Jamshedpur – Tata Steel’s Managing Director T.V. Narendran has welcomed the Indian government’s budget, saying it will boost steel demand in the country.
In a statement, Narendran said that the government’s decision to increase capital expenditure on infrastructure is a welcome step that will have a multiplier effect on the overall economy.
“The proposal to develop three economic railway corridors under the Pradhan Mantri Gati Shakti scheme, along with the continued expansion of rural housing, is a significant step,” Narendran said. “This will boost steel demand in the country, while also creating jobs and improving connectivity and logistics.”
Narendran also said that he is pleased to see that the government is focusing on every sector that contributes to a developed India. He noted that the budget also includes special focus on the eastern region of the country.
“The government’s commitment to infrastructure development and inclusive growth is evident in this budget,” Narendran said. “We are confident that this budget will lay the foundation for a strong and sustainable economic growth in India.”
Tata Steel is India’s largest steel producer and has a major presence in the eastern region of the country. The company employs over 80,000 people in India and contributes significantly to the country’s economy