A senior analyst with an international brokerage said that risks in the domestic market are lower than those overseas. While Chinese imports had surged in the domestic market as well, the imposition of a minimum import duty has helped level the playing field. Other firms, like India’s largest engineering and construction firm L&T, a corporate proxy for the broader economy, are also starting to bank on improved prospects in the domestic market. Sajjan Jindal-led JSW Group has also indicated that it will shift its mix of business in favour of the domestic markets. Tata Steel UK Ltd has completed the sale of its entire long products business to investment firm Greybull Capital Llp for a nominal amount.

Source: Mint June 12, 2016 18:56 UTC