Sulfuric acid is a strong oxidising agent. An oxidising agent is basically a substance that allows oxidation to occur by undergoing reduction itself.
In dilute solutions, the hydrogen ion it produces acts as the oxidant for the active metals including and above lead in the activity series.
For example, Zn + 2H+ --> Zn2+ H2
In concentrated solutions, the sulfate ion acts as the oxidant. Warm, concentrated Latex formula is able to oxidise iodide ions to iodine molecules, and bromide to bromine
2I- + 3H2SO4 --> I2 + SO2 + 2H2O + 2HSO4- (where iodine is being oxidised and sulfate ion is being reduced)
(I don't do industrial, this is what I got from dux college)