Following the opening up of steel industry in the early 90s, with expectations of steep demand growth, many green field steel capacities have added. But the expectations proved to be wrong. The demand growth turned sluggish and as a result all the major steel makers went red. TISCO was the only exception. The company, which was in serious trouble in early 90s has not only bounced back but also overcame the demand slump in the late 90s to remain in the profit block. It has become one of the lowcost steel makers in the process. But given the integrating and consolidating nature of the global steel market, TISCO needs to make some strategic moves for its long-term survival.

Jamshedji Nusserwanji Tata formed the Tata Iron and Steel Company Limited (TISCO) in 1907 in Mumbai. It started its operations in 1911 in Jamshedpur (currently in Jharkhand) and went public in 1917. Tata Steel is Asia's first and India's largest integrated private sector steel company. The company has captive mines for the raw materials of steel production i.e., coal, iron ore and other minerals. The growth of TISCO was gradual and consistent till 70s. In 80s, the company diversified into businesses like bearings, tubes etc., as the controlled regime did not allow it to grow in its core business of steel. The company had 18 subsidiaries in 80s.

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