To understand steel business, one has to first understand China, says Goel. In China, steel price is $540 and India is able to import it on paying 8 percent duty. Indian manufacturers are selling at around $630-640 and China at around $540
The 71-year-old Goel spoke exclusively to Moneycontrol about his journey, investment philosophy, hits and misses.
As part of its latest drive to widen the tax base, the Income Tax department has asked traders and businessmen to pay advance tax rather than file annual returns at the end of the financial year so they can be added as new assesses promptly.
Luxury hotels operator Indian Hotels wants to reduce its dependence on the Indian market and expand its footprint overseas to generate at least 40 percent revenue from outside the country in the future.