The IIP data in October reflects positive momentum, but industry remains cautious about the environment. Seshagiri Rao, joint MD and CFO of JSW Steel, says that demand in the steel sector remains muted particularly from industries like automobile. He, however, adds that there is some pick-up in demand from rural areas. Mr Rao also says the pricing environment remains tough and while JSW plans to hike prices by 3-4 per cent, input costs have risen by much more.
