The import of hot rolled stainless steel in coils of a width of 600 mm or more, thickness of 4.75-10 mm to India is projected to grow from 38.477 million kilograms in 2024 to 45.179 million kilograms by 2028. In 2023, the quantity stood at a lower level, indicating a steady upward trajectory in imports over the forecast period. Year-on-year growth from 2024 to 2028 varies, showing a consistent increase of 3.9% to 4.5% annually, reflecting a strong demand for these imports. The compound annual growth rate (CAGR) for this period is approximately 4.08%.
Future trends to watch for include potential influences of domestic production capabilities on imports, global market prices, and government policies related to trade tariffs. Additionally, trends in industries reliant on stainless steel could impact demand.
