Washington: NRI business tycoon Lakshmi N Mittal, whose newly floated Mittal Steel Corporation has emerged as the world's largest steel-maker, has said his company wants to begin operations in India.

Mittal-owned Ispat International had on Monday (Oct 25, 2004) announced its merger with The Netherlands-based LNM Holdings and acquisition of US International Steel Group to create world's largest steel-making firm Mittal Steel Corporation.

Mittals currently have operations on four continents but not in India. "It is an irony, but it is true. We want to do business in India. It is a growing economy," Mittal told the 'Wall Street Journal'.

He said changes in Government policies in India have created a more friendly environment for foreign steel-makers to develop partnerships or investments.

The country's population is fuelling commodity consumption growth second only to China. "It is the next stop, for anyone, after China," said Mittal.

The 'Journal' said that other large steel-makers, such as South Korea's Posco, are also considering partnerships to construct multibillion-dollar plants in India.