New Delhi [India], July 20 (ANI): Indian Stainless Steel Development Association (ISSDA) and the Global Stainless Steel Expo (GSSE) have partnered to position stainless steel as a critical enabler of India’s clean energy transition, as per a statement by ISSDA.
As per the statement, the corrosion-resistant metal would be crucial for building green hydrogen production, storage and transportation infrastructure while reiterating the need for a National Stainless Steel Policy to strengthen domestic manufacturing, secure critical raw materials and support India’s goal of becoming a global clean energy powerhouse.
With this collaboration, both the organizations will focus on promoting newer applications of stainless steel across green hydrogen, renewable energy, mobility, infrastructure and industrial processing, while connecting manufacturers, EPC companies, technology providers, policymakers and global buyers through a common industry platform.
“Through this partnership, ISSDA and GSSE will jointly organise technical conferences, industry outreach programmes, buyer-seller meets and international collaborations to promote advanced stainless steel applications across new-age industries,” the statement reads.
As per industry leaders, stainless steel is increasingly preferred for green hydrogen, ammonia, ethanol, chemical, LNG and renewable energy infrastructure due to its corrosion resistance, strength and durability.
The release further noted, India’s stainless steel market will likely reach nearly USD 15.8 billion (around Rs 1.36 lakh crore) by 2030, growing at a CAGR of 9.1 per cent. However, despite an installed capacity of 7.5 million tonnes, capacity utilisation remains at 60-65 per cent, while imports–primarily from China–meet 25-28 per cent of domestic demand.
“With India aiming to become a global leader in clean energy, the demand for high-performance stainless steel is expected to grow significantly over the coming decade,” the statement said.
Rajamani Krishnamurti, President, Indian Stainless Steel Development Association (ISSDA), said, “India’s clean energy ambitions cannot be achieved without advanced materials that offer durability, safety and performance. Stainless steel is indispensable for green hydrogen, ammonia handling, ethanol production and several emerging technologies. As these sectors expand, India has a tremendous opportunity to become a global manufacturing and supply hub for specialised stainless steel products.” (ANI)
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