CII & Jindal Stainless to create awareness on corrosion-related issues

New Delhi: Industry body CII and Jindal Stainless Ltd (JSL) on Monday announced a partnership to create awareness on corrosion and scale up its management activities to cut down losses estimated to be worth lakhs of crores of rupees in the country.

CII & JSL signed MoU to invite suggestions on use of stainless steel

CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion and providing short-term and long-term courses for industry professionals for the right material selection. It also involves conducting workshops, organising summits on corrosion, identifying global practices in corrosion management, suggesting potential solutions to minimise corrosion-related losses, etc.

Corrosion costs India about 4% of its GDP: Jindal

"Corrosion affects all walks of our life, from the safety of infrastructure and loss of capital investment to contamination of ingestible and pollution precipitation. As per estimates, every year, corrosion costs India about four percent of its GDP," said JSL Managing Director, Abhyuday Jindal. The maintenance and replacement of assets affected by corrosion are major deterrents to the growth of the Indian economy, he said while addressing a session on 'CII National Mission on Corrosion Management'.

We can save corrosion-related losses worth Rs 3 lakh cr: Mudali

U Kamachi Mudali Chairman, CII Corrosion Management Committee, said, "By applying corrosion-saving measures we can save corrosion-related losses, which in India amounts to Rupees three lakh crores." Jindal Stainless will provide financial aid towards the initiative. Through academic collaborations, both parties will develop capacity-building courses and propel corrosion-related research and development.

It is estimated that 25-30 percent of corrosion could be prevented by following these measures and the life of equipment can be extended up to 250 percent, said Yatinder Suri, Member, CII Corrosion Management Committee.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)