Tata Steel CEO T.V. Narendran emphasized the importance of Jamshedpur’s cooperation in navigating current challenges and ensuring the city’s progress. He highlighted the need for collective efforts to keep the city clean and well-maintained. Narendran expressed concerns over China’s aggressive pricing strategies in the global steel market, which is creating unfair competition for the domestic industry. He urged government intervention to protect the industry and impose safeguard duty to curb cheap imports.
Despite global challenges, Narendran noted that the domestic steel market remains resilient, with an 8% growth in demand. He shared details of the company’s recent investments, including a ₹15,000 crore investment in the wire division for the 0.5 MTPA Combi Mill at ISWP, which is expected to become operational within the next 2-3 months. Narendran also highlighted efforts to enhance sustainability and efficiency, including reducing carbon emissions and optimizing operations.
He also addressed Tata Steel’s readiness for the 2030 challenge, when the leases for four of its legacy captive iron ore mines will expire. Narendran assured that the company is preparing to adapt to these changes and maintain its competitive edge. He concluded by highlighting Tata Steel’s collaboration with the Jharkhand government for future investments.