Economic slowdown takes a toll on JSW Steel
The steel industry in India is suffering from a clear case of dampened spirits with a huge credit crunch slowing down the demand. The first casualty is Sajjan Jindal's huge capacity expansion plan which would have made him bigger than Tata Steel in India. As a result, the additional 3 million tonnes of steel to be rolled out from Vijayanagar in September is nowhere in sight.
