Tata Steel MD & CEO TV Narendran Talks About Massive Investments To Counter China Threat

Even as China scrambles to raise its steel exports after a dip during Covid-19, Tata Steel has announced it is investing ₹10,000 crore every year to increase its capacity by 1-2 million tonnes every year to maintain its market share. According to Tata Steel MD & CEO, TV Narendran, “China has been exporting 8 mn tonnes of steel every month which is the highest since 2015, and this has had an impact on international steel prices as well as profitability”. The top official also spoke about the need to increase competitiveness in preparation for the auction of mines in 2030 after which the company will have to buy raw materials at market prices.