Indian steel magnate Lakshmi Mittal has no immediate plans to invest in India, where his recent attempts to build steel plants in Jharkhand and Odisha reportedly face local opposition and wrangles over land acquisition, says a media report.
Mr Mittal, who is Britain’s richest individual, told The Sunday Times that India remained a priority but not for investment. He said: “India remains a priority but not for investment. I’m not locating capital to India or China as I don’t see things progressing there. Now our priority is to reduce debt, we sell non-core assets. But we continue to invest in mining and become self-dependent.”