India Overtook Japan As The World 2rd Largest Stainless Steel Producer

PTI reported that India has overtaken Japan to become the second largest stainless steel producer in the world after China. According to data released by the International Stainless Steel Forum at their annual conference held on May 14-19, 2017 in Tokyo, India overtook Japan as the second-largest producer in 2016.

India’s stainless steel production rose to 3.32 million tonne for 2016 showing an impressive growth of about 9% YoY over 3 million tonnes in 2015

Indian Stainless Steel Development Association said “Our sustained efforts in collaboration with industry have made this possible.”

ISSDA president K K Pahuja said “This is a great moment for the Indian stainless steel industry. ISSDA urges continuous policy support from the government to take the Indian stainless steel industry to newer heights. ISSDA will continue to work with all stakeholders to promote stainless steel based solutions for sustainability and growth.”

Collected by kaysuns.com