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If the output crosses that level, it will be about 9 per cent more than last year's.
"The production of stainless steel in the country at the end of the calendar year 2016 was 3.3 million tonne," President of Indian Stainless Steel Development Association (ISSDA) K K Pahuja told PTI, citing data collected by the International Stainless Steel Forum (ISSF).
"At present, we (the industry) are growing at a rate of 8-9 per cent year-on-year," he added.
The growth is in response to the rising demand for stainless steel, mainly from sectors such as auto, roads and highways, housing and the like, the industry veteran said, adding that the demand will keep rising every year.
The government had removed the import duty on nickel, a key material required to produce stainless steel. Now, the steel ministry wants the import duty on ferro-nickel and stainless steel scrap to be removed.
For 2018, the domestic stainless industry is expected to produce close to 4 million tonnes.