Indian stainless steel consumption surged by 84% over the last five years, reaching 4.8 million tons in FY 2024-25, according to the Indian Stainless Steel Development Association (ISSDA). This growth, from 2.61 million tons in FY 2020-21, was driven by infrastructure, railways, metro projects, airports, and so forth.

ISSDA President Rajamani Krishnamurti said the per capita consumption also increased by 36% in the last five years to 3.4 kg in FY25. He expected demand to reach 6.8 million tons by FY30, with per capita consumption hitting 4.5-5.5 kg, driven by continued infrastructure development and new sectors like green hydrogen, biofuels, and renewable energy.