Enhancing Value…a process that is embedded in the day to day life in Tata Steel. The company has drawn up a challenging plan to ensure that it continues to create value in the future. The plan includes expansion of its global footprint while building a strong base in India as the country embarks upon becoming a global economic power. The Company’s aspiration for growth is founded on world-class capabilities, a culture of continuos improvement, Tata values of Leadership with Trust and its firm resolve to be a global steel player in the world. Chairman's Statement Dear Shareholder, The global steel industry has seen continued strong demand growth during the year.                                          The year that was Ranked World's Best Steel Maker - World Steel Dynamics Consolidated gross turnover crosses Rs. 22,000 crores Acquisition of Millennium Steel, Thailand 1 MTPA expansion completed. 1.8 MTPA expansion launched Reduction in domestic clean coal ash content by 1.2% enables lower usage of imported coal from 46% in FY05 to 32% in FY06, resulting in an overall reduction in cost of manufacturing coke. Standard and Poor's upgrades Tata Steel to 'BBB' - two notches above India's sovereign rating Equity participation in coal mines - Australia steeljunction - an innovative initiative Tata Structura launched