Mumbai (Maharashtra) [India], September 8: As India strides confidently towards its ambitious goal of becoming a US$5 trillion economy with hosting of G20 the Stainless Steel Industry is set to play a pivotal role in this journey by uniting at GSSE 2023 in Mumbai. In an era where stainless steel embodies the essence of 'Nation building', it is this versatile metal that will act as a catalyst for achieving the nation's economic aspirations. The government's unwavering commitment to sustainable steel practices has emerged as a crucial enabler in the pursuit of India's net-zero emissions target by 2070.
The stainless-steel industry, standing at the precipice of transformation, is poised to enhance its global presence and significance. At the Global Stainless-Steel Expo 2023 (GSSE 2023), scheduled to grace Mumbai from the 14th to the 16th of September, domestic stakeholders in the stainless steel sector will converge to deliberate on the means to elevate demand from the current 4 million tonnes, as of the end of FY 2022, to an ambitious 20 million tonnes by the year 2047. This gathering reflects the industry's collective commitment to steer India's economic growth, sustainability, and global leadership as it aligns with the G20 agenda to lead the world in a promising era of stainless-steel innovation and progress.
GSSE 2023 is set to be a global convergence of stainless steel prowess, with more than 150 industry-leading companies from both India and around the world confirming their participation. This impressive assembly of stainless steel experts and innovators is driven by a shared vision - the recognition that stainless steel stands as a linchpin in building a sustainable tomorrow. These forward-thinking companies are eager to come together, not just to exhibit their products and services but also to present sustainable business solutions tailored to the needs of various end-user industries.
The event promises to be a melting pot of stainless steel leaders, both from India and abroad, alongside government representatives who are keenly attuned to the industry's potential. According to Anitha Raghunath, Director, Virgo Communications and Exhibitions, "Stainless Steel leaders, experts from India and abroad, along with the government will gather in the GSSE 2023 in Mumbai to explore business opportunities and measures to boost the consumption of stainless steel in India, adoption of IR 4.0 initiatives, investing in R&D, making India a global export hub, and aligning with the government's vision of 2047." This collaboration holds the potential to reshape the stainless steel industry's trajectory and align it with India's long-term aspirations and global leadership goals.
The GSSE 2023 event is set to attract overseas players eager to forge collaborations with Indian counterparts, driven by the aspiration to acquire technical expertise and develop high-quality products that can proudly bear the label 'Made in India' while replacing Chinese imports. This strategic move underscores the industry's commitment to bolster India's self-reliance and enhance its global stainless steel footprint.
In addition to the comprehensive expo, the event will feature a concurrent three-day conference comprising 12 knowledge-rich sessions, a CEO Round Table, industry and technical seminars, and a series of Business-to-Government (B2G) meetings. With national and international speakers on board, this conference is expected to draw an impressive crowd of over 10,000 attendees representing more than 500 organizations, as highlighted by Anitha Raghunath. This gathering of minds and expertise is poised to catalyze discussions, partnerships, and innovations that will further elevate the stainless steel industry's growth trajectory in India.
Stainless steel, often referred to as the metal for nation-building, holds immense potential, and India stands as the second-largest consumer of stainless steel globally, boasting a Compound Annual Growth Rate (CAGR) of 8-9%, surpassing the global average CAGR of 5.8%. All the sessions at GSSE 2023 are strategically geared towards not only sustaining but accelerating this impressive growth rate and promoting greater stainless steel consumption within India, reinforcing its vital role in the nation's progress.
Stainless steel is often also called the metal for nation-building owing to its infinite capabilities, and our nation is the second-largest consumer of stainless steel with CAGR of 8-9 % surpassing global average CAGR of 5.8% and all our sessions at the GSSE 2023 are aimed towards increasing the growth rate and consumption in India.
Some of the sessions during the three day event are `Emergence of Brand India for Stainless Steel, Enhancing Exports and Fostering Emerging Markets', followed by `Transitioning towards Green Steel & Sustainability,' on day 1. Sessions targeting day two will be `Future readying MSMEs under Atmanirbhar Bharat,' followed by ` Fueling needs of Energy sector. Fossil (Oil & Gas) Renewables-Solar, Wind & Hydro,' and important session on `Revolutionizing Industry 4.0-Role of Skill Development, Training & Education,` ending the day with `Fostering New-age Automobiles and Heavy Transport-EVs, Road Tankers, & Buses'. Day 3 at GSSE2023 will also see industry debating on `Transforming Railways & Metro network in India: Coaches, Wagons & Railway Station Re-development,' and `Challenges and Opportunities in Nuclear, Defence and Aerospace sector,' and session on `Enabling the Food Processing, Pharma, Brewery and Chemical industry,' and many other interesting sessions to attend.
GSSE 2023 provides an essential platform for the stainless steel industry to come together and strategize on expanding into new sectors for stainless steel applications while simultaneously championing stainless steel as an eco-friendly and sustainable alternative said Anitha Raghunath, Director, Virgo Communications and Exhibitions. Participating companies are making substantial strides in replacing plastic products, including utensils and packaging solutions, to reduce their carbon footprints and contribute significantly to environmental protection.
The focal points of GSSE 2023 encompass a wide spectrum of stainless steel products, ranging from Flat & Long Products, Duplex, Bars, Rebars, Ingots, Pipes, Tubes, Sheets, Coils, Wires, Finished Goods, Flanges, Fittings, Fasteners, Heat Exchangers, Instrumentation, Machinery, Technology, and more. These products find extensive usage across diverse sectors such as architecture, building, and construction (ABC segment), automobiles, railways, transport (ART segment), and process industries.
Stainless steel's moniker as the "metal for nation-building" rings true in the Indian context, given its limitless capabilities. India currently stands as the second-largest consumer of stainless steel globally, surpassing the global average growth rate with an impressive Compound Annual Growth Rate (CAGR) of 8-9% on the consumption front..
GSSE 2023 serves as a vital catalyst in further enhancing the usage of stainless steel, especially in India, which holds the distinction of being the world's second-largest consumer of this remarkable metal. This platform offers an exclusive opportunity for manufacturers and suppliers of stainless steel products to connect with potential customers representing more than 200 product applications, both from India and around the world. GSSE 2023 has rapidly evolved into the largest dedicated stakeholder platform for the stainless steel industry, fostering collaboration, sourcing, and networking opportunities that benefit end-user industries across the globe.
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