The 54th Annual General Meeting of the Steel Wire Manufacturers Association of India (SWMAI) was held on November 28, 2024, at NESCO, Mumbai. Led by the association’s Chairman, Mr. Sidharth Agrawal, the event witnessed enthusiastic participation from all members, reflecting their collective commitment to addressing industry challenges and seizing opportunities.
SWMAI, established over 60 years ago, serves as the apex national body representing steel wire and wire rope manufacturers in India. Its growing membership includes enterprises from both the organized and small-scale sectors, actively contributing to the industry’s development and prosperity. Recognized by the Government of India and steel producers alike, SWMAI plays a pivotal role in facilitating continuous dialogue between the government and industry stakeholders on policy and industry-related matters.
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A major highlight of the meeting was the participation of Mr. Atul Mathur, Executive Director of SAIL (Steel Authority of India Ltd), as the guest invitee. Mr. Mathur shared valuable insights and engaged with members on several pressing issues. He discussed plans to enhance the production capacity of high-carbon steel at SAIL’s Bhilai plant to meet growing industry demands and emphasized ongoing efforts to improve the quality of wire rods through collaborations with external consultants. Addressing the imbalance in low-carbon wire rod production, he assured members of steps to align output with industry requirements. Furthermore, Mr. Mathur proposed organizing a dedicated meeting between SAIL and SWMAI members to resolve challenges and strengthen partnerships.
The meeting also covered several critical topics, including wire rod availability, pricing concerns, and fostering stronger relationships with government bodies and PSUs. Members raised concerns over the shortage of high-quality wire rods in the Indian industry, which impacts downstream production and pricing. It was noted that wire rod pricing in India remains higher than international market prices, leading to non-competitiveness in the industry. The projection was made that 15% of the targeted 300 million metric tons of steel production should ideally be allocated to wire rod production, with a focus on increasing domestic utility and easing export processes. The association unanimously approved the formation of a task force to advance these engagements.
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The AGM concluded with a renewed commitment from SWMAI to tackle industry challenges head-on and create a collaborative environment that fosters sustainable growth and innovation.
