The 50:50 joint venture (JV) between Tata Steel and Thyssenkrupp AG of Germany formed this June will make the new venture second in sales in the world. The partially Indian-owned steel maker Arcelor Mittal is number one. But, Tata Steel managing director T. V. Narendran clarified in an interview with the Daily News and Analysis on July 16, 2018 that it "is not the ambition” to "expand capacity to overtake” their bigger rival. "We just want to make the JV work, and make it profitable and sustainable... This market is not a growth market where you build capacity,” he stated.......