Indian stainless steel producer Jindal Stainless (JSL) is optimistic about achieving a 10% growth in exports for the 2024-25 fiscal year, bolstered by recovering demand in Europe and supportive government measures. Managing Director Abhyuday Jindal highlighted that while the upcoming quarter may show modest performance, exports are gradually increasing, particularly to European markets like Germany, Italy, and France, and extending to Japan and Korea.

The recent removal of import duties on ferro-nickel is expected to enhance the competitiveness of the stainless steel industry in India. Jindal noted that government initiatives, such as the Production Linked Incentive and the Make in India campaign, are positively impacting the sector.

The government is also advocating for the use of stainless steel in infrastructure projects, particularly near coastlines.

JSL aims for net zero emissions by 2050, investing heavily in sustainability projects and renewable energy sources. The company is expanding its capacity with a new steel melting shop in Indonesia and upgrading its facility in Odisha, while also acquiring Chromeni Steels to increase cold-rolling capacity. Overall, JSL is positioning itself among the top three global stainless steel manufacturers through strategic investments and innovations.