Tata Steel Navigates Global Turbulence Amid Iran-Israel Conflict
Tata Steel CEO T V Narendran stated that the Iran-Israel conflict currently has minimal impact on the company due to domestic-focused sales. However, prolonged conflict could affect global operations. Rising oil prices and trade duties pose challenges, with potential impacts on logistics and exports, particularly to the US and Europe.
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- India
Tata Steel CEO and Managing Director T V Narendran emphasized that despite the ongoing Iran-Israel conflict, the overall impact on Tata Steel has been minimal due to its largely domestic market operations.
Speaking at an event organized by the Singhbhum Chamber of Commerce and Industry, Narendran noted that while 95% of the company's sales occur domestically, a prolonged conflict could have global repercussions, affecting the company's international operations.
He highlighted challenges posed by increased trade tariffs and oil prices, impacting logistics, and expressed concern over how this might affect their exports to Europe and the US, outlining the potential cost implications for their clientele in these regions.
(With inputs from agencies.)
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