Steel baron Lakshmi Mittal, once India's richest, controls ArcelorMittal, the world's biggest steelmaker, which is battling a global supply glut and rising imports from China. In 2014 Arcelor had reported a net loss of $1.1 billion on revenues of $79.3 billion. The company said it would close down 2 mills in South Africa and is looking to restructure in the U.S. Mittal remains bullish on his home country; in May Arcelor signed a joint venture with state-owned Steel Authority of India to make automotive steel
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