Managing
Director, Jindal Stainless, Mr Abhyuday Jindal
Jindal Stainless, India’s
largest stainless steel manufacturer, expects the upcoming Union Budget to
prioritise addressing key challenges hindering the stainless steel sector’s
growth. The stainless steel industry is a critical pillar of India’s manufacturing
sector, immensely contributing to the growth of the economy. Some of the
stainless steel industry’s key requirements from the government are enhancing
mobility infrastructure like inland waterways, railways, and coastal shipping;
continuing zero import duty on imports of essential raw materials; and creating
a level-playing field against low-cost imports, among others.
Ahead of the Union Budget
2025–26, Managing Director, Jindal
Stainless, Mr Abhyuday Jindal, said, “To
boost stainless steel demand, we encourage the government to continue
prioritising infrastructure spending, with a strong focus on developing
mobility infrastructure like inland waterways, rail infrastructure, and coastal
shipping. Securing access to key raw materials is another pressing need. We
recommend reducing import duties to zero on critical raw materials unavailable
in India, such as molybdenum ore, and continuing with zero duties on pure
nickel, ferro-nickel, stainless steel scrap, and mild steel scrap. To promote
sustainability, we propose making life cycle costing a mandatory criterion for
material selection in public procurement. To safeguard the domestic industry
from the distortion caused by low-priced imports, we urge the government to
raise the basic customs duty on stainless steel products to 15% for all
non-Free Trade Agreement countries. These steps will further strengthen the
domestic stainless steel sector and position it as a vital driver of India’s
Viksit Bharat@2047 vision.”
Jindal Stainless
appreciates the initiatives of the government and is committed to partnering
with them to propel India towards global leadership in stainless steel
production.
