India’s Stainless Steel Industry Seeks National Policy to Boost Manufacturing and Reduce Import Dependence

India’s stainless steel industry has urged the Central government to introduce a dedicated National Stainless Steel Policy and a National Anti-Corrosion Policy, saying the measures are essential to strengthen domestic manufacturing, secure raw material availability and encourage the use of durable materials in infrastructure projects.

The demand was raised during the announcement of a strategic partnership between the Indian Stainless Steel Development Association (ISSDA) and the Global Stainless Steel Expo (GSSE), organised by Virgo Communications and Exhibitions Pvt Ltd in Mumbai. Industry leaders said the collaboration aims to promote wider adoption of stainless steel while creating new opportunities for manufacturers, technology providers and policymakers.

According to the industry, India currently has an installed stainless steel production capacity of around 7.5 million tonnes. However, manufacturing units are operating at only 60 to 65 percent capacity utilisation, while nearly 25 to 28 percent of domestic demand continues to be met through imports, largely from China. Industry representatives believe policy intervention can help improve capacity utilisation and make India more self-reliant in stainless steel production.

ISSDA President Rajamani Krishnamurti said stainless steel requires a dedicated policy framework because it has distinct manufacturing processes, raw material requirements and specialised applications that differ from conventional steel. He added that a separate National Stainless Steel Policy would improve raw material security, encourage fresh investments and position India as a leading producer of value-added stainless steel products.

The industry has also highlighted the economic impact of corrosion, estimating annual losses of nearly ₹12 lakh crore, equivalent to around four percent of India’s GDP. A National Anti-Corrosion Policy, according to industry leaders, would encourage lifecycle-based infrastructure planning and greater use of corrosion-resistant materials, especially in coastal regions where stainless steel offers longer service life and lower maintenance costs.

Industry experts also noted that India’s per capita stainless steel consumption stands at only 3.5 kilograms, significantly below the global average of 6 to 7 kilograms. With continued investments in infrastructure, railways, urban development, renewable energy and manufacturing, stakeholders believe stainless steel will play a vital role in building sustainable infrastructure while generating employment, attracting investments and supporting India’s long-term industrial growth.