Jamshedpur, Aug 27 (PTI) Tata Steel CEO & Managing Director T V Narendran on Wednesday said the 50 per cent tariff imposed by the US government will not have much impact on the domestic steel sector but the company’s European operations may feel the pinch.

Narendran, however, said the tariff would affect other sectors such as textiles and gems and jewellery.

“The US tariff will not have much direct impact on the domestic steel sector as it does not export steel to them, but Tata Steel's European operation, which exports steel to the US, may feel the pinch as a similar tariff on steel was applicable there too,” he said Admitting the challenges such as the prevailing market scenario of the world and the US tariff, he said, “Our growth rate is good and domestic demand increasing. Domestic Steel demand was also growing. But we have to be competitive always.” Narendran said the government has been chalking out a strategy, such as a proposal to bring in reforms in GST, to counter the impact of the 50 per cent US tariff.

Describing the Tata Group as a nation-building group, Narendran said that it is developing the community around its operational areas.

Earlier, he paid homage to the former Chairman Sir Dorabji Tata on his 166th birth anniversary here.

Narendran said that there are lots of leadership lessons to learn from Sir Dorabji Tata. PTI BS NN

US tariff may not directly affect the domestic steel sector but could hit exporters and related industries' competitiveness. The 50 per cent tariff imposed by the US will have limited direct impact on the domestic steel industry due to minimal exports to the US, but will increase exposure for exporters and overseas subsidiaries-particularly European operations that ship to the US-and create secondary adverse effects on related sectors; the company notes domestic demand growth, the need for competitiveness, and governmental trade-response measures including proposed GST reforms.