India’s stainless steel demand expected to surge in futures
December 30, 2024
Due to the growth of processing, infrastructure, and railways, India’s demand for stainless steel has increased constantly. According to statistics from the Indian Stainless Steel Development Association (ISSDA), stainless steel usage in India increased from 4.02 million tons in fiscal year 2023 to 4.46 million tons in fiscal year 2024, an annual increase of 11%. The per capita consumption was 3.1 kg in the fiscal year 2024, and it is expected that it will rise to 4.5-5.5 kg in the fiscal year 2030.
