Tata Steel yet to feel pinch of global slowdown: Nerurkar

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Jamshedpur, Jun 16: Tata Steel today said the global economic slowdown has not impacted the private steel major so far.

"The impact of the slowdown has not yet been felt in Tata Steel as its (Tata Steel) production and sales are being recorded at its maximum capacity," Tata Steel Managing Director, Mr HM Nerurkar, told presspersons at the JRD Tata Sports Complex here after felicitating three mountaineers, including a tribal who conquered Mt Everest on May 26.

Admitting that the slowdown may have its impact on the century-old steel company, he said at present there was no such impact on the company due to its strong delivery mechanism and quality products.

However, the impact of the slowdown was obvious all over, he said, adding that "our industrial growth for the last two months was not good and we need to bring it back on track soon."

About ratings agency, Standard and Poor's recent observation on the country's growth rate, Mr Nerurkar said the Government was taking steps to address the situation but the steps should be visible on the ground to make a quick come back on the growth track.

Mr Nerurkar said the impact of the euro-zone crisis was witnessed across the world, including India.

PTI

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