Financial Express reported that TATA Steel remains optimistic on the effect of global slowdown in India.

Mr HM Nerurkar MD of TATA Steel told FE that the steel sector in India has not been hit so far.

He said “Since November, the automotive industry had been performing well. Had the government paid attention to infrastructure projects, both steel and cement industry would also have done well.”

The effect, if any in India, had been to the extent that the country’s economic growth which was earlier projected to hover around 8.5% to 9.5% is now estimated to come down to 6.5% to 7.5%.

(Sourced from Financial Express)