Corrosion leads to losses worth $100 billion annually In India: JSL MD

India faces estimated losses of USD 100 billion every year due to corrosion in projects across sectors, industry player Jindal Stainless Ltd (JSL) said on Friday.

The losses can be reduced by up to 25 per cent by implementation of corrosion management practices, JSL Managing Director Abhyuday Jindal said.

"India loses approximately USD 100 billion to corrosion annually. By strategically implementing corrosion management practices, we can save up to 25 per cent of the corrosion cost across industries," a company statement quoted Jindal as saying.

He said a partnership between industry body CII and JSL to create awareness of corrosion and scale up its management activities to cut down losses that occur due to corrosion.

Last year, CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion, and providing short-term and long-term courses for industry professionals for the right material selection.