Global players cite instability, fight shy of buoyant Indian steel market

Some, like ArcelorMittal, Sumitomo Metal may enter only via insovency route, as Make in India, 300 mn tonne production target fail to impress

Despite the government's effort to push 'Make in India' and keep an ambitious target of 300 million tonne steel production, global steel producers might find entry into India only through the insolvency route. ArcelorMittal in tie up with Nippon Steel and Sumitomo Metal are strong contenders for Essar Steel, but this too is after none of the foreign companies could make any sizeable entry into the domestic market till date

Analysts said lack of stability in the business environment may keep global steel players from entering India in a sizeable way. “The India steel market has immense potential and is