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"Tata Steel has been conferred with Vasant Rao Trophy by Indian Value Engineering Society (INVEST) for excellence in Systematic Application of Value Engineering at Engineering & Projects," a company statement said here today.
The awards were given at a function held on 28th and 29th November.
The company had 5 to 8 per cent impact in the rural
market owing to demonetisation in November, but the situation was much better in December, Narendran further said.
The demonetisation had impacted the company's performance in rural market, which was a cash-based, he said assuring that Tata Steel had taken initiative to address the problem.
"Our 1000 dealers have been asked to install PoS/credit/debit card swipe machines to promote electronic payment in rural pockets," he said.
He assured that Tata Steel, which had invested and engaged with communities in good and bad times, would continue to invest to create jobs.
The focus of the company in 2017 was on improving productivity, he added.
Referring Kalinganagar (Odisha) project as a major greenfield project after its Jamshedpur plant, Narendran expressed satisfaction that the commissioning of the plant was going on better than planned.
Expressing satisfaction over the performance of the Odisha project, he said the production in the Kalinganagar project was expected to cross the 2 million tonnes in the current fiscal.