Stainless Steel Industry Urges National Policy to Combat Corrosion Losses

Mumbai — The stainless steel industry has made a strong appeal to the Government of India to introduce a dedicated National Stainless Steel Policy and launch a National Anti-Corrosion Mission. The demand aims to tackle the staggering annual economic loss of nearly ₹12 lakh crore due to corrosion while positioning India as a major global hub for stainless steel production. The call was made during the strategic partnership announcement between the Indian Stainless Steel Development Association (ISSDA) and the Global Stainless Steel Expo (GSSE).

Rajamani Krishnamurthi, President of ISSDA, highlighted India’s immense potential. “India has the potential to become a global stainless steel hub, but this requires a dedicated national policy and strong policy support,” he stated. He noted that India’s per capita stainless steel consumption stands at just 3.5 kg, significantly below the global average of 6–7 kg.

Krishnamurthi emphasised the scale of the problem, pointing out that corrosion causes economic losses equivalent to nearly 4% of India’s GDP. “A well-defined policy framework and greater adoption of corrosion-resistant materials can significantly reduce these losses,” he added.

Rajeev Garg, Group Head at Jindal Stainless Limited, stressed the urgency of a unified industry approach. “With rising imports and challenges related to raw materials, this is the time for the industry to present a united voice,” he said. Garg described stainless steel as a durable, environmentally sustainable, and cost-effective material in the long term, making it worthy of a distinct policy framework.

The industry argues that a National Stainless Steel Policy, coupled with an Anti-Corrosion Mission, would play a pivotal role in strengthening domestic manufacturing, reducing reliance on imports, and boosting advanced production capabilities. Such measures could protect critical infrastructure including bridges, railways, and public assets from the damaging effects of corrosion.

Stakeholders believe that focused policy intervention will not only safeguard the economy but also create opportunities for growth, innovation, and employment in the stainless steel sector. As India aspires to expand its manufacturing footprint globally, addressing corrosion through widespread adoption of stainless steel could yield substantial long-term benefits.

The strategic partnership between ISSDA and GSSE marks an important step towards collaborative efforts. Industry leaders hope the government will recognise stainless steel’s strategic importance and provide the necessary policy backing to transform India into a self-reliant and globally competitive player in this vital sector.

This initiative reflects the industry’s commitment to sustainable development and economic resilience. By prioritising corrosion-resistant solutions through a dedicated national framework, India has the opportunity to save valuable resources, protect infrastructure, and emerge as a leader in stainless steel innovation and manufacturing on the world stage.