Indian steel demand is expected to grow by 8-10 percent in the second half (October-March) of the fiscal year 2026-27 as demand across sectors remains strong, Tata Steel managing director T V Narendran said in a statement on Tuesday, October 6.
“Demand growth should be 8-10 percent because all consuming sectors are quite strong. So, we are quite positive about the prospects for the steel industry,” Narendran said,
The India steel industry will be supported by strong domestic demand, while rising global tariffs and trade barriers make greater localization of supply chains and investment in domestic manufacturing inevitable, he said.
“We are also seeing more balanced growth in both urban and rural markets. That's why you will see steel consumption growing at about 7-8 percent or even more in the coming years. The next three to four years are very positive for the industry,” he said.
On Tata Steel's operations in the Netherlands, Narendran said that discussions were ongoing with the government to resolve outstanding issues related to its proposed steel production transition project before entering into a binding agreement.
He stated that the company was actively engaged with the Dutch government, with issues including the closure of coke ovens and the classification and handling of steel slag still needing to be addressed.
“There are issues related to coke oven closures. There is an issue related to how to classify and handle steel slag, so all these issues need to be addressed before we can come to any binding agreement,” he said.
Tata Steel operates its IJmuiden steel plant in the Netherlands, which has an annual installed capacity of around 7 million mt.
The company has been working on a transformation program at the site focused on improving production efficiency, reducing fixed costs and optimizing its product mix and margins while transitioning towards lower-carbon steelmaking.
