Jamshedpur celebrates, hopes for trickle-down effect | india | Hindustan Times
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Jamshedpur celebrates, hopes for trickle-down effect

The celebrations are especially big for employees and office-bearers of the company, report B Vijay Murty and Ankush Singh.

india Updated: Feb 01, 2007 04:22 IST

Ever since news of Tata Steel’s takeover of Corus Group PLC trickled in, the steel city hasn’t stopped celebrating. The celebrations have been especially big for employees and office-bearers of the company, who assembled at the Tata Workers Union (TWU) office in the morning for an impromptu Holi session.

By the afternoon, the celebrations were on in full swing in sister concerns like Tata Motors, Tinplate Company of India Limited (TCIL), Tata Tubes and Tata Cummins too. An elated TWU president Raghunath Pandey said: “From being ranked 55th, Tata Steel has now climbed the ladder and is the fifth largest steel plant in the world. Both the management and workers owe commendation. It is a great day for us. We are going to rejoice. We now aim to become the number one global company.”

Deputy general secretary of Telco Workers Union, Chandrabhan Singh, said: “By winning the Corus bid, Tata Steel has established itself firmly in the global steel business. The Tata brand will now be recognised more effectively.” With the managing director still in Mumbai, the Tata Steel management has not decided on the celebrations yet. Sources, however, told HT the celebrations would certainly be historic, given the fact that 2007 is also the company’s centenary year.

Meanwhile, enthused by the take-over, the business community of Jamshedpur is clearly more hopeful about robust growth in the automotive and steel sectors. Industrialists were of the opinion that acquisition would prove a boon for the automobile major, Tata Motors, and its ancillaries spread across the Adityapur Industrial Area (AIA). “Any development in Tata Steel and Tata Motors will have an impact on industries here. Though the ancillaries here will not be affected directly by this takeover, we are expecting a number of indirect benefits out of the latest development,” said RK Sinha, president of the Adityapur Small Industries Association.

Industry secretary of Singhbhum Chamber of Commerce and Industries (SCCI) Niraj Kumar Mishra pointed out that units attached with Tata Steel in the city would get access to the latest technology being used, while AK Srivastava, president of the Seraikela-Kharsawan District Chamber of Commerce and Industry, said: “The company’s unit here will focus more on producing semi-finished products that would directly help the ancillaries associated with it.”