India’s stainless steel demand is growing at a compounded annual growth rate (CAGR) of 6-7 percent and is among the highest in the world, Indian junior steel minster Faggan Singh Kulaste said on Tuesday, November 19.
The junior minister said that Indian per capita consumption of stainless steel touched 2.5 kg during 2019, up from 1.2 kg in 2010, adding that the 100 percent increase in per capita consumption in less than 10 years was an indicator of the strong economic growth in the country and that India is now among the top 15 countries with the highest per capita consumption of stainless steel in the world.