India's stainless steel utensils and kitchen appliances' export is likely to go up by around 25 per cent in the current fiscal to Rs 1,500 crore on increased demand overseas.
"We had exported utensils and kitchen appliances worth Rs 1,200 crore last year. This year, it is expected to touch the Rs 1,500 crore mark," Indian Stainless Steel Development Association President N C Mathur told PTI.
Indian products receive good response in Middle East, South-East Asia, Africa and the US.
India produces around 1.6-1.7 million tonnes of stainless steel a year. Almost 70 per cent of the production goes in the making of kitchen related appliances. Jindal Stainless and Salem Steel are the major players in the segment.
Mathur said Indian exports would get further boost as the Bureau of Indian Standards (BIS) has accorded approval to three grades of chrome-manganese low nickel stainless steel for utensils and kitchen appliances recently.
"These three grades constitute 90 per cent of the kitchen appliances production in the country. Now, with BIS approval, it would be easier for exporters to dock more products in the US and Europe," he said.
Indian Stainless Steel Development Association, the nodal agency for developing market of stainless steel, coordinates with its counterparts outside India to promote exports.
