Tata Steel eyes retail in Myanmar, Bangladesh

Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG

Boosted with success of its solution business in the retail segment in the domestic market, steel major Tata Steel is now exploring possibility of entering overseas markets like Bangladesh and Myanmar with retail branded steel solution products, according to business-standard.com.
“We have a great success in developing brands and distribution network in B2C markets in India. Bangladesh and Myanmar are the two B2C markets which have similar profile as India. We are seeing the opportunity there in the B2C markets to build the brand and distribution network,” said Tata Steel MD (India and South East Asia) T V Narendran, reports PTI from Kolkata.
Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG strategy.
Narendran however, did not elaborate further on the overseas foray. Tata Steel offers branded rebars, doors, windows, modular housing, toilets and water ATMs etc in the Indian market and generates some Rs 700 crore revenue annually and was aiming to increase the same to 20 per cent of the topline over the next few years.
Speaking at Bengal Chamber of Commerce organised Metal 2017, he said country’s steel industry had been spending less towards R&D compared to global standards.
“Most industries and countries spend about 2 per cent (of the revenue) towards R&D. Indian steel industry is spending less than 0.5 percent to it. The government is providing incentives to the industry to invest more in R&D," he said.
"R&D expenditure is not about spending the money but having the right projects," he added.
Narendran also mentioned that India lacks in high end steel processing for automotive sector.

 

Tata Steel eyes retail in Myanmar, Bangladesh

Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG

Boosted with success of its solution business in the retail segment in the domestic market, steel major Tata Steel is now exploring possibility of entering overseas markets like Bangladesh and Myanmar with retail branded steel solution products, according to business-standard.com. We have a great success in developing brands and distribution network in B2C markets in India. Bangladesh and Myanmar are the two B2C markets which have similar profile as India. We are seeing the opportunity there in the B2C markets to build the brand and distribution network, said Tata Steel MD (India and South East Asia) T V Narendran, reports PTI from Kolkata. Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG strategy. Narendran however, did not elaborate further on the overseas foray. Tata Steel offers branded rebars, doors, windows, modular housing, toilets and water ATMs etc in the Indian market and generates some Rs 700 crore revenue annually and was aiming to increase the same to 20 per cent of the topline over the next few years. Speaking at Bengal Chamber of Commerce organised Metal 2017, he said countrys steel industry had been spending less towards RD compared to global standards. Most industries and countries spend about 2 per cent (of the revenue) towards RD. Indian steel industry is spending less than 0.5 percent to it. The government is providing incentives to the industry to invest more in RD, he said. RD expenditure is not about spending the money but having the right projects, he added. Narendran also mentioned that India lacks in high end steel processing for automotive sector.