplendent saga of growth unfurls as India's stainless steel consumption takes a triumphant stride, soaring by an impressive 10% during the previous fiscal year, culminating in a monumental 4 million metric tons, reports Mint. A symphony of data orchestrated by the Indian Stainless Steel Development Association paints a portrait of progress, where per capita stainless steel consumption, akin to the ascent of a phoenix, ascends from 2.5 kg to 2.8 kg. This crescendo, a tapestry of elevated demand, is interwoven with the footprints of sectors such as Railways, process industries, and ABC (architecture, building, and construction), where the allure of eco-friendly metal holds sway.In this canvas, India emerges as a beacon of surpassing prowess, outshining the global benchmark, where stainless steel production recoiled by a staggering 5.2%, dwindling from 58.2 million tonnes in 2021 to 55.2 million tonnes in 2022. Amidst this backdrop, the ISSDA resonates with the symphony of growth, envisaging novel pathways where the incandescence of alternative energy, ethanol, hydrogen production, and water storage and distribution shall fan the flames of demand for stainless steel in the days to come.
In the heartland of burgeoning industry, a resplendent saga of growth unfurls as India's stainless steel consumption takes a triumphant stride, soaring by an impressive 10% during the previous fiscal year, culminating in a monumental 4 million metric tons, reports Mint. A symphony of data orchestrated by the Indian Stainless Steel Development Association paints a portrait of progress, where per capita stainless steel consumption, akin to the ascent of a phoenix, ascends from 2.5 kg to 2.8 kg. This crescendo, a tapestry of elevated demand, is interwoven with the footprints of sectors such as Railways, process industries, and ABC (architecture, building, and construction), where the allure of eco-friendly metal holds sway.In this canvas, India emerges as a beacon of surpassing prowess, outshining the global benchmark, where stainless steel production recoiled by a staggering 5.2%, dwindling from 58.2 million tonnes in 2021 to 55.2 million tonnes in 2022. Amidst this backdrop, the ISSDA resonates with the symphony of growth, envisaging novel pathways where the incandescence of alternative energy, ethanol, hydrogen production, and water storage and distribution shall fan the flames of demand for stainless steel in the days to come.
