Tata Group owned Tinplate Company of India (TCIL) has said it will focus on the domestic market.
"There are long-term commitments in India which we cannot ignore. We will focus on the domestic market," Tinplate Managing Director Tarun Daga said today on the sidelines of the company's annual general meeting.
The company remained optimistic that the Centre's decision to allow 100 per cent foreign direct investment in food packaging sector would boost packaging industry and that the implementation of Food Safety and Standards Act would help promote use of quality tin plate in the industry.
Exports would continue in the range of 15-20 per cent of the total sales, the company said.
"The overall scenario in India remains soft as the steel industry has taken a hit," company's Chairman Koushik Chatterjee said.
"The volatility in forex rates as well as tariff and non-tariff barriers in importing counties has added further uncertainty on the exports front," he said.
"We need to de-bottleneck as well as rationalise the cost structure," he said indicating 2016-17 fiscal would mean a year of consolidation for the company.
Tata Steel owns 74.96 per cent in TCIL, which commands a 35-40 per cent market share in this industry segment.
