According to Abhyuday Jindal, managing director of Jindal Stainless Ltd (JSL), the government's National Steel Policy of 2017 should include a dedicated policy for the Indian stainless steel industry rather than just a chapter.
“Adding just one chapter diminishes the value and importance of this industry,” Jindal said. In India, JSL makes up about half of all sales of stainless steel. It sold 2.37 million tonnes of stainless steel in FY25, with majority sales centered for the local market.
The entire domestic usage of stainless steel was 4.8 million tonnes during the same time, according to industry group Indian Stainless Steel Development Association (ISSDA). In order to address the long-standing concerns of the sector, the steel ministry plans to include the stainless steel section in the National Steel Policy.
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“The present National Steel Policy does not have anything on stainless steel, but we are incorporating a chapter on stainless steel in the proposed new policy,” a senior steel ministry official said. The official, who did not want to be identified, added the new provisions would factor in sectoral realities, including underutilised capacity, higher production costs and raw material constraints.
The major part of the “dedicated policy” pitch by the ₹40,000-crore company revolves around raw material securitisation, especially for nickel and chrome. “Nickel is critical for us and we don’t have nickel in India. Like rare earth materials, nickel securitisation should be encouraged,” he said.
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