‘Steel sector’s growth trend to continue’

Jamshedpur: Tata Steel Ltd. CEO and MD T.V. Narendran on Wednesday said the steel sector had been witnessing a positive growth and this trend would continue with improving economic activities across the world.

Talking to reporters after hoisting the Tricolour on the occasion of the 72nd Independence Day at Tata Steel works here, he said the current demand for steel in the country was more than expected, buoyed by robust performance of the automobile and construction sectors.

The demand for steel was projected to grow by 5-6%, but it had been 8%, Mr. Narendran said.

He hailed the initiatives taken by the State and the Union government for the betterment of the steel sector.

On the stock market consistently hitting new highs, Narendran said it was primarily because of the inflow of domestic savings through mutual funds.