Unfair to say domestic steel industry is a cartel: Tata Steel's Narendran

The bigger steel players obviously have secured iron ore supply through auctions, says Tata Steel MD

Domestic demand for steel is expected to get a boost with the government laying emphasis on infrastructure development. However, the pricing of the commodity has become a contentious issue. In an interview to Aditi Divekar, T V Narendran, managing director of Tata Steel, talks about allegations of cartelisation and the brief shortage of iron ore that led to an increase in prices. Edited excerpts:

The Competition Commission of India (CCI) has launched a probe against steel firms for allegedly forming a cartel. How do you justify the recent price hikes?

It is unfair to say that the industry is a cartel. Steel