Page 5 - Jindal Stainless Steel

Jindal Stainless Steel eyes growth in kitchenware by increasing capacity

Jindal Stainless Steel, a leading stainless steel maker in the country, is expecting a growth in its supplies to kitchenware industry with the implementation of Goods and Services Tax (GST), which has brought in more unorganised players into the organised market. The company said that its expansion plans are also taking this growth into consideration.The market size of Indian stainless steel flat products is estimated to be 2.5 million tonnes per annum which is growing at a steady rate of 9-10 per cent per annum. The kitchenware segment accounts for around 1 million tonnes per annum, almost half of the stainless steel flat products demand in India. Although India is a large exporter in the kitchenware segment, its competitiveness is marred by a glut of cheaper imports from China, says the company. However, almost 80 per cent of the kitchenware market has been covered by unorganised players, using imports from China and with the implementation of GST and e-way bill, the company is ...