Bhubaneswar,swa news : Jindal Stainless, India’s largest stainless steel manufacturer, expectsthe 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 governmentare enhancingmobility infrastructure like inland waterways, railways, and coastal shipping;continuing zero import duty on imports of essential raw materials; and creatinga 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. Securingaccess 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. Topromote sustainability, we propose making life cycle costing a mandatory criterion for material selection in public procurement. Tosafeguard 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 initiativesofthe government and is committed to partnering with them to propel India towards global leadership in stainless steel production.
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