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Tata Steel to focus on India as global markets face headwinds- The 19th China£¨Guangzhou£©Int¡¯l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
8/2/2017 Sheetmetal machinery, Forging, Stamping expo |
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The Hindu Business Line reported that Tata Steel plans to focus more on India as it expects global markets to face headwinds due to geopolitical issues. Mr N Chandrasekaran, Chairman, Tata Steel said the global steel industry continues to witness challenging times though the performance of the industry has been better this fiscal. He said in the 110th annual report ¡°According to the World Steel Association, global steel output would taper next year and the slowdown is expected to continue through 2035 as countries around the world start to rein in output while demand retreats. Given the current stage of development and the likely growth path for India¡¯s economy in the next decade, steel demand in India will witness significant growth in future.¡±
He said ¡°While the steel sector in India is financially stressed, the government has outlined its intent to ensure the long-term viability of the sector through the recently announced National Steel Policy 2017.¡±
Going forward, he said, Tata Steel¡¯s priorities will be to focus on the Indian market, achieving operational excellence and delivering value-added and differentiated products to its customers.
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The 19th China£¨Guangzhou£©Int¡¯l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
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