HomeProduct Complimentary download TATA Steel chairman Mr Mistry sees challenging times in India on slowdown and global glut

TATA Steel chairman Mr Mistry sees challenging times in India on slowdown and global glut

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Publish time: 23rd July, 2013      Source: ChinaCCM
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TATA Steel Ltd forecast the next two years to be challenging because of a slowing local economy and a global supply glut.

TATA Steel chairman Mr Cyrus Mistry said in the company's annual report "The overhang of the economic crisis and significant overcapacity in regions like Europe and China continues to stress global capacity utilization and the demand supply balance. The Indian economy has slowed down in the last 12 months and some of the sectors including the automotive and capital goods have been faced with a demand slowdown that is unlikely to turn around quickly.'

Source - Bloomberg