India’s Stainless Steel Demand To Grow 7–8% Annually; GSSE 2025 Highlights Industry Optimism

India’s stainless steel industry is poised for robust growth, with demand expected to rise by 7–8% year-on-year over the next three years, according to the Indian Stainless Steel Development Association (ISSDA).

The projection was shared during the ongoing Global Stainless Steel Expo 2025 (GSSE 2025), where stakeholders from around the world have convened to discuss future trends and growth potential.

Rajamani Krishnamurti, President of ISSDA, stated that stainless steel consumption in India touched 4.8 million tonnes in FY25, reflecting an 8% year-on-year growth, a clear signal of strong industrial momentum.

Economic Growth to Boost Steel Demand

Krishnamurti emphasized that India is likely to maintain its position as the fastest-growing major economy globally, which will translate into continued growth for the stainless steel sector. “The stainless steel demand is expected to grow by 7–8% in the next 2–3 years,” he said, adding that India’s per capita stainless steel consumption remains low at 3.4 kg, compared to the global average of over 6 kg, underscoring the vast untapped potential.

Infrastructure Boom to Fuel Expansion

The government’s aggressive infrastructure spending is expected to be a major demand driver. With capex-to-GDP reaching 3.3% in FY24, sectors such as railways, tunnels, ports, airports, highways, and roads present significant opportunities for stainless steel application.

“The construction market in India is expected to reach USD 1.42 trillion by 2027, growing at a CAGR of 17.26%. These numbers highlight the massive scope for stainless steel,” Krishnamurti added. He also pointed to green hydrogen infrastructure as a growing avenue for stainless steel usage.

India’s Global Standing in Stainless Steel

India is currently the second-largest consumer of stainless steel globally, and its melt production ranks third, trailing only China and Indonesia. Krishnamurti also noted the inherent advantages of stainless steel, highlighting its durability, low maintenance, cost-effectiveness over the lifecycle, and full recyclability as ideal characteristics for infrastructure and industrial use.

GSSE 2025 Brings Global Focus to Indian Market

The GSSE 2025 has drawn participation from over 10,000 industry leaders, policymakers, government officials, and experts from India and abroad. As the country aims to strengthen its infrastructure and position itself as a global manufacturing hub, the stainless steel sector appears set for sustained growth in the years ahead.

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