Tata Steel's global stride with new deal to aid Europe profitability

15 years ago, the global financial crisis set in and undid Tata Steel's best-laid plans in Europe. How far can the new deal help?

It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration.

The line-up for the special event included the launch of Air Deccan’s commercial flight connecting Kol­kata and Jamshedpur, and release of Russi Lala’s new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel’s legacy, and a corporate anthem pen­ned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
 

Evidently, Tata Steel was not merely celebrating its hundredth year, but also the advent of an Indian company