Stainless steel industry requires govt support: Jindal

India Infoline News Service | Mumbai | January 14, 2015 10:46 IST

Stainless steel has found applications in areas other than the utensils in recent years

Jindal Steel chairman Ratan Jindal said that the lower capacity utilisation and competition with Chinese imports would impact the India's stainless steel industry.
During a media interaction in Ahmedabad on Monday, Jindal said that stainless steel sector requires government support in the form of encouragement for exports and import restrictions on finished or semi-finished goods.
Financial institutions have the bank exposure of about ₹30,000 crore to the sector. Stainless steel has found applications in areas other than the utensils in recent years, Jindal added. 
 

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