India’s domestic steel demand is expected to grow 8-10pct in the second half of FY27, supported by strong consumption across sectors, Tata Steel CEO and Managing Director T V Narendran said.
Speaking at the Indian Foundation for Quality Management Symposium in New Delhi, Narendran said the company remained positive about the industry outlook. He also expects steel consumption to grow by around 7-8pct or more annually over the next three to four years, supported by balanced growth in urban and rural markets.
Separately, Tata Steel is in discussions with the Netherlands government over its proposed steel production transition project at the IJmuiden plant, which has an annual installed capacity of around 7 mln tons. Narendran said issues related to coke oven closures and the classification and handling of steel slag must be resolved before a binding agreement can be signed.
Tata Steel is among the world’s leading steel producers, with annual crude steel capacity of around 35 mln tons.