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Stainless steel production in India shows impressive growth – Mr Gupta-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
10/24/2017 Stainless Steel Exhibition |
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Recyling International reported that India ranks as the world''s number one importer and consumer of stainless steel scrap not only because of the amount of stainless steel produced in India (it is second only to China) but also because of the very high proportion of scrap to primary use in its production mix, it was underlined at the meeting of the BIR Stainless Steel & Special Alloys Committee in New Delhi.
Mr CP Gupta, chairman and managing director of Ambica Steels which is claimed to be the country''s largest stainless steel producer said that “India represents a big potential market for stainless steel recycling.” He added that “Stainless steel production rose to 3.32 million tonnes in 2016 - an impressive growth of 9% - with stainless steel applications in the building & construction, automotive, railway and transport sectors being the main drivers.”
Mr Gupta argued that India''s demonetisation initiative and the slowdown in manufacturing activity earlier this year had led to a three-year low in GDP growth of 5.7%. However, this seems to have been a short-term blip and the economy ''is bound to grow at 7.5% in the next two years.
-The 19th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
- Stainless Steel exhibition,2018
Stainless Steel exhibition, China Stainless Steel exhibition,
Guangzhou Stainless Steel expo
Guangzhou
Stainless Steel exhibition, 2018 Stainless Steel expo,
China Stainless Steel expo
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