Boosted with success of its solution business
In the retail segment in the domestic
market, steel major Tata Steel is now exploring possibility of entering overseas markets like Bangladesh and Myanmar with retail branded steel solution products.
"We have a great success in developing brands and distribution network in B2C markets in India.
Bangladesh and
Myanmar are the two B2C markets which have similar profile as
India.
We are seeing the opportunity there
in the B2C markets
To build the brand and distribution
network," Tata Steel MD
(India and South East Asia) T V
Narendran said here today.
Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG strategy.
Narendran however, did not elaborate further on the overseas foray.
Tata Steel offers branded rebars, doors, windows, modular housing, toilets and water ATMs etc in the Indian market and generates some Rs 700 crore revenue annually and was aiming to increase the same to 20 per cent of the
Topline
over the next few years.
Speaking at Bengal Chamber of Commerce organised Metal 2017, he said country's steel industry had been spending less towards R&D compared to global standards.
"Most industries and countries spend about 2 per cent (of the revenue) towards R&D.
Indian steel industry is
spending less than 0.5 percent to it.
The government is
providing incentives to the industry to invest more in R&D," he said here.
"R&D expenditure is not about spending the money but having the right projects," he added.
Narendran also mentioned that India lacks in high
End
steel processing for automotive sector.
Disclaimer: No Business Standard Journalist was involved in creation of this content
