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Mr Nicholas Sowar, Global Steel Leader, Deloitte LLP, said that Indian steel companies should focus on adding capacity to the value added steel for specific end-users market as crude steel will continue to face oversupply pressures.

Mr Sowar said that “In terms of adding capacity, Indian steel makers need to find the selective niche for value added products. I believe India can replicate the Korean and Japanese model where steelmakers worked closely with automobile manufacturers to add capacity and have a ready market.”

Mr Sowar said that if Indian steel makers are able to successfully add capacity for value added products, the country has the potential for being a successful regional player in the global market.

He said that “The only concern I have is with respect to energy security and the pace of clearances. The delays to the POSCO and ArcelorMittal projects have sent a negative signal to global investors. Therefore, Indian manufacturers will have to take the lead.”

Meanwhile, on the issue of acquisition opportunities in the troubled European market, Mr Sowar said that at the right price there are good assets available.

He added that “Yes, Europe is growing at a slow pace but they won’t stop producing cars and white goods. Therefore, in the flat steel (hot rolled coil) segment, there are good opportunities with plants which have great technology.”

Source – Business Line

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