Next year, Tata Steel will be back on track for reducing debt by $1 billion annually: TV Narendran

Tata Steel CEO and MD, TV Narendran, expects steel consumption to return to positive levels in Europe from next year. The company’s Dutch business, the strongest in Europe, has been significantly challenged because of rising gas and electricity prices last year. The UK business still poses a long-term challenge, but the fundamentals of demand in India are still very strong due to construction activity and a revived auto industry. Narendran also spoke about the three big factors that will drive sentiment – domestic demand in India, China’s recovery and resurgence, and coal prices.