Tata Steel was ranked third in the world by noted journal World Steel Dynamics, its deputy managing director TK Mukherjee said. Detailing the Tata Steel experience in becoming the least cost producer of steel in the country, Mr Mukherjee told a session on ‘Building world class companies in the manufacturing sector’ organised by AIMA here that in 2000, it was ranked first.

It slipped to third rank in 2001 as Tata Steel could not make forward looking statements or disclose its strategy which was sought by the steel journal.

He said that Tata Steel was restrained to do so because of the regulations laid down by the Indian capital market watch-dog, Sebi. "However, we accept the ranking", he said. He said that introduction of ERP in th evarious functional areas of marketing and finance, helped the company in controlling costs.