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We are yet to feel pinch of global slowdown, says Tata Steel MD

PTI 16 Jun 2012, 15:45:04 IST
Jamshedpur, Jun 16: Tata Steel today said that 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 H M Nerurkar told reporters at the J R D 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 in the last hours, he said at present, there was no such impact in the company due to its strong the 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, Nerurkar said the government was taking steps to address it but the steps should be visible on the ground to make a quick come back on the growth track.

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