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The profitability of Indian steel industry will improve – Mr TV Narendran MD Tata Steel-The 18th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
8/23/2016 不銹鋼展-不銹鋼展會(huì)-效果最好的不銹鋼展會(huì)- Stainless Steel Exhibition |
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In this interview with ET Now, Mr TV Narendran, MD of Tata Steel talks about MIP extension and steel industry, While answering to a question about further extension of MIP, he said “It is helpful for the industry, but the prices in India will be determined by the demand- supply situation. It certainly gives the industry some respite against cheap imports. The industry is very appreciative of this support from the government.”
Q - We are hearing now that MIP extension will not be sort beyond October. Will that come as a jolt to you or are you prepared for that?
A - I think the government is looking at it more comprehensively. They have multiple options. There is anti-dumping duty, safeguard duty, MIP. It does not matter what is there and what is not there as long as the problem is looked at holistically, which the government is doing, and comes out with a solution which addresses the concerns of the industry.
Q - Moody''s report says that Indian steel makers are in a better position as far as profitability and steel demand is concerned. What is your take on that and on steel prices?
A - The demand in India is certainly growing and India is one of the more exciting markets from a demand growth point of view. We have always said that the cost position of the Indian steel industry is very good. Indian steel industry is very competitively positioned in a market which is growing in demand, which has some support in form of import duties or anti-dumping duties or safeguard duties. So the profitability of the industry will certainly improve.
-The 18th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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