'Tata Steel can unlock a lot of value with less capital downstream': CEO & MD T V Narendran

Value for a steel producer may not necessarily be derived by its production capacity, according to Tata Steel chief executive TV Narendran and chief financial officer Koushik Chatterjee. Changing market dynamics are making it crucial for companies to look for value across the chain, making value-added products a "must-have" rather than a "good-to-have", they tell Nikita Periwal. Edited excerpts: