An epochal event that holds significance for every globalized Indian business brought down the curtains in March when Tata Steel Ltd declared that it will sell off or mothball its UK steel plants. The event contains a lesson for every Indian business aspiring to go global; it also has immense geo-economic and geo-political repercussions.
Tata Steel’s decision is in keeping with the trend of Indian companies selling off overseas assets to either repay debt or exit low-yielding assets. Tata Steel’s decision seems to be a combination of both.
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