India’s stainless steel consumption increased by 8% year-on-year in FY 2024-25, reaching 4.85 million tonnes, according to ISSDA data.
July 1, 2025
India’s stainless steel consumption grew to 4.85 million tonnes in FY 2024-25, reflecting an 8% year-on-year growth, according to the Indian Stainless Steel Development Association (ISSDA). Expressing confidence in growth of the Indian market, the association said despite macroeconomic and political challenges, the stainless steel market in the country continued to remain robust and among the fastest-growing markets globally.
“Currently, the installed capacity for stainless steel production is 7.5 million tonnes and the utilisation is 60 percent. There is significant potential for ramp-up in production, provided the right policy environment and demand momentum is sustained”, said Rajamani Krishnamurti, President of ISSDA.
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ISSDA is projecting stainless steel consumption to rise to 12.5–12.7 million tonnes by FY 2040 and 19–20 million tonnes by FY47, aided by expanding applications in green energy, ethanol, water storage, defence, and aerospace.
