Tata Steel says India business growing, will continue to evaluate acquisition opportunities

Tata Steel has announced the acquisition of Usha Martin's steel facility in Jamshedpur for Rs 4,600 crore. TV Narendran, MD & CEO, and Koushik Chatterjee, executive director & CFO of Tata Steel, spoke to CNBC-TV18 about the deal.

Narendran said Indian steel business is a growing market and the focus is lot more on India as the company goes about fixing the issues in Europe.

“In India the market is growing at 7-8 percent and we need to grow to keep pace with that market. These organic opportunities come to us at different points in and team and we need to be ready to seize it when it comes to us,” said Narendran, adding “we will evaluate each opportunity for what it is worth, its value and take a call based on the attractiveness of the opportunity, our ability to go ahead with it,” said Narendran.