According to report, Tata Steel said that it expected that the economy will be improved in its new fiscal year 2013-14 starting April 1st. It just reported it has huge losses in current quarters on weak demand.
The steel growth in 2013-14 is expected to be about 7%. Tata Steel, including India and Europe operations, just posted a Rs 3.64 billion loss in the second quarter, compared to the same period of the previous year.
However this year the company sees positive outlook since the economy will improve in both Europe and India.
In addition, India is expected to turn to the world's second largest steelmaker in the two years.