Jamshedpur, Aug 27: Tata Steel Managing Director and CEO T.V. Narendran said the recent decision by the United States to impose a 50 percent tariff will not directly impact Tata Steel’s operations in Jamshedpur or across India.
Talking to the media after paying homage to Sir Dorabji Tata on his 166th birth anniversary on Wednesday, Narendran clarified that Tata Steel did not export steel to the US from India. “Our exports to America go through our European plant, so there may be some partial effect there. But in India, it will not affect us because steel consumption here is rising steadily,” he explained.
He added that the Indian economy remained strong due to reforms introduced by the Government of India, including changes in GST. “The government has been implementing continuous reforms to strengthen the economy, and the results are visible,” Narendran noted.
While downplaying the impact on the steel sector, he cautioned that other industries could face challenges. “The US tariff will definitely affect India’s textile, jewellery, and gems businesses. However, the Indian government is holding regular meetings to minimize the impact, and outcomes will emerge soon,” he said.
On Tata Steel’s future plans, Narendran reaffirmed the company’s commitment to the nation. “Tata Steel has been serving the country for 119 years and will continue this service. We are looking at increasing the use of hydrogen and taking steps to move forward with sustainability in focus,” he added.
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