Jindal Stainless Limited, a major player in India's stainless-steel sector, expects growth in both domestic and export markets for FY 2024-25. The company's confidence is bolstered by a recovery in demand in Europe and new government initiatives aimed at enhancing infrastructure development.
The company anticipates a 10% increase in export volumes this year, driven by strong demand not only in Europe but also in newly targeted markets like Japan and South Korea. Jindal Stainless attributes part of this growth to the Indian government's measures designed to boost domestic metal usage and promote the use of stainless steel in infrastructure projects.
In line with its sustainability goals, Jindal Stainless is committed to achieving net zero emissions by 2050. The company has reduced more than 300,000 tons of CO2 emissions in the last three fiscal years through energy-saving technologies and increased use of renewable energy. Jindal Stainless plans to invest 7 billion rupees (approximately USD 85 million) in sustainable development projects in the coming period and aims to reduce carbon emissions by 1.5 million tons annually.
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