Tata Steel Braces for U.S. Tariffs Impact
Tata Steel's European operations may be affected by the 50% tariff imposed by the U.S., but the domestic sector remains unscathed. CEO T V Narendran highlighted strategies to tackle this challenge, including proposed GST reforms. He also paid tribute to Sir Dorabji Tata's leadership legacy.
- Country:
- India
Tata Steel CEO and Managing Director, T V Narendran, announced that while the U.S. government's 50% tariff may impact the company's European operations, the domestic steel sector is unlikely to be affected substantially.
Narendran acknowledged that the tariffs pose challenges, especially for sectors such as textiles and gems and jewellery. However, he affirmed that Tata Steel's growth rate remains robust, supported by increasing domestic demand.
The company is considering strategies like GST reforms to mitigate the tariff's impact. Narendran also honored the 166th birth anniversary of former Chairman Sir Dorabji Tata, stating that his leadership continues to inspire the company.
(With inputs from agencies.)
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