• 2007.01.16


    Visiting India

    Tokyo Boeki Steel & Materials will develop the market in India as a 60th anniversary business project. In fact, we have already achieved great results from the business visit of President Tanaka.
    Here are the reports of his business visit to India.
    At this time, we visited the manufacturer of stainless steel in New Delhi and the manufacturer of ferro-alloy in Burdwan.

    <Report from the staff in Material division>
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    India, the world’s largest democratic country with 1,618 languages, 6,400 castes, 6 religions and a population of over 1 Billion people. There are a mismatch of circumstances in principal cities like New Delhi such as the construction of fiber-optic cables and cattle on the road, side by side.
    Since declaring an open door policy for economic development in 1991, the Indian economy has grown rapidly, especially the IT business and automobile industry.
    Whereas the automobile industry has contributed significantly to the development of the large labor of India, on the contrary, the IT business has not contributed the same demands on India’s human resources.
    This is why there are significant expectations of growth within the steel industry.
    Recently the large local steel producers reported expansion plans to meet the anticipated demand. There is the expectation that the steel industry will sustain the demand for employment by the youth of India and utilize the abundant raw materials that exist, efficiently.
    At Tokyo Boeki Steel & Materials, we intend to join in this development of the Indian steel industry with our current business projects in India.

    <Report from President Tanaka>
    I had the pleasant experience of visiting India during the 1980’s. That was due to the founding president Matsumiya’s conviction and foresight of the advancement of Indian economy.
    After 27 years, this business visit to India was planned by me as president.
    We met senior executives of two large steel corporations in India.
    Tokyo Boeki Steel & Materials will aim to develop the markets in India.
    Here are three main points to notice from this visit to India.

    1. It will take at least 10 years for India to improve its infrastructure to become competitive with China. Until then the Market will remain dominated by China.
    2. The growth of population will discourage India in moving towards Industrial mechanization, as a result of the cheap labor. In addition there would be an increasing gap in the share of wealth within the population causing tension.
    3. To succeed in India, it is vitally important to develop sound partnerships with reliable business groups.