The great battle for Indian steel
A fourth of India's steel production capacity is up for grabs. Which steel magnate will come on top and why does it matter?
Mumbai: Can you set a price on ambition? Since the Insolvency and Bankruptcy Code (IBC) came into effect, 30 million tonnes (mt) of idle steel production capacity (about a fourth of India’s total capacity) has been ripe for the picking. If you are a steel magnate with an eye on the booming Indian market, how much will you pay to be the top dog? In this battle for supremacy in production capacity—the race to sell tonnes and tonnes of steel to an infrastructure-starved nation—can you set a price on ambition?