Tata Steel CEO Forecasts Strong Indian Demand and Dutch Negotiations
T.V. Narendran predicts Indian steel consumption will grow up to 10 percent while negotiating operational closures with the Dutch government.
Tata Steel CEO and Managing Director T.V. Narendran forecasts significant growth for the Indian steel market, predicting consumption will rise by 7-8% or more over the coming years. Speaking at the Indian Foundation for Quality Management Symposium 2026 in New Delhi, Narendran specifically expects domestic demand to grow by 8-10 percent in the second half of the current fiscal year, citing strength across all consuming sectors, including infrastructure, industrial projects, and an automobile sector aided by GST changes.
Narendran argued that global trade barriers and rising tariffs make the localization of supply chains inevitable as companies prioritize resilience over cost. He urged foreign firms seeking access to the Indian market to invest in domestic manufacturing and job creation. On the transition to green steel, he noted that India remains in the early stages and requires policy support and customer willingness to pay premiums.
Regarding international operations, Narendran stated that Tata Steel is negotiating with the Dutch government to resolve issues concerning coke oven closure and the classification and handling of steel slag. These discussions are necessary before the company signs a binding agreement for its IJmuiden plant, which has an annual capacity of approximately 7 million tonnes. The facility is currently undergoing a transformation program to implement low-carbon emitting processes and increase production efficiency.
