ISSDA President, Rajamani Krishnamurti on India’s Growing Stainless Steel Demand
India’s stainless steel consumption has recorded strong structural growth, rising 84% from 2.61 million tonnes in FY2020-21 to around 4.8 million tonnes in FY2024-25. According to Rajamani Krishnamurti, President, Indian Stainless Steel Development Association (ISSDA), demand is expected to grow by around 7–8% annually over the medium term and reach approximately 6.8 million tonnes by FY2030.
The growth has been supported by infrastructure, railways, metros, airports, construction, process industries and transportation. At 4.8 million tonnes, domestic consumption has already reached about 70% of the projected FY2030 level, leaving further room for expansion.
ISSDA Raises Concerns Over Imports
ISSDA has consistently advocated a level playing field for Indian stainless steel manufacturers and has engaged with the Government and the Directorate General of Trade Remedies (DGTR) over unfairly priced and dumped imports.
In 2025, the association filed an anti-dumping application covering cold-rolled stainless steel from China, Indonesia and Vietnam. DGTR subsequently initiated an investigation, which remains ongoing.
ISSDA has stated that its objective is not to restrict legitimate trade or competition, but to ensure that Indian manufacturers are not disadvantaged by subsidised, dumped or sub-standard imports. The association is also supporting measures aimed at improving the competitiveness of domestic producers through technology, raw-material security, scale and value-added manufacturing.
Demand Growth Across Key Sectors
India’s per-capita stainless steel consumption increased from 2.5 kg in FY2020-21 to approximately 3.4 kg in FY2024-25. However, it remains below the global average of around 6–6.5 kg. According to ISSDA, future growth is expected across infrastructure, railways and metros, construction, automobiles and transportation, water infrastructure, healthcare and pharmaceuticals, food processing, renewable energy, green hydrogen, biofuels, ports, tunnels and industrial applications.
The association is also working with BIS and other technical stakeholders to strengthen Indian standards for stainless steel applications. One significant milestone is IS 16651, covering high-strength deformed stainless steel bars and wires for concrete reinforcement.
Structural Applications and Infrastructure
ISSDA sees growing momentum for structural stainless steel in railways, metros, bridges, airports, urban infrastructure, coastal infrastructure and architectural structures. The association has highlighted applications such as bridges, façades, roofs, handrails, public infrastructure and water-related structures. Corrosion-resistant stainless steel reinforcement is another area of focus, particularly for chloride-rich coastal environments. ISSDA is working to create greater awareness about appropriate stainless steel grades, including 410L, 2304, 2205, 304 and 316L, based on service conditions.
The Pamban Bridge is cited as an example of structural application, with Indian Railways specifying 2205 duplex stainless steel for four spans/girders because of the highly corrosive marine environment.
Focus on Lifecycle Value
ISSDA advocates evaluating stainless steel beyond its initial purchase price. Its approach considers material cost, fabrication, installation, maintenance, corrosion protection, repairs, replacement, downtime and eventual end-of-life value. While stainless steel can have a higher initial price, its corrosion resistance, durability, reduced maintenance and longer service life can make it more economical over an asset’s lifetime.
ISSDA is also focusing on skill development through fabricator training programmes, technical workshops and knowledge-sharing sessions. Its March 2025 MoU with the Indian Institute of Welding (IIW-India) is aimed at enhancing knowledge, training and certification in stainless steel welding and fabrication.
