The main stainless steel players have decided to focus on urban consumption and central infrastructure initiatives such as “Smart Cities”, to boost the country ‘s stainless steel consumption.
The largest consuming segment remains utensils and kitchenwares, with about 50 per cent share in the overall consumption. But also the segment of the architecture, building, and construction segment along with automotive, railways, and transport are emerging as the fastest growing segment for stainless steel consumption.
With a 8/9% growth rate, India is the fastest growing stainless steel market globally with world average growth rate being in the range of 2-3 per cent.
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