India loses 5-7% of GDP due to corrosion: International Zinc Association

India loses around 5-7 per cent of its Gross Domestic Product (GDP) every year due to corrosion, International Zinc Association (IZA) said on Wednesday.

The association also stressed upon the need for immediate and appropriate measures by authorities to control further damage.

Speaking during a webinar on emerging, sustainable construction technologies like Continuous Galvanized Rebar (CGR), IZA Director (India) Rahul Sharma said, "India loses as much as 5-7 per cent of its Gross Domestic Product (GDP) every year on the account of corrosion. These are staggering figures that require immediate and appropriate measures by authorities to control further damage."

Continuous Galvanized Rebars are value-added rebars for higher life and low maintenance of infrastructure to provide significant cost savings compared to other corrosion resistant rebar systems.

These offers on-site formability of the finished product, superior corrosion resistance in concrete at a price cheaper than other corrosion resistant rebar. This technology provides significant cost savings compared to other corrosion resistant rebar systems together with the advantage of preventing corrosion, thereby enhancing the lifetime of the underlying steel.

"The value-added rebar market is expected to grow at CAGR of 5-6 per cent in the coming years. And we're optimistic for this sector to grow further given the infrastructure projects lined up for next decade. With right mandates and pricing, Continuous Galvanized Rebars can prove to be extremely beneficial in preventing corrosion and offer strength to the strictures," Vedanta Director Sales and Marketing Amrita Singh said.