Indian stainless steel industry is the second largest in the world after China. Stainless Steel was produced for the first time in India during the late sixties of the last century at Alloy Steel Plant (ASP) at Durgapur, a unit of India’s public sector giant Steel Authority of India Limited (SAIL), formerly known as Hindustan Steel Limited or HSL. Now the leading players of Indian stainless steel industry are SAIL, Salem, Jindal Stainless, BRG, Viraj Profiles Ltd, Sunflag Iron and Steel, and Panchmahal steel.
The Indian Stainless Steel Development Association (ISSDA) founded in November, 1989 by seven leading stainless steel producers in India is the country’s apex stainless steel industry association which has been leading key industry initiatives and causes to enhance domestic demand in architecture, building and construction, automotive, railways and transport together with the process industry. One of the key roles of ISSDA is to provide technical support and assistance in establishing good quality fabrication facilities of stainless steel, consumer awareness about the use and benefits of stainless steel in India. ISSDA urges continuous policy support from the government to take the Indian stainless steel industry to newer heights.
The present government in India is also taking several initiatives to give a strong push to the stainless steel industry. According to the Indian Stainless Steel Development Association (ISSDA), several government initiatives like 'Make in India', smart cities, focus on improving sanitation and waste management facilities, building new infrastructure etc are likely to give a strong push to the stainless steel industry in future. National Steel Policy released by the Ministry of Steel and implementation of GST (Goods and Service Tax) will give impetus to Indian stainless steel industry to gain long term benefits. Increase in exports of stainless steel from India to the world market especially Europe and Americas has established Indian stainless steel producers capable of producing quality material from their latest state of the art mills meeting stringent quality parameters.
India overtook Japan as the second-biggest producer in 2016, according to data released by the International Stainless Steel Forum (ISSF) at their annual conference held in the May this year at Tokyo, Japan. India’s stainless steel production rose to 3.32 million tonnes for 2016, showing an impressive growth of about 9 per cent over 3.0 million tonnes achieved in 2015. Out of all stainless steel types, India is the largest producer of 200 series in the world.
Also read Categories and Types of Stainless Steels: Compositions and Properties
A large portion of India’s stainless steel exports belongs to the 200 Series. Increase in exports of stainless steel from India to the world market, especially Europe and Americas, has established Indian producers capable of producing quality material from their mills, meeting stringent quality parameters.
According to ISSDA sources, although India is the world's second-largest producer-consumer of stainless steel, yet there is a huge scope for marketing in India itself since the nation's average per capita consumption of stainless steel is still very low (around 2.5 kg, whereas the global average is 5 kg).