ArcelorMittal entry set to heat up India’s steel industry4 min read . Updated: 22 Oct 2018, 09:19 PM IST
With ArcelorMittal’s Essar Steel acquisition now in the books, enabling Lakshmi Mittal to enter India in a big way, private steel makers led by Tata Steel and JSW Steel may now have to focus on increasing efficiency and cutting costs
Mumbai: The entry of ArcelorMittal, the world’s largest steelmaker, into the Indian market will force existing private sector players to increase efficiency and control costs, analysts say. A third steel producer, after Tata Steel Ltd and JSW Steel Ltd, with both financial heft and expertise, is expected to be good for the domestic market.
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