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Jindal Steel chairman Ratan Jindal said that the lower capacity utilisation and competition with Chinese imports would impact the India's stainless steel industry.
During a media interaction in Ahmedabad on Monday, Jindal said that stainless steel sector requires government support in the form of encouragement for exports and import restrictions on finished or semi-finished goods.
Financial institutions have the bank exposure of about ₹30,000 crore to the sector. Stainless steel has found applications in areas other than the utensils in recent years, Jindal added.
-----India Infoline News Service
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