Tata Steel's Chief Financial Officer Koushik Chatterjee says India's steel demand will grow seven to eight percent annually for the next twenty years. The company targets over forty million metric tons of annual capacity and is entering the Maharashtra market. Tata Steel allocates over sixty percent of its two-point-one billion dollar annual capital budget to India. Chatterjee also frames domestic steel production as essential to national sovereignty, warning that countries without strong steel industries risk losing strategic independence.