The takeover of Corus Steel by the Tata group is being trumpeted by the Indian bourgeoisie as a significant milestone in their efforts to join the elite club of the world’s superpowers. With this takeover, the Tata group will become the fifth largest steel producer in the world. Similar euphoric statements were made when the Mittal group took over the Arcelor steel company to become the world’s largest steel producer. In both the cases, the Indian government backed these monopoly houses to the hilt and used all ploys within its powers to help them to bag the deal.

It is reported that the Tata Group clinched the Corus deal and beat its rivals because of its claim to reliable sources of iron ore, i.e., the massive resources of 18 billion tonnes of iron ore in the country. These reserves of iron ore are from the land that belongs to the people. The Tata Group has leased out some of the mines which contains the iron ore and is confident of accessing the remaining resources as per its need. But how can such a leasing arrangement be allowed, by which any private capitalist is free to do what he likes with the natural wealth that belongs to the people living on that land, that belongs to the states of Chattisgarh or Jharkand or Orissa, that belongs to the Indian people? It is not difficult for a Tata or Reliance to pay the lease rent, with all the money amassed from exploitation of the country's natural resources and labour.

In recent years Tata Steel had emerged as one of the most "efficient" producers of steel by organizing massive cuts in the workforce and making use of the cheap raw material and skilled labour available in India. Now, Tata Steel wants to “leverage” this cheap labour to mine out the natural resources to make even more super profits and catapult itself into the Fortune list of companies. The iron ore will be smelted to make steel in its factories abroad and sold for the highest price in the world market.

What do the people of India gain by the Corus takeover? Why should the workers, peasants and tribal people of India agree to even more intense exploitation of the land, labour and natural resources of India to benefit this or that monopoly group. In this year, the 150 th anniversary of the Ghadar of 1857, the Indian bourgeoisie is jumping up and down with glee that the takeover of Corus Steel (created by the merger of British Steel) is an indicator of the former colony getting an upper hand over its former colonial master. The perverted lesson that the Indian bourgeoisie is deriving from the uprising of 1857 is that it should become an imperial power itself. The enlightened lesson that the Indian people are deriving from the uprising of 1857 is that it should not rest content until the land, labour and natural resources of India belong to the people and “Hum Hain Iske Malik, Hum hain Hindustan, Mazdoor, Kisaan, Aurat Aur Jawan” becomes a reality.