India 8th biggest stainless producer

India has emerged as a top ten stainless steel producer in the world. With a production of 1.1 million tonnes during 2002, the country has been ranked 8th in the world. In 2002, the country crossed the 1 million tonne mark in stainless steel production. In 2001, the production stood at 770,000 tonnes, according to Heinz Pariser, a Germany-based research outfit. It has projected 2003 production higher at 1.16 million tonnes. According to the Indian Stainless Steel Development Association (ISSDA), the stainless steel industry in the country has also emerged as a big exporter with overseas sales totalling Rs 2500 crore during 2002-03. “The export of stainless steel hot-rolled coils, cold-rolled coils and long products was around Rs 1500 crore, while the export of value added items like kitchen utensils, forgings and castings accounted for another Rs 1000 crore,â€? ISSDA president N C Mathur said. Among the domestic stainless steel companies, Jindal Strips clocked the highest exports of Rs 750 crore during the year. Jindal Strips is among the top 15 stainless steel producers in the world. It has an integrated facility to produce half-a-million tonne of stainless steel at Hissar in Haryana. Japan was the largest producer of stainless steel in the world during 2002 with an output of 3.835 million tonnes, followed by the US with a production of 2.185 million tonnes. Germany came third with 1.614 million tonnes. Though stainless steel accounts for only 2.5% of the world’s steel production, it accounts for 12.5% of the global steel turnover.

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