In 2014, he said, Tata Steel had dealt with some of the challenges relating to the closure of its mines because of change in regulations, while in 2015 China had increased its export volumes globally, including India, which created a challenging atmosphere.
However, Tata Steel continued to perform and grew during this period despite the odds, he said.
"Despite these challenges in the last two years, Tata Steel has continued to invest and has grown not only in the works but also in the township of Jamshedpur to improve facilities during this period," Narendran said.
Recently, he said, the Tata Group Chairman and Board members had visited Jamshedpur and they were "quite happy" with what they saw.
Emphasizing on the need for competitiveness, he said that going forward, the competitiveness of Jamshedpur plant will get challenged after 2030 when the mines it has at its disposal today would be put up for auction.
Later, talking to reporters, Narendran said there is a stability in the steel sector globally and import of steel from China has come down to five million tonnes from 10 million tonnes because of anti-dumping duty and other temporary measures taken by the government.
Referring to the Kalinganagar project in Odisha, Narendran said the board has given green signal to start the second phase of work there, which has achieved 100 per cent production level within a year of commission.
Describing the government's act as positive in view of demand, he said the consumption of steel would increase with infrastructure development in the country and also the logistics cost, which was currently on the higher side compared to other countries, would come down with improvement in infrastructure.
On completion of three years by the Raghubar Das-led government in Jharkhand, Narendran said the government was successful in creating a name for the mineral-rich state during the period.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.