Tata Steel CEO and managing director TV Narendran on Wednesday said while the global steel sector is struggling to generate profits due to factors such as China's aggressive pricing, the demand for the metal and its consumption in India is growing. Narendran said 2023 and 2024 have been difficult for the sector globally because of compression in steel margin and a continued struggle to make profits, particularly due to the curbs imposed in China during COVID. 

On global conflicts, he said events happening in various parts of the world have direct or indirect impacts on India. However, the most significant challenge the country faces is the slowdown in China, where recovery is yet to materialise. Narendran expressed concern over China's unfair competition, urging the Indian government to take steps to safeguard domestic industries.