New Delhi: The stainless steel industry has hailed the Union Budget 2025-26, saying the focus on infrastructure, manufacturing, and sustainability will push the sector’s growth.
Union Finance Minister Nirmala Sitharaman presented the record eighth straight Union Budget in the Lok Sabha on Saturday.
“The industry lauds the Union Budget 2025-26 for its robust focus on infrastructure, manufacturing, and sustainability, crucial for the stainless steel industry’s growth,” apex industry body Indian Stainless Steel Development Association (ISSDA) said in a statement.
The Budget offers a balanced roadmap for long-term growth in the stainless steel industry.
The focus on infrastructure, manufacturing, and sustainability will elevate the sector’s economic contribution and reinforce India’s position as a global leader in stainless steel production and innovation, the association said.
Jindal Stainless Managing Director Abhyuday Jindal said, “Infrastructure remains central to India’s growth, and the Budget sustains this momentum with a 10.08 per cent hike in capex to Rs 11.21 lakh crore and Rs 1.5 lakh crore earmarked for state capital expenditure. The Rs 10 lakh crore Asset Monetization Plan (2025-30)
will unlock funds for new projects, while increased public-private partnerships will drive private investment in transport, urban development, and energy”.