Dr Vijay Kalantri, President, All India Association of Industries (AIAI), and Chairman of World Trade Centre (WTC), shares his thoughts about the future of stainless steel sector and the role of Global Stainless Steel Expo (GSSE) as an industry platform.
India’s stainless steel industry is on the cusp of transformation. Propelled by strategic government initiatives, a surge in domestic production and a growing global demand for sustainable materials, stainless steel is increasingly becoming a part of all the major industries in India. As the world’s second-largest producer of stainless steel, India is poised to become a global leader in this sector.
The Government of India has been instrumental in this growth trajectory. The National Steel Policy (NSP) 2017 aims to increase steel production capacity to 300 million tonnes by 2030-31, emphasising self-reliance and reduced import dependency. Complementing this, the Production-Linked Incentive (PLI) scheme for specialty steel is set to attract investments worth ₹40,000 crore, adding 25 million tonnes of capacity by 2026-27. We have already crossed 140 million tonnes capacity. We are the second largest producer of steel. Infrastructure growth has been instrumental in growth of steel sector.
Environmental sustainability is at the forefront of the industry’s evolution. The Ministry of Steel’s ‘Green Steel Mission’, with an estimated outlay of ₹15,000 crore, aims to reduce carbon emissions and promote the use of renewable energy in steel production. Additionally, the newly introduced green steel taxonomy classifies steel based on carbon emissions, encouraging manufacturers to adopt cleaner technologies.
Stainless steel’s inherent properties—corrosion resistance, recyclability and durability—make it indispensable across various sectors, including infrastructure, automotive, and renewable energy. Government initiatives like the Smart Cities Mission and the National Infrastructure Pipeline are driving demand for stainless steel in sustainable urban development and water infrastructure projects.
On the global front, India is enhancing its export capabilities. Efforts to align with international standards and the imposition of a 12 per cent safeguard duty on certain steel imports are steps toward protecting domestic industries and boosting exports.
The upcoming Global Stainless Steel Expo (GSSE) 2025 is a pivotal event for the industry as it offers a platform to showcase innovations, foster collaborations, and discuss sustainable practices in stainless steel production. It embodies the ‘Make in India’ vision, promoting domestic manufacturers to a global audience.
As we look ahead, the convergence of supportive policies, sustainable practices and global collaborations positions India’s stainless steel industry for unprecedented growth. AIAI remains committed to supporting this journey, fostering an ecosystem that champions innovation, sustainability and global competitiveness.
