CHAPTER – 1

COMPANY PROFILE
1.1 BRIEF HISTORY OF THE ORGANISATION AND CURRENT BOARD OF DIRECTORS

More than a century ago, the visionary founder of Tata Steel, Sir Jamshedji Nusserwanji
Tata, was much impressed when he saw in America, Europe and Japan the prosperity that
was created by the application of science to industry. He therefore instilled in the fledgling
Tata Steel the scientific approaches to test and characterize raw materials and products.

By 1937 his vision took grand shape by the establishment of this Research & Control
building that today still houses these functions, presently called R&D, Scientific Services and
Refractory Technology Group (RDSS Division).This new Division in Tata Steel also meant
the very start of Industrial R&D in all of India. It is a tell-tale sign of the vision and
enlightenment of the House of Tata to set up such a ‘western’ concept in the then remote
township of Sakchi.

During the years the Division has evolved and grown to meet the needs of the company.
While initially the focus was on process monitoring and control, the 1940s saw a growing
need for product development imposed on the company by the Second World War. Process
innovation was earlier limited to making the best of local raw materials, but in the 1960s
and 70s it started branching out into new process technologies to help compete with the
fast- growing public sector steel industry.

The economic liberalization of the 1980s and 90s opened India to global competition. This
spurred demand for more varieties of steel and R&D turned its attention to product
development to meet the demands from sectors like automobiles, construction, etc.
Since 2000 the global growth in the steel industry has escalated the market prices of raw materials
like ore and coal. This has forced R&D’s attention to process innovations to make use low-cost raw
materials and increase energy efficiency. Growing awareness on environmental issues and global
warming is also driving R&D to look at reducing our environmental footprint.
The achievements and significance of this R&D have been lauded at national and international level.
It was recognized with many awards, such as various awards for the ‘R&D efforts in Industry’ by
the Department of Science and Technology (1990, 2001, 2007), the best R&D laboratory in India
award by NACE International (2004) and the award for the highest number granted patents
amongst Indian owned private companies by the Ministry of Commerce & Industry (2011).
The following are some important milestones in the history of the R&D and SS Division:

 1937: ‘Research and Control Laboratory’ opened on September 14 at its present location.

 1941-42: R&D division played a key role in developing steel plates used to make armored
vehicles (called Tata agars) in the First World War; also developed corrosion resistance steel
for the Howrah bridge in Kolkata, India.
 1955: R&D division played a significant role in achieving the target of the Two Million Tonne
Programme launched at Tata Steel, Jamshedpur.
 1980-81: Phase I of Modernization – Relevant technologies were absorbed by R&D.

 1984-88: Phase II of Modernization – R&D identified specific coal blends for coke making.
 1989-94: Phase III of Modernization – R&D optimized process parameters for Slab caster,
‘G’ Blast Furnace, LD – 2 and HSM.
 1996: RH-Degasser was commissioned and R&D played a significant role in optimization
through simulation and modeling work.
 1997: R&D received the ISO 9000:1994 certification.

 1998: Development and release of IF-Nb and IF-Ti grades of steel for the auto industry for the
first time in India.
 1999: Established the characteristics of imported low volatile semi-soft coal for use in coke
making and Blast Furnace injection.
 2000: Development and introduction of dent-resistant grade steel for the auto industry for the
first time in India. Phase IV of Modernization – Cold Rolling Mill was commissioned and R&D
supported the optimization the pickling, cold rolling, annealing and galvanizing processes.
 2001-02: QMS was upgraded and R&D received the ISO 9001:2000 certification. R&D
introduced an offline simulator for predicting properties of Hot Rolled Coils.
 2003-04: Quality Management System was computerized and strengthened. Five new
products were developed.
 2005-06: Three new products were developed along with several processes resulting in the
filing of several patents. Research efforts were directed towards several ambitious projects
known as Thrust Area Projects.
 2006-07: Considerable progress was made in the Thrust Area Projects. R&D added XRD, SEM
and beneficiation facilities to its list of research facilities.
 2007-08: R&D celebrated its 70th year by organizing four international conferences. Research
was initiated in a new area of ‘energy efficient fluids. A new wire product with thin organic
coating on galvanized wire was developed and commercialized. New software to provide set-
up guidance to operators of wire drawing lines was developed.
 2008-09: R&D became part of the Global Research Development & Technology function of the
Tata Steel group
 2009-10: QMS was further upgraded and R&D received the ISO 9001:2008 certification.

BOARD OF DIRECTORS

Name Designation

Ms. Mallika Srinivasan Independent Director

Mr. O P Bhat Independent Director

Mr. Deepak Kapoor Independent Director

Mrs. Farida Khambata Independent Director

Mr. David W. Crane Independent Director

Mr. Saurabh Agarwal Non-Executive Director

Mr. V K Sharma Non-Executive Director

Mr. T V Narendran CEO & Managing Director

Mr. Koushik Chatterjee Executive Director and Chief Financial Officer

1.2VISSION/ MISSION STATEMENT AND QUALITY POLICY FOLLOWED/QUALITY

CERTIFICATION ATTAINED

VISION

TATA Steel Group aims to set a benchmark in the global steel industry for Value Creation and
Corporate Citizenship.

We aspire to be the global steel industry benchmark for Value Creation and corporate Citizenship.

MISSION

Consistent with the vision and values of the founder Jamshedji Tata, Tata Steel strives to strengthen
India’s industrial base through effective utilization of staff and materials. The means envisaged to
achieve this are cutting-edge technology and high productivity, consistent with modern
management practices.

Tata Steel recognizes that while honesty and integrity are essential ingredients of a strong and stable
enterprise, profitability provides the main spark for economic activity.

Overall, the Company seeks to scale the heights of excellence in all it does in an atmosphere free
from fear, and thereby reaffirms its faith in democratic values.

QUALITY POLICY

“Consistent with the group purpose, Tata Steel constantly strives to improve the quality of life of the
communities it serves through excellence in all facets of its activities.

We are committed to create value for all our customers and key stakeholders by continually
standardizing, improving and innovating our offerings, systems and processes involving all our
employees.
 This policy shall form the basis of establishing and reviewing the Business Objectives and Strategies
and shall be communicated across the organization. The policy will be reviewed to align with
business direction and to comply with all the requirements of TQM principles.

QUALITY CERTIFICATION

ISO 14001 EMS Certification to Tata Steel's Growth Shop

September 21, 2001

Tata Steel’s Growth Shop was today granted the ISO 14001 certificate for Environment
Management System. Mr.S S Tyagi of Indian Quality Register System presented the certificate to
Mr. B Muthuraman, MD Tata Steel.

The ISO 14001 certificate granted to the Growth Shop for all its activities covering manufacturing,
testing and delivering of plant equipment in cranes. The Growth Shop is the eighth division of
Tata Steel to be ISO 14001 certified and this is a reaffirmation of Tata Steel's firm belief that better
environment management leads to superior business performance. Earlier, Noamundi Iron Mines,
West Bokaro Collieries, Joda Ferro Alloy Plant, Sukhinda Chromite Mines, Joda East Iron Mines,
Tubes Division and Jamshedpur Steel Works. The first integrated steel plant to achieve this
distinction.

Economic Times Awards for Corporate Excellence

August 10, 2001

Tata Steel has been declared "The Company of the Year" by an eminent jury comprising of Shri S M
Krishna, Chief Minister of Karnataka, Shri Arun Jaitley, Union Minister of Law, Justice and Company
Affairs, Shri Deepak Parikh, Chairman, HDFC and also Chairman of the Jury, Shri N R Narayan
Murthy, Chairman, Infosys, Shri Kumara Mangalam Birla, Chairman of the AB Group, Shri M S Banga,
Chairman of Hindustan Lever and Shri Nanno Pamnani, CEO, Citibank (India), Shri Arun Arora, CEO,
Economic Times and Jaideep Bose, Editor, Economic Times.
According to today’s Economic Times, the race for the Company of the Year was a close affair but the
award finally came to TISCO for making a significant, dramatic turnaround in the last year in the
face of enormous odds, painlessly reducing its workforce and becoming highly cost efficient.
Economic Times Award for Corporate Excellence Conferred upon Tata Steel

August 11, 2001

Tata Steel was conferred "The Company of the Year" Award by The Economic Times in a glittering
ceremony held at Mumbai on August 11, 2001. The award was presented by the Hon'ble Finance
Minister of India, Mr Yashwant Sinha and was received by Managing Director, Mr B Muthuraman on
behalf of the company.

The race for the company of the year was a closely contested one but the award was finally given to
Tata Steel in recognition of its significant turnaround in the face of enormous odds, painlessly
reducing its workforce and becoming highly cost efficient.

The awards will be given away at an exclusive ceremony by the Union Finance Minister in Mumbai
on August 10, 2001, at a high-profile function to be attended by the corporate glitter.

Tata Steel Conferred SAP Star Installation Award

August 08, 2001

Tata Steel has been conferred the prestigious SAP Star Installation Award in India. Awarded every
three years, the Star Installation Award recognizes those select few companies which have
innovatively used SAP as a strategic tool for organizational transformation. These companies are
acknowledged for their vision to anticipate opportunities and constant strive to improve their
competitive advantage to achieve and hold their leadership positions.

EEPC Award for Tata Steel

Tata Steel has been awarded the All-India Trophy for Top Exporters in the category of
Manufacturing Units, Large Scale, Non-SSI for the year 1999-2000, in recognition of the
Company's outstanding contribution to engineering exports by the Engineering Export
Promotion Council (EEPC). Tata Steel has bagged the award consistently over the past decade.

The Award was presented by Sri Rajiv Pratap Rudy, Hon'ble Minister of State for Commerce &
Industry, Government of India, and was received by Dr T Mukherjee, Dy Managing Director (Steel),
Tata Steel, on behalf of the Company in New Delhi today at a function organised by EEPC .Tata
Steel's International Trade Division is the first trading house to be given the ISO-9002 certification .
1.3 BUSINESS PROCESS OF THE ORGANISATION - PRODUCT PROFILE

 Tata Steel consistently focuses on driving and maintaining excellence in its operations
through a relentless drive for improvement in process, product and people.
 Tata Steel continually re-defines performance parameters in its journey towards becoming the
global steel industry benchmark for value creation and corporate citizenship.
 Today, we are amongst one of the few steel companies that has its operations fully
integrated – from mining to manufacturing and marketing of finished products.
 Our manufacturing strategy has always focused on ensuring raw material security. This goes a
long way in enabling cost competitiveness and efficiencies, and has enabled Tata Steel to
become the lowest cost producer of steel in Asia.
 Our Raw Material Division operates captive iron ore and coking coal mines in the Indian states
of Jharkhand and Odisha. Key manufacturing functions, are performed by the raw materials and
iron making groups, while Shared Services provides support for a smooth production. The
downstream and allied business activities are structured into profit centers such as Ferro-alloys
and Minerals, Tubes, Wires, Bearings, Agrico, Industrial By- products Management & Tata
Growth Shop.

Following a growth strategy of capacity augmentation through Brownfield and Greenfield projects,
the capacity expansion plans in Jamshedpur and Kalinganagar will further help strengthen our
product portfolio in India while rebalancing steel-making capacities across the Group.

PRODUCTS OFFERED BY TATA IRON AND STEEL

Automotive Steels

The Indian Automotive Industry has made great strides over the past two decades and has emerged
as one of the fastest growing markets in the world. Steel continues to be a material of choice for
Auto makers with steel contributing to ~60-65% of the total raw material content in the average
Indian vehicles. Recognizing the emerging need of automotive manufacturer,

Tata Steel has heavily invested in new facilities, capabilities and infrastructure (upstream &
downstream). Tata Steel has taken the lead in development of specialized products for the
 automotive segments such as micro-alloyed high strength steels, Interstitial Free (IF) steel and
Galva Annealed for two-wheeler fuel tanks.

They have been the first domestic integrated supplier of Hot Rolled high-strength steels and outer
body panels for passenger vehicles. With the commissioning of JCAPCPL (a joint venture of TSL and
NSSMC) and Kalinganagar plant, we are targeting to bring the next generation of advanced high
strength steels (AHSS) to India.

Galvano

Galvanised Plain Steel available in sheet and coil forms, that offers impeccable quality for the
Appliance, Panel, Bus Body and General Engineering segments.

Tata Agrico

Tata Agrico, the oldest brand of Tata Steel, is a pioneer in superior quality agricultural implements.
e division is constantly expanding its product offerings by launching new products and variants
under different categories to provide best of products and services to its customers.

Tata Bearings

Tata Bearing is one of India's most valued brands and is recognised for top grade performance,
longer life, best in class reliability and consistent delivery and service. Customised bearings for
specific applications are made available as per requirement of the customers. The Bearings Division
of Tata Steel is one of India's largest quality bearing manufacturers, with a production capacity of
40 million bearing numbers.

Tata Astrum

Tata Astrum hot-rolled coils and sheets offer solutions to a variety of requirements and redefine the
market norms with best quality and best-in-class service offerings. We cater to customers across
industries and different segments, including Automotive, Railways, Yellow Goods, Agriculture, and
Fabrication.
Tata Shaktee

India’s leading brand in the roofing industry, Tata Shaktee Galvanised Corrugated (GC) sheets are
manufactured using world-class technological expertise and are stronger and more durable than
other ordinary GC sheets.
1.4 CUSTOMERS OF THE ORGANISATION – LEVEL OF OPERATIONS

CUSTOMER

It is imperative that keep pace with the growing needs of our customers, primarily those in the
Automotive and Construction sectors. We aim to deliver enhanced benefits through customized
services and solutions and value-added products throughout the customer’s purchase journey.
We are foraying into new lines of business to insulate ourselves from the cyclicality of the steel
industry through continuous development of solutions beyond steel such as Pravesh Steel Doors
and Windows, Ready Build cut and bend rebar solutions and Nest-In housing solutions.

The key differentiator of our marketing strategy has been our ability to develop and sustain
relationships with our customers and channel partners, while managing a countrywide distribution
network.

Our Value Analysis and Value Engineering (VAVE) initiative is supporting our automotive
customers’ growing requirements for cost-effective and lightweight solutions to reduce fuel
consumption. We are capitalizing on these opportunities by ramping up volumes and developing
high-end products at our Kalinganagar plant and through our joint venture with Jamshedpur
Continuous Annealing & Processing Company Private Limited (JCAPCPL). We have entered new
market segments such as Oil and Gas, Lifting and Excavation (L&E) and Pre-engineered Building
and also consolidated our market share in our existing product portfolio of automotive. We
continue to strive for superior quality offerings with our flagship brands in the Construction
segment, such as Tata Tiscon and Tata Shaktee. We have also been able to meet the needs of Small
and Medium Enterprises (SMEs) with our tailor-made offerings through our Emerging Corporate
Accounts (ECA) brands.

LEVEL OF OPERATION

Steel manufacturing is dependent on a wide variety of raw materials extracted from natural
resources such as iron ore, coal and ferro alloys. The large variations in input quality characteristics
of raw materials pose challenges to produce high-quality steel with minimum environmental
Footprint at a competitive cost. Hence, we endeavor to achieve efficiency and effectiveness by
driving excellence across the steel value chain – spanning from raw material sourcing to the
processed steel reaching the end consumer. We ensure excellence in efficiency through continuous
improvement in all areas of operations, such as process control, asset management and supply
chain. Our initiatives are aimed at achieving superior product quality and delivery performance
and optimizing product mix, thereby improving efficiency at each stage of operations.

South Africa

The Tata Steel KZN is Tata Steel’s first overseas greenfield project. The ferro-chrome plant was
commissioned in 2008 with a total investment of ~ ZAR 1 bn. The plant has achieved an annual
turnover of over ~ ZAR 950 Mn (~$ 130 Mn). With a production capacity of 1,50,000 tonnes per
annum, the state-of-the-art plant has facilities for briquetting, slag chemical recovery and pollution
abolition equipment for both air and water. Tata Steel KZN has successfully implemented CSR
programmes that have been described by the local communities as meaningful and sustainable and
has contributed towards betterment of several institutions.

Canada

Tata Steel Minerals Canada Limited (TSMC) is a joint venture between Tata Steel Ltd. (80%) and
New Millennium Iron Corp. (20%). This investment is highly strategic as it is an important source of
sinter fines for Tata Steel Europe operations. The project has a volume plan of 6 million tonnes per
annum and reserves of ~ 93 million tonnes. The project has made steady progress with
appointment of Engineering Procurement and Construction Management (EPCM), installment of
camp, signing Impact Benefit Agreements (IBAs), receiving environmental release and permits,
installation of the dome and securing logistics. The project has achieved production of 1 million
tonnes until Q4 2013. The year 2015 is likely to see start-up and commissioning, and a 40% ramp
up of the project.

TSMC recognizes the following pillars as its foundation for reaching social and environmental
acceptability for its mining projects: Respectful & Effective Partnership with Aboriginal Nations;
Respect for the Environment and its Sustainable Development; Economic Growth for the
Community; and Empowerment and Capacity-building. It has also worked towards creating jobs,
both directly and indirectly, and developing infrastructure, thus contributing to economic growth of
society.
1.5 COMPETITORS OF THE COMPANY
Tata Steel's top competitors include Alcoa, Nucor, Commercial Metals, Hindalco, BHEL, Magnitogorsk
Iron and Steel Works and Jindal Steel Works Limited (JSW Steel Ltd.)

Alcoa

Alcoa (formerly known as Alcoa Upstream) is a company producing and selling bauxite, alumina,
and aluminium products. It is engaged in bauxite mining operations, processes bauxite into
alumina, and sells bauxite to customers who process it into industrial chemical products.

The company is also involved in the aluminium smelting, casting, and rolling businesses, and the
production of aluminium sheets sold directly to customers in the packaging market for the
production of aluminium cans.

Nucor

Nucor is a company specializing in steel and steel products. It operates in three business segments:
steel mills, downstream steel products, and raw materials. Its steel mills segment includes hot-rolled
steel and cold-rolled steel. The steel products segment provides steel joists and joist girders, steel
deck, cold finished steel, steel fasteners, metal building systems, and light gauge steel framing. The
raw materials segment produces high-quality direct reduced iron (DRI), as well as engages in scrap
metal brokerage, ferrous and nonferrous metal recycling and transportation services.

Commercial Metals Company

Commercial Metals Company (CMC) is a company that manufactures, recycles, and markets steel
and metal products, related materials, and services through a network of facilities. It processes
scrap metals for use as raw material, as well as produces steel rebar, angles, flats, rounds, channels,
fence post sections, and other shapes. The company bends, welds, cuts, and fabricates steel,
primarily rebar, and produce steel fence posts. In addition, CMC sells and rents construction-related
products and equipment to concrete installers and other businesses in the construction industry.

Hindalco

Hindalco Industries is a metals company that operates in primary aluminium, downstream

aluminium, and copper businesses. Its domestic aluminium units encompass operations from
 bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to
downstream rolling, extrusions, and foils. The company also produces copper cathodes and
continuous cast copper rods, as well as other by-products, including gold, silver, and diammonium
phosphate (DAP) fertilizers.

Bharat Heavy Electricals (BHEL)

Bharat Heavy Electricals (BHEL) is a company that designs and manufactures products for the
power, transmission, transportation, defense, and other sectors. It develops and distributes air
preheaters, boilers, control relay panels, gas turbines, piping systems, electrics for rolling stocks and
urban transportation systems, and more. BHEL also provides non-conventional energy source
products that include mini and micro hydro sets, wind electric generators, solar lanterns,
photovoltaics, water heating systems, etc.

Magnitogorsk Iron and Steel Works

Magnitogorsk Iron and Steel Works (MMK) is a manufacturer of iron and steel products. Its
operations include a steel-producing complex encompassing the production chain from the
preparation of iron ore to downstream processing of rolled steel. The company offers rolled steel,
flat, long, coated and galvanized products, and tin plates. It serves the pipe-making, automotive,
railroad machinery, shipbuilding, construction, and other industries.

Jindal Steel Works Limited (JSW Steel Ltd.)

Jindal Steel Works Limited is an Indian multinational making company based in Mumbai,
Maharashtra. It is a subsidiary of JSW Group. It is one of the fastest-growing companies in India with
a global footprint in over 140 countries. After the merger of ISPAT steel, JSW Steel has become India's
second largest private sector steel company. The current installed capacity of the company stands at
18 MTPA. A $13 billion conglomerate, with presence across India, USA, South America & Africa, the
JSW Group is a part of the O.P. Jindal Group with strong footprints across core economic sectors,
namely, Steel, Energy, Infrastructure, Cement, Ventures and Sports.
1.5STRATEGIES – BUSINESS, PRICING, MANAGEMENT

 Tata Steel Limited, with revenues of US$ 22.67 billion in FY 2019, is a leading global steel
company with an annual steel production capacity of 33 MnTPA. Established in
Jamshedpur (India) in 1907, the Company took shape from the vision of founder
Jamshedji N Tata and is today one of the world's most geographically-diversified steel
producers with operations and commercial presence across the world. Tata Steel group
is spread across five continents with an employee base of over 65,000.
 Focusing on Innovation, Technology, Sustainability & People, the Company strives to be
the global steel industry benchmark for value creation and corporate citizenship and
become the most admired brand in metals and minerals space.
 Currently, Tata Steel's consolidated India crude steel production capacity stands at 19.6
MnTPA with manufacturing facilities in Jamshedpur in Jharkhand, Kalinganagar and
Dhenkanal in Odisha, Sahibabad in Uttar Pradesh and Khopoli in Maharashtra. Recently,
Tata Steel has commenced the phase 2 expansion of its Kalinganagar steel plant to 8
MnTPA.
 In addition, the Company has several downstream product extensions with
manufacturing facilities for Wires, Tubes, Bearings, Agriculture Equipment and
Industrial By-products. It also has a Ferro-alloys and Minerals division and a heavy-duty
engineering and fabrication unit, Tata Growth Shop.
 Tata Steel successfully delivered 16.26 MnTPA of steel to the Indian market in FY 2019,
recording an increase of 34% over the previous year due to the acquisition of Bhushan
Steel (now renamed as TSBSL) and a ramp up at both Kalinganagar and Tata Steel BSL.
 In India, Tata Steel operates an end-to-end value chain that extends from mining to
finished steel goods, catering to an array of market segments such as automotive,
construction, general engineering etc.

 The Company possesses and operates captive mines that ensure cost-competitiveness and
production efficiencies through an uninterrupted supply of raw material. Tata Steel’s iron
ore mines in Jharkhand and Odisha enable 100% captive iron ore usage and the coal mines
in West Bokaro & Jharia ensure 30% captive coal usage in operations.

 Tata Steel additionally has a dolomite mine, a chromite mine and manganese mines that
ensures steady and cost- efficient supply of raw materials to its ferro alloy plants. A robust
presence across the value chain helps the Company achieve higher economic efficiencies
 and customer Satisfaction standards which is one of the best in the industry.

 In Europe, Tata Steel is amongst the largest steel producers with a crude steel
production capacity of over 12.3 MnTPA. It established its presence in the
European continent after acquiring Corus in 2007. With steelmaking facilities in the
UK and Netherlands and downstream plants across Europe, it supplies high quality
strip steel products to demanding markets such as automotive, construction,
packaging and engineering.

 In South-East Asia, Tata Steel operations began in 2004 with the acquisition of
NatSteel, Singapore. In 2005, it acquired a majority stake in Thailand-based
steelmaker Millennium Steel, which further strengthened its South-East Asian
operations.

Business Highlights

 Recorded strong and best-ever operating performance.

 Commenced Tata Steel Kalinganagar Phase II expansion project to augment the
cumulative plant capacity to 8 MnTPA from 3 MnTP.
 Acquired Bhushan Steel (now renamed as Tata Steel BSL), with a total capacity of 5.6 MnTPA,
to significantly expand Tata Steel footprint in India.
 Made forays beyond steel production into Services & Solutions, and New Materials such as
Graphene and Fiber Reinforced Polymer.
 Took a lead in setting up a steel recycling business to meet the growing demand for steel in a
sustainable manner, to formalize the scrap market in India, and help the country transition into
a scrap-based steelmaking route.

TATA STEEL PRICE/PRICING STRATEGY

Below is the pricing strategy in Tata Steel marketing strategy:

Tata Steel is a leading steel manufacturer not only in India, but in the world. In steel
industries there are various factors that affect the pricing of the products. Like other companies,
the marketing mix pricing strategy of Tata Steel is also dependent on various factors. Some of
the major factors are as follows:
1. Cost of production

2. Demand in the market

3. Government regulations

4. Competitions

Tata steel is well known for keeping its production cost very low. This gives Tata Steel a competitive
advantage over others. There are various reasons as to why the company’s production is so low
compared to other competitors. Few of them are:

• Tata Steel acquires its raw materials and other products required both from the domestic market
as well as globally. The company has coal mines in Jharia and Bokaro. The mines in Bokaro have
reserves of around 196 million tonnes. It also owns iron ores and chromates mines in other parts
of the country.

• Tata steel has used technologies which help them keep the production cost low thus helping it
maintain the good quality as well as keep the price low.

The demand for steel has also increased in recent years. Also, one more advantage of Tata Steel’s is
that their iron ore reserves are much more than their current needs thus giving them an advantage.

Tata Steel has adapted Market Penetration as their pricing strategy. They assume that the
demand of the product is highly elastic. So, capability of Tata Steel to maintain low price helps
them maintain a huge customer base.

MANAGEMENT STRATERGY OF TATA STEEL

Tata Steel Limited (formerly Tata Iron and Steel Company Limited (TISCO)) is an Indian
multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a
subsidiary of the Tata Group. It was the 11th largest steel producing company in the world in 2013,
with an annual crude steel capacity of 25.3 million tonnes, and the second largest private- sector
steel company in India (measured by domestic production) with an annual capacity of 9.7 million
tonnes after SAIL (Steel Authority of India) The Tata Group is almost 100 years old. It currently
comprises 96 operating companies, which together employed some 357,000 people worldwide and
had revenues of US$ 72.5 billion (Feb 2009) billion in 2008. Tata is active in seven major businesses
Lines: information systems and communications, engineering, materials, services, energy, consumer
products and chemicals. Its 28 publicly listed companies have a combined market capitalization of
US$47.6 billion that is the second highest among Indian business houses in the private sector, and a
shareholder base of over 2 million.

Tata Steel has manufacturing operations in 26 countries, including Australia, China, India, the
Netherlands, Singapore, Thailand and the United Kingdom, and employs around 80,500 people. Its
largest plant is located in Jamshedpur, Jharkhand. In 2007 Tata Steel acquired the UK-based steel
maker Corus which was the largest international acquisition by an Indian company till that date. It
was ranked 486th in the 2014 Fortune Global 500 ranking of the world's biggest corporations. It
was the seventh most valuable Indian brand of 2013 as per Brand Finance.

On 12 February 2012 Tata Steel completed 100 years of steel making in India. The Tata Steel
Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate
Citizenship” through the excellence of its people, its innovative approach and overall conduct. In
2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be
awarded the Deming Application Prize 2008 for excellence in Total Quality Management.

In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the
Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers. Tata Steel
Thailand is the largest producer of long steel products in Thailand, with a manufacturing capacity of
1.7 MTPA. Tata Steel has proposed a 0.5 MTPA mini blast furnace project in Thailand. NatSteel
Holdings produces about 2 MTPA of steel products across its regional operations in seven countries.
Tata Steel, through its joint venture with Tata BlueScope Steel Limited, has also entered the steel
building and construction applications market.

1.6CSR ACTIVITIES
Tata Steel’s vision is “to be a global benchmark in value creation and corporate citizenship”. The
company has always endeavored to conduct its business responsibly, mindful of its social
accountability, respecting applicable laws and with regard for human dignity. The company’s long-
term CSR objective is “to improve the quality of life of the communities we serve globally through
long term value creation for all stakeholders”, which is in alignment with the Tata Group Core
Purpose. The company shall allocate at least 2% of its average net profits before taxes of the
preceding three years, towards CSR activities to sustain and improve a healthy and prosperous
environment and to improve the quality of life of the communities it serves. The company may also
utilize its products and services as suitable for its CSR activities. Any surpluses arising out of CSR
projects or programmes or activities shall be re-deployed back into CSR activities and will not form
a part of the business profits of the company. The company shall positively impact and influence its
employees and partners in fostering a sense of social commitment for their stakeholders. Tata
Steel’s CSR in alignment with the Tata Group focus initiatives (Skills, Water, Governance,
Education) will focus on four thrust areas – Education, Health, Livelihoods and Rural and Urban
infrastructure. Besides, it will also undertake Interventions in the areas of sports, disaster relief,
environment and ethnicity etc, all aimed at improving the quality of life.

Education

• Setting up and running educational institutions and hostels.

• Setting up and running mid-day meal kitchens.

• Training of teachers and headmasters.

• Improving quality of education in existing schools.

• Augmenting and supporting infrastructure in educational institutions.

• Offering scholarships and financial assistance to needy and meritorious students.

• Bridging drop-out children and mainstreaming them to formal schools.

• Making adults functionally literate.

• Developing educational material and methodologies.

• Supporting and promoting co-curricular activities.

• Advocacy of best practices.

• Education for mainstreaming disabled children.

Health

• Setting up and running clinics and hospitals.

• Running mobile medical vans and ambulances.
• Organizing health camps.
• Providing financial assistance and waivers for needy patients, on a case-to-case basis.

• Providing family planning services.

 • Reducing infant and maternal mortality.

• Preventing and treating communicable diseases like malaria, tuberculosis and HIV / AIDS.
• Treating and rehabilitating persons with disabilities.

• Working on adolescent and reproductive sexual health issues.

• Promoting awareness about various health issues and generating demand for health
services.
• Undertaking and supporting research on health-related issues.

• Ensuring access to potable drinking water and hygienic sanitation.

Livelihoods

• Setting up and running skill development centres, industrial training centres, diploma and
polytechnic institutes, community colleges, etc.
• Sponsoring candidates for skill development and vocational training programmes offered at
identified institutions.
• Coaching candidates to appear for entrance examinations of different institutions.

• Creating, training and supporting entrepreneurs.

• Creating, training and supporting self-help groups, federations, co-operatives, societies and
similar institutions.
• Building capacities of farmers on improved methods of agriculture and other allied
sectors.
• Developing water harvesting structures and irrigation facilities.

• Supporting farmers with quality inputs, technical know-how and timely information.

• Creating markets and marketing linkages for farm and forest-based produce.

Undertaking and supporting research on agriculture and other allied sectors

Rural Development

• Rural development projects of building and maintaining community-based rural

infrastructure like roads, bridges, culverts, drains, rural electrification, water
infrastructure, community centres, youth clubs, etc.
Sports

• Constructing stadia and sports infrastructure.

• Setting up and running academies and sports training centres.
• Organizing sports tournaments and coaching camps for community.
• Promoting adventure sports.
• Preserving and promoting indigenous sports.

Ethnicity

• Preserving and promoting tribal languages, scripts and literature.

• Preserving and promoting fine arts and performing arts.
• Preserving and promoting various aspects of folk and tribal cultures.
• Organizing cultural events.
• Restoring and renovating memorials, monuments and heritage structures.
• Mainstreaming Particularly Vulnerable Tribal Groups (PVTGs).
• Undertaking and supporting research on anthropological and ethnic issue.

Environment

• Undertaking plantations and afforestation activity.

• Promoting renewable sources of energy.
• Recharging ground water levels.
• Conserving biodiversity and supporting research, awareness and advocacy on issues
related to biodiversity.
• Promoting awareness about environmental issues.

1.7IMPORT/EXPORT

EXPORT

The likes of Tata Steel and Jindal Steel & Power are exporting 80-90% of their production, while JSW
Steel is looking at shipping out somewhere around 20-30% of its output. In addition to traditional
markets like Southeast Asia and the Middle East, China has emerged as a significant importer of
semi-finished steel items as mills in that country ramp up production.
Exports are now likely to come down as Indian gradually eases the lockdown restrictions.

Tata Steel said it was focusing on exports which accounted for a significant share of its
production in this period.

In April, for instance, Tata Steel sold 80-90% of its production in export markets, global chief
executive TV Narendran told ET. "The proportion of exports will come down over next few months
as domestic demand revives," he added.

India exported 11 million tonnes of steel in 2019. Steel items like rebars, hot-rolled coils, slabs
and billets are exported from India.

Even during the normal times, India which has been a net exporter, used to export 10%of its steel
production and import 8% of its local capacity.

JSPL has also seen a spike in exports after it decided to book orders from abroad in February. It
reported its highest ever exports of steel & related products during April 2020 at 248,000 tonnes, a
growth of 109% (m-o-m). Exports contributed to 74% of its total sales volume.

Export orders include those for steel billets, a semi-finished item that has seen a spurt in orders
from China. "After resuming production full throttle following the Covid-19-led shutdown in
February-March, the Chinese mills are relying on imports of semi-finished steel items in a big way
to quickly notch up production," an industry expert said.

For Man Industries (India), one of the largest manufacturers and exporters of large diameter carbon
steel line pipes in India, export orders as a percentage of total sales range between 50% and 60%.
"In the current order book of approximately Rs 2,000 crore, exports account for more than Rs 1,300
crore,” group chairman RC Mansukhani said. “The majority of our clients are in the MENA (Middle
East and North Africa) region and Southeast Asia,” he said.

The company's plants in Anjar (Gujarat) and Pithampur (Madhya Pradesh) have resumed production.

While Man Industries caters to large companies like ONGC, IOC, HPCL, BPCL and Gail in the domestic
market, its major international clients include Shell, Kinder Morgan, Kuwait Oil Company, Hyundai
Engineering and Construction Ltd.

Any excess steel produced after meeting the domestic demand will be used for feeding up the large
export markets, which are in the process of rationalising their own capacities for meeting own
internal demand,” EY India national leader-metals & mining Saurabh Bhatnagar said.
IMPORT

India is the world's fifteenth-largest steel importer. In 2017, India imported 8.9 million metric tons
of steel, a 9.7 percent decrease from 9.8 million metric tons in 2016. India's steel imports
represented 2.6 percent of all steel imported globally in 2016, based on available data.

India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the
country lost market share among its traditional steel buyers and imports jumped on demand for
higher-quality steel domestically. imports of value-added steel, primarily for the auto sector and
high-end electrical steel were the biggest source of imports, the source said. "The imports for
producing value-added steel for the auto sector are mainly by foreign steelmakers like POSCO," the
source said, declining to be identified as he was not authorized to speak to the media.

1.8COLLABORATIONS AND EXPANSION PLANS

COLLABORATION

Tata Steel to Collaborate with CSIR to Deploy Decarbonization Technologies

Tata Steel Limited and the Council of Scientific and Industrial Research (CSIR) have joined hands to
work toward carbon capture, utilization, and storage (CCUS) to combat climate change and global
warming.
CCUS is the process of capturing waste carbon dioxide from large point sources, such as a factory,
transporting it to a storage site, and depositing it where it will not enter the atmosphere like an
underground geological formation.

As part of the memorandum of understanding (MoU) signed between the two parties, they will
work together to deploy CCUS technologies in the steel industry. The move is expected to cut down
on carbon emissions and expedite the transition toward a decarbonized economy. According to the
press statement, both parties would collaborate and work together in key areas like CO2 capture,
utilization, and storage. Rakesh Kumar, Director of National Environmental Engineering Research
Institute (NEERI), and Debashish Bhattacharjee, VP of Technology and New Materials at Tata Steel,
will lead the collaborative effort.
 The council is also planning to set up a national facility on CCUS at NEERI Nagpur that would
provide a platform for interested stakeholders to participate in fostering the growth of such
measures through a partnership model.

Speaking on the collaborative effort, TV Narendran, MD, Tata Steel, said, “For the sustainability of
the steel industry globally and particularly in a growing country like India, it is essential that we find
an economical solution for capturing and use or sequestration of CO2 at scale.The Tata Steel-CSIR
collaboration platform will provide the necessary impetus and also enable other organizations to
join and collaboratively work towards a solution for carbon capture, utilization & storage.

Tata Steel announces partnership with International Development Company in Middle East

Tata Steel has joined hands with a leading UAE-based petrochemical company, aimed at
broadening its market base for energy sector products in the Middle East.

Recognizing the need to have local representation in Abu Dhabi, Tata Steel has announced
collaboration with International Development Company (IDC) which will support it in obtaining
national oil company approvals, that are required in the region.

Tata Steel, along with DIC, will introduce its supply capabilities to oil and gas companies in the
region, providing them with an opportunity to work with the supplier who has an excellent track
record of providing for onshore line pipe projects worldwide.

The deal has come following increased focus by tata steel on productivity in a bid to reduce the total
cost of ownership for its customer’s project.

EXPANSION PLANS

 Tata Steel plans to invest ₹3,000 crore in the next three years in Jharkhand with expansion
of capacities of coal and iron ore mines and downstream value-added steel portfolio,"
Chanakya Choudhary, vice president - Corporate Services, Tata Steel, told PTI.
 Tata Steel on Tuesday unveiled plans to invest ₹50,000-60,000 crore over the next five years.
This will be used to enhance the capacity of different units including ramping up its Kalinganagar
plant to eight million tonnes, securing iron ore capacity of 50 million tonnes per annum, and
 enhancing the cold rolling capacity to 6.5 mtpa from 4.3 mtpa. To beat the cyclical nature of the
business, TV Narendran, Managing Director, said Tata Steel will focus on new and allied
businesses such as production of low-carbon steel, composite material, graphene, medical
materials, services and solutions.
 Tata Steel to increase India capacity to 73% of global production by 2030. The company also
plans to invest in businesses that are less dependent on the steel cycle such as services,
commercial mining.
 Steel companies are looking to restart expansion projects on the back of surging steel prices. In
the next five years, about 29 million tonnes capacity is likely to be added, with most of it
expected by FY2024.
 Tata Steel had started the project to expand Kalinganagar's crude steel capacity to 8mn t/yr
from 3mn t/yr in late-2018, and had planned to complete the project within 48 months, by the
end of 2022. The company has not given a new deadline for completing the project.

1.10 SWOT ANALYSIS

Tata Steel is part of the most reputed business group in India, Tata group. It is the largest private-
sector steel company in India. The company has a presence in over 50 countries with
manufacturing operations in over 26 countries. Tata Steel has faced a downfall
in demand after the European crisis and has experienced decreasing revenues in the recent years.

Strengths in the SWOT Analysis of Tata Steel:

Market Position: Tata Steel is one of the largest steel manufacturers in the world and world’s
second most geographically diversified steel producer. It has the strong presence in Asia- pacific and
Europe.

Diversified Product Portfolio: Tata Steel has a wide range of products ranging from flat steel
products, agricultural implements, construction products and much more. A diversified product
portfolio ensures revenue flow from different markets around the world.

Trust of TATA: Tata is one of the most trusted and respected brands not only in India but all over
the world. The association of the name provides immense brand equity to the company.
 Integrated operations in India: The whole process of extraction from mines and ores to producing
finished steel material is integrated in India. The integrated operations save a lot of time and cost
and also maintain the required quality.

Global footprint: Tata Steel has the presence in over 50 countries with operations in over 26
countries which increase its market penetration and share.

Weaknesses in the SWOT Analysis of Tata Steel:

Mystery fiasco has hurt the image: The fallout between Ratan Tata and Cyrus Mistry has had an
adverse impact on the image of the Tata group which also translates to Tata Steel.

Over dependence on Europe: Over 50 percent of Tata Steel’s business comes from Europe and
thus any economic slowdown in the Europe affects Tata Steel’s revenues.

Disintegrated operations in Europe: Although Tata Steel’s operations in India are integrated; its
operations in Europe are disintegrated and hence are dependent on various other suppliers. This
affects control on quality an increased cost.

Opportunity in the SWOT Analysis of Tata Steel:

Increasing demand for steel in India: The steel market in India is expected to grow in the next 4
years due to the growth in the construction industry and manufacturing facilities in India. This will
certainly benefit Tata Steel.

Adapt newer technologies: Tata Steel lags behind its competitors in the technology front and has
an opportunity to adopt newer technologies such as the Cortex process, Hismelt process etc.

Growing manufacturing, construction and automotive industry around the world:

Growth in manufacturing, construction and automotive industry in the future will drive the growth
in the steel industry and Tata Steel is set to benefit from it.
Threat in the SWOT Analysis of Tata Steel:

Intense competition: Tata Steel faces stiff competition from industry giants such as JSW Steel,
Essar Steel, and ArcelorMittal etc. This reduces its market share around the world.

Government and Environmental regulations: Tata Steel are subjected to stringent governmental
and environmental regulations in mining as well as production. This increases compliance costs for
the company.

Decreasing global steel prices: Excess steel production in China meant that it supplied steel
cheaper to the world which forced the process to lower down throughout the world.
1.11Organizational Chart

RDSS: Research & Development and Scientific Services

GRP: Global Research Programme

IP: Intellectual Property

SS: Scientific Services

RTG: Refractory Technology Group

RC: Raw materials and Coke making

CRMT: Central Raw Material Testing IFA: Iron

and Ferro Alloys
SMC: Steel Making and Casting

CP: Coated Product

MCJ: Materials Characterization and Joining

MMPD: Materials Modeling and Product Design

CHAPTER – 2
AN OVERVIEW OF THE INDUSTRY
 2.1 Brief History of the Industry

The Iron and Steel industry is one of the largest industries in India and has a significant impact on
the Indian economy. India was the 3rd largest producer of raw steel for three consecutive years,
from 2014 to 2016. Iron and steel industry is at the core of globalization and is one of those
industries which have direct or indirect ties with every other industry. These metals are used in
construction, to build transport and even gadgets and robots. This makes the steel industry a very
important and prominent one.

According to historians and archaeologists, India was the first country to practice manufacturing
metals, as early as 1600 BCE. However, the Iron and Steel industry did not establish its foundation in
India until the year 1907.

Early Attempts

Attempts to establish iron and steel units were actively being made in the early years of 1800. The
very first attempt was made in the year 1808 by Mr. Duncan of the East India Company which soon
met its end. Another attempt was made by Josiah Marshall Heath who established the first iron and
steel unit at Porto Novo, Madras, in the year 1830. This plant, however, could not succeed and was
shut down in 1860.

Steel Plants

There are two types of steel plants - mini steel plants and integrated steel plants. About half of the
country's steel is produced by medium and small enterprises.

Mini steel plants are smaller, have electric furnaces and use steel scrap as well as sponge iron. They
have re-rollers that use steel ingots as well. They produce Carbon steel and Alloy
Steel of certain specifications. There are around 650 mini steel plants in India.

Integrated steel plants are large, handle everything in one complex - from putting together raw
material to steel making, rolling, and shaping. Iron ore, coke, and flux are fed into
the blast furnace and heated. The coke reduces the iron oxide in the ore to metallic iron, and the
 molten mass separates into slag and iron. Some of the iron from the blast furnace is cooled, and
marketed as pig iron; the rest flows into basic oxygen furnaces, where it is

converted into steel. Iron and steel scrap may be added to both the blast furnace and to the basic
iron furnace. There are about five integrated SAIL plants in India.

Structure

India's iron and steel industry is organized into three categories: main producers, other major
producers, and secondary producers. In 2004-05, the main producers i.e., SAIL, TISCO, and RINL had
a combined capacity of around 50% of India’s total steel production capacity and production. The
other major producers — ESSAR, ISPAT, and JVSL — account for around 20% of the total steel
production capacity.

Steel prices

Price regulation of iron and steel was abolished on 16 January 1992. Since then, steel prices have
been determined by an interplay of market forces. Domestic steel prices are influenced by trends in
raw material prices, demand, supply conditions in the market, and international price trends among
others. An Inter-Ministerial Group (IMG) is functioning in the Ministry of Steel, under the
chairmanship of the secretary (Steel) to monitor and coordinate major steel investments in the
country. As a facilitator, the government monitors the steel market conditions and adopts fiscal and
other policy measures based on its assessment. Currently, the basic excise duty for steel is set at
12.5% and there is no export duty on steel items. The government has also imposed an export duty
of 30% on all forms of iron ore except low grades, which carry a duty of 10%, while iron ore pellets
have an export duty of 5% to control ad-hoc exports of the items and to conserve them for the long-
term requirements of the domestic steel industry. It has also raised the import duty on most steel
imports by 2.5%, taking the import duty on carbon steel, flat products to 10%, and that on long
products to 7.5%.

Early years

Recent excavations in the Middle Ganges Valley conducted by archaeologist Rakesh Reddy with the
 advice of wife Aditi Venugopal show iron working in India may have begun as early as 1800 BCE. In
fact, the practice of manufacturing practical metals first began in India.
Archaeological sites in India, such as Malhar, Dadupur, Raja Nala Ka Tila, and Lahuradewa in the

state of Uttar Pradesh show iron implements in the period between 1800 BCE-1200 BCE. Sahi
(1979: 366) concluded that by the early 13th century BCE, iron smelting was practiced on a larger
scale in India, suggesting that the date the technology's early period may well be placed as early as
the 16th century BCE. Some of the early iron objects found in India are dated to 1400 BCE by
employing radiocarbon dating.

Medieval years

The world's first iron pillar was the Iron Pillar of Delhi erected during the time

of Chandragupta Vikramaditya (375–413). The swords manufactured in Indian workshops are

mentioned in the written works of Muhammad al-Idrisi (flourished 1154). Indian Blades made of
Damascus steel found their way into Persia. During the 14th century, European scholars studied
Indian casting and metallurgy technology.

Indian metallurgy under the Mughal emperor Akbar (reign: 1556-1605) produced excellent small
firearms. Gommans (2002) holds that Mughal handguns were stronger and more accurate than
their European counterparts.

In 1667 it has been estimated 5 tons of steel, and 25 tons of ironware were exported from India.
While the Dutch are reported to have exported 46 tonnes of Wootz steel during the 17th
century.

Modern years

Modern steelmaking in India began with the setting of the first blast furnace of India at Kulti in
1870 and production began in 1874, which was set up by Bengal Iron Works. While first modern
steel manufacturing plant was set up at the Gun & Shell Factory (GSF), in
1801,[21] and along with the Metal & Steel Factory (MSF), at Calcutta, both still belonging to the
Yantra India Limited. All had followed on from the establishment of Coal mining in India, in the late
18th century, which eliminated the need for approximately 14.5 tonnes of charcoal to be created to
 smelt each tonne of iron,[23] and offering a source of power for the trains and riverboats used to
carry the ores and smelted metals. The Tata Iron and Steel Company (TISCO) was established by
Dorabji Tata in 1907, as part of his father's conglomerate. By 1939 it operated the largest steel

plant in the British Empire and accounted for a significant proportion of the 2 million tons of pig
iron and 1.13 of steel produced annually. The company launched a major modernisation and
expansion program in 1951.

2.2 Business Process of the Industry

Currently, Indian steel industry has a steel capacity of 122 million tonnes (2015-16) and the world
is producing 1630 million tonnes of steel. India has an aspiration to take this capacity to 300 million
tonnes by 2030. Today steel industry contributes approximately 2% to our country’s GDP and
employs 5 lakh people directly and about 20 lakh people indirectly. India has quickly touched the
number three spot in terms of steel production, overthrowing many industrialized developed
nations such as the US, Russia and South Korea.

Steel production is a 24-hour-a-day, 365-day-a-year process, dependent on a consistent supply of

raw materials and huge amounts of energy. According to the World Steel Association, world crude
steel production has increased from 851 million tonnes (Mt) in 2001 to 1,606 Mt in 2013 and world
average steel use per capita has steadily increased from 150kg in 2001 to 225 kg in 2013.

High demand for iron ore, coke and scrap steel, increasing energy costs, and industry consolidation
has prompted steel producers to develop new methods for gaining efficiency to remain competitive.
The production methods using raw materials have improved significantly over the past decade, and
scrap-based production is accounting for a larger portion of the total steel supply.

Steel is made primarily in a two-step process. In the primary steelmaking step, liquid iron is
converted into steel by the basic oxygen furnace (BOF) process, or by melting scrap steel or direct
reduced iron (DRI) in an electric arc furnace. Secondary steelmaking is a refining process in which
alloying metals are added and impurities are removed.

India’s first private integrated steel company, Tata Steel, is engaged in mining, iron-making,
steelmaking, casting, rolling, finishing, supply chain, and marketing and sales. We have been
strengthening our operations through a combination of organic and inorganic growth initiatives.
Our steelmaking operations at Jamshedpur and Kalinganagar secure raw material supply from
captive iron ore mines.

TSJ is our flagship facility and has been operational for over a century now. Equipment upgrades
and effective maintenance ensure consistent production levels of 11 MnTPA. Equipment upgrades
include the installation of a new boiler, which will enable 100% use of off-gas from blast furnaces,
installation of Coke Dry Quenching (CDQ) facilities, modification of Induration Burner System to
utilise excess coke oven gas, and installation of edge trimming facility for the Galvanised Annealed
(GA) skin panel. Further, various environment related projects were completed in Financial Year
2018-19, which include the installation of the blast furnace dedusting equipment, lime plant
process bag filter, Continuous Emission Monitoring Systems (CEMS) highline bag filter, blast
furnace sludge drying, secondary emission system for steelmaking, and construction of a flyover to
decongest traffic within the facility. These changes have helped us sustain production levels, drive
resource efficiency, and progress towards meeting stringent environmental norms. Our focus on
asset management using data analytics and predictive modelling, has resulted in more than 90%
availability of our key manufacturing units at Jamshedpur.

SO1 - Industry leadership in steel

SO2 - Consolidate position as a global cost leader Our

manufacturing process
The following key activities summarised here constitute our manufacturing process:
1. RAW MATERIALS MINING AND PROCESSING

We are India’s most integrated steel company with captive mines of iron ore and collieries located
around our manufacturing facilities in Jamshedpur and Kalinganagar. We follow the highest
standards of environmental management in our mining locations and use advanced technologies for
our mining operations

2. INBOUND LOGISTICS

We are strategically located for our inbound supplies and our imported raw materials sourced from
around the world are routed through three major ports: Dhamra, Paradip and Haldia (approx. 350
km, 400 km and 250 km from Jamshedpur, respectively).

3. IRON AND STEEL MAKING

We produce steel through the Blast furnace route. We convert the raw materials to hot metal and
crude steel through various supporting processes including coke making, sinter making, and
palletisation. Our processes, are designed to deliver high productivity with the available resources
while managing slag rate and steelmaking requirements.

4. OUTBOUND LOGISTICS

Our outbound logistics, consisting of a network of warehouses and Steel Processing Centres (SPCs),
ensure timely delivery and transportation of finished products to meet on-time delivery
expectations of customers through a network of 6 hubs and 18 stockyards at strategic locations
across India. This ensures delivery cycles as low as 48 hours from the stockyards.
Output volumes comprising 34 product types from 49 production units move primarily through
Indian Railways and trailers, covering distances from about 15 km to over 2,300 km.

5. ROLLING AND PROCESSING

Our rolling mills help us manufacture a diverse product mix with customized shapes, sizes, and
 various chemical and technical properties. Aligned with customer specifications and
requirements, our products undergo stringent quality checking and assurance processes. We

produce a range of value-added products for the retail markets and provide customized solutions
to several of our industrial buyers.

2.3 Market Demand and Supply- Contribution to GDP- Revenue Generation

MARKET DEMAND AND SUPPLY IN STEEL INDUSTRY

As of August 2021, India was the world’s second-largest producer of crude steel with an output of
9.9 MT. In FY21, the production of crude steel and finished steel stood a 102.49 MT and 94.66 MT,
respectively. In FY22, crude steel production in India is estimated to increase by 18%, to reach 120
million tonnes, driven by rising demand from customers. The growth in the Indian steel sector has
been driven by domestic availability of raw materials such as iron ore and cost-effective labour.
Consequently, the steel sector has been a major contributor to India’s manufacturing output.

The Indian steel industry is modern with state-of-the-art steel mills. It has always strived for
continuous modernisation of older plants and up-gradation to higher energy efficiency levels.

As per Indian Steel Association (ISA), steel demand will grow by 7.2% in 2019-20 and 2020- 21.

Huge scope for growth is offered by India’s comparatively low per capita steel consumption and the
expected rise in consumption due to increased infrastructure construction and the thriving
automobile and railways sectors.

CONTRIBUTION TO GDP REVENUE

The development of the 21st Century’s current material civilization owes a huge chunk of its roots to
humankind’s vast knowledge and application of metallurgy. All the primary sectors that we depend
on, on a daily basis, would’ve essentially been impossible without metals.
From infrastructure to transportation, our lives revolve around metals. From the spoons and forks
to the International Space Station, metals are a part of our life to the point that their significance
cannot be overlooked. Widely recognized as one of the fundamental elements of all these metallic
inventions, innovations and development, is this particular alloy of the iron, ‘STEEL’. Steel’s physical
and chemical properties as a material are so versatile that it is used in some way or the other, for
every developed sector so far.

Product (GDP) of the country is above 2% during 2018. The total exposure of steel industry is
about Rs. 3.13 lakh crore rupees. Crude steel production was recorded to be 75.498MT during
April-December 2017 that grew by 4.6% Y-O-Y. India’s finished steel exports rose
102.1 percent to 8.24 MT, while imports fell by 36.6 percent to 7.42 MT in 2016-17. Finished steel
exports rose 52.9 percent in April-December 2017 to 7.606 MT, while imports increased
10.9 percent to 6.096 MT during the same period. Total consumption of finished steel grew by 5.2
percent year-on-year at 64.867 MT during April-December 2017.
According to the data released by Department of Industrial Policy and Promotion (DIPP), the Indian
metallurgical industries attracted Foreign Direct Investments (FDI) to the tune of US$ 10.419 billion
in the period April 2000–September 2017. A large number of these industries are directly and
indirectly related to steel.
In the wake of the recent Budget for 2018, the Government of India has focused on infrastructure
and restarting road projects to aid the boost in the demand for steel domestically. The Union
Cabinet had approved the National Steel Policy (NSP) in 2017, as it seeks to create a globally
competitive steel industry in India. The policy targets achieving 160 kgs per capita steel
consumption along with 300 million tonnes (MT) steel-making capacity by 2030. Our Government is
also working on initiatives like Metal Scrap Trade Corporation (MSTC) Limited the Ministry of Steel
have jointly launched an e-platform called 'MSTC Metal Mandi' under the 'Digital India' initiative
that will be able to facilitate the sale of finished and semi-finished steel products.

The Ministry of Steel is facilitating setting up of an industry driven Steel Research and Technology
Mission of India (SRTMI) in association with the public and private sector steel companies to
spearhead research and development activities in the iron and steel industry at an initial corpus of
Rs 200 crore (US$ 30 million). With the Steel Industry of India accounting to up to 2% of the GDP,
the importance of steel in our economy is irreplaceable. It employs millions of people throughout
the country, both directly and indirectly. The potential of this industry is considered by the market
experts to be boosted in the upcoming years, as the demand for steel keeps rising. Due to a wide
array of features that find their application in so many sectors, steel will continue to be one of the
most widely used material for years to follow. With our government promoting domestic steel
usage, the future of the steel industry of India seems bright. Agni Steels is proud to be a part of the
journey towards a developed steel industry in India.
2.4 Level and Type of Competition- Firms Operating in the Industry

Steel is a heterogeneous industry with widely differentiated products, varying technology and
economics of production. The steel industry in India in particular exhibits larger degree of
heterogeneity and differentiation than in other countries. The structure of the industry is complex
and with an equally complex interplay of forces of dependency and integration, the competition
scenario has turned extremely interesting, more so with the dynamic changes in the structure over
time. The mother product in the steel industry is termed as crude steel. It is in the form of semi-
finished shapes such as blooms, slabs, billets and ingots, from which various shapes such as coils,
bars, sections, plates etc, are rolled which are termed as finished products. Considering the
differences in final product mix across producers, it may be worthwhile to take a look at the
production trend in respect of crude steel in India by major producers and industry segments. The
nature of competition in the steel market seems far more complex especially when examined for
each product separately. Steel products vary by size, shape, chemistry and physical characteristics
and the same have to satisfy a large number of physical and chemical properties if destined to
industrial or critical construction applications at the higher end of vertical product chain. A steel
plant has limitations in producing widely dispersed grades and shapes on account of diseconomies
of scale and technical constraints. Due to these specific characteristics of the steel products and the
consumer profile, competition for each gets confined to only smaller number of players. It makes,
therefore, very little sense to talk about the industry as a whole to understand the nature of
competition in the market. Hence specific products are being discussed to identify competition
issues rather than taking a generic view of the industry.

FIRMS OPERATING IN STEEL INDUSTRY IN INDIA

The iron and steel industries in India are a major industry. This industry continues to drive the
country’s industrial expansion. It is one of India’s largest industries and it is the responsibility of
various small and medium-sized enterprises. The industry is dependent on transport and
communication, the energy and fuel industry is dependent upon it.

India has been the second-largest steel producer in the world and had a production volume of

106.5 MT in 2018. In the Indian steel industry, the growth is powered by domestic accessibility of
raw materials, such as iron ore and economic work. As a result, the steel sector has played an
 important role in the development of India. India’s capacity to produce steel in FY19 grew to

137.975 million tons. India in 2019 outstripped Japan, with crude steel production at 111.2 million
tons, to become the world’s second-largest steel producer.

With state-of-the-art steel mills, India’s steel industry is modern. It has also tried to
continually modernize and update older plants and improve energy efficiency.

Indian steel industries include large producers, main producers, and secondary producers,
which are listed in three categories.

Tata Steel

With an annual crude steel capacity of 33 million tons per annum (MTPA), the Tata Steel Group is
one of the leading global steel companies. It is one of the most geographically diverse steel
manufacturers in the world with operations and a worldwide trade presence. Total revenues of U.S.
$20,41 billion (INR 133,016 crore) were reported by the Group in FY18. Bhushan Steel Ltd. (now
renamed Tata Steel BSL) was purchased by Tata Steel in 2018. Currently, the Indian crude steel
manufacturing capacity consolidated by Tata Steel is
18.6 MnTPA. SAIL
The Steel Authority of India Limited (SAIL) reveals its origins in the emerging country’s formative
years. Following independence, the steel industry was to promote the country’s economic growth,
rapid industrialization and SAIL steel played a key role in the nation’s transformation since 1973.
SAIL is India’s largest steel-making company and a central public sector company among the seven
Maharatna companies in the country.

Hindalco

Hindalco Industries Limited is the industry leader in copper and aluminium. It is part of the Metals
Company of the Aditya Birla Group. Hindalco is the world’s largest aluminium rolling company with
consolidated revenue of 18 billion USD and one of Asia’s largest primary aluminium manufacturers.
A world-class copper smelter and fertilizer plant with a captive jetty include his state-of-the-art
copper facility.

Aluminium units in India cover a wide range of operations throughout the country, ranging from
mining bauxite, alumina processing, carbon mining, captive power generators, and aluminium
smelting to rolling, extrusion, and foiling downstream.

Today, as an integrated producer with a footprint in 10 countries outside India, Hindalco ranks
 among the world’s aluminium majors.

Jindal Steel

Jindal Steel and Power Limited (SPL) is a major steel, power, mining, and infrastructure
manufacturer of India’s fastest-growing and largest intrinsic steel company. This young, agile, and
responsive company operates within Asia, Africa, and Australia as part of the 18 billion dollars of
OP Jindal Group. The company’s newest son, Mr. Naveen Jindal, of the legendary Shri O.P. Jindal,
produces economic and efficient steel and power via a backward and forward integration process.

2.5 Pricing Strategies in the Industry

In the next three decades the deregulation of the steel market (abolition of freight equalisation) and
imports having been put under open general license led to a paradigm shift to the concepts of
supply, capacity creation through differential technologies, SME’s role, demand assessments,
competitiveness, pricing and export strategies.

Commodity pricing in a deregulated economy is an interesting subject. In a non-perfect, near-

oligopolistic pattern of the market, at least for major product categories, like steel in our country,
the market prices reflect the relative strength of demand and supply. It may be recalled that prior to
1991, steel prices were pre-determined by official agency (Joint Plant Committee) based on inputs
(supply prospects) from major producers and demand assessments by the important end using
segments like railways, power, defence and others. In order to provide uniform category-wise prices
throughout the country unspoilt by variation in transport costs from the producing plants, a freight
equalisation policy (assuming rail freight for 1000-km distance) was an added feature of the pricing
and distribution policy. The demand from the critical sectors being known, the producers were
advised to cater to their needs fully before opening it up for others. This was necessary as imports
were negligible due to a high tariff wall. Exports, long considered as surplus steel available after
meeting the domestic demand was a bonus.

In the next three decades the deregulation of the steel market (abolition of freight equalisation) and
imports having been put under open general license led to a paradigm shift to the concepts of
supply, capacity creation through differential technologies, SME’s role, demand assessments,
competitiveness, pricing and export strategies. While demand creation was the result of a planned
economic journey of various interdependent sectors, the supply got regulated by domestic and
export needs. Most interestingly prices got corrected on relative strengths of supply-demand and
 the movement of global prices. Thanks to the spectacular growth of information technology, the

price movement data of raw materials, finished steel (domestic and abroad), prices of competing
products, fabricated products and all the plausible causes of these price movements are known to
the decision makers on real time basis each day.

It is observed that steel prices have dropped in the last one and half months and the phenomenon
is worldwide. Interestingly, it is not only the absolute prices, but the spread between major raw
material and finished products, between semi-finished and finished steel, between the domestic
and export price, between the export price of major exporter and the domestic price of the major
importer, for the same category, between HR-CR and CR-GP prices are all thinning. The shrinkage of
the spread can only happen when the competitive pressure is at play, although there is a marked
difference in the extent of pressures between relevant product categories.

Some observers have attributed price stability in the steel industry to the vertically integrated
structure of the steel industry. This article suggests that the industry's pricing strategy is based not
only on the industry structure, but also on its somewhat unique market characteristics.
Imports have been limited to relatively few market segments, and there appears to be little
likelihood that other market areas will be materially affected by imports in the foreseeable
future.

2.6 Industrial Performance Global and National Basis

REGIONAL BASIS

INDUSTRIAL PERFORMANCE – GLOBAL BASIS

Global Steel Market to Reach 1. 6 billion Metric Tons by the Year 2027. Amid the COVID- 19 crisis,
the global market for Steel estimated at 1. 5 billion Metric Tons in the year 2020, is projected to
reach a revised size of 1.

The Steel market in the U.S. is estimated at 413.4 million Metric Tons in the year 2020. The country
currently accounts for a 27.18% share in the global market. China, the world second largest
economy, is forecast to reach an estimated market size of 286.6 million Metric Tons in the year
2027 trailing a CAGR of 1.5% through 2027. Among the other noteworthy geographic markets are
Japan and Canada, each forecast to grow at -0.2% and 0.4% respectively over the 2020-2027
period. Within Europe, Germany is forecast to grow at approximately -0.1% CAGR while Rest of
European market (as defined in the study) will reach 286.6 million Metric Tons by the year 2027.
In the global Machinery segment, USA, Canada, Japan, China and Europe will drive the 0% CAGR
estimated for this segment. These regional markets accounting for a combined market size of 193.6
million Metric Tons in the year 2020 will reach a projected size of 194 million Metric Tons by the
close of the analysis period. China will remain among the fastest growing in this cluster of regional
markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is
forecast to reach 206.4 million Metric Tons by the year 2027, while Latin America will expand at a
0.8% CAGR through the analysis period. We bring years of research experience to this 17th edition
of our report. The 294-page report presents concise insights into how the pandemic has impacted
production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is
also addressed.
Competitors identified in this market include, among others,

 Ansteel Group Corporation Limited

 ArcelorMittal S.A.

 China Baowu Steel Group Corporation Limited

 EVRAZ NTMK

 Gerdau S.A.

 HBIS Group

 HYUNDAI Steel Company

 JFE Steel Corporation

 Jiangsu Shagang Group

 Nippon Steel & Sumitomo Metal Corporation

 Nucor Corporation
  POSCO

 Riva Group

 Shandong Iron and Steel Group Co. Ltd.

 Shougang Corporation

 Tata Steel Europe Ltd.

 Tata Steel Group

 thyssenkrupp Steel Europe AG

 United States Steel Corporation

INDUSTRIAL PERFORMANCE- NATIONAL BASIS

Steel is a product of large and technologically complex industry having strong forward and
backward linkages in terms of material flows and income generation. It is also one of the most
important products of the modern world and of strategic importance to any industrial nation. From
construction, industrial machinery to consumer products, steel finds its way into a wide variety of
applications. A vibrant Steel industry has historically been the foundation of a nation’s rapid
Industrial Development. On account of rapid industrial development, from a small capacity of 22 MT
in FY 1991-92 prior to deregulation . The National Steel Policy 2017 (NSP 2017) is an effort to steer
the industry to achieve its full potential, enhance steel production with focus on high-end value-
added steel while being globally competitive. The National Steel Policy 2005 (NSP 2005) sought to
indicate ways and means of consolidating the gains flowing out of the then economic order and
charted out a road map for sustained and efficient growth of the Indian steel industry. However, the
unfolded developments in India as also worldwide, both on the demand and supply sides of the
steel market, have warranted a relook at the different elements of the NSP 2005.

India became the 3rd largest producer of steel in 2015 and is now well on track to emerge as the
 2nd largest producer after China. There is significant potential for growth given the low per capita

steel consumption of 61 Kg in India, as compared to world average of 208 Kg.

Indian economy is rapidly growing with enormous focus on infrastructure and construction sector.
Several initiatives mainly, affordable housing, expansion of railway networks, development of
domestic shipbuilding industry, opening up of defence sector for private participation, and the
anticipated growth in the automobile sector, are expected to create significant demand for steel in
the country. Further, while the main focus of the industry is on the domestic market, being in close
vicinity of the developed west and developing east, provides it a strategic location that augurs well
for the industry seeking opportunities for exports of finished goods and imports of some scarcely
available raw materials.

INDUSTRIAL PERFORMANCE – REGIONL BASIS

The iron and steel industries are among the most important industries in India. During 2014
through 2016, India was the third largest producer of raw steel. In 2019, India became the 2nd
largest steel producer in the world after China and the largest producer of sponge iron in the
world. The industry produced 82.68 million tons of total finished steel and 9.7 million tons of raw
iron. Most iron and steel in India is produced from iron ore. Most of the public
sector undertakings market their steel through the Steel Authority of India (SAIL). The Indian steel
industry was delicensed and de-controlled in 1991 and 1992 respectively.

In India, there is a crescent shaped region comprising parts of Chhattisgarh, Northern Odisha,
Jharkhand and western West Bengal, which is extremely rich in high grade iron ore, good quality
coking coal and other supplementing raw materials

TISCO

 The Tata Iron and Steel plant lies very close to the Mumbai-Kolkata railway line and about
240 km away from Kolkata, which is the nearest port for the export of steel.
 The rivers Subamarekha and Kharkai provide water to the plant.

 The iron ore for the plant is obtained from Noamundi and Badam Pahar and coal is brought
from Joda mines in Odisha. Coking coal comes from Jharia and west Bokaro coalfields.

IISCO
  The Indian Iron and Steel Company (IISCO) set up its first factory at Hirapur and later on
another

 at Kulti .
 All the three plants under IISCO are located very close to Damodar valley coal fields (Raniganj,
Jharia, and Ramgarh). • Iron ore comes from Singhbhum in Jharkhand. Water is obtained from
the Barakar River, a tributary of the Damodar.

Visvesvaraiya Iron and Steel Works Ltd. (VISL)

 The third integrated steel plant, the Visvesvaraiya Iron and Steel Works, initially called
the Mysore Iron and Steel Works, is located close to an iron ore producing area of
Kemangundi in the Bababudan hills.
 Limestone and manganese are also locally available. But this region has no coal. At the
beginning, charcoal obtained by burning wood from nearby forests was used as fuel till
1951.
 Afterwards, electric furnaces were installed which use hydroelectricity from the Jog Falls
hydel power project. The Bhadravati river supplies water to the plant. This plant produces
specialised steels and alloys.
 After independence, during the Second Five Year Plan (1956-61), three new integrated
steel plants were set up with foreign collaboration: Rourkela in Odisha, Bhilai in
Chhattisgarh and Durgapur in West Bengal.

These were public sector plants under Hindustan Steel Limited (HSL). In 1973, the Steel
Authority of India Limited (SAIL) was created to manage these plants.

Rourkela Steel Plant

 The Rourkela Steel plant was set up in 1959 in the Sundargarh district of Odisha in
collaboration with Germany.
 The plant v/as located on the basis of proximity to raw materials, thus, minimising the
cost of transporting weight losing raw material.

 This plant has a unique locational advantage, as it receives coal from Jharia
(Jharkhand) and iron ore from Sundargarh and Kendujhar.
 The Hirakud project supplies power for the electric furnaces and water is obtained from
the Koel and Sankh rivers.
2.7 Prospects and Challenges of the Industry

Steel is a great traditional indicator of state of the economy. Automobile is now a global benchmark
and of course its status also sums up the state of the steel industry. India is the fourth largest
producer of steel with a market value of US$ 57.8 bn in 2011, expected to reach US$ 95.3 bn by
2016. Indian Steel industry has posted a CAGR growth of 10.7% over the last 10 years. It is a core
industry for, as well as primary and secondary employment generation.

Prospects – all in the future (tense):

 The Indian steel industry is expected to register exponential growth in the future, riding on
increasing urbanization, and projected growth of infrastructure, automobile and real estate
sectors.

 India’s outlook has improved following the election of the new government which is promising
pro-business reforms. The government of India has set a target to triple Indian steel production
to 300 million tons by 2025.

 Key foreign players in the industry are investing in India which gives an optimistic feel for the
industry.

Challenges/Concerns:
 Delays in the government allocating sufficient iron ore blocks, regulatory approvals and
challenges in land acquisition have slowed many steel projects. Some of these hopefully get
addressed in the current quarter.
 Shift towards relatively lower steel demand growth in most of the heavy-weight
economies including China.
 Structural shifts in the Chinese market arising from over capacity coupled with
weakening prices are threatening the Indian players.
 As China threat was partly getting managed through the anti-dumping duty route, we now have
Russian problem. Russia is a key producer of steel and as its currency has hit rock bottom, the
Indian market will again see very cheap imports.

The franchisee route or the smaller producers perhaps are the biggest threat to the industry.
 They are able to use the name of big players and use the re-cycle material.

 The industry therefore faces external as well as internal threats. The manufacturing cost in India
remains high and with coal getting auctioned, it will only go up further. China and Russian
producers will keep flooding the market directly or indirectly with a helping hand from Indian
importers keen to make a quick buck even if the methods are unethical.
CHAPTER – 3

DISCUSSIONS
CHAPTER – 4

FINDINGS
 The founder of Tata group sir Jamshetji Tata dreamed of having world class hotel, steel plant,
power plant and an educational institution in India. But in his lifetime only one dream came
true, Taj Mahal Hotel in Mumbai.
 It is now the world’s second-most geographically diversified steel producer, with
operations in 26 countries and a commercial presence in over 50 countries.
 Three main subsidiaries of Tata steel group are Tata steel Europe, Nat Steel and Tata Steel
Thailand.
 Tata Iron and Steel Company was established by Dorabji Tata on 25 August 1907, as part of his
father Jamshedji’s Tata Group. Other being Tata power as a power company and IISc Bangalore
as an educational institution.
 Companies second integrated steel plant is going to start its operations around December.

 It’s the largest greenfield project in India.

 The group tied up with Singapore Airlines and tried launching an airline twice, ever since
aviation was liberalized in the 1990s. Both attempts could not succeed of inaction, Tata Group
withdraw its application in 1998.
 Tata Steel gives away its 2/3 of the profit for philanthropic works and foe the service of
nation.
 It’s the first company to start the CSR activities and the whole word followed the. Not only
CSR but many industrial rules and regulations.
 M K Kaw, former civil aviation secretary in the late 1990s has blamed Jet Airways for blocking
Tata’s entry into aviation in his book “an outsider everywhere Revelations by an insider”. Kaw
has said that the then civil aviation minister, C M Ibrahim refused to clear Tata-Singapore
airlines file as Jet convinced the minister that rules were being changed to show undue favour to
the Tata Group.
 The Tata Steel Group, with a turnover of Rs. 1,48,614 crores in FY 14, has over 80,000
employees across five continents and is a Fortune 500 company.
 Established India's first steel (coke) plant in Jamshedpur.

 Tata Steel became the first global steel manufacturer to join the Sea Cargo Charter (SCC) in an
initiative to reduce ‘Scope 3’ greenhouse gas emissions in ocean trade.
 It operates in 26 countries and has a commercial presence in over 50 countries with
employees across five continents.
 Tata Steel was awarded the '2015 World's Most Ethical Company' award under the Metals
category by the Ethisphere Institute. This was the third time, that Tata Steel won this award.
 It’s the first company to start the CSR activities and the whole world followed the,. Not only
CSR but many industrial rules and regulations.
 Companies second integrated steel plant is going to start its operations around December. It’s
the largest greenfield project in India.
 it is now the world's second-most geographically-diversified steel producer, with
operations in 26 countries and a commercial presence in over 50 countries.
 In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win
the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.
 Tata steel has used technologies which help them keep the production cost low thus
helping it maintain the good quality as well as keep the price low.
 The demand for steel has also increased in recent years. Also, one more advantage of Tata Steel’s
is that their iron ore reserves are much more than their current needs thus giving them an
advantage.
 Tata Steel has adapted Market Penetration as their pricing strategy. They assume that the
demand of the product is highly elastic. So, capability of Tata Steel to maintain low price helps
them maintain a huge customer base.
 Tata Steel’s vision is “to be a global benchmark in value creation and corporate
citizenship”.
 The company has always endeavoured to conduct its business responsibly, mindful of its social
accountability, respecting applicable laws and with regard for human dignity.
 WIBLIOGRAPHY

https://www.google.com/url?sa=t&source=web&rct=j&url=https:// www.tatasteel.com/c
orporate/our-organisation/vision-mission- values/%23:~:text%3DConsistent%2520with
%2520the%2520vision%2520and,consiste nt%2520with%2520modern%2520management
%2520practices.&ved=2ahUKEwiRyra
i9fb1AhWikOYKHZVxCQwQFnoECAQQBQ&usg=AOvVaw3FkWC7yJ7ldraD9yl25P NL

https://eprints.nmlindia.org/

https://www.tatasteel.com/investors/annual-report-2015-16/html/corporate-social-
responsibility-activities.html

https://www.tatasteel.com/corporate/our-value-chain/the-making-of-steel/

https://www.thehindu.com/business/Industry/tata-steel-to-invest-3000-crore-in-
jharkhand-in-next-3-years-to-expand-capacities/article36150605.ece

https://www.tatasteel.com/investors/integrated-report-2017-18/customer-focus.html

https://www.tatasteel.com/investors/integrated-report-2018-19/manufactured-
captial.html

https://craft.co/tata-steel/competitors

https://www.tata.com/business/tata-steel

https://www.tatasteel.com/corporate/our-value-chain/business-model-strategy/

https://www.mbaskool.com/marketing-mix/products/16989-tata-steel.html