According to Lakshmi Mittal the steel tycoon there are still a lot of growing and potential opportunities for the steel market in India. However reports in the recent past have suggested that the man of steel is looking for markets that would promise and yield better results than India as there are a lot of problems faced in the Indian market. The biggest problem affecting the companies like steel is that the decision-making policies are too slow in this nation and that affects the businesses of people where time is money, and money counts the most. Another reason of this new direction is the scant resources.
Stating that his decision will be affected by factors influencing general business Mittal also said that he will go where his business news in hindi leads to. He was also stated saying that India is considerably at a low point when it comes to the investment priorities that he is seeking and that is disappointing. At the same time Lakshmi Mittal the steel tycoon also stated that he had positive feelings about India and its future and also saw a lot of potential in the form of the upcoming generations that will run the country. Unhurried decision-making is definitely taking a toll not only on the steel business but also other such businesses. Multi national companies are looking towards other markets that promise a better future and a pitch in their sales unlike the snail speed government here which takes the decision at a leisurely rate.
That is why countries like Brazil, Canada and Liberia are on the radar of Lakshmi Mittal the steel tycoon who said his main concern right now was to expand as much as he can in order to return the shareholders what is rightfully theirs. The advantage that these countries offer unlike India is that they have all the requirements in place already and there is no need to start from scratch over there. Also better administration from the government would prove beneficial when it comes to setting up plants in other countries and that is what works in favor of the businessmen who have profit on their mind.
It is indeed a wake up call to India where Lakshmi Mittal was born that instead of listing India as his first preference is picking up other countries that too because of the inefficiency of the government. It needs to work on this and work fast this time around.