Tata Steel CEO and Managing Director T V Narendran said the ongoing Iran-Israel conflict has had minimal impact on the company so far, according to a PTI report. Speaking at an event organized by the Singhbhum Chamber of Commerce and Industry (SCCI), he noted that 95pct of Tata Steel’s sales are domestic and conducted in Indian currency, limiting immediate exposure.
However, he cautioned that if the conflict continues, the global repercussions, including for Tata Steel, could become more pronounced. Narendran welcomed the ceasefire between Iran and Israel and expressed hope it would ease tensions. “As a global company, Tata Steel must be prepared for such uncertainties,” he added.
Responding to questions, Narendran highlighted rising trade barriers and increased U.S. tariffs as challenges for the global steel industry. With major exports going to Europe and the U.S., he warned that customers in these markets could face higher costs.
He also flagged concerns over potential increases in shipping, insurance, and logistics costs if the conflict drives up oil prices. “We import limestone from the Middle East and also export steel to the region. Prolonged conflict would certainly push up logistics costs,” he said.