Not only would a focus on infrastructure aid
the demand for steel, it would also help reduce logistics costs. TV Narendran
also hopes that the government will focus on ease of doing business in Budget
2024.
Tata
Steel Managing Director and Chief Executive Officer TV
Narendran expectations from the upcoming interim budget as told to Rachita
Prasad, Editor, Energy and Infrastructure, Moneycontrol.
The biggest
help from the budget would be continued focus on building infrastructure, as
has been happening for the last few years. Not only does it aid the demand for
steel, it helps bring down the cost of doing business outside our factory
gates, because we spend a lot of money moving raw materials and finished goods
around.
Similarly,
we hope the government continues to invest in upgrading the railways, because
often that becomes a bottleneck for moving raw materials, particularly in
eastern India. The port infrastructure is anyway more in the hands of the
private sector.
Secondly, we
hope the government looks at the ease of doing business. How do we make it
easier for capital intensive, long gestation businesses? And the third is
to keep an eye on unfair imports.