While corrosion leads to loss of ₹12 lakh crore annually, stainless steel capacity utilisation is just 60-65%, industry pointed out
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ozgurdonmaz
The stainless steel industry has urged the Centre to introduce a National Stainless Steel Policy and a National Anti-Corrosion Policy to strengthen domestic manufacturing and accelerate the adoption of corrosion-resistant materials in infrastructure.The industry claimed that rampant corrosion leads to a loss of ₹12 lakh crore annually even as stainless steel capacity in India remains under-utilised amid rising imports.India has an installed stainless steel production capacity of about 7.5 million tonnes, but operates at only 60-65 per cent capacity utilisation, while 25-28 per cent of domestic demand are met through imports, predominantly from China, said industry leaders at an event to announce a partnership between the Indian Stainless Steel Development Association (ISSDA) and the Global Stainless Steel Expo, organised by Virgo Communications and Exhibitions.Rajamani Krishnamurti, President, ISSDA, said stainless steel continues to be treated under the broader steel category despite having distinct manufacturing processes and end-use applications. A separate National Stainless Steel Policy is essential to ensure raw material security, encourage investments and enable India to become a leading global producer of value-added stainless steel, he said.India loses nearly 4 per cent of its GDP, estimated at about ₹12 lakh crore annually, due to corrosion-related damage across public infrastructure, transportation, industrial assets and utilities, he said.The National Anti-Corrosion Policy should encourage lifecycle-based infrastructure planning and the adoption of corrosion-resistant materials to lower maintenance costs.Anitha Raghunath, Managing Director, Virgo Communications and Exhibitions, said the collaboration brings together the technical knowledge of ISSDA, and GSSE expertise to provide the platform for connecting manufacturers, users, technology providers and policymakers.“Together, we aim to promote wider adoption of stainless steel across sectors, encourage knowledge sharing and create new opportunities for industry growth in India and overseas,” she said.Rajeev Garg, Group Head – Marketing & Sales, Jindal Stainless, said the partnership comes at a crucial time when the domestic industry requires a stronger collective voice to address policy issues and protect investments.Imports from China, Vietnam and others are also putting pressure on domestic manufacturers, he said.Published on July 1, 2026
