Tata Steel has been in the steel business for over 110 years. In India, the company has its manufacturing facilities at Jamshedpur and Kalinganagar, with a total current production capacity of 13 million tonne per year. Peeyush Gupta, Vice President, Steel (Marketing & Sales), Tata Steel, shares more...
Highlight one major challenge faced in FY2017-18?
In FY2017-18, one of the key challenges has been to handle the state of business environment.
This could be due to rising expectations of the stakeholders and communities or due to the growing protectionism by the countries to safeguard their home production thereby restricting the free flow of trade.
Tata Steel has addressed these issues proactively by engaging with the communities around its operating areas and doing focused interventions in several areas.
Specifically, in FY2017-18, the company strengthened the governance structure for addressing the environmental, social and people-related material issues and mitigating the related risks. The company has been working collaboratively with its customers in the domestic market to drive localisation.
What decision do you consider the biggest contributor to the company's growth in FY2017-18?
Our single point agenda has been to keep pace with the growing needs of our customers and thus stay relevant to them as a credible steel supplier.
This necessitated that we invest in greenfield assets and make products hitherto unavailable for discerning market segments. The decision to invest and then ramp up Kalinganagar operations, both in terms of quality and quantity, has held Tata Steel in good stead to achieve a growth of 17 per cent in FY2017-18 over the previous fiscal against an industry growth of 6-7 per cent.