As SAIL's modernisation draws to a close, it faces new challenge

It must educate buyers about differentiating properties of its products from that are in the market

Photo: Reuters

A common feature in public sector undertakings, which have close to a 16 per cent share of the country’s gross domestic product, is to postpone taking decisive action at early stages of a crisis. Take Steel Authority of India (SAIL) – it would have been able to give a better account of itself during 2016-17, taking advantage of improved metal prices, had the management corrected course at the first signs of shrinking margins. The global steel meltdown started in the beginning of 2014 with prices sinking to 12-year lows in December 2015. The demand sluggishness resulted ...