The 55th AGM of the Steel Wire Manufacturers Association of India (SWMAI) was held on 5th November 2025 at Le Meridien, New Delhi. Led by the association’s Chairman Mr. Sidharth Agrawal, the event witnessed enthusiastic participation from members, reflecting their commitment to advancing the steel wire sector and collectively addressing emerging challenges.
SWMAI, established over 60 years ago, serves as the apex national body representing steel wire and wire rope manufacturers in India. Its diverse and expanding membership- spanning both organized and small-scale sectors actively contributes to the industry’s overall development and progress. Recognized by the Government of India and major steel producers, SWMAI continues to play a pivotal role in facilitating dialogue between policymakers and industry stakeholders on critical issues related to raw materials, pricing, technology, and growth.
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A key highlight of the 55th meeting was the presence of two distinguished speakers:
Mr. Rajesh Gupta, Managing Director of Lloyds Metals & Energy Ltd, and Dr. A. S. Firoz, Former Chief Economist, Ministry of Steel.
Mr. Rajesh Gupta shared an inspiring account of his entrepreneurial journey and the evolution of Lloyds Metals & Energy Ltd. As one of India’s rapidly expanding integrated steel producers, Lloyds operates extensive mining and steelmaking facilities, with significant iron ore reserves in Gadchiroli, Maharashtra. The company has grown steadily over the years, crossing notable turnover milestones while building capabilities across mining, sponge iron, billets, and value-added steel.
Mr. Gupta also spoke about the company’s ambitious next phase of growth- the establishment of a state-of-the-art wire rod mill at Gadchiroli, scheduled for commissioning by March 2027. Designed to support India’s rising consumption of wire rods, the new mill will enhance domestic availability, reduce supply gaps for the wire-drawing industry, and ensure consistent quality aligned with modern applications. Members welcomed the development, noting its potential to strengthen the competitiveness of the Indian steel wire sector.
Dr. A. S. Firoz spoke about the long-term steel demand outlook for India, outlining the factors that will shape pricing, consumption cycles, and market behaviour in the coming decades. Drawing from policy frameworks and national projections, he highlighted that by 2030, India is expected to require around 230–250 million tonnes of steel, driven largely by infrastructure, renewable energy, automobiles, and construction. Looking further ahead, he noted government planning scenarios that estimate India’s steel requirement could reach approximately 600 million tonnes by 2100, depending on economic expansion and urban development.
He also cautioned the industry about possible rough patches in steel demand over the next 2–3 years, citing global market volatility, inflationary pressures, and uneven sectoral growth. His remarks offered valuable perspective on how manufacturers should prepare for cyclical fluctuations while positioning for long-term opportunities.
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The meeting also addressed several critical industry concerns, including wire rod availability, pricing competitiveness, import dependencies, and the need to enhance collaboration with government bodies and PSUs. Members discussed the continuing shortage of high-quality wire rods, its impact on downstream industries, and the need to align domestic production with global benchmarks. There was also consensus on the importance of strengthening policy advocacy and improving the ease of exporting value-added wire products.
The session concluded with a renewed commitment from SWMAI to work closely with steel producers, policymakers, and technology partners to create an environment that fosters sustainable growth, innovation, and long-term competitiveness for the Indian steel wire industry.
