“Indian manufacturers are today supplying several critical seamless pipe products that were earlier imported. This has resulted in an estimated foreign exchange saving of USD 600-700 million annually through import substitution,” Seamless Tube Manufacturers’ Association of India (STMAI) President Shiv Kumar Singhal said.
Additionally, the domestic industry is earning USD 500-700 million every year through exports of seamless pipes and tubes.
“Together, the industry’s contribution is around USD 1.4 billion in foreign exchange savings and earnings,” Singhal said.
The industry’s technological progress is generating significant foreign exchange benefits for the country, he said, adding that Indian companies have built capabilities to manufacture specialised grades that were once almost entirely imported, strengthening the country’s self-reliance in strategic sectors.
Maharashtra Seamless Ltd (MSL) Director Manish Kumar Khandelwal said the industry’s growth reflects the success of Prime Minister Narendra Modi’s vision of making India a global manufacturing hub.
“Under Prime Minister Modi’s vision, the Indian seamless pipe industry has made remarkable progress. If the industry receives the right policy support, it can significantly improve capacity utilisation, which is currently around 50 per cent, and substantially increase exports. This will enable the sector to earn higher foreign exchange for the country while creating more employment opportunities,” Khandelwal said.The industry representatives said policy measures such as preference for domestically manufactured products in procurement by public sector oil and gas companies, continued support for research and development, and safeguards against unfairly priced imports would help the sector unlock its full potential.
With surplus manufacturing capacity and growing technological capabilities, India is well positioned to emerge as a global hub for high-value seamless pipes and tubes, further advancing the objectives of Make in India and Aatmanirbhar Bharat while strengthening the country’s manufacturing base and export competitiveness, they said.
Industry estimates show that India’s seamless pipe and tube industry has an installed manufacturing capacity of around 1.95 million tonnes per annum, against domestic demand of nearly 1 million tonnes, leaving substantial headroom to expand production for export markets.
The new steel policy has made this industry extremely competitive, enabling it to match world-class quality at cheaper prices, Khandelwal said.
Over the past few years, Indian manufacturers have indigenised several critical products, including drill pipes, sub-sea pipes and premium connection casing and tubing. These products are widely used in oil and gas exploration, offshore projects, high-pressure drilling, healthcare and the automobile sector and were previously sourced largely through imports.