After the Covid pandemic, India's steel industry is still recovering, according to T V Narendran, CEO and MD of Tata Steel.

According to T V Narendran, CEO and MD of Tata Steel, the country's steel industry is still recuperating from the Covid pandemic. This was stated on Monday. He predicted that steel demand would rise further due to the government's emphasis on building infrastructure.
"This (2023) has been good year for the steel sector in India, even though it was a challenging period globally," Narendran stated here.
"After the global pandemic, the steel industry is still in the process of recovering. Indeed, the RBI's effective management of the microeconomy and the investments made in infrastructure development are the main reasons for our strong recovery," he stated during a New Year's programme.

He stated that the demand for steel increased by 10–12% in 2023 and that this trend should continue, although he expressed concern about the rise in steel imports from China.

"China has been exporting 8 million tonnes of steel every month (in 2023), which was the highest since 2015, and this has an impact on international steel prices as well as profitability," Narendran stated.

To keep its market share, Tata Steel will need to add one to two million tonnes to its capacity annually, "which we have been doing," he said.

In August 2023, Narendran announced that the company intended to increase its installed annual steel production capacity in India from approximately 22 MTPA to 40 MTPA by 2030.