Tata Steel hopes for state support for growing demand for steel in India

The largest Indian manufacturer became Tata Steel expressed concern about slowing down the growth of demand for steel in the region.

The company's managers hope for the revival of the former activity in the market after the implementation of the reform program adopted by the Indian government in January 2013. The key points of this program were the reduction in credit rates and interest growth by deposits in banks , as well as state investments in the country's infrastructure projects.

Demand for steel continues to fall, says the director of the Tata Steel group, Mr. Cooshik Chatterji. "In addition to a certain increase in the demand for metal rolling from the automotive industry, especially the manufacturers of passenger vehicles, the demand for metal products remains extremely low."

As we have already reported, according to market analysts, the demand for steel in India in 2013 can increase by 4% and reach 77 million tons.