Peak per capita consumption of stainless steel
Minister of State for Steel Shri Faggan Singh Kulaste, said at the inaugural session of the 30th foundation anniversary celebration of the Indian Stainless Steel Development Association (ISSDA) that the country’s per capita consumption of stainless steel touched a new peak. Against 1.2 kg per capita in 2010, the consumption registered a 100% growth and touched a new peak of 2.5 kg in 2019.
“Growth rate of stainless steel demand in India is to the tune of 6-7 per cent CAGR, which is also among the highest in the world, as stainless steel demand is directly linked to the economic growth,” the minister added. With this kind of growth, India now ranks among top 15 nations in the world in terms of per capita consumption of stainless steel.