Hindsight: It has been a challenging year for Tata Steel as our expansion in capacity has coincided with a slowdown in steel-consuming sectors like automotive and construction. However, as we have opened up new market segments like SME and further leveraged our existing customer relationships and distribution network, we have grown at 10 to 12% over last year which is much better than the market.
FORWARD LOOK: We continue to invest in building new facilities and capabilities as we are bullish about the long term growth prospects of our country. We have completed the 3 mt expansion in Jamshedpur, taking our capacity in Jamshedpur to 10 mt and should commission the first phase of our 6 mt steel plant in Kalinganagar in Odisha towards the end of the next financial year. Our SE Asian operations continue to improve.
TV Narendran, MD, Tata Steel Limited, India and SEA