TV Narendran of Tata Steel believes that despite the volatility in the market, the fundamentals in some places are still strong. He believes that the fundamentals are good, and India is standing out in a challenging global environment.

He said, “I think it's still a bit volatile out there. Even if you look at the last week, you had China softening last week, this week, it started with iron ore prices, gold prices, and steel prices going up a bit. Too early to say but I think if you look at the PMI in China for services, it's going up month-on-month, on manufacturing, it's a bit down. So it's too early to predict. But we are I think in for some volatility, but I think the fundamentals in some places are still quite strong.”

Speaking to CNBC-TV18, Jayant Acharya of JSW Steel stated that domestic in India is quite good. He said, “The capex investments which we see by the government of India, states, the public sectors, and the private is probably one of the highest, which we are going to see this year. Secondly, the manufacturing activity, I think, overall, we all feel is stepping up. Last year, it grew at about 5 percent and we see a decent amount of growth coming in this year as well.”

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