Chinese firms equipped to prosper in India steel sector

Pace of economic development and infrastructure expansion offers a wealth of opportunities, reports Du Juan in Jamshedpur, India.

India's steel capacity is expected to soar in the next 15 years, driven by the country's growth in infrastructure construction, which will create a huge market for Chinese equipment manufacturers, said a senior executive of Tata Steel Ltd.

T.V. Narendran, managing director of Tata Steel, said India now has 80 million metric tons of steel production capacity and that it will grow to 300 million tons in the next 15 years in tandem with the pace of economic development.