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Steel companies have been facing challenges due to a sharp decline in prices and a slowdown in demand. This situation arises as imports have been steadily rising, eroding the market share of Indian companies and exerting pressure on prices. TV Narendran, Managing Director & CEO of Tata Steel, shared his insights with Businessline on what lies ahead. Below are excerpts from the interview:
Do you expect steel demand to slow down in the coming days?
Steel demand has remained strong and continues to grow at 8-9%, which aligns with the expected GDP growth of 6.5-7%. However, there has been a slight slowdown in the automobile sector in recent months, though the motorcycle segment remains strong, indicating a recovery in the rural economy. Read more »
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