External pressure is building on SAIL. State-run Indian Railways recently issued a global tender for purchasing rails outside its traditional supplier SAIL, opening the doors to private steel producers like Jindal Steel & Power Ltd. to compete in the local market.
“Gone are the days when SAIL was a monopoly,” Sharma said. “They have to be capable of standing up to competition.”
SAIL has about $6 billion of debt and a workforce of about 82,964 people as of March 31, more than the combined of 46,837 employees at Tata Steel and JSW Steel.
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