Tata-Corus deal to push steel cos to consolidate: Jindal

Reacting to the Tata-Corus deal, Sajjan Jindal, Vice Chairman and Managing Director of JSW Steel feels that even though Tata Steel's move may not have a direct impact on the Indian steel industry, it will encourage other Indian steel companies to bring about the required consolidation in the industry, reports CNBC-TV18.

Jindal said, "As the industry matures, consolidation is the buzzword and this deal is the right thing. And the Tatas must take the lead, being one of the oldest steel players out of India, and even though they have delayed, this is a right step they have taken and it's a very good thing that has happened."

"It will be good for the global steel industry. Regarding Indian steel, I don't think it will have any direct impact but it's a good sign in the sense that other steel companies in India would take this as a step in the right direction," he further added.

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